Inland Marine Insurance

Inland marine insurance covers movable property and equipment that travels between locations or is stored temporarily away from your main place of business. Despite the name, it has nothing to do with water. The term dates back to when marine insurance was extended to cover goods moving overland from ports.

For trucking companies, inland marine insurance can cover tools, specialized equipment, mobile offices, and other business property that is not permanently attached to your vehicles. This is different from cargo insurance, which covers freight belonging to others that you are hauling. Inland marine covers your own business property while it is in transit or at a job site.

Common inland marine policies for trucking operations include equipment floaters for tools and accessories, installation floaters for items being transported for installation, and contractors equipment coverage. If you carry valuable equipment in your truck beyond what is bolted to the chassis, inland marine insurance protects that investment against theft, damage, and loss.

Not the Same as Motor Truck Cargo

Inland marine is the broader family. Motor truck cargo is one inland marine coverage, for your customers' freight; an equipment floater is another, for your own tools and equipment. What Motor Truck Cargo covers.

Example

An owner-operator keeps a $6,000 set of diagnostic tools and a generator in the truck. If they are stolen from a truck stop, an equipment floater is the inland marine coverage in play, not the cargo policy.