Inland Marine Insurance
Inland Marine insurance is property coverage for material, products or equipment that moves or is transportable.
What is Inland Marine Insurance?
Inland Marine offers a broad solution for business owners. It provides the coverage you need to protect property, such as covering products, tools, and equipment while in transit over land or stored at an offsite location. Contractors can also use it for builder’s risk, installation coverage, or to cover materials being used and stored at the job site.
How much is Inland Marine Insurance?
The cost can vary by state, insurance company, and the amount of coverage needed. Most important to consider (underwriters look at this, too), are the actions you are taking to protect your assets. Your typical cost, when included in a Business Owner Policy (BOP), is $100 (subject to the insurance company's minimum premium rules). If you buy a standalone Inland Marine policy with broader coverage and higher limits, the starting point typically is $500.
Do you need Inland Marine Insurance?
Business owners who transport valuable business items such as tools or who own a company vehicle with specialized business equipment inside should consider this policy.
Inland Marine Insurance helps your business in the following ways:
Protects property on the move
If your business has valuable items or equipment in transport, your losses will be covered if they go missing or are damaged.
Protects property in temporary care
If your business has property in the temporary care of someone else, or in a temporary storage unit, it will be covered if theft or damage occurs.
Protects property in various places
If important business items or property are stolen or damaged, even if it is spread across various locations, such as multiple worksites, these losses will be covered.
Stationary property at your main business location
Your company vehicles
Damage from earthquakes and floods
What doesn’t Inland Marine Insurance cover?
RaisinBread helps provide you with coverage that can grow with your business.
