The name may be confusing, but inland marine insurance has nothing to do with sailing or transporting goods over water.
It covers goods and equipment when transported over land by rail or truck, materials you will use at a job site, or when temporarily storing goods or materials in a third-party warehouse while en route to their destination.
Whereas cargo insurance covers goods you ship by land, air, or sea, inland marine insurance – sometimes called heavy equipment insurance or tools and equipment insurance – is designed to cover high-end, expensive equipment or products that are being transported by land to protect them from three of the most common causes of damage or loss: theft, vandalism, and damage from collisions.
Inland Marine Insurance Coverage Basics
Inland marine insurance covers damage, loss, or theft of goods and materials or equipment in transit by truck or train over land. It also protects your goods if temporarily warehoused at a third party’s location before reaching their intended destination.
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This type of coverage is purchased by business owners to protect expensive items in transit, such as valuable artwork, computer servers and other electronics, construction equipment, or scientific and medical equipment. It can be added to an existing business insurance policy or purchased as a separate policy.
Inland marine insurance does not cover your business contents at your commercial property (commercial property insurance covers that). It also doesn’t cover vehicles used for business (you’ll need commercial auto coverage), damage or loss that occurs to them before they’re shipped, or goods shipped by sea or air.
Does Your Small Business Need Inland Marine Insurance?
Although organizations that ship consumer goods to retailers or consumers may purchase inland marine coverage, many different types of businesses also buy it to protect their high-value equipment while in transit.
For instance, companies that frequently ship expensive trade booth materials to conventions in different locations across the country or an excavator firm sending their specialized, high-end equipment to various job sites.
Inland marine insurance provides comprehensive coverage for a wide range of organizations and professions, including:
- Construction firms and general contractors
- Trucking companies and freight forwarders
- Commercial property owners
- Real estate developers
- Municipal governments
An inland marine policy may also include additional coverages such as installation floater insurance or builder’s risk insurance. It is sometimes included in a business owner’s policy – or it could be bundled with your other coverages like commercial general liability. Speak to a licensed Zensurance broker if you have questions about your policy requirements.
How to Protect Your Goods and Equipment in Transit Over Land
Before transporting your goods or equipment, get the coverage you need to protect your assets.
Fill out our online application for a free quote in less than five minutes.
Let our knowledgeable brokers provide you with the customized, low-cost business insurance policy you need at a price you can afford.
– Updated August 28, 2024.
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