Inland Marine Insurance: Definition, Coverage | Insureon (2024)

Inland marine insurance closes thegaps in standard commercial property insurance. Property insurance protects your tangible assets stored at your main business site andup to about 1,000 feet away. It doesn't protect property that is stored beyond that distance or property that is in transit between business sites.

Inland marine insurance covers losses to five types of business property:

• Property that is moving over land between locations (e.g., construction equipment)
• Property that you keep at an off-site warehouse or facility (e.g., vending machines stored at a customer’s site)
• Property that is stored in a moving vehicle (e.g., a food truck)
• Property that is part of infrastructure (e.g., bridges, communication towers that an insured owns)
• High-value property stored at your fixed location (e.g., another person's artwork stored at an auction house)

Inland marine insurance does not cover:

• Stationary property at your main location
• Your business vehicles
• Damage from earthquakes and floods
• Property you ship by sea or by air
• Property damage that occurs prior to shipment

Inland marine insurance is a specialized form of property insurance. Not all small businesses need it. However, companies that fit the following profile should consider purchasing it:

• Frequently ship property by land
• Occasionally ship high-value property
• Have assets that move between business locations
• Have property stored at third-party owned locations
• Have property in a commercial vehicle that is constantly in motion (food truck, repair vehicle)