Your tools, equipment, and materials don't always stay in one place. Inland marine insurance protects your valuable property while it's in transit, at a job site, or stored away from your primary location.
Despite the name, inland marine has nothing to do with boats. It covers property that moves between locations or is used away from your primary business premises.
Covers hand tools, power tools, and small equipment used at job sites.
Protects large equipment like excavators, forklifts, and generators.
Covers goods, materials, and equipment while being transported between locations.
Protects materials and equipment during installation at a customer's location.
Covers buildings under construction from damage during the construction process.
Covers equipment you rent or lease from others while in your care.
If your business involves moving valuable property from place to place, standard property insurance won't fully protect you. Inland marine fills that gap.
The name dates back to ocean marine insurance, which covered goods in transit over water. 'Inland marine' extended that concept to goods moving over land. Today it covers any mobile or transit-related property.
Premiums are typically 1–3% of the total value of covered property. A contractor with $50,000 in tools might pay $500–$1,500/year.
Usually not, or only with very low sublimits. Commercial property primarily covers items at your listed business address. Inland marine covers them everywhere.
Yes, inland marine typically covers theft of tools and equipment from vehicles, job sites, and storage locations — as long as reasonable security measures were in place.
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