Ahoy! Does the term “inland marine” leave you wondering if people are sailing boats over land? Perish the thought!

Inland marine insurance has nothing to do with sailing or transporting goods over water. But it covers goods and equipment when transported over land by rail or truck or when temporarily stored in a third-party warehouse while en route to their destination.

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 collisions.

An 18-wheel truck transporting goods on a highway

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.

It’s also purchased to protect expensive items in transit, such as valuable artwork, computer servers and other electronics, communication and networking equipment, or scientific and medical equipment.

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), items or goods shipped by sea or air, or damage or loss resulting from floods, fires, or natural disasters.

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 (BOP) – 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.

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 an online application with Zensurance, and in a few clicks, we’ll provide you with the customized insurance policy you need at a price you can afford.

Reviewed by Aharshan Thangarasa, Team Lead, Contractors, Zensurance.

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About the Author: Liam Lahey

Liam is the Content Marketing Manager at Zensurance. A writer and editor for more than 20 years, he has been published in several newspapers and magazines, including Yahoo! Canada Finance, Metroland Media, IT World Canada and others.