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Inland Marine Insurance from Massachusetts Agents

What is it?

Inland marine insurance helps protect equipment, inventory and other goods as they’re transported between locations. Almost anything that’s shipped can be protected.

Who needs it?

Businesses that regularly move equipment or goods to, from, or between locations may need inland marine coverage to protect their assets. Few other coverages protect items while in transit.

Possible Coverages

Inland marine insurance commonly offers coverage for goods as they’re:

  • Delivered to a business’s location
  • Sent to customers’ locations
  • Moved between worksites
  • Otherwise moved along roads or rails

What is inland marine insurance?

Moving goods between locations exposes the items to potential risk, for shipments can sustain damage, be stolen, or be lost for any number of other reasons. Inland marine insurance helps Massachusetts businesses protect their assets as the goods are moved between locations.

Inland marine insurance is highly specialized commercial property insurance that specifically protects covered shipments of goods. Because this is such specialized coverage, businesses would be wise to consult an insurance agent who specializes in inland marine policies when looking for coverage. 

What businesses in Massachusetts should purchase inland marine coverage?

Massachusetts businesses that regularly send goods intrastate or interstate can likely benefit from the protections of an inland marine policy. The following examples are a few businesses that might want coverage:

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    • Contractors: Coverage may protect expensive equipment as it’s moved between projects
    • Landscapers: Coverage may protect lawn equipment as it’s regularly moved between customer locations
    • Distributors: Coverage may protect inventories of samples as they’re taken to customer locations
    • Wilderness Tours: Coverage may protect sports equipment as it’s transported to/from tour sites
    • Multi-Site Businesses: Coverage may protect equipment and inventory as they’re moved between locations

An insurance agent who specializes in inland marine coverage can help businesses determine whether this coverage makes sense for them.

Inland Marine Insurance Massachusetts

Should individual residents purchase inland marine coverage?

Most individual residents don’t need inland marine coverage, as even an expensive package that’s stolen likely won’t exceed a policy’s deductible. Residents who still think this insurance might be beneficial to them should speak with a knowledgeable agent about their situation.

Does commercial property coverage extend to goods that are transported between locations?

Commercial property coverage often protects many of the same assets as inland marine coverage does. Both types of insurance may cover equipment, inventory and other goods.

The two insurances differ in when they extend protection to a business’s assets, however. Commercial property coverage normally limits protection to only when goods are at a business’s location. Inland marine converge typically covers goods as they’re moved between locations.

Thus, commercial property and inland marine are usually complementary to each other.

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Are inland marine coverage and ocean marine coverage the same?

Inland marine coverage and ocean marine coverage are two distinct types of insurance, even though both generally insure goods while they’re in transit. Again, the insurances differ because they extend coverage in different situations (and not because they cover different goods).

Inland marine policies usually insure goods that are moved within a country or continent. The term “inland marine” stems from when goods were primarily shipped via canals, rivers and lakes. The coverage has been updated for more modern modes of transportation, but it still often limits coverage to inland transportation.

Ocean marine policies typically insure goods as they’re transported between continents, or across seas. The term “ocean marine” stems from when goods were shipped over major waterways, such as oceans and seas. The coverage frequently still includes goods sent by container ship, but it can include other modes of inter-continental transportation too.

How can Massachusetts businesses get quotes for inland marine insurance?

For assistance with inland marine insurance, contact the independent insurance agents at Northwood Insurance Agency. Our agents are well-versed in this coverage, and we can help you select the best policy from several quotes that Massachusetts insurance companies offer.

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