INLAND MARINE INSURANCE FROM WORCESTER SPECIALISTS

Proudly Providing Inland Marine Insurance to Residents in Massachusetts & 25 Other States Across the Nation

In business, you must often transport your equipment, products, or other items to a job site, convention, or other area. This comes with a variety of risks, both in transit and storage, which can mean unexpected costs for your business. Whenever your property leaves your business premises, your commercial property insurance only provides limited coverage. For items on the road or in temporary storage in Worcester, inland marine insurance can provide the necessary coverage against damages and losses.

Worcester Inland Marine Insurance

The marine insurance industry came about due to the risk of extensive loss and damages that business owners took when shipping items across the sea. When land transport became commonplace, this insurance broadened to include inland marine coverage for items being transported across land. Much like its predecessor, it is designed to cover the wide range of damage and losses that can occur when you’re shipping items to another location. If your company regularly ships or stores items outside of your business premises, an inland marine policy can provide important financial protections.

Limitations of Other Worcester Insurance Policies

While most businesses typically have commercial property insurance coverage, these policies are often too limited to fully cover your property when it leaves your business premises. Most only offer a percentage of your policy limits for items, including electronics, tools, and other equipment, once you take them out of the building. For companies that regularly take their items on the go, or store them on a job site, such as contractors, this can leave you with dangerous gaps in your coverage.

Massachusetts auto insurance also places limitations on what it will cover for items stolen from your vehicle or damaged in an accident. Any business that transports business materials by automobile should understand how much coverage their policy offers.

Shipping creates another insurance problem. While most shipping carriers do offer insurance on your items, this coverage is often prohibitively expensive for businesses that ship large items or make frequent shipments. Your Worcester company may be better served by buying a dedicated inland marine policy that can cover all of your items during shipping.

Inland Marine Insurance Coverage

Inland marine polices are designed to fill the needs insuring items that are in transit, whether by shipping or by your company vehicle. It also covers items that are placed in temporary storage, such as a warehouse, or stored at a job site. This provides broad coverage for your items when they are out of the office space.

Commonly insured items include:

Contractors tools and equipment
Computers
Photography equipment
Musical instruments
Art
Animals
Medical equipment
Communication equipment

Coverage can also extend to items in your possession that belong to others. If you own a repair shop, dry cleaning store, or other business that regularly takes temporary possession of customer’s items, inland marine coverage can help protect your business.

Inland marine polices are either classified as “peril” or “all-risk.” All-risk coverage provides a broad range of protection against most situations that may arise. Only specifically listed exclusions will not be covered. Conversely, peril coverage will only cover the specific risks named in your policy, such as fire, water damage, or theft.

Many businesses around Worcester can benefit from inland marine insurance. This important coverage fills the gaps left by other property coverages to provide financial protections while in transit and storage. Your local insurance agent can help you find the right inland marine policy for your business’s needs.

The Feingold Companies

Worcester Office
446 Main Street, Suite 1403
Worcester, MA 01608
Phone: (508) 831-9500
Fax: (508) 797-4030

New Lakeside & Dudley Insurance
446 Main Street, Suite 1403,
Worcester, MA 01608
Phone: (508) 943-0090

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