Protect Your Business with Inland Marine Insurance

The Basics of Inland Marine Insurance

Despite its name, inland marine insurance isn’t about covering your boat when it’s not on the water. This type of coverage is designed to protect unique property risks that traditional commercial property policies may not cover. Inland marine policy is one of the most versatile forms of property and casualty insurance, offering protection for property that is often moving, or at temporary locations. It applies to property that is off-premises, in transit, or subject to risks that aren’t typically covered under standard property policies.

Inland marine insurance covers four major types of property:

• Property being transported: Protects goods in transit from one location to another, whether by truck, train, or other means of transportation.
• Builders risk: Covers buildings under construction, offering protection for the structure, materials, and equipment on-site.
• Computer equipment: Provides coverage for valuable electronic equipment, including data and hardware, while in transit or at temporary work locations.
• Mobile equipment: Protects tools and equipment that are frequently moved or used off-premises, such as heavy machinery or contractor tools.

Why Is Inland Marine Insurance Important?

For construction professionals or contractors, inland marine insurance is an essential part of your overall business protection plan. It covers mobile equipment and other tools or materials that are crucial to your operations, ensuring they are protected from loss or damage, whether in transit or at the job site.

If your work regularly involves property being transported or working on construction projects, inland marine insurance provides critical coverage for tools, equipment, and unfinished projects that are subject to theft, damage, or loss along the way. Here’s why it’s so important:

• Builders risk: If you’re a contractor, this coverage protects the work-in-progress on construction sites, including buildings under construction and the materials required to complete the job.
• Mobile equipment: For businesses that rely on portable equipment and tools, inland marine insurance ensures that these items are covered when moved from site to site or temporarily stored off-site.
• Electronic data coverage: If your business uses computer equipment, this insurance also provides protection for the electronic data stored on those devices, as well as the equipment itself, when they are at temporary or off-site locations.

What to Discuss With Your Agent

Before purchasing inland marine insurance, here are some important factors to discuss with your independent insurance agent:

• The type of business you operate and the specific unique property risks associated with your industry.
• The types of mobile equipment you own, including tools, heavy machinery, and other items that move between worksites.
• Any property being transported, including equipment, supplies, or materials.
• The builders’ risk for construction projects you’re working on, especially if you own or manage properties under construction.
• How your tools and equipment are protected when left at a job site or at a temporary location.
• The reputation of the insurance provider for customer service, claims handling, and overall reliability.
• The responsiveness of the insurance agency staff, especially when it comes to generating certificates, processing policy changes, and managing claims.

Why Choose PDR Insurance for Your Inland Marine Coverage?

At PDR Insurance, we offer comprehensive inland marine policies that are tailored to meet the needs of businesses with mobile equipment, property being transported, and builders risk concerns. We work with top-rated insurance carriers to ensure that your computer equipment and other unique property risks are fully protected, no matter where they are located. Our expert team is dedicated to providing reliable, affordable coverage that gives you the peace of mind to focus on growing your business.

Contact PDR Insurance Today

Don’t leave your valuable assets exposed. Get the right coverage with inland marine insurance to protect your mobile equipment, property being transported, and builders risk projects. Contact PDR Insurance today at 801-316-1390 or visit our contact page to learn more and get a personalized quote.