Inland Marine Insurance in Utah

For businesses with property that moves, travels, or is regularly used away from a fixed location, insurance needs can be shaped by tools, equipment, property in transit, installation materials, valuable items, and customer property. A policy should reflect the way the risk is actually used or operated rather than relying only on a broad category label.

Insurance options can vary considerably between companies. Direct Insurance Servicescan help clients in Utah compare available policies and review important differences in coverage, limits, deductibles, eligibility, and exclusions.

Why Is Inland Marine Insurance Important?

Despite its name, inland marine insurance is not limited to boats or property near water. It is commonly used to insure movable property, specialized equipment, goods in transit, and property that does not remain at a single business location.

The goal is not simply to purchase a policy with the lowest premium. It is to understand the exposures involved and select insurance that fits the individual, property, vehicle, or business as closely as possible.

Inland Marine Insurance Coverage Options

The appropriate coverage depends on the specific situation. Options may include some of the following protections.

Contractors’ Equipment Coverage

Contractors’ equipment coverage may help protect portable tools, machinery, and equipment used at jobsites.

Installation Floater Coverage

An installation floater may help protect qualifying materials and equipment while in transit, awaiting installation, or being installed at a project.

Motor Truck Cargo Coverage

Cargo coverage may help protect eligible customer property being transported by a motor carrier.

Bailee Coverage

Bailee coverage may help protect customers’ property while it is in the business’s care, custody, or control.

Scheduled Valuable Property

Inland marine forms may also be used for cameras, fine arts, computers, medical equipment, or other valuable property with specialized exposures.

Inland Marine Insurance FAQs

What does inland marine insurance cover?

Inland marine insurance can cover certain movable, specialized, or valuable property that travels away from a fixed business location or does not fit neatly under ordinary property insurance.

Why is it called inland marine insurance if it has nothing to do with boats?

The name developed historically from marine insurance as commerce moved inland. Today it commonly covers property in transit, equipment, tools, valuable property, and other specialized exposures.

Does inland marine insurance cover contractors’ tools at job sites?

It can. Contractors’ equipment and installation floaters are common forms of inland marine coverage for qualifying property away from the main premises.

Can inland marine cover property while it is being transported?

Yes, many inland marine forms are designed for property in transit, although territory, conveyance, valuation, and causes of loss vary by policy.