Understanding Inland Marine Insurance

World Wide Specialty Programs: Understanding Inland Marine Insurance

Commercial inland marine coverage provides businesses and firms with insurance for the materials, products and equipment they transport or ship overland by train or truck. It also provides insurance when a third party stores these items. As you might imagine, this kind of coverage is an important consideration and investment for any business that moves and transports property or uses it to convey information.

Claims Examples

Inland marine coverage encompasses claims that involve:

  • Cargo theft
  • Collision
  • Fire
  • Flood
  • Vandalism

Coverage Examples

If your business regularly ships products or materials – especially expensive equipment – you may want to consider investing in inland marine insurance.

Here are examples of the types of equipment it covers:

  • Computing
  • Construction
  • Medical
  • Networking
  • Scientific
  • Telecommunications
  • Transportation

In addition to equipment, inland marine insurance can cover highly valued fine art, such as paintings and sculptures, as well as furriers and jewelers’ products.

Coverage Calculation

According to World Wide Specialty Programs, an insurance provider and staffing industry expert, professionals calculate the amount of coverage by assessing and valuing a business or firm’s property as well as its equipment and supplies. Providers also assess the business interruption that a loss incurs. This customized approach means that you receive the inland marine coverage that is right for you and your company.