Inland Marine Insurance

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Inland Marine Insurance Inland marine insurance (IMI) is a specialized type of insurance that protects movable property and equipment while it is being transported on land within a country's borders. It's important to note that it differs from traditional property insurance as it covers property in transit, while property insurance covers property at a fixed location. IMI covers specialized high-value assets that property insurance typically doesn’t cover. Inland marine insurance covers losses to five types of business property: 1-Property that is moving over land between locations (e.g., construction equipment) 2-Property that you keep at an off-site warehouse or facility (e.g., vending machines stored at a customer’s site) 3-Property that is stored in a moving vehicle (e.g., a food truck) 4-Property that is part of infrastructure (e.g., bridges, communication towers that an insured owns) 5-High-value property stored at your fixed location (e.g., another person's artwork stored at an auction house) Inland marine insurance does not cover: -Stationary property at your main location -Your business vehicles -Damage from earthquakes and floods -Property you ship by sea or by air -Property damage that occurs prior to shipment Who Needs It? -Transportation and logistics: Trucking companies, freight forwarders, couriers -Construction: Contractors, builders, equipment rental companies -Entertainment: Event organizers, production companies, musicians -Retail: Businesses that ship inventory between locations -Fine art and valuables: Galleries, museums, collectors #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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