What Does Inland Marine Insurance Cover?
Inland marine insurance provides coverage for goods in transit, as well as valuable property on your premises. It can also cover some risks that can happen from caring for the property of others. If a truck carrying products is involved in an accident or a container is lost on the sea, your company can be reimbursed through inland marine insurance.
Property in Transport
If you transport goods by land, sea, or air, an inland marine policy, such as one from an inland marine insurance Maitland FL company, will cover the cost of those goods if they are damaged or lost. This coverage can include transporting them through multiple methods and modes of transportation. If you have a mobile business, an inland marine policy can protect the equipment that you carry from location to location.
Property in Your Care
A bailee’s customer-covered policy will cover the costs of damages if you have a business that has risks such as repairing automobiles or running a storage facility. This type of inland marine insurance covers risks associated with businesses that care for the property of others, whether that property is on your own premises or somewhere else. Similarly, a builder’s policy covers the structures and materials used during a construction project before it is completed.
Property with Unique Value
Especially valuable property, such as art, sculpture, or expensive equipment, may require inland marine insurance that is separate from your regular business policy. Equipment that is used for transportation, communication, or information transfer may also need an inland marine policy to cover unique risks associated with that kind of equipment.
It’s important to understand the different coverage that inland marine insurance provides in order to stay protected. Contact a licensed insurance agent to discuss your risks and the policies that might cover those risks.