Inland Marine Insurance Overview
When it comes to property insurance, your Commercial package or Business Owners policy provides coverage for your property on your premises and may include some coverage for property off-premises or in transit but it is not designed to adequately cover businesses who routinely travel with goods and equipment, store property off-site, ships goods, or transports property, Inland Marine insurance is the coverage option that you will need. It also covers specialty equipment, such as medical/veterinary equipment, photography and video equipment, Jewelry, and Accounts Receivable.
Inland Marine insurance ensures that your property that is not at your premises is covered in the event of a covered loss while transported over land.
Inland Marine covers the following:
· Property in transit – when being transported over land, the property is covered. This could be for a contractor taking equipment and tools to job sites and while at the job site, property being transported or shipped
· Property stored in a moving vehicle – such as a mobile detailer or food truck
· Property stored away from your covered premises – such as a warehouse, or storage facility but can also be owned property at another location, such as vending machines
· Infrastructure Property – if you own communication towers or bridges, that will also be covered under Inland Marine
Additional Inland Marine Coverage
While there are varying types of inland marine insurance, there are also more specialized coverages that a business may need.
· Motor Truck Cargo – for transportation of client’s goods while being transported by you
· Installation Floater – for construction risks, this will provide coverage for the materials while on the truck, during transport, and up until they are installed
· Builder’s Risk – for materials and structures that are being renovated or new construction
· Bailee’s Customer Coverage – for client’s good in your care, custody or control for storage, repair, or servicing/cleaning
· Exhibition and Fine Art Coverage – for high-value and valuable items on loan, in transit, or on exhibit.
Exclusions
· Property at your location
· Vehicles
· Property transported by air or sea (covered by Air Cargo and Ocean Cargo)
· Earthquake or Flood
· Property damaged before shipment/transport
At Fixated Financial, we can help protect your business by providing coverage for your property both on and off your premises. From Contractors' Equipment to Motor Truck Cargo, we have multiple markets to ensure that you get the coverage that you need. We are a customer-driven agency that believes that there is no substitution for a personal touch. We will offer no-obligation quotes for all of your business insurance needs. Please contact either laura@fixatedinsurance.com or veroncia@fixatedinsurance.com today, or call us at 855-266-2135.
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