Inland Marine Insurance

Inland marine insurance picks up where ocean marine insurance leaves off. Inland marine policies generally cover items once they’re loaded onto a land-based vehicle (e.g. truck or train) or put in a third-party warehouse for later loading onto a vehicle.  

The phrase “inland marine” can be traced back to days when boats were the primary way to ship goods inland. Items were loaded off of ocean-going ships and onto smaller vessels that could navigate inland waterways. While the term has remained, policies’ coverages have been updated to include more modern and efficient modes of transportation.

(The exact coverages that a specific ocean marine or inland marine policy provides can vary.)

Who Can Benefit from Inland Marine Coverage?

Inland marine coverage is one of the few insurance policies that may be beneficial to both businesses and individuals.

Many different businesses frequently use this coverage to protect goods and equipment when they’re in transit. Just a few examples of businesses that might benefit from an inland marine policy’s protections include a:

• Landscaper who tows lawnmowers to clients’ sites
• Contractor who tows heavy equipment to job sites
• Videographer or photographer who brings expensive cameras to shoots
• Pharmaceutical company that mails lots of samples to reps

Residents who might benefit from inland marine coverage are usually people who do a lot of online shopping. A policy can help ensure that products are properly protected from the time they’re sent by a merchant until they’re safely delivered. 

Don’t Carriers Provide Insurance for Shipments?

While many carriers do offer insurance for shipments, the amount of coverage that’s automatically included when sending items doesn’t meet the needs of all businesses and individuals. High-value and high-volume shipments may exceed carriers’ standard insurance protections. In these situations, purchasing an inland marine policy is sometimes more affordable than paying a carrier for additional coverage.

How Can Businesses and Residents Get Inland Marine Policies?

Businesses and residents can get assistance with finding inland marine insurance by contacting an independent insurance agent in their area. While inland marine policies aren’t as widely advertised as some other types of insurance, many insurance agents are familiar with this type of coverage. An independent insurance agent can help compare policies from different insurers and identify the one that provides the best coverage for a particular business.