Contrary to what its name may suggest, Inland Marine Insurance offers coverage for products and materials while they are transported on land. If your business needs to make shipments, this type of insurance may interest you. Keep reading to learn more.
What Is Inland Marine Insurance?
Since the term “Inland Marine Insurance” may create some confusion, let’s take a minute to clear things up. Inland Marine Insurance protects products, materials, and equipment when transported over land (for example, by truck or train).
Marine Insurance, on the other hand, is a totally different type of coverage that protects products as they are transported over water.
Some of the objects that an Inland Marine Insurance policy may cover include:
- Communication or networking tools and equipment
- Computer equipment
- Artworks
- Mobile tools and equipment
- Photography equipment
- Property such as tools and supplies
- Scientific equipment
- Trade show exhibits
How to Know if Your Business Needs Inland Marine Insurance
Any business with moveable property should consider purchasing Inland Marine Insurance. While the insurance you already have may cover your business property, some situations may fall outside of the scope of your policy.
For example, you may think that your computer equipment is protected by your current business insurance policy without realizing that your coverage excludes incidents that may occur while the equipment is being transported somewhere else.
An Inland Marine Insurance policy may offer coverage against risks such as:
- Theft
- Fire
- Water damage
- Wind and hail
In some cases, your Business Owners Policy (BOP) may include Inland Marine Insurance. If not, you can purchase it as a separate coverage, or as an endorsement to your base policy.
There are special Inland Marine Insurance coverages to fit all types of needs, from Exhibition and Fine Art Coverage to Motor Truck Cargo Coverage, which protects your customers’ goods while your business delivers them.
Check with the insurance experts at RF1 Insurance Services to determine which is the best Inland Marine Insurance option for your organization.
RF1 Insurance Services: Inland Marine Insurance in Ontario, California
Looking for Inland Marine Insurance? Our friendly experts at RF1 Insurance Services stand ready to meet all your commercial and personal insurance needs.
Contact us by email (info@RF1ins.com), telephone (909-359-2067), or social media (Facebook, Twitter, or LinkedIn) for a free quote or to learn more about a full range of insurance solutions.
