Inland Marine Insurance: Covering Property While It’s On the Move

**Inland Marine Insurance** is a specialized commercial property coverage designed to protect goods, equipment, and materials that are not at a fixed location. Despite the name, derived from historical coverage for goods transported by ship, today it primarily covers property on land, including in transit, stored off-site, or moved between job sites.

Why Standard Property Policies Fall Short

**Commercial Property Insurance** (Article 33) is intended to cover assets at the business’s scheduled address. However, many businesses have equipment or inventory that constantly moves. **Inland Marine Insurance** addresses this need with “all-risk” coverage against perils like theft, collision, and loss while the property is mobile.

Key Types of Inland Marine Coverage

**Contractor’s Equipment Floater:** Covers tools, machinery, and equipment used by builders, plumbers, or landscapers while they are being transported or used at a client’s location.
**Transit Coverage:** Protects raw materials, finished goods, or inventory while they are being shipped by land carriers.
**Dealer’s Coverage:** Protects the inventory of items like fine art dealers or musical instrument shops while the items are displayed, being appraised, or in transit to a buyer.

The “Floater” Distinction: Like a personal floater (Article 22), the **Inland Marine** policy “floats” with the property, providing coverage wherever it goes, within the covered territory.

For any business with high-value assets constantly leaving the premises, **Inland Marine Insurance** is a vital tool for comprehensive **commercial risk management**.