What is Inland Marine Insurance?
Inland Marine Insurance cover helps to protect business property that is movable or used for transportation or communication purposes. It is essentially property insurance for property in transit over land.
While transporting property, anything could go wrong. In fact, collisions and theft are two of the most frequent causes of inland marine losses. Should something happen to the goods, materials or equipment, could you afford to replace them without insurance?
If your business is involved in moving equipment from place-to-place, for example, for shows, exhibitions or events, you will need to insure the value of the goods being transported and stored offsite. Should your equipment be damaged, Inland Marine Insurance will help to protect you from financial losses.
What else might I need to consider when buying Inland Marine Insurance?
The range and levels of cover you need will depend on the nature of your business operations, i.e. what sort of products, materials or equipment you are transporting.
If your business is involved in live music tours, safeguarding the specialist equipment being transported from venue-to-venue will be a priority. If you’re in construction, liabilities around the transportation of building materials, tools and equipment will be your focus. These aspects can all be tailored around your business.
In addition, you will need to consider the more standard covers that many businesses need, such as Public Liability Insurance and Employers’ Liability Insurance, as well as protection for your premises and contents, vehicles, and business interruption.