Replacement coverage for your mobile assets.
Equipment Coverage
Equipment Coverage or Inland Marine Insurance is a type of insurance policy designed to provide coverage for property that is in transit, off-site, or held by a third party. It is intended to offer replacement coverage for goods and equipment that are not typically covered by a standard commercial property insurance policy.
The term "inland marine" originally referred to insurance for goods that were transported via waterways, such as rivers and canals. Over time, the coverage has expanded to include goods that are transported by land or air, as well as other types of property.
Inland Marine Insurance policies can provide coverage for a variety of risks, including theft, damage, and loss. They can also include coverage for business interruption, debris removal, and other related costs.
HOW TO CHOOSE THE RIGHT POLICY
Evaluate the specific needs of your business and the types of property you want to insure. Consider the value of your property, the types of property, and the risks associated with your business.
Determine if your equipment needs to be scheduled or can be covered using blanket coverage.
Types of Property Covered by Equipment Coverage Policies
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Property in transit, also known as cargo coverage, is protection for goods that are being transported by truck, rail, air, or sea.
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This includes equipment or inventory that is temporarily stored or held by a third party, such as a warehouse or storage facility.
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This includes tools, machinery, and other equipment that is used by contractors at job sites.