Inland Marine Insurance

While inland marine insurance may sound like a niche coverage that may not be appropriate for most commercial operations, it helps protect companies that frequently ship equipment or products. Inland marine insurance helps cover high-value materials and products otherwise excluded from a property insurance policy.

Contact Texas Insurance Options to learn more about inland marine insurance.

What Is Inland Marine Coverage?

Inland marine coverage is an optional policy that helps protect your company’s valuable products, tools, goods and equipment after it leaves your care and control.

The property insurance coverage included with your company’s BOP (business owners policy) or other commercial policies may not provide adequate coverage for specialty products and equipment while in transit.

This coverage may be appropriate for the following business activities:

·        Shipping a tradeshow booth that’s stored off-site by a vendor

·        Protection for someone else’s property that is sometimes or often in the care of your company

·        Shipping purchased goods to customers

What Does Inland Marine Insurance Cover?

Inland marine insurance helps provide coverage for damage to hauled equipment and transported goods in the event of vandalism, theft and accidents.

Inland marine insurance coverage typically includes:

·        Medical and scientific equipment

·        Networking and communications equipment

·        Servers, laptops and other types of computers

·        Photography equipment

·        Contracting and construction equipment

This list is not exhaustive. Talk with your agent to understand how inland marine insurance can help protect your company’s goods and equipment while in transit.

What’s the Difference Between Inland Marine and Marine Insurance?

Inland marine covers material, products and equipment when transported over land, while marine insurance covers products transported over water. Depending on your business activities, purchasing both marine and inland marine coverage may be appropriate.

Customizing Your Inland Marine Insurance Policy

An inland marine insurance policy is customizable. Your agent may recommend adding the following special inland marine coverages:

·        Motor truck cargo coverage helps protect clients’ goods while your business delivers and transports them.

·        Installation floaters help cover materials between the time they are loaded onto a truck and installed or put to use.

·        Exhibition and fine art coverage helps protect valuable items while on loan, in transit, or on exhibit.

·        Builder’s risk helps protect structures and materials during renovations or new construction.

·        Bailee’s customer coverage helps protect clients’ property left in the care of your company.

Do I Need Inland Marine Coverage?

If your company ships or transports valuable goods or equipment, inland marine insurance may be an appropriate addition to your business insurance coverage. Contact Texas Insurance Options to determine whether inland marine insurance is right for your organization and get a quote.