Inland marine coverage is a type of property insurance coverage that covers property that is in transit. This coverage can include property that is being transported via water, as well as property transported via land. Businesses commonly purchase this type of coverage.
Businesses often use inland marine coverage to cover property kept on the premises of a business or in transit either to or from the premises. Policies can also provide coverage for company property transported via an employee's vehicle, such as property that is taken by an employee to a client.
Insurance companies often recommend businesses purchase Inland marine coverage in addition to standard property insurance policies. Standard property insurance may only cover the items that are within a certain area of the business address, while inland marine coverage provides coverage for property that is being kept off site.
Examples of circumstances where inland marine coverage could be necessary include the transportation of property that is in the custody of a bailee, property that is necessary for transportation or communication, equipment used by contractors and mobile medical equipment. Examples of property that may be covered include musical instruments, museum exhibits, jewelry, valuable documents, photographic equipment, exhibitions and diagnostic equipment.