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Inland Marine Insurance Explained

inland marine insurance
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Inland Marine Insurance Canada

This insurance policy was designed for ocean marine industry to protect against property losses before, during and after water transfers. Throughout time, the non-ocean marine part of the cargo journey developed, cargoes were transferred to barge, and thus, the term “inland marine insurance” was coined. The policy became known as “floaters” because the property covered was originally “floating” in the ocean.

Inland Marine Insurance Coverage

This inland marine coverage can provide protection to fill gaps in Commercial Property Insurance or to reach specific limits of coverage.

Inland Marine Insurance may be better suited than traditional property insurance to provide coverage for some or all of the following:

  • Expensive musical instruments used at a school
  • Camera equipment used by a government agency
  • A neon sign not attached to a business’s building, but owned by the business
  • Construction contractor’s mobile equipment that leaves the company’s property
  • Antiques, paintings, statues and fine art
  • Items that “float” from location to location
  • Items used for sales presentations that are taken to prospective clients’ offices
  • Regularly shipped and/or delivered goods

Inland Marine Insurance Considerations

Inland Marine Insurance can provide specific inline marine coverage by industry to protect against a wide array of exposures. For instance:

For Construction

  • Builder’s Risk
  • Contractor’s Equipment
  • Installations
  • Rigger’s Liability

For Technology and Communication

  • Cable Television
  • Electronic Equipment
  • Medical Imaging Equipment
  • Physicians and Surgeons
  • Radio and Television Towers
  • Scientific Instruments
  • Telecommunication Equipment.

For Transportation Cargo

  •   Commercial Transport
  •    Legal Liability
  •    Motor Truck Cargo.
  •    Railway Rolling Stock
  •    Tank Storage

For Miscellaneous Floaters

  • Armoured Cars
  • Fine Arts
  • Furriers Block
  • Jewellers Block
  • Miscellaneous Floaters
  • Related Property

To Learn More About Inland Marine Insurance Call connect with an ALIGNED Insurance Advocate Or Connect With Us Today At

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