What is Inland Marine Insurance?
Inland marine covers the movable, high-value property your business takes on the road or to the jobsite — tools, equipment, and cargo in transit — wherever it happens to be.
Who needs it
- Contractors, trades & small businesses
- Owners needing a COI today to win a job
- Growing companies adding crews or trucks
Coverage that travels with your property
Despite the name, inland marine has nothing to do with the ocean — the term is a holdover from the days when cargo coverage moved inland from the docks. Today it covers the movable, portable, and often high-value property that a standard commercial property policy won't follow off the premises. Your building policy generally protects what's inside four walls; inland marine protects the tools, equipment, and materials that leave those walls to go to a jobsite, ride in a truck, or sit at a customer's location. For contractors and mobile businesses, it's often the most important coverage they own.
Common inland marine coverages
Contractors' equipment (tool floaters) cover hand tools, power tools, and larger equipment wherever they are — on the truck, at the jobsite, or in storage. Installation floaters cover materials and fixtures you're installing at a project until the job is accepted. Motor truck cargo covers the goods you haul for others. Builders' risk covers a structure while it's under construction. Other common forms include equipment leased or rented, computers and electronics, signs, fine arts, and property in transit. Because these forms are broad and flexible, coverage can be tailored down to specific scheduled items or written to blanket a whole class of property.
Why your property policy isn't enough
A commercial property policy typically limits or excludes property once it leaves the described premises, and it may cap tools and equipment at amounts far below their real replacement cost. If your work happens away from your building — and for most trades it does — inland marine is what keeps a stolen trailer of tools or a truck fire from becoming an out-of-pocket loss.
Who needs it
- Plumbers, electricians, HVAC techs, and general contractors
- Landscapers, excavators, and equipment-heavy trades
- Mobile service businesses that carry tools between jobs
- Haulers and businesses shipping goods for others
- Installers whose materials sit on-site before acceptance
- Anyone with valuable, portable, or in-transit business property
What affects your premium
- Total value of the tools and equipment insured
- Whether items are scheduled individually or blanketed
- How and where the property is stored and transported
- Deductible and replacement-cost vs. actual-cash-value basis
- Theft exposure and security measures
- Claims history and type of work performed
Why an independent agent for inland marine
Inland marine is one of the most flexible lines in insurance, which also makes it one of the easiest to get wrong — undervalued tool limits and the wrong coverage basis are common and costly. BNW Services LLC shops inland marine across our appointed carriers and builds the schedule around the equipment you actually carry. Billy Whited's roots in the trades mean he knows what a truck and trailer full of tools is really worth to replace, not just what a generic form assumes. Call 573-594-5148 and we'll make sure your coverage travels everywhere your work does.
Inland Marine Insurance FAQ
Does inland marine have anything to do with boats or the ocean?
No — the name is a historical holdover. Inland marine covers movable, portable, and often high-value business property, like tools and equipment, wherever it travels. Watercraft are covered under separate marine policies, not this line.
Why won't my regular business property policy cover my tools?
A commercial property policy generally protects property at your described premises and often limits or excludes tools and equipment once they leave the building. Since most trade work happens off-site, inland marine is what follows your tools to the jobsite, in the truck, and into storage.
What's a contractors' tool floater?
It's an inland marine form that covers your hand tools, power tools, and larger equipment wherever they are. Items can be scheduled individually or blanketed as a class, and we'll help set limits that reflect real replacement cost so you're not underinsured.
Are my tools covered if they're stolen from my truck or trailer?
Theft is a common covered cause under inland marine, subject to your policy terms and deductible. Security measures and how the property is stored can affect both eligibility and price, so it's worth telling us how you keep your equipment.
What is an installation floater?
An installation floater covers materials and fixtures you're installing at a project — like HVAC units, cabinetry, or plumbing — until the work is completed and accepted. It fills the gap between when materials leave the supplier and when the job is done.
Should items be scheduled individually or blanketed?
It depends on your equipment. High-value single items are often scheduled so their value is documented, while large numbers of smaller tools may be better blanketed. We'll build the schedule around what you carry and how you work.
I haul goods for other people. Is that covered here?
That's motor truck cargo, an inland marine coverage for goods you transport for others. It's different from covering your own tools, so we'll write it specifically for that exposure. Call Billy at 573-594-5148 to review it.
Get Inland Marine Insurance today
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