What is inland marine insurance?
Simply put, inland marine insurance provides coverage for your business property such as products, tools, and equipment, while it’s in transit over land or stored at an off-site location.
Does your business need inland marine insurance?
For many businesses, the property insurance provided by your Business Owners Policy (BOP) or Commercial Package Policy (CPP) may be sufficient. This type of insurance coverage typically only covers property that is housed at a specific location. So what does that mean for tools and equipment that travel with employees to nearby job sites? This is when you need that added layer of coverage. In this case that added layer of coverage is called inland marine insurance.