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:
See also All risks coverage; Builders risk policy; Cargo insurance; Equipment floater; Fine arts coverage; Floater policy; Installation floater; Jewelers block insurance; Named perils coverage; Ocean marine coverage; Open perils; Property insurance; Tool and die floater; Transit 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 or connect with us at www.alignedinsurance.com
It’s time to get insurance value and choice aligned. Want Canadian business insurance that aligns with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448 or click to Get a Quote!
We’re ALIGNED across Canada. The ALIGNED Insurance National Operations Centre in Cambridge, Ontario supports our Toronto, Calgary and Vancouver offices. Our industry peers consistently recognize us as one of Canada’s best insurance teams. 100% Canadian-owned, we are super proud to be one of the fastest-growing insurance brokerages in the country.
We deliver e-news you can use. Get practical business insurance insights in your inbox every month. 19,000+ people subscribe to our free ALIGNMENT Matters e-news. Just click the JOIN OUR DISTRIBUTION LIST button – at the bottom of our homepage – to get connected.
365 | Get ALIGNED. Every day, Canadian business leaders read our insurance insights. Find us on LinkedIn, Twitter, Facebook, Instagram and YouTube.