Inland Marine Insurance provided by Altima Auto Insurance Agency
Don’t let the term “inland marine” confuse you. As opposed to “marine insurance,” which covers products when transported over water, inland marine insurance covers products, materials and equipment when transported over land—e.g., via truck or train—or while temporarily warehoused by a third party. Collisions and cargo theft are the two most frequent causes of inland marine losses.
What You Should Know About Inland Marine Insurance?
Inland marine insurance is a type of business insurance that helps cover products, materials and equipment while they are transported on land, such as by truck or train. This coverage is meant to help protect business property that is movable or used for transportation or communication purposes.
Inland marine insurance helps pay to repair or replace portable business property that is damaged by a covered peril listed in your policy.
Perils that may be covered by inland marine insurance may include:
- Theft
- Fire
- Wind
- Hail
- Water damage
In addition to the above, an inland marine insurance policy may provide additional coverage for specific situations. This may include protection for:
- Mysterious disappearance: Missing property where the cause of the loss cannot be discovered.
- Accidental drop and damage: Property losses caused when an item is dropped or mishandled, either in transit or in loading/unloading.
What does Inland Marine Insurance Cover?
Who needs Inland Marine insurance?
Inland marine is a specialized form of property insurance. Not all small businesses need it. However, companies that fit the following profile should consider purchasing it:
- Frequently ship property by land
- Occasionally ship high-value property
- Have assets that move between business locations
- Have property stored at third-party owned locations
- Have property in a commercial vehicle that is constantly in motion (food truck, repair vehicle)
Damaged equipment, contamination, stolen goods – these are just some of the exposures your business may face on any given day. With the right inland marine policy, you can tailor coverage to address your specific inland marine risks. We can help you determine whether or not purchasing inland marine insurance makes sense for your business. Contact us today !