What Is Inland Marine Insurance and Who Needs It?

Inland marine insurance is a specialized type of policy that can address potentially catastrophic coverage gaps left behind by standard commercial property insurance. Many North Carolina businesses and contractors may be unaware of the importance of this type of policy, leaving valuable equipment, tools or inventory uninsured on a regular basis.

Understanding Inland Marine Insurance

In contrast to marine insurance, which can financially protect goods shipped over water, inland marine insurance is designed to cover physical property transported over land, filling gaps left by commercial property policies that typically won’t extend beyond your business’s own premises. Specifically, this coverage can provide financial protection for equipment, tools, electronics, construction materials and other valuable items while they’re being transported, installed or stored off-site.

Who Typically Needs Inland Marine Insurance?

Inland marine insurance is generally advisable for businesses that regularly move tangible assets off-site, including transporting them to other locations or storing them at a client’s property. The following parties might often face extensive financial risks if they fail to maintain suitable coverage:

• A contractor or builder who transports tools and equipment to job sites
• A business owner with mobile equipment, such as landscaping or cleaning machinery
• An artisan or vendor who attends trade shows or markets
• A company storing inventory at multiple locations or in transit between warehouses

Essentially, if your business relies on property that isn’t always at your main address, inland marine insurance can help protect your investment.

How We Help Businesses in Beaufort, NC & Morehead City, NC Cover Their Property

At Willis Insurance, we understand the unique risks faced by businesses and contractors in the Tar Heel State. Our team works to help make sure your valuable property is covered, whether it’s on the road or at a job site, using suitable inland marine insurance.

Contact us today to discuss coverage options tailored to your needs.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.