Inland Marine Insurance

What is Covered by Inland Marine Insurance?

Inland Marine Insurance is designed for specific classes of property that are, generally, subject to risks associated with movement and transportation as well as theft and causes of loss to which most business personal property is vulnerable. Numerous types may be included in commercial package policies, while others are usually written separately or as part of a customized commercial insurance solution.

The term "Inland Marine" may bring to mind an image of ships sailing our highways, and indeed Cargo in Transit Insurance is one form of this coverage. In order to insure a wide range of valuable goods, a great deal of flexibility in writing the insurance specifications of these policies was required; thus inland marine policies now encompass an almost limitless range of situations. While there are many common forms, the beauty of inland marine is that it was developed to recognize and insure the unique. When "it has never been done before" and needs to be insured, the inland marine market comes into play.

Simplify Shopping for a Inland Marine Coverage

For over 35 years, Brunswick Companies' business insurance specialists have provided our clients in a wide range of industries with the expertise to help you identify your exposures and simplify your insurance purchase, providing the information you need to make an informed decision. We have the "know-how" to help you ascertain the coverage solution that best meets your needs and financial goals.

We provide our clients with access to a wide range of top-ranked insurance providers. Our extensive experience in insurance risk management makes us uniquely qualified to provide a cost-effective solution to managing your risk.

Comparing Inland Marine Coverage

Inland Marine policies and floaters from different insurers vary widely in what is covered. Brunswick Companies' business insurance specialists will assist you in understanding the differences in coverage and selecting the coverage that is the best fit for your business.

It is important to compare the these policies for covered causes of loss, exclusions and definitions of when coverage starts and stops. Policies may be written on a specified cause of loss or all risk basis. Brunswick Companies commercial insurance specialists have extensive experience in carefully reviewing insurance specifications to protect you against exposures and, where warranted, in crafting insurance specifications to meet your unique needs.

Who Utilizes Inland Marine Coverage?

This type of coverage is utilized by business owners in a wide variety of industries and even private individuals wishing to insure personal belongings of high value. Those who utilize Inland Marine insurance, include but are not not limited to:

Construction Contractors use valuable machinery and equipment in heavy construction work and work associated with the building of homes, buildings and structures of all kinds. Such insurance covers the property regardless of where it may be used or stored.
Casual contractors own equipment that is insurable under inland marine policies and which may be protected wherever it might be used. Every individual or firm in this category possesses such property, and it is vital to the operation of the business. Carpet cleaners, house cleaning services, piano tuners, upholsterers, tool grinders and curtain cleaners have need for bailees insurance to cover customers' property in their possession.
Applicable inland marine coverages for construction and casual contractors include Contractor's Equipment floaters, Installation floaters and Tools and Equipment floaters.

Manufacturers: A large number of inland marine policies may be used to insure manufacturing risks. The flexibility of inland marine underwriting permits the drawing up of special forms and custom rating of insurance for special situations. The following policies and forms are available to take care of most inland marine risks to which manufacturing businesses are subject: sign, accounts receivables, electronic data processing, pattern floaters, manufacturer's output and tools and equipment floater, to name a few.
Service Businesses: The group of businesses included in the service agency category is among the few for which standard inland marine forms have been especially tailored. The bailees coverage forms make up the best insurance available for property of customers. Other coverages are also suitable for these risks.
Retail Businesses: Available inland marine insurance includes: Accounts Receivables floater, Bailee's customer floater, Electronic Data Processing Policy, signs coverage, and valuable papers and records. Specialized floaters are available for jewelers, furriers, camera and musical instrument dealers, fine art dealers, as well as floor plan floaters for automobile and boat and recreational vehicle (RV) dealers.
Families: A number of personal belongings are subject to considerable risk of loss because of their high value and the fact they are moved from place to place. Inland marine forms are available to insure a single item of great value or all personal belongings owned by a family. Inland marine forms available include: personal articles floater, fine arts floater, fire arms floater, golf equipment floater, jewelry and furs floater, musical instrument floater, silverware floater, stamp/coin collection floater, and tools and equipment floater.

Improve the cost-effectiveness of your business insurance protection. Contact us today.