What is Inland Marine Insurance?
Inland marine insurance covers equipment and products transported on land and/or away from the business premises such as out on a job site. This coverage should not be confused with marine insurance, which is protection designed for commercial materials transported via waterways.
When trucks or trains haul high-value cargo, and there is a loss, inland marine coverage comes into play. The following will take a look at the types of losses and the materials covered under an inland marine policy.
Losses Covered by Inland Marine Insurance
The following are the types of losses covered by inland marine insurance:
- Collision: If a crash occurs during transport (car accident, train derailment, etc.), your inland marine policy helps cover the cost of damaged or destroyed property.
- Theft: Your coverage will help with financial losses if company materials are stolen while in transport from one location to another.
- Weather: Fire, wind, hail, or water damage events that affect the cargo during transport are covered under your inland marine policy.
What is Covered?
General property coverage only goes so far. Inland marine policies cover high-value items that may be excluded from your property policy, such as:
- Communication Devices
- Renewable Energy Equipment (wind and solar)
- Computers and Electronics
- Medical Equipment
- Art and Collectibles
- Construction Materials and Equipment
Inland marine coverage can protect your business from costly financial liabilities in the event of a loss. Please contact Steve Longenecker (303-808-9351, x2) at Mountain Insurance: Longmont to discuss your business insurance coverage options in Longmont, CO, and our neighboring communities.
We give out $25 gift cards for referrals that become our insurance clients.
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