Also known as contractor's equipment coverage, Inland Marine Insurance provides coverage for materials, products or equipment that moves or is transportable, and/or is instrumental in transportation or communication. This product typically provides coverage for fire, theft, vandalism.
What Is Inland Marine Insurance?
Inland Marine insurance is property coverage for material, products or equipment that moves or is transportable, and/or is instrumental in transportation or communication.
This type of policy also typically covers property that is owned by someone else but stored at the policyholder’s location.
What Does Inland Marine Insurance Cover?
Inland Marine insurance may help cover items that are typically excluded by property coverage, such as items of high value. The coverage helps meet the costs to repair or replace covered property that is damaged due to covered events including theft, fire, wind, hail or water damage.
This type of coverage may also include protection from damage or loss due to accident or mishandling, or in the event of an undetermined cause of missing property.
Inland Marine insurance typically covers:
Property that is being transported
Property that moves or will be moved between locations
Computer, television, video, sound or radio equipment
Medical diagnostic equipment
Party and special event equipment
Fine art and collectibles
Bridges and radio towers
Trade show exhibits
Solar panels and wind turbines
Inland Marine Coverage By Industry
Below is a list of some of the most common industries requiring Inland Marine Coverage:
- Inland Marine Construction
- Inland Marine Fine Art & Museums
- Renewable Energy
- Transportation, Cargo, Logistics
- Computerized Business Equipment
- Medical Equipment
- Miscellaneous Property Insurance