What is Inland Marine Insurance?

Inland Marine Coverage

Inland marine coverage is property insurance for property in transit over land, certain types of moveable large or high-value property like manufacturing equipment, technology (servers, microprocessors, camera equipment etc.)  instrumentalities of transportation (such as bridges, roads, and piers, instrumentalities of communication (such as television and radio towers) etc. Many inland marine coverage forms provide coverage without regard to the location of the covered property. As a group, inland marine coverage forms are generally broader than commercial property coverage forms and typically have higher limits.

Inland Marine Past & Present

Years ago, Inland Marine Insurance was used strictly in the ocean marine industry to protect against property losses before, during and after water transfers. Throughout time, the non-ocean part of the cargo journey developed, cargoes were transferred to barge, and thus, the term “inland marine” was coined. These policies became known as “floaters” because the property covered was originally “floating” in the ocean.

In today’s insurance realm, Inland Marine coverage provides protection to fill gaps in commercial property protection or to reach specific limits of coverage. Here are some examples of items that Inland Marine Insurance could potentially cover that are typically excluded from a Commercial Property policy:

  • Expensive musical instruments and sounds equipment used by the band
  • Camera equipment used by a film crew
  • A large neon sign is being moved to its final location for installation
  • Construction contractor’s mobile equipment that leaves the company’s property
  • Antiques, paintings, statues and fine art

See also All risks coverageBuilders risk policyCargo insuranceEquipment floaterFine arts coverageFloater policyInstallation floaterJewelers block insuranceNamed perils coverageOcean marine coverageOpen perilsProperty insuranceTool and die floaterTransit coverage.

To learn more about Inland Marine Insurance to protect items that may fall between the lines of your current coverage call 1-866-287-0448 to speak with an ALIGNED Insurance Advocate today.

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