Coverage line

What Is Inland Marine Insurance?

If your business moves equipment between sites or ships goods, inland marine can cover those property exposures; installation and other forms address different property categories. Match the quote to what you own, rent or hold for others. ^1,²

What Does Inland Marine Insurance Cover?

A tool stolen from a jobsite, rented equipment damaged in use and customer goods in your care raise different property questions. ¹

If your business moves equipment between sites or ships goods, inland marine can cover specialized property exposures. ¹

Mobile Property and Specialized Exposures

Equipment floaters, installation coverage, motor truck cargo, trip transit, accounts receivable and valuable papers are different inland marine coverage types. ¹

Match the Coverage to the Property

Compare the property description with what you own, rent or hold for others, and ask which items must be individually scheduled. ²

Property in the discussion	Interest to identify	Question to ask
Owned diagnostic device taken to customer sites	Property you own and move	Is it scheduled, and at what value?
Rented construction equipment	Property you rent or borrow from others	Does the quote address rented or borrowed items?
Customer goods in your care	Property belonging to someone else	Which coverage, if any, is proposed for that interest?

² ¹

Who Needs Inland Marine Insurance?

Consider inland marine for tools, installation materials or other valuable property that travels between locations. ^3,²

Inland Marine Insurance Coverage Examples

What happened

Equipment Is Damaged on the Road

Equipment your team is taking to a customer site is damaged during the trip.

How coverage may help

An equipment floater may cover property in transit. The item, journey and locations need to fit its schedule and territorial terms. ^1,²

What happened

Several Tools Are Lost Together

One incident damages several valuable tools carried in the same trailer.

How coverage may help

The policy may have both per-item limits and a cap for a single loss. That cap can matter even when each tool is insured for an adequate amount. ^1,²

How Do You Compare Inland Marine Insurance Coverage and Costs?

Locations and Movement

Describe where equipment is stored, used and transported; check territorial limits and any restrictions on property lent or rented to someone else. ²

Values, Limits and Deductibles

Ask how a damaged item will be valued and whether replacement-cost payment depends on repairing or replacing it. ²

Compare the limit on each item with any cap on a single loss involving several items. A trailer full of tools can be worth much more than any one tool. Also check whether the deductible is a fixed dollar amount or a percentage, and how that percentage is calculated. ²

What Exclusions and Conditions Should You Check in Inland Marine Insurance?

Causes of Loss

Ask how the wording treats wear and tear, mechanical breakdown, unexplained disappearance and loss of use. ²

Reporting and Records

Before a loss occurs, find the reporting instructions and ask what records will help establish ownership, value and what happened to the property. ²

Keep purchase records, serial numbers, photographs and current locations with your equipment inventory. ²

Compare inland marine with any off-site property terms in your commercial property policy, with cargo coverage for goods being shipped, and with equipment breakdown coverage for machinery failure. ^1,²

Concern	Related discussion
Equipment that leaves a building	Inland marine and any off-site property terms
Goods in a shipment	Cargo and transit coverage
Machinery that stops working	Equipment breakdown coverage
The building and contents that stay put	Commercial property coverage

^1,² ¹

What Do You Need for Inland Marine Insurance Quotes?

Prepare an equipment or property inventory with descriptions and values, a description of your operations, prior losses, and the limits you want to discuss. ^3,²

Build a Usable Property Inventory

Prepare	Ask the broker
Item descriptions and serial numbers	Which items must you schedule, including rented or customer property?
Values	How should you value each item and a loss involving several items?
Storage and transport locations	Which locations and movements fit the territorial terms?
Operations and equipment users	What details explain why your equipment leaves the premises?
Prior losses	What records and corrective steps should you provide?
Limits and deductibles	What per-item and shared-loss limits and deductibles are available?

^3,² ² ²

Inland Marine Insurance: Key Terms in Plain English

Equipment Floater

A type of inland marine coverage for equipment that moves between locations. ¹ ¹

Scheduled Property

Items individually identified in the policy. Check which owned, rented or borrowed items need listing. ²

Frequently Asked Questions About Inland Marine Insurance

Does Inland Marine Only Cover Goods on Water?

No. Despite the name, inland marine includes specialized protection for equipment moving between locations and goods in transit. ¹

Can One Limit Cover Several Items Lost Together?

Yes, a single-loss limit may apply alongside individual item limits. Check both, particularly when several valuable items travel together. ²

Can Inland Marine Insurance Cover Rented Equipment?

Check whether the property description includes equipment you rent or hold for others, as well as equipment you own. Ask which items must be listed individually on the policy. ²

What Information Do I Need for an Inland Marine Quote?

Start with an inventory of the property, including descriptions and values. Have your operations, prior losses and desired limits ready so the quote can reflect the equipment or goods you need to insure. ^3,²

Which Insurance Providers Offer Inland Marine Insurance?

Sources for Inland Marine Insurance

Commercial Insurance Guide. California Department of Insurance; Property Insurance; Commercial Property; Inland Marine; Boiler and Machinery. Version: Form 700 Revised June 14, 2024. Accessed 2026-09-16.
Inland Marine Policy: Contractors’ Equipment. Markel American Insurance Company / American Association of Insurance Services; hosted by Florida Department of Management Services; PDF p.8 declarations; attached Contractors’ Equipment printed pp.1–13 (PDF pp.18–30); replacement-cost endorsement PDF p.34. Version: Declarations July 1, 2022–July 1, 2023; Contractors’ Equipment IM 7000 04 04; replacement-cost endorsement IM 7020 04 04. Accessed 2026-09-16.
Contractors Equipment Insurance. Chubb; Contractors Equipment Insurance Submission Requirements; Target Clients. Accessed 2026-09-16.