YOU ASK:

What inland marine insurance coverages can I choose from?

WE ANSWER:

If you are a business owner whose major commercial operations have to do with the transportation of goods on land, you will need to purchase inland marine insurance so that you are adequately indemnified if the goods get damaged or destroyed during transportation.

Inland marine insurance can cover domestic shipments, imports and exports, personal property or commercial property floater risks and means of communication and transportation, such as tunnels, bridges, etc.

Inland Marine Insurance Coverages

There are two broad inland marine insurance categories:

Filed Inland Marine Insurance Forms

This category comprises those forms that are filed under the ISO commercial inland marine insurance program. These policy forms include the following:

  • The commercial articles coverage form - for instruments and equipment used by professional musicians, photographers and such like professionals.
  • The accounts receivable coverage form - for accounts receivable records of firms.
  • The camera and musical instrument dealers coverage form - for the people trading with cameras, musical instruments and the respective accessories.
  • The film coverage form - for motion picture films, video tapes, etc.
  • The equipment dealers form - for people trading with equipment used in agriculture.
  • The mail coverage form - for institutions which use the mail to ship securities.
  • The valuable papers and records coverage form - for damaged or lost documents of great importance.
  • The physicians and surgeons equipment coverage form - for medical equipment.

Non-filed Inland Marine Forms

These are special forms designed to be in accordance with the personalized insurance needs of business owners. Here are some of the non-filed inland marine insurance forms:

  • Domestic shipment of goods - this type of policy can cover a single shipment or it can be written on an annual basis. Thus, a business owner can buy a trip transit policy, or an annual transit policy, respectively.
  • Means of transportation and communication - for risk exposures related to tunnels, bridges, pipelines, etc.
  • Bailee policy - a liability coverage for people who are in the possession of something that belongs to others.
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