Commercial Inland Marine Insurance

Common Questions About Inland Marine Insurance

What is inland marine insurance?

Inland marine insurance is a form of business insurance used to protect products, materials, equipment, and other items transported on land. Businesses commonly purchase inland marine insurance coverage to protect property that is movable or used for communication or transportation purposes. 

How does inland marine insurance coverage work?

A business can buy inland marine insurance to cover the costs to repair or replace property that is damaged, lost, or stolen. Typically, an inland marine insurance policy covers a wide range of perils, including:

• Theft
• Fire
• Water damage
• Hail

Inland marine insurance policy coverage varies. We can help you identify the right inland marine insurance coverage for your business and make sure you get the most value out of it.  

What types of property does inland marine insurance cover?

Inland marine insurance covers items not normally included in a commercial property insurance policy, such as:

• Construction equipment
• Cargo
• Computers
• Electronics
• Photography equipment
• Medical equipment
• Trade show exhibits

What’s not covered under an inland marine insurance policy?

Most inland marine insurance policies do not cover any of the following:

• Earthquake damage (unless requested)
• Flood damage (unless requested)
• Property that is transported by air or sea
• Property that was damaged before it was shipped

What companies need inland marine insurance coverage?

Inland marine insurance offers financial protection for any businesses that frequently transport products, materials, equipment, and other items on land. It is commonly used by businesses in many industries, including:

• Construction
• Communications
• Food and beverage
• Landscaping
• Medical or healthcare
• Manufacturing
• Media and advertising
• Photo and video
• Renewable energy
• Retail
• Transportation

What are inland marine insurance deductibles and limits?

You may have a deductible with your inland marine insurance policy. This varies based on the policy. We can provide you with details about deductibles for inland marine insurance and help you select one that works best for your business. 

In addition, you may have an inland marine insurance coverage limit. If you have a covered claim, you will be reimbursed up to your insurance coverage limit amount. 

We can help you identify the right inland marine insurance coverage limit. That way, you’ll be fully covered for costs you face if you need to repair or replace any property that is damaged, lost, or stolen during transport.  

How much does an inland marine insurance policy cost?

The cost of inland marine insurance depends on your policy limits, the value of the business property you want to protect, and other factors. If you are considering inland marine insurance for your business, let us know. We can provide you with a personalized inland marine insurance quote. 

How much coverage do you need with inland marine insurance?

To determine your ideal inland marine insurance coverage amount, consider the value of any property you want to insure. From here, you can estimate the financial impact if you cannot use this property for your everyday business operations. 

It can be difficult to identify the optimal coverage amount for inland marine insurance. Our team can take a look at your business property and help you figure out how much inland marine insurance coverage you need. 

Is inland marine insurance required for a business?

Inland marine insurance is not mandatory. Businesses that want to protect their property while it’s in transport can purchase inland marine insurance to supplement their current coverage. 

How do I choose an inland marine insurance policy? 

To choose the best inland marine insurance policy, it pays to partner with a specialty insurance company like Palomar. We can give you insights into different inland marine insurance coverage options. Next, you can select a policy for inland marine insurance that meets your expectations. 

How do I get inland marine insurance?

Not all insurance companies offer inland marine coverage. It is beneficial to partner with a specialty insurance company like Palomar that offers specialty inland marine insurance coverage. We can help you get the best inland marine insurance coverage. 

How long does it take to get inland marine insurance coverage?

The time it takes to get inland marine insurance varies based on the insurance provider. We make it easy to purchase coverage for inland marine insurance right away.

What inland marine insurance options do you offer?

We offer four inland marine insurance options:

• Builder’s Risk: Protects construction risks from damaging accidents while project is being completed.

• Builder’s Risk Quota Share: Coverage for larger construction projects requiring multiple carriers dividing up the risk into agreed upon capacity percentages.

• Contractor’s Equipment and Floaters: Includes underwriting to contractors or individuals who own, lease, or borrow equipment used for business purposes.

• Motor Truck Cargo: Offers coverage to protect a hired trucker’s cargo from accidents and damage. 

We can provide you with full details about each of our inland marine insurance coverage options and help you find the right one for your business. 

How can I get started with inland marine insurance coverage?

To learn more about inland marine insurance coverage, get in touch with us today using the form on this page.