Inland marine insurance is a specialized type of insurance coverage that provides protection for property that is mobile or in transit. While the name might suggest coverage for maritime-related risks, inland marine insurance actually encompasses a broader range of property and equipment. Here are some common insurance coverages associated with inland marine insurance:

  1. Property Coverage: Inland marine insurance can cover various types of property that are not typically covered by standard property insurance. This may include equipment, tools, machinery, artwork, specialized instruments, and other valuable items that are frequently moved or transported. Property coverage under inland marine insurance typically extends beyond the insured location and offers protection while the property is in transit or temporarily stored in different locations.
  2. Builder’s Risk Coverage: Builder’s risk coverage, a type of inland marine insurance, is designed to protect property during the course of construction or renovation projects. It provides coverage for the property being built, materials on-site, and equipment used in the construction process. This coverage may include protection against risks such as theft, fire, vandalism, and weather-related damage.
  3. Equipment Floater Coverage: Equipment floater insurance is a specific type of inland marine coverage that protects portable equipment and machinery. It covers equipment that is frequently moved between job sites or used off-premises. This coverage is commonly utilized by contractors, equipment rental companies, and businesses that rely on specialized tools or machinery.
  4. Installation Coverage: Installation coverage provides protection for property that is being installed or undergoing installation work. This coverage is relevant for contractors or businesses involved in the installation of equipment, machinery, or other property at customer locations. It can include coverage for the property being installed as well as potential liability arising from installation-related activities.
  5. Fine Art Coverage: Inland marine insurance may also offer coverage for fine art and collectibles during transportation or while on display at exhibitions or galleries. This coverage helps protect against risks such as theft, damage, or loss of valuable artwork.
  6. Instrument Coverage: Musicians, orchestras, and music schools may consider inland marine insurance to protect their instruments while in transit or during performances. This coverage can provide protection against damage, loss, theft, or destruction of musical instruments.
  7. Cargo Coverage: Inland marine insurance can also include cargo coverage, which protects goods and merchandise while in transit. This coverage is often used by businesses involved in shipping, transportation, or logistics.