Cargo ShipInland Marine Insurance

Inland marine insurance in the United States compensates someone for harm or loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Inland marine insurance generally covers property that is movable or transportable in nature. It often covers property that needs broader protection than what may be provided by the typical property policy. This category of insurance includes at a minimum property coverage for construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and a wide variety of other types of property.

Actually, the definition of inland marine insurance has evolved over time and now covers a very wide, very broad range of property and materials. The coverage’s listed below represent a wide range of the types of coverage’s typically called “inland marine.” Do not let the term “inland marine” fool you! “Inland Marine” insurance addresses many risks and exposures for loss of property other than “marine.” Risks and exposures that are movable or moving, in transit or held by a bailee are now included under the heading of Inland Marine. This coverage is not the same as Ocean Cargo or Ocean Marine Insurance but does have its beginnings there.

Inland Marine commonly covers one of the following but this is not a complete list and there are others also:

  • Accounts Receivable

  • Bailee Customer’s Goods (Property in the custody of a Bailee)

  • Bridges

  • Builders’ Risk

  • Camera and Photographic Equipment

  • Commercial Floaters

  • Communication Towers and Equipment

  • Computer Coverage

  • Contractors Equipment

  • Dealers

  • Exhibitions

  • Fine Arts

  • Furriers

  • Golf Equipment

  • Guns

  • Installation

  • Jewelers

  • Leased Property

  • Mobile Medical Equipment

  • Motor Truck Cargo

  • Museums

  • Musical Instruments

  • Processing Risks

  • Property in Transit (Trip Transit)

  • Rigger’s Liability

  • Scheduled Property

  • Transportation

  • Valuable Papers

  • Warehouse Legal

  • Computers/computer systems

  • Tools and equipment for artisan contractors (from mobile equipment to hand tools)

  • Fine Art Dealers/Galleries (covers the fine art and tools/equipment used in conjunction with fine art)

  • Photographers camera equipment

  • Motor Truck Cargo (covers the goods being carried by an insured trucker)

  • Transportation Form (covers goods shipped by or to our insured via common carrier)

  • Pet Groomers (covers their equipment, especially for those with mobile operations)

  • Veterinarians (covers their equipment, especially when portable in nature)

  • Vending Machine Form – used to cover vending machines (not the contents)

  • Dealers Service Form – covers equipment used by servicing contractors / installers (appliances, flooring, plumbers, etc.)

 

Contact a professional independent insurance agent at Mallory-Tate today for assistance in determining your inland marine coverage needs.