Inland marine
Coverage for tools, equipment, materials and property that move: on job sites, in transit or in someone else's care. Despite the name, it has nothing to do with boats.
What it generally covers
- Contractors' tools and equipment, on site or on the road
- Installation materials before they're part of the finished job
- Goods in transit between locations
- Property in your care that belongs to customers (bailee coverage)
- Specialized items like computers, signs or valuable papers
Who usually asks about it
- Contractors and trades with tools and equipment
- Businesses that ship or carry goods
- Repair shops and businesses holding customers' property
- Anyone whose property policy stops at the front door
Common questions
Why is it called inland marine?
It grew out of ocean marine insurance for shipments, then expanded to cover property that moves over land. The name stuck.
Doesn't my property policy cover my tools?
Property policies are mainly built for items at your location. Tools and equipment that travel are usually better covered with an inland marine floater.
What do you need to quote it?
Usually a list of equipment with values, or a total for smaller tools, and where the equipment is typically used.
General information only. Coverage depends on the policy's terms, conditions and underwriting. A licensed agent can review what fits your situation.