Inland Marine Definition & Meaning | Insurance Term | CSIMarket
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Glossary

Inland Marine

Insurance Term

Inland Marine is a type of insurance coverage that is designed to protect movable property while it is being transported over land or stored at various locations. This type of coverage is commonly used in the insurance industry to provide protection for goods and equipment that are not stationary.

Inland Marine insurance typically covers property such as machinery, tools, computers, cameras, musical instruments, and other valuable equipment that may be moved from one location to another. It also covers items that are stored in warehouses or other temporary storage facilities. Additionally, it can include coverage for items that are being exported or imported.

The coverage provided by an Inland Marine insurance policy can vary depending on the type of property being insured and the specific terms of the policy. Some policies provide all-risk coverage, which covers any loss or damage to the property, while others provide named-perils coverage, which only covers specific perils such as fire, theft, or vandalism.

In addition to covering property, Inland Marine insurance can also provide coverage for liability claims that arise from the use or operation of the insured property. For example, if a piece of machinery causes damage to a third party*s property, the policyholder may be liable for the damages. Inland Marine insurance can help to cover these types of claims.

Overall, Inland Marine insurance is a valuable type of coverage for businesses that rely on movable property to operate their businesses. It can provide valuable protection against losses and liability claims, providing peace of mind and financial security for business owners and insurers alike.


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