The basics

What is inland marine insurance?

Inland marine insurance was originally started to protect cargo sailing across the sea, but it means much more today. This coverage now protects a business against losses while transporting movable business property, such as materials, goods, and equipment.

Think of it as a kind of property insurance that protects things while traveling “over land.” This policy is often referred to as tools & equipment insurance.

23 million
The number of Americans that have packages stolen from their porches every year. Inland marine covers that.

Who needs inland marine insurance?

You’ll need inland marine insurance if you have important business property that you frequently move to different locations, temporary storage, on the road, or anywhere off-site.

If you have important business property that you frequently move to different locations, temporary storage, on the road, or anywhere off-site, you should consider inland marine insurance.

You should get an inland marine policy if:

    • You use equipment at locations other than your business premises.
    • You frequently take things to offsite locations like events, appointments, or shows.
  • You are storing goods or equipment somewhere.

It’s important to keep in mind that even if you have business property insurance, your things are (most likely) not protected once they’re 500 feet away from the premises described on your insurance policy.

What kinds of property does inland marine insurance protect?

If an accident happens, inland marine coverage will provide the funds to replace damaged equipment and inventory.

Why should I get inland marine insurance?

Property insurance policies don’t “follow” the items where they go. There’s usually a tight radius around the business premises where the coverage applies (such as 500 feet).

Inland marine insurance fills the “property insurance gap” by protecting your items when they’re not at work.

You might think that if your things are inside a vehicle, they’re protected by auto insurance. Check your policy– it may provide some coverage, but not all. Another reason it’s worth looking into inland marine insurance.

Coverage highlights

Valuable items
Such as fine art, papers, and drawings.
Such as computers, medical equipment, and high-end cameras.
Mobile equipment
Such as trailers, bulldozers, and food trucks.
Software and electronic assets
Such as accounting software, lead-tracking data, policies and procedures.
Property in transit
Such as inventory, supplies, and tools.

Price factors

How much does inland marine insurance cost?

For $10,000 worth of coverage, you can expect to pay around $250/year. Some policies could be less, some could be more – it all depends on what you do, what you’re covering, and a few other variables.

The best way to find out for sure is to get a quote.