Inland Marine Insurance
What Is Inland Marine Insurance?
Inland Marine Insurance covers the transport of both goods and property over water, as well as on land. Coverage for these expanded exposures protects items anywhere, not just within a certain distance from your business address or the address listed on your policy.
Why Do You Need Inland Marine Insurance?
If you or your employees transport any kind of property or merchandise, or you have unfinished construction projects, you need Inland Marine Insurance. If you are responsible for any of the following key industries or types of properties, you may need Inland Marine Insurance:
- Manufacturers, wholesalers, retailers, and distributors shipping goods
- Construction equipment, tools, and materials
- Fine art collections or individual pieces
Inland Marine coverage is crucial if you have property that you move on a regular basis. Your auto and property insurance policies may not fully cover what is inside the transporting vehicle. Carefully read all transportation contracts because, most likely, your items will not be covered except when handled by the transportation company’s employees (i.e., during loading/unloading, etc.).
Inland Marine Insurance Is For Everyone
You may need to transport important documents, computers and the data contained on them, signage, and merchandise to be shipped—and an Inland Marine policy can cover all of that. Even the property of others can also be protected while in your possession; for example, if your business deals in cleaning, servicing, or repairing.
Claims Scenario: Robbed In Transit
An appliance distributor paid a third party transportation company to move merchandise from the warehouse to the store. While in transit, thieves robbed the truck driver and stole all the merchandise on the truck. The distributor falsely believed that the transportation company’s insurance covered their appliances. The policy did cover them, but only when the transportation company’s employees handled the appliances.
The distributor received compensation for their stolen goods only through an aggressive negotiation with the insurer. If they had had Inland Marine Insurance in place from the beginning, the process would have been quick and easy.
The Brunswick Advantage
Brunswick Companies offers commercial insurance policies from a wide range of top ranked carriers. With over 35 years of commercial insurance experience, we have the know-how and industry contacts to match your needs with the plan that best suits your risk management and financial goals.