What is Inland Marine insurance? For you the contractor,
Inland Marine insurance is the same thing as a contractor’s equipment policy or
floater. Without prior knowledge of ‘Inland Marine’ insurance, you might think
this is some kind of boating insurance or something. Ironically, it’s not.
Marine insurance is a type of property coverage that has a long history behind
it.
First you need to know that the standard Commercial Property
Insurance policy provides coverage for your equipment, but here's the catch,
it's covered only while it's on your premises. For many businesses, this
is perfectly fine but not for most contractors.
Contractors routinely have equipment, machinery and tools off
their premises. In order to protect these types of items that are
regularly off your premises, you need an inland marine policy (also known as a
contractor's equipment policy or floater).
Contractors
need to be sure their tools, machinery and equipment are protected if damaged
or stolen. An Inland Marine Floater/Contractor’s Equipment policy is an all
risk policy that covers equipment and machinery not licensed as an over the
road vehicle. Contractor’s equipment coverage is not restricted to a location,
so the coverage applies to equipment at job sites, other stored locations and
while in transit.
Contractors
Equipment policies help owners to expedite the repair or replacement of
equipment that is damaged by a covered cause of loss. Without working equipment
or the means to replace equipment as soon as possible, a contractor cannot meet
their obligations.
No matter how hard
you work, losses can negatively impact your business. Protect your business
with the proper insurance and trust the people at Emerge Insurance Agency
Insurance to help you customize your Contractors Equipment Insurance to meet your
specific needs.
904-677-5884
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