Inland marine insurance protects your business property when it’s in transit or stored at a site other than your main business location. It also covers specialized high-value assets that property insurance typically doesn’t cover.
How inland marine insurance protects your business
Inland marine insurance closes the gaps in standard business property insurance. Property insurance protects your tangible assets stored at your main business site and up to about 1,000 feet away. It doesn't protect property that is stored beyond that distance or property that is in transit between business sites.
Inland marine insurance covers losses to five types of business property:
- Property that is moving over land between locations (e.g., construction equipment)
- Property that you keep at an off-site warehouse or facility (e.g., vending machines stored at a customer’s site)
- Property that is stored in a moving vehicle (e.g., a food truck)
- Property that is part of infrastructure (e.g., bridges, communication towers that an insured owns)
- High-value property stored at your fixed location (e.g., another person's artwork stored at an auction house)
Inland marine insurance does not cover:
- Stationary property at your main location
- Your business vehicles
- Damage from earthquakes and floods
- Property you ship by sea or by air
- Property damage that occurs prior to shipment
Small businesses that have mobile property and that can meet an insurer’s underwriting requirements will likely be eligible for inland marine insurance.
Who needs inland marine insurance?
Inland marine is a specialized form of property insurance. Not all small businesses need it. However, companies that fit the following profile should consider purchasing it:
- Frequently ship property by land
- Occasionally ship high-value property
- Have assets that move between business locations
- Have property stored at third-party owned locations
- Have property in a commercial vehicle that is constantly in motion (food truck, repair vehicle)
Companies in the following segments will likely have a strong need for this type of protection:
How do I find free quotes for an inland marine policy?
Insureon helps small business owners compare commercial insurance quotes from A-rated U.S. carriers with one easy online application. Start an application today to protect your business against damage to your mobile property.