INLAND MARINE
INSURANCE
Contractors often need an inland marine policy to protect property like tools and equipment that are moved regularly or are typically used on client job sites.
WHAT IS INLAND MARINE INSURANCE?
Over time, commercial inland marine insurance has come to include coverage for equipment, machinery, and tools that aren’t tied to a fixed location or covered by a general liability policy.
DID YOU KNOW?
Inland marine insurance is an offshoot of “ocean marine insurance,” which dates back to the 1300s when property was mainly transported via oceans and seas.
WHY DO CONTRACTORS NEED INLAND MARINE COVERAGE?
GAPS IN COVERAGE
General liability coverage doesn’t protect the property that you transport and store on job sites.
WORK DISRUPTIONS
If the tools of your trade are damaged or destroyed off-site, you may not be able to work until they are replaced.
UNFINISHED PROJECTS
Those in the construction industry may find they are liable for buildings that are in progress but not yet complete.
