Understanding Inland Marine Insurance

When suggesting inland marine insurance coverage, you may get a confused response from your clients. Despite the nautical-themed name, inland marine insurance is simply a type of Property Insurance that covers different kinds of movable properties or items that wouldn’t otherwise be covered under a standard property insurance policy. This type of insurance was developed as an offshoot of marine insurance, which was offered as an “all-risk” coverage for cargo back when shipping goods was done mainly by ocean. As technology advanced and shipping and business opportunities moved inland to railroads, and later to trucks, marine insurers adapted their policies to cover inland shipping options as well.

What Does Inland Marine Insurance Cover?

Over time, the inland marine insurance definition has evolved to include coverage for a wide range of items, including but not limited to:

  • Property in transit, such as film equipment being transported from a set to a filming location, athletic team equipment being transported to an away game or carnival equipment being moved to the next venue.
  • Property being held by a bailee for reasons such as cleaning, refurbishing or repairing. Bailees are typically businesses like dry cleaners, jewelry or watch repairers, furriers, furniture or appliance repair shops, electronic repair shops, etc.
  • Property in temporary care, such as artwork on loan for exhibit.
  • Movable property, such as construction equipment, medical equipment, tools belonging to a tradesperson or repair professional, testing equipment, musical instruments or equipment, etc.
  • Property that stays in a fixed but movable location, such as the equipment inside of a food truck or ice cream truck, but not the truck itself.
  • Property that aids in the transfer of information, namely any type of computers or servers, and can also even include radio towers.
  • Unique or valuable property, like decorations, memorabilia or artwork that can’t otherwise be insured with standard property insurance policies.

What Does Inland Marine Insurance Exclude?

Because inland marine insurance is written to insure properties that are excluded by other types of insurance policies, the exclusions may vary. It is important to note, however, that while inland marine insurance protects property in transit, it does not include coverage for the actual vehicle that is being used for transportation.

Inland marine insurance coverage generally provides all-risk coverage, which protects against all forms of peril unless otherwise excluded, but it can also be written to only cover named perils. Inland marine insurance follows the insured property wherever it goes, and because of the flexibility of coverage offered, it’s a great tool for businesses that don’t fit into the standard business model mold.


About AmSuisse

Formed in 2013, AmSuisse, Inc. has quickly distinguished itself as a wholesale operation that specializes in working very closely with our agents and broker partners to develop responsive, individualized service for each client. Our unparalleled writing support, industry-specific expertise, marketing support, responsive proposals and quotes, strong customer service, and strong relationships with our carrier partners have all helped us to provide the best possible coverage for our clients. To learn more about our available coverage, contact us today at (800) 485-0229 to speak with one of our representatives.