The term Inland Marine Insurance might mistakenly invoke thoughts that it applies only to boats that are being used on a land-locked  body of water like a major lake or river system. That sounds about right, as it was the original reason for its development, but it covers far more than  that now. Inland Marine Insurance was developed back in the 17^th century to insure goods as they traveled between the cargo ship and the expected destination. As shipping evolved and more and more goods were shipped over land, inland marine insurance expanded to cover these new forms of transportation. Because the same types of goods were covered, the insurance industry didn’t have to create a new category for this offering, they simply expanded the parameters of the inland marine insurance coverage.

While most policies cover vehicles, buildings, merchandise and even employees while they are on a work site or on corporate grounds, they don’t cover merchandise while it is in transport from one location to another. While this may not seem like a big deal unless you are a goods transportation service, if there is an automobile accident, items like tools and raw materials won’t be covered. This is why most businesses that do a lot of on-site work, such as construction companies, plumbers, electricians and others purchase this floater policy to cover their assets while they are in transit.

Inland marine insurance can also be provided for individuals who are traveling as well. It is usually purchased to protect high-value items like jewelry, high-tech computer and photography equipment and antique items that are not covered by standard insurance policies.

This can be used as a rider for covering valuables during an extended vacation. A policy like this could cover items like personal computers, digital cameras, jewelry and other personal items. Purchasing an inland marine insurance policy could mean the difference between being covered while traveling and suffering a non-covered loss. Call us to discuss your options for Florida boat insurance and inland marine insurance.