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What is Inland Marine Insurance?

Anything that’s transported between two locations is exposed to multiple risks while it’s in transit. Theft, damage and loss are all possibilities that must be safeguarded against. Inland marine insurance helps businesses in Massachusetts protect their goods while in transit.

Inland marine insurance is a specialized type of commercial property coverage that’s specifically designed to safeguard items while they’re being transported from one location to another. Many policies offer coverage while items are being transported by in-house employees as well as by third-party carriers.

What Businesses in Massachusetts Need Inland Marine Coverage?

There are many Massachusetts businesses that might benefit from having inland marine coverage. In short, any organization that regularly moves expensive loads of cargo ought to consider getting a policy. This includes (but isn’t limited to):

     • Construction companies that transport large equipment to building sites
     • Distributors that have salespeople bring lots of samples to customers
     • Landscaping businesses that bring mowers to customers’ sites
     • Backcountry tour outfits that carry expensive gear to trails
     • Multi-site corporations that transport goods between their locations

Businesses that are unsure whether their operational transit needs justify purchasing a policy should speak with an informed insurance agent. An agent who specializes in inland marine coverage will be able to assess a business’ situation and make an informed recommendation.

Inland Marine Insurance Massachusetts

Should Individuals Purchase Inland Marine Coverage?

While most people don’t need inland marine coverage, this may be a useful protection for certain people to carry. Policies can sometimes be adapted to insure packages even before they’re delivered, and anyone who orders a lot of expensive items online might want a policy for this protection.

Do Businesses Need Inland Marine Coverage When Shipping Via Third-Party Carrier?

Most third-party carriers have at least some insurance for the goods they transport, but the amount of coverage they provide may be limited. Depending on what a business is shipping, a carrier’s coverage won’t necessarily cover the full value of the goods. Additional coverage is often available for purchase, but the price for supplemental coverage is frequently high.

An affordable way to make sure goods are properly protected throughout shipping is to purchase an inland marine policy that includes such coverage. While protections vary from policy to policy, many policies make the necessary coverage available.

Do Businesses with Commercial Property Coverage Need Inland Marine Coverage?

Businesses that have commercial property policies still stand to benefit from the protections offered by inland marine policies. Lots of commercial property policies only cover goods while they’re on company property, which can lead to goods being uninsured while they’re transported. An inland marine policy might be able to fill in that gap if it exists.

Inland Marine Insurance Massachusetts

How Does Ocean Marine Coverage Differ from Inland Marine Coverage?

In the early days of in-transit insurance coverage, many goods were shipped by waterway. They either went overseas by ship, or inland via canals, rivers and lakes. This division gave rise to two types of insurance.

Ocean marine coverage generally protected items that were sent overseas. Today, these policies are often still used to protect items sent on container ships.

Inland marine coverage generally protected items that were sent via inland, or non-ocean, waterway. These policies are still widely used to insure items being shipped inland now, but most policies’ terms and condition have been updated to include more modern modes of transportation.

How Can Businesses in Massachusetts Get Inland Marine Insurance?

For help finding inland marine insurance, contact the independent insurance agents at John P. Russell Insurance. Our agents have helped many Massachusetts businesses with this coverage, and they have the expertise necessary to assist you in finding a good policy.

What Our Clients Say

"Thank goodness I have an agent who will go the extra mile for a client. I deeply appreciate it!"

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"John, you and your office have done a great job for us and I really appreciate it. You guys are very professional and considerate. That goes a long way with me".

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"Your staff did an exceptional job helping me with a recent claim. They took care of everything in a professional and prompt manner. They were very nice, extremely helpful, and took the burden off of me. Their help was greatly appreciated".

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