Inland marine insurance is a type of insurance coverage that provides protection for property and goods that are in transit or stored away from the owner’s primary location. Despite the name, it doesn’t actually pertain to marine or ocean-related risks; instead, it covers a wide range of property and assets that can be transported over land or stored at various locations. Inland marine insurance was originally developed to cover the transportation of goods by waterways but has since evolved to cover a broader range of risks.

Key features of inland marine insurance include:

  1. Coverage for Property in Transit: Inland marine insurance covers property or goods while they are in transit, whether by truck, rail, air, or other forms of transportation. This coverage is crucial for businesses that regularly transport valuable assets or goods.
  2. Coverage for Property Off-Site: This insurance can also protect property and equipment that is temporarily located away from the insured’s primary business location. This can include tools, machinery, or equipment used at a job site or stored at a warehouse.
  3. Flexible Coverage: Inland marine insurance policies are flexible and can be tailored to meet the specific needs of the insured. This flexibility allows businesses to protect a wide range of assets.
  4. Wide Range of Covered Items: Inland marine insurance can cover a diverse range of items, including construction equipment, fine art, computer equipment, medical equipment, musical instruments, and more. It’s not limited to any specific type of property or asset.
  5. Specialized Coverage: Some inland marine policies are designed for specific industries, such as contractors, photographers, or medical professionals, and provide specialized coverage for the unique risks associated with those industries.

Inland marine insurance is particularly important for businesses that transport valuable goods, equipment, or materials, as it helps protect against the financial losses that can result from damage, theft, or loss of these items during transportation or while they are off-site. It’s a critical component of risk management for businesses that rely on the transportation and storage of property and assets as part of their operations.

It’s important to note that the specific items and situations covered by inland marine insurance can vary from one policy to another, for this reason, The Major Agency works side by side with  business owners in order to tailor a policy that meets their specific needs. This insurance is highly customizable and can be adapted to protect the unique assets and property of a business. Give us a call for your quick quote 470 641 1304.