Inland Marine Insurance
Inland Marine Insurance Information
Inland marine insurance may provide essential protection for business property that is transported over land, movable or temporarily stored off-site. It may also provide coverage for damage during loading or unloading or specialty equipment.
The knowledgeable team at Trucking Insurance Services LLC can help you secure the inland marine insurance policy that meets your business’s needs. Contact us today to get started.
Why Is It Called Inland Marine Coverage?
The term inland marine insurance has its historical roots in ocean marine insurance which insures goods as they are shipped over water. As the transportation evolved to include more trucks, trains and other automobiles, “inland” marine insurance emerged to cover business property as it was moved over land.
What Is Covered Under an Inland Marine Policy?
Inland marine insurance may protect various types of business property if it is damaged by covered perils such as fire, theft, wind or water damage. It may also provide coverage if property is mishandled or accidentally dropped or if property goes missing without a known cause. Property that may receive protection includes:
Cargo you are transporting over land
Your business’s property that is movable
Your business’s property temporarily stored by a third party.
Coverage for other commercial property and equipment may be available, and specific types of protection that fall under inland marine insurance umbrella may also be available (e.g., motor cargo insurance).
Do I Need Inland Marine Insurance?
Inland marine insurance may supplement other commercial property insurance policies that may exclude tools and equipment in transit, high-value assets or a third party’s property that is in your business’s care. It may pay repair or replacement costs in the event of a covered loss and reduce your business’s out-of-pocket burden. The team at Trucking Insurance Services can discuss available coverages, exclusions and limits. Contact us for more information.
How Much Does Inland Marine Insurance Cost?
The cost of inland marine insurance depends on various factors, including the insured property’s value, your claims history and your policy limits.
The professionals at Trucking Insurance Services can help your business obtain the inland marine insurance that meets your needs. Contact us today to get started or to request a quote.