Inland Marine Insurance – What is it and why do I need it

Inland Marine Insurance – What is it and why do I need it?

Tuesday, April 5, 2016
As a business owner, it is possible that you have never heard of Inland Marine insurance or perhaps you have dismissed it because of the name of the coverage. You may think, “my business is landlocked and doesn’t own any boats” so why do I need this type of insurance? Well, think again…
  • Inland Marine insurance was first created to cover the transport of goods over water but the coverages have been expanded to cover goods in transit over land, as well as to the property of others that are on your premises or being transported to or from your premises.
  • Depending on the type of business you own, Inland Marine coverage could be the key to protecting your business property. Does your business transport property of any kind? Do you have buildings under construction?
  • Consider everything you and your employees put in some vehicle during the day to keep your business running. That can be everything from tools and other construction equipment to building plans, computer data, merchandise, and beyond.
  • Most Property insurance policies are not enough to protect the items you need to do business because they limit coverage to a certain number of feet/miles from a designated business address. 
  • Your Personal Auto policy may not cover these items while in transit, sitting in a business vehicle or at a job site waiting to be delivered. Inland marine coverages offer affordable protection for the transport, no matter where they go or where they are located. 
  • Inland Marine insurance also covers valuables that belong outside your safe-deposit box. Homeowners policies often limit or deny coverages for certain valuable items such as:
    • Jewelry and Furs
    • Guns
    • Fine Art
    • Stamp and Coin Collections
    • Golf Carts and Golf Equipment
    • Contents in Mini-Storage Facilities
    • Musical Instruments
At SeaCoast Underwriters, Inc., we capitalize on strong company relationships and utilize many years of underwriting experience and expertise to provide you with the highest level of quality insurance options available. With office locations in Coral Gables and Lake Mary, Florida, we are available to assist you in finding the best coverage for your clients. Contact us for Personal Lines in the Coral Gables office at (888)774-9977 or for Commercial Lines in the Lake Mary office at (800)777-4693 or find us online at www.seacoastunderwriters.com.
SeaCoast Staff 4/5/2016

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