Why is it called “inland marine” insurance?
- This policy is called inland marine insurance because it’s an offshoot of ocean marine insurance, which protects property transported over water. Marine insurance came first – hence the distinction “inland” marine for land transportation coverage.
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Inland marine insurance covers products, materials and equipment when transported over land—e.g., via truck or train—or while temporarily warehoused by a third party. Collisions and cargo theft are the two most frequent causes of inland marine losses.
Does your business need inland marine insurance?
For many businesses, the property insurance provided by your Business Owners Policy (BOP) or Commercial Package Policy (CPP) may be sufficient. In general, these types of insurance cover property housed at a specific location, but tools and equipment that travel with employees to nearby job sites may also be covered.
However, if your business frequently ships products or equipment, you may want to consider purchasing inland marine insurance. This type of coverage is especially important if you ship high-value products or materials, which are often excluded from basic property coverage. Inland marine insurance can cover a wide range of specialty equipment and products, including:
- Computers, everything from servers to laptops.
- Communications and networking equipment.
- Construction and contracting equipment.
- Medical and scientific equipment.
- Photography equipment.
When weighing the need for inland marine insurance, consider the nature of your business and operations. Inland marine insurance isn’t just for companies that ship products to retailers and customers. For example, if you have a valuable tradeshow booth that is frequently shipped around the country and stored offsite by a vendor, you may want the protection provided by inland marine insurance. In addition, if someone else’s property is temporarily in your possession, inland marine insurance can provide coverage against the loss of this property.
Advantages of Working with a Ness Insurance Agent
Being a Trusted Choice Independent Agency, we have found success by doing business with highly rated companies with very competitive coverage and rates. The protection and security of our customers is our highest priority and we pride ourselves on backing it up with outstanding customer service.
- Expert knowledge and expertise
- Personalized solutions and service
- Quality coverage with maximum savings
- One-on-one claim assistance