Fill Your Coverage Gaps with Inland Marine Insurance
In today’s insurance realm, Inland Marine coverage provides protection to fill gaps in commercial property protection or to reach specific limits of coverage. Here are some examples in which Inland Marine Insurance could potentially provide coverage for items typically excluded from a Commercial Property policy:
• Expensive musical instruments used at a school
• Camera equipment used by a government agency
• A neon sign not attached to a business’s building, but owned by the business
• Construction contractor’s mobile equipment that leaves the company’s property
• Antiques, paintings, statues and fine art
• Items that “float” from location to location
• Items used for sales presentations that are taken to prospective clients’ offices
• Regularly shipped and/or delivered goods
Years ago, Inland Marine Insurance was used strictly in the ocean marine industry to protect against property losses before, during and after water transfers. Throughout time, the non-ocean part of the cargo journey developed, cargoes were transferred to barge, and thus, the term “inland marine” was coined. These policies became known as “floaters” because the property covered was originally “floating” in the ocean.
