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What is Inland Marine & Do Your Clients Really Need It?

Inland marine coverage, as opposed to conventional business property coverage, provides coverage for precious business tools and equipment that contractors transfer from one job site to another.

A wide range of property insurance products are offered by Inland Marine, which typically covers loss to moveable items from uncommon risks.


Inland maritime insurance for personal lines covers items including jewels, fine art, sporting goods, and musical instruments.


Commercial lines inland marine coverage may include, but is not limited to, policies like Equipment Floaters, Builders Risk, Jewelers Block, and Difference in Condition.

High-value objects owned by a business that are excluded from typical business owners policies can be protected by inland marine insurance. A company that ships or delivers goods will want to make sure their assets are protected.


This kind of insurance is either offered as a standalone policy or as an add-on to an already-existing business insurance policy.


Items with significant value that are normally not covered by property insurance might be helped by inland marine insurance.

The cost of repairing or replacing covered property that has been harmed by one of the covered occurrences, such as theft, fire, wind, hail, or water damage, is part of the coverage's assistance. 


This kind of protection could also cover loss or damage brought on by negligence, accident, or in the event that anything goes missing for an unknown reason.

Greenwood General Insurance Agency is staffed with seasoned Underwriters ready to assist you in your risk submissions to ensure all the necessary information is provided. The Underwriters at Greenwood specialize in providing our brokers with everything they need to ensure their success.

Contractor's tools and equipment insurance is a good option for small construction and contracting enterprises who want to cover assets under $10,000.


Mobile tools and equipment moved to several working locations are covered by this inland maritime coverage. The term "equipment floater insurance" is sometimes used.


During a specific construction project, equipment and supplies are safeguarded by a comparable policy called builder's risk insurance. It also includes ongoing buildings.

Similar assets, although located in different places, are covered by inland marine and general liability insurance.


The office or another central location is typically the site specified on the policy, and this is where your equipment, tools, and supplies are insured. It protects your possessions while they are stored.


On the jobsite or while traveling, they are covered by an inland marine policy. When your assets are in use, it protects them.

Contractors can benefit from both coverages, which guard against damage to their tools and equipment as well as damage caused by their tools and equipment.


Another significant distinction is that most contractors typically need general liability insurance. Inland marine insurance is an optional and not necessary policy.

Here at Greenwood, we focus on fast communication and easy applications, which is what makes our brokers so successful. Get started by booking a free demo with our Business Development Manager.

Greenwood General Insurance Agency

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Greenwood General Insurance Agency

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