Businesses involved in shipping, construction, manufacturing, and those that transport valuable equipment or goods often require inland marine insurance to protect their assets.

Inland marine insurance specifically covers movable property and goods in transit, while standard property insurance generally covers fixed locations and structures. Inland marine is designed for items that are not confined to one location.

Yes, many inland marine policies can include coverage for rented equipment. It’s important to discuss your specific needs with your insurer to ensure adequate protection.

Common exclusions may include damage due to wear and tear, mechanical failure, or inherent vice (the natural characteristics of the item that may lead to its damage). Always review your policy for specific exclusions.

Coverage limits can vary based on the insurer and the specific policy. It’s essential to discuss your needs with an insurance broker to determine appropriate limits based on the value of your property.

To determine the value of your property, consider factors such as replacement cost, current market value, and any depreciation. An inventory list can help assess total value effectively.

If your goods are damaged during transit, document the damage with photos and keep all relevant receipts and shipping documents. Notify your insurance provider as soon as possible to initiate a claim.

You can lower your premiums by maintaining a good claims history, implementing security measures for transporting goods, bundling policies with the same insurer, and regularly reviewing your coverage needs to avoid over-insurance.