Skip to main content

Inland Marine Insurance: What You Need to Know

Start Your Free Quote!

All fields are required.

Don't feel like filling in a form?
Skip ahead of the line and call us toll-free: 877-907-5267

All fields are required.
Important Disclosure Below

Thank you!
We received your information.

The Hartford Liberty Mutual Progressive mylo Acuity

What is Inland Marine Insurance?

Inland marine insurance stands as a crucial safeguard for businesses across various industries, offering protection for tools, equipment, and valuable cargo during transit over land or storage off-site. Despite its misleading name, inland marine insurance fills critical gaps left by traditional insurance policies, ensuring comprehensive coverage for businesses engaged in offsite work, transportation, or equipment handling. Understanding the fundamentals of inland marine insurance is essential for businesses to mitigate risks effectively and safeguard their assets against potential losses.

What is Inland Marine Insurance?

Inland marine insurance, despite its name, isn't marine insurance at all. Instead, it's a vital component of business insurance designed to protect tools, equipment, and other valuable cargo during transit over land or while stored off-site. This coverage, often referred to as an 'installation floater policy' or Contractor’s Tool & Equipment Insurance, fills the gap left by general liability or commercial auto insurance, which typically don't cover equipment in transit.

When Do You Need Inland Marine insurance?

Businesses that work offsite, transport tools and equipment, or handle borrowed or rented equipment should strongly consider inland marine coverage. This includes construction businesses, technology companies with electronic or renewable energy equipment, transportation/motor truck cargo businesses, organizers of special events with equipment like speakers or musical instruments, as well as those dealing with specialized oversize hauls or medical diagnostic equipment, fine art, and antiques. Protecting against common risks such as car accidents and theft is essential to safeguard expensive inventory and equipment.

What is Covered Under Inland Marine Insurance?

Inland marine policies typically cover a range of scenarios including property temporarily in your care, tools and equipment being transported in commercial trucks, movable property in fixed locations, tools and equipment stored at job sites, as well as valuable items being transported. However, it's crucial to ensure that items covered are not excluded from the policy to guarantee comprehensive protection.

How Much Does Inland Marine Insurance Typically cost?

The cost of inland marine insurance can vary depending on factors such as the value of the insured items, the level of coverage needed, and the specific risks associated with the business operations. It's advisable to consult with an insurance professional to obtain an accurate quote tailored to your business needs.

Let us help you protect your business with inland marine insurance and keep your mind at ease. At Tivly, our goal is to help you find protection for your business as efficiently as possibly by matching you with the right insurance provider. Simply give us a call at 877-907-5267 or complete the form above and one of our specialists will contact you right away.

Related Articles: Builder’s Risk Insurance, Commercial Property Insurance


Quote icon
I spoke with Megan, she was very professional and informative. When she couldn't reach me on the phone, she stayed with it never giving up.
Five Star Rating
Dorothy Rivers
Quote icon
Insurance I needed, explained simply.
Five Star Rating
Kimberly Zimnoski
Quote icon
Very efficient and courteous service.
Five Star Rating
Orville Brown