Inland Marine Insurance
Pinellas Park

Contrary to what the name might suggest, inland marine insurance doesn’t have much to do with boats. The term is a holdover from the original “ocean marine” insurance when ocean shipping was predominant. As time went on and inland shipping methods developed, the original name was modified to “inland marine.”

Inland marine insurance is a commercial policy that provides coverage for products, materials, and equipment when transported over land – whether by truck, plane, or freight train – or when a third party warehouses them. This protection is unique because rather than the policy being tied to a building or single location, it “floats” along wherever the insured property goes.

What does inland marine insurance cover?

Put simply, inland marine insurance coverage includes any property that can be moved, transported, or is involved in transferring information.

Examples of common risks covered by inland marine insurance are:

• Theft
• Fire
• Wind
• Hail
• Water damage

Depending on the policy and your business’s unique needs, inland marine may also offer coverage solutions such as:

• Mysterious Disappearance – missing property where you can’t discover the cause of the loss.
• Accidental Drop and Damage – product is lost or damaged when it is dropped or mishandled. This loss can occur during transit, loading, and unloading.

What does commercial inland marine insurance protect?

Inland marine insurance protection includes a wide range. Some protections include:

• Cargo
• Computer systems and personal computers
• Communications and networking equipment
• Medical and scientific equipment
• Photography equipment
• Tools
• Trade show exhibits

Do I need inland marine insurance?

It can be a little bit tricky finding out whether or not your business needs inland marine insurance. One of the best ways to figure it out is to ask yourself the following questions:

1. Does your company frequently move items from one location to another?
2. Does your business ship valuables?
3. Do you have to move work-specific tools to different work sites?
4. Do you own a company truck or car with specialized equipment?

If the answer to any of these questions is yes, you can benefit from an inland marine insurance policy.

What’s the difference between inland marine and cargo insurance?

Inland marine and cargo insurance are pretty similar, but they are not quite the same. As a business owner, you want inland marine protection because the coverage applies to your items or products being transported.

Cargo insurance is targeted at people like independent truckers who are temporarily responsible for their cargo. It covers liability for cargo that is damaged or lost due to perils such as fire, collision, or striking of load. These insurance policies are maintained by the cargo worker rather than the business they are working with.

What are the different types of inland marine insurance?

Inland marine insurance comes in a few different forms. As you saw earlier, there’s the standard form, and then there are a few different types of targeted policies that go by another name but still fall under the umbrella of inland marine insurance.

Some of these specialized policies are:

• Bailee’s Customer Coverage – protects client property left in the care of your business
• Builder’s Risk – protects structures and any materials during new construction projects or renovations
• Exhibition and Fine Art Coverage – covers your valuable items while they are on exhibit, in transit, or on loan
• Installation Floater – protects items and materials from the moment they are loaded on a truck until they are put to use or installed
• Motor Truck Cargo Coverage – covers your clients’ goods while your business or truck transports and delivers them
• Contractor’s Tools and Equipment – protects mobile tools and equipment less than five years old and worth less than $10,000

Does inland marine have a coverage limit?

Inland marine insurance does have a coverage limit, which means your insurer will only reimburse you up to the limit stated in your policy. However, you can choose the limit. If your equipment is less expensive, you can select a lower limit and pay a smaller premium month to month. In reverse, if your equipment is more expensive and you want it protected fully, you can choose a higher limit and pay a larger premium month to month.

It can be difficult—even frustrating—finding out exactly what coverage you need to best protect yourself and all the hard work you’ve put into your business. This is where we can help.

As professionals in the field of inland marine insurance, we make it our business to know you and your concerns. We spend time learning and listening to better serve you, our client.

You’ve worked hard to build your business. The next step is to protect it. We’ll assess what your risks are and help you tailor an insurance policy for your business.

We’d love to chat with you. Contact an inland marine insurance agent near you today! 

Frequently Asked Questions

• What is food manufacturing insurance?

  Food manufacturing insurance covers a wide range of policies available to help protect against the risks faced by food and beverage manufacturers and bakeries. There isn't a single bakery insurance policy that covers your entire range of risks instead, policies are tailored to fit the specific needs of your company! Your business is unique, which means your insurance needs to be unique as well. There are coverage options for every type of food manufacturer or processor you can imagine. Some examples include:

  • Commercial Bakeries
  • Dairy Processors
  • Grain Millers
  • Meat Processors
  • Nut Hullers
  • Pasta Manufacturers
  • Poultry Processors
  • Frozen Food Manufacturers
  • Breweries
  • Confectionaries
• What is farm and ranch liability coverage? 

  Farm liability coverage is different from general liability coverage, even though they sound very similar. General liability is just that  general. Farm liability can be broken down further into more specific coverages. Here are a few types of specific liability policies available for different agricultural industries. 

  • Farmers Market/Roadside Stand
  • Agritourism/Agritainment
  • Equine Operations 
  • Farm & Agricultural Pollution 
  • Seedmen's Error & Omissions
  • Liquor Liability
• Who needs family fun center insurance?

  Every family entertainment center can benefit from a customized  insurance policy. If you're wondering whether your business qualifies as a family fun center, the following definition may help. Family fun centers are businesses with games, devices, and attractions designed and manufactured only for the bona fide amusement purposes of the general public. Some examples of businesses and operations covered by family fun center insurance include:

  • Trampoline Parks
  • Obstacle Courses
  • Bowling Alleys
  • Ice Skating Rinks
  • Roller Skating Rinks
  • Miniature Golf
  • Batting Cages
  • Go-Kart Facilities
  • Outdoor Driving Ranges
  • Ride Simulators
  • Escape Rooms
  • Indoor Laser Tag
  • Arcades
• What does professional liability insurance look like?

  Not every professional liability insurance policy looks the same. Claims-made and occurrence policies are the two most common coverage options. While both give you a second line of defense, they have fundamental differences.

  1. Claims-made policies only cover a claim if both the service or advice was provided and the lawsuit was filed while the policy was active.
  2. Occurrence policies will cover claims that take place during the coverage period, even if the treatment did not occur during the active policy.
• What does family entertainment center insurance cover?

  Family entertainment center insurance policies generally cover the same things.

  • General Liability
  • Commercial Property
  • Commercial Auto
  • Workers Compensation
• What does dude ranch insurance cover?

  Guest ranch insurance policies generally cover the same things.

  • General Liability
  • Commercial Property
  • Mobile Equipment Coverage
  • Commercial Auto
  • Crime Coverage
  • Workers Compensation
  • Abuse and Molestation
• What is captive insurance?

  A captive insurer offers insurance policies created explicitly for a specific industry by a specific industry. Captive insurance is unique because the companies are entirely owned and operated by the insureds.

  Captive insurance agencies are organized and used by insureds when the standard products offered by traditional insurance companies don't meet the risk financing needs of the insureds. While it can be a good alternative insurance option, there are a couple of things to keep in mind.

  1. Those who participate in captive insurance put their own capital at risk
  2. Captive insurance works outside of the commercial insurance marketplace

  Advantages of captive insurance

  • Coverage is often tailored to the exact needs of an industry.
  • Well-established captive insurers have a greater ability to retain risk and protect against rapid fluctuations occurring in the commercial market.
  • Participants have ownership of the company and have a say in business services and decisions.
  • You don't have to pay an overhead covering a commercial insurer's acquisition costs, admin, overhead, and profit.
  • Improve cash flow through reduced insurance costs, insulation from market fluctuations, and more time available for you to spend focused on your business.
  • Insurance programs and policies can be customizable.
• What does a BOP cover?

  A BOP might be an excellent insurance solutions for your small business because it allows you to get several critical policies within one place. Most offer:

  • Property & Contents Insurance 
  • General Liability Insurance
  • Business Interruption Insurance
  • Cyber liability insurance
  • EPLI coverage
  • professional liability (E&O) coverage
  • D&O coverage

  Let your agent help you decide the right way to obtain this additional coverage.

• What insurance do bakeries and food processors need?

  The exact coverage you decide on will vary based on your business's needs and risks. However, a few types of food manufacturing and bakery insurance coverage we recommend including the following:

  • General Liability
  • Commercial Property 
  • Bakery Manufacturing Insurance  
  • Bakery Equipment
  • Equipment Breakdown
  • Spoilage Coverage
  • Workers Compensation
  • Commercial Auto
• How much will haunted house insurance cost?

  The best way to answer this question is, It depends. Your premium will depend on how much risk you're willing to carry, combined with factors that determine how much risk your haunted house faces. Some of these risk-determining factors include:

  • How many attendees your haunted house has per day.
  • Estimated gross sales receipts.
  • Payroll.
  • Whether your haunted attraction is indoors, outdoors, or a combination of the two.
  • Staff and volunteers trained in first aid.
  • Location of the closest medical facility.
  • Number and type of special effects that are used throughout the haunt.
• What does medical liability insurance look like?

  Claims-made and occurrence policies are the two most common coverage options. While both give you a second line of defense, they have key differences.

  Claims-made policies only cover a claim if both the treatment occurred and the lawsuit was filed while the policy was active.

  Occurrence policies will cover claims that take place during the coverage period, even if the treatment did not occur during the active policy.

• What does haunted house insurance cover?

  You can buy many types of haunt insurance, but what's included in your policy depends on what you need. Not every haunted house is the same, and your insurance is the same way.

  • General Liability
  • Commercial Property
  • Inland Marine
  • Commercial Auto
  • Workers Compensation
• How much does hospitality insurance cost?

  Unfortunately, there's no single estimate. You run a unique business with lots of different factors affecting your premiums. These factors include:

  • Your business's location
  • Additional services and activities offered
  • Square footage of your hospitality business
  • Presence of a pool
  • The type of food and drink you serve
  • How long your business has existed
  • Your hours of operation
  • The age of your building
  • Number of employees
  • Type of fire and security systems
• Is medical malpractice insurance required near you?

  Medical professional liability insurance requirements vary from state to state. Malpractice insurance is required in these states:

  • Colorado
  • Connecticut
  • Kansas
  • Massachusetts
  • New Jersey
  • Rhode Island
  • Wisconsin

  The following states have claim-assistance programs requiring you to have a minimum amount of malpractice insurance coverage to participate:

  • Indiana
  • Louisiana
  • Nebraska
  • New Mexico
  • New York
  • Pennsylvania
  • Wyoming
• What manufacturing insurance coverage do I need?

  The exact coverage you choose will vary because your company and its risks are unique. However, there are some core policies we strongly recommend for all manufacturing company owners.

  • Workers Compensation
  • Commercial Auto
  • Professional Liability
  • Business Owners Policy (BOP)

  The coverages listed above don’t cover everything. Depending on your manufacturing company, you may also benefit from the following policies:

  • Earthquake
  • Umbrella
  • Equipment Breakdown
  • Manufacturers Errors and Omissions
  • Product Recall and Replacement
• Who needs manufacturing insurance?

  Anybody with a manufacturing company. Consider doing a brief self-evaluation by asking yourself the following questions:

  • Does your company have the finances to survive a mass product recall?
  • Can your manufacturing facility afford excess downtime if a natural disaster happens?
  • Will you be able to repair or replace heavy machinery if it breaks down?

  If your answer to any of these questions is yes, it is strongly recommended that you protect yourself and your business with manufacturing insurance.

• Who needs malpractice insurance?

  Medical malpractice insurance is essential for anyone who provides healthcare services. You may be covered under your employer. However, this coverage may have limitations, so make sure to find out what these limitations are from your local ARCW Insurance insurance agent.

  Remember, it's not just physicians and surgeons who need medical liability insurance. Other medical professionals can benefit from coverage, including:

  • Social workers
  • Therapists
  • Counselors
  • Physical therapists
  • Pharmacists
  • Nurses
  • Dentists
  • Radiologists
• What kind of insurance does my property management company need?

  Your policy will vary depending on the services you provide and whether you're purchasing insurance for yourself or your business. Potential coverages you should consider may include:

  • Professional Liability/Errors & Omissions
  • Cyber Liability
  • Commercial Liability 
  • Business Auto
  • Hired & Non-Owned Auto
  • Workers Compensation
• Do I need warehouse insurance? 

  Whether you need warehouse insurance ultimately depends on your business's ability to recover from financial loss. You can do a fast self-diagnostic by asking yourself the following questions: 

  • Can you afford to replace your clients’ lost property? 
  • If a client or prospect is touring your facility and is injured, can you afford their medical bills? 
  • Do you know the exact value of the items you’re storing? 

  If your answer to any of the above is no, then you may consider purchasing insurance for your warehouse. 

• Who Needs Workers Compensation Insurance? 

  Every business does. Many business owners feel that if their employees are independent contractors because they get 1099's instead of W-2's. This does NOT matter.

  What matters is whether they do this type of work for anyone else (like a contractor who has their own insurance, vehicle, and tools), and the issue of control where the employer tells them how and when to do their job.