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.