What this coverage is
Inland marine insurance covers property that moves or is located away from your fixed business location, which standard commercial property policies often limit. Despite the name, it has little to do with boats; it evolved to cover goods moving over land.
Common forms include contractors' equipment coverage, tools, transit coverage for goods you ship, and specialized floaters for valuable or specialized items. It is frequently paired with property insurance to close off-premises gaps.
Who commonly needs it
Businesses that carry tools, transport equipment, or move valuable property between sites commonly use inland marine coverage to protect those mobile assets.
Where this coverage commonly fits
Operational — coverage tied to how a business physically operates day to day — its property, vehicles, and equipment. Inland marine commonly fits businesses whose tools, equipment, or materials move between job sites.
- Contractors hauling tools and equipment
- Delivery and logistics operations
- Repair and field-service businesses
- Photographers, A/V, and media crews
- Installers moving high-value materials
What it may cover
- Tools and equipment in transit or at a job site
- Contractors' mobile equipment
- Goods and materials you are shipping
- Property of others in your care, custody, or control
- Specialized or high-value items via a floater
What it typically excludes
- Property permanently located at your main premises
- Vehicles themselves, which auto coverage addresses
- Wear, tear, and mechanical breakdown
- Loss from poor maintenance
- Items specifically excluded or over scheduled limits
Hypothetical claim scenarios
These illustrative examples are for general understanding only. Coverage depends on the specific policy terms, conditions, and exclusions.
Tools stolen from a job site
A contractor's tools are stolen from a locked trailer overnight. Inland marine coverage may help replace the tools, subject to deductibles and policy terms.
Equipment damaged in transit
Specialized equipment is damaged while being transported between sites. The policy may help with repair or replacement, subject to terms.
Goods lost during shipment
Materials are lost while being shipped to a client. Transit coverage may help respond to the loss up to covered limits.
What commonly affects cost
- Type and total value of mobile property
- How often and how far property moves
- Security measures and storage practices
- Claims history and industry
- Selected limits and deductibles
How much does it cost?
On average, many businesses pay roughly $300–$1,000 per year for many small businesses for inland marine insurance. That figure is a general national average only — your actual premium is set during underwriting.
- Inland Marine Insurance$300–$1,000 per year for many small businesses
These are general national averages shown for comparison only — not a quote. Actual premiums vary widely with underwriting and depend on the factors above and the specifics of your business, including size, revenue, location, claims history, and the limits you choose. See how we estimate costs.
Industries where this coverage is common
Coverage needs vary business to business — most companies consider this protection regardless of industry. These are simply the industries where we see it most often.
See how this coverage works in your industry
A few examples from the business types we cover — this coverage applies well beyond the industries shown here.
Don't see your business type? Browse all industries we cover — coverage recommendations are tailored to every operation.
Frequently asked questions
What does inland marine actually cover?
It commonly covers movable business property such as tools, equipment, and goods in transit or away from your main premises, which standard property policies often limit.
Why is it called inland marine?
The name is historical. It grew out of ocean-marine coverage to address goods moving over land, and today applies broadly to mobile property.
Do I still need commercial property insurance?
Yes. Inland marine focuses on mobile and off-premises property, while commercial property covers assets at your fixed location. The two are commonly used together.
Does it cover the vehicle carrying my tools?
No. The vehicle itself is generally covered by commercial auto, while the tools and equipment inside may be covered by inland marine.
What is an equipment floater?
A floater is an inland marine form that schedules specific equipment or high-value items, often with broader coverage tailored to those assets.
How do I get a quote for this coverage?
Call The Southern Agency at 1-800-777-1872 or request a quote online, and an advisor can help tailor coverage to your business.
Related coverages
- Commercial Property Insurance Coverage for buildings, equipment, inventory, and fixtures against covered perils.
- Equipment Breakdown Insurance Protection against sudden mechanical or electrical breakdown of essential equipment.
- Builders Risk Insurance Coverage for buildings and structures during construction or renovation.
- General Liability Insurance Foundational protection for third-party bodily injury, property damage, and advertising injury claims.