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.
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.
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?
General liability coverage doesn’t protect the property that you transport and store on job sites.
If the tools of your trade are damaged or destroyed off-site, you may not be able to work until they are replaced.
Those in the construction industry may find they are liable for buildings that are in progress but not yet complete.
An AM Best-rated carrier
Add to your General Liability policy, if eligible
|Flexible coverage options
Installation floater, contractor's tools, scheduled and rented/leased equipment