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Inland Marine
Insurance

We offer flexible payment plans to fit any budget needs.

We offer flexible payment plans to fit any budget needs.

We've helped over 60,000 customers buy more affordable insurance coverage.

We've helped over 60,000 customers buy more affordable insurance coverage.

We shop your coverage with up to 35 national carriers.

We shop your coverage with up to 35 national carriers.

We shop your personal insurance to save you time and money.

What is Inland Marine Insurance?

Don't be confused by the name, inland marine insurance is not insurance for your watercrafts! It is coverage for your valuables that extends beyond your homeowners policy limits and exclusions. While the main job of this type of insurance is to protect commercial goods being shipped over land (ocean marine coverage applies over sea), it also covers personal property being shipped and expensive valuables that are stored at a home or business. Inland marine will cover just about any moveable or specialized type of property. Some examples of items that may need extra coverage include fur coats, construction equipment, musical instruments and even solar panels. Essentially, to be covered with inland marine insurance your item must be:

  • Property in transit, such as mobile camera equipment or laptop computers.
  • Property in the custody of bailee, such a furs at a dry cleaners or rings left with jewelers. (Note that this coverage is for the bailee (the dry cleaner and the jeweler), not the customer (bailor).
  • Property deemed to be an instrumentality of transportation or communication, such as wind turbines, piers and radio towers.
  • Specialized trade equipment, such as pet grooming equipment or portable medical equipment.
  • Contractors equipment, such as lift trucks or tools.

Many homeowners policies will exclude personal property not on premises at time of loss, or limit the coverage severely. Purchasing inland marine coverage will help cover those gaps left by your homeowners policy.

A unique factor of inland marine insurance is that it’s available as “peril coverage” or “all-risk coverage.” Peril coverage will compensate for damage done to the property that is caused by a peril that is specifically listed on the policy. All-risk coverage does the opposite. It covers all damage, regardless of what caused it, unless the peril is specifically excluded on the policy. In most cases, especially when shipping expensive personal items, choosing all-risk coverage is the best option. Contact one of our personal insurance specialists today to discover the gaps in your coverage and how we can help fill them.

Find your lowest business insurance rates.

Find your lowest
inland marine rates

We take the time to make sure your property is itemized and valued correctly, then we get to work finding the lowest rates available for your insurance coverage.

  • National inland marine specialists.
  • Licensed throughout the United States.
  • Multiple carrier discounts available.
Compare quotes from over 35 carriers.

Compare quotes
from over 35 carriers

Once we've got your best quotes back from our carriers, we take the time to help you understand your options and take the next steps to get you covered quickly.

  • Easy and fast quoting and binding process.
  • We'll help you insure both high value and high emotional value items.
  • We continue to follow up after binding; our service to you never ends.

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Inland Marine Insurance
We shop your personal insurance to save you time and money.

Why Do I Need Inland Marine Insurance?

Most shipping companies have exclusions and low limits of insurance for your shipped items. For example, UPS doesn't cover cash, precious stones or coins. According to Bankrate.com, "a shocking 23 million Americans have packages stolen from their homes by porch pirates every year." In many cases the shipper isn't liable for the package once it's delivered and your homeowners policy will not likely cover much, leaving you with lost items and money. Inland marine will cover those losses as well as any loss of items you ship. Those who sell on online through vendors such as Ebay and Etsy would greatly benefit from inland marine insurance.

Inland marine insurance not only protects personal property in transit, it also expands the protection of a homeowners policy, especially on high-dollar property such as furs, musical instruments and even silverware. There are specialized inland marine policies for such property as stamp and coin collections, fine art and golf equipment. Talk to a specialist today to see how you could benefit from an inland marine policy.

What Does Inland Marine Insurance Cost?

Your inland marine policy premium will be dependent on the items you are insuring. Some factors that go into producing your premium include the following:

  • Geographic location.
  • Safety and security measures.
  • Age and condition of item/property.
  • Type of property.
  • Replacement value or actual cash value option chosen.

What are Common Inland Marine Claims?

Most commonly inland marine claims are for lost or stolen property due to truck collision, as reported by the National Highway Safety Administration, NHSA. However, on the personal property side, the FBI reports almost nine million property crime offenses in the U.S., in 2012. With a rate of roughly 3,000 per 100,000 residents, about three in every twenty people have a property loss each year. Another shocking result of the FBI report on property crime is that losses in 2012 were estimated at $15.5 billion, and this number is not falling year to year. Take advantage of an inland marine policy, more often than not you won't need it, but you'll be glad for it when the unexpected happens and your personal assets are at risk.

How Can I Reduce my Risk?

The best way to prevent losses to your personal property, whether it be in your home or in transit, is to ensure it is kept in a safe and secure place at all times. For example, your expensive musical instruments shouldn't be kept out in the open, in your car, home or otherwise. Your electronic equipment often contains personal data, which may turn a simple property loss claim into an identity theft case. Securing electronics with passwords and locked cases, as well as fall-backs, such as the ability to erase data remotely, will help deter theft and prevent loss. If you are unsure how to protect your collections, jewelry, equipment or any other piece of property, consulting with a safety officer, or even your insurance agent, can get you started down the right path.

Frequently Asked Questions

  1. Is inland marine the same thing as a floater?
  2. Essentially, yes, inland marine policies are sometimes called floaters since the coverage travels with the property. Inland marine is also known as tools & equipment coverage on the commercial side.

  3. Can inland marine cover my gun collection?
  4. Absolutely, inland marine can cover just about any type of collection. One big exception are car collections, those should be insured through a specialized auto policy.

  5. Does inland marine cover my trucks used to ship goods?
  6. No, it does not cover the actual vehicle that you use to transport property. For that, you might need commercial auto insurance or hired and non-owned auto insurance.

Insurance Services

Our Special Products and Services Make Us Better

Whether you are looking for the best coverage or to save more money over your current policy, our fast and friendly service staff is always here to help. As we work with numerous carriers across the United States we can offer more products at the best competitive rates. We at The Insurance Shop don't stop there, we also have a highly trained and experienced customer service team who guide and support you both before and after you've obtained your coverage.

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