Both forms of coverage have been updated as transportation methods have advanced. The terms used for these types of insurance, however, have remained. Ocean marine policies still generally protect items being sent overseas, and inland marine policies still typically safeguard goods once they’re being sent inland (or over land).
Who in Massachusetts Can Benefit from Inland Marine Coverage?
Many different types of businesses may benefit from the protections that inland marine coverage offers. For instance:
- A construction company in Worcester, MA may need coverage so the company’s heavy equipment is covered while it’s transported to and from job sites
- A landscaping firm in Southborough, MA might want coverage for its mowers, weedwackers, and trimmers while they’re being transported to and from customer’s locations
- A business in Salem, MA that orders a lot of supplies may want coverage for those supplies while they’re being transported to the business’ facility
- A company in Boston, MA that frequently sends out samples might want coverage for samples while they’re being shipped
(Whether a specific policy would provide protection for these types of incidents depends on that policy’s terms, conditions, and exclusions. Many inland marine policies, however, offer coverage for incidents similar to these examples).
Additionally, some Massachusetts residents might want an inland marine policy. Online shoppers, in particular, can often benefit from the protections that a policy affords. Products bought online often aren’t insured by homeowners policies until they’re received. An inland marine policy may offer protection for purchases until they’re received.
Do Businesses Need Inland Marine Coverage If Carriers Offer Insurance?
Even though third-party carriers often provide some insurance, businesses sometimes should still purchase an inland marine policy. Unless a business pays for additional coverage, the protection offered by a carrier’s insurance policy is often minimal. In many cases, an inland marine policy offers better coverage than a carrier’s basic insurance and is cheaper than purchasing additional coverage from a carrier for each shipment.
How Can Massachusetts Businesses and Residents Get Inland Marine Insurance?
Businesses and residents in Massachusetts who are interested in inland marine insurance should contact their independent insurance agent. Agents don’t advertise inland marine coverage as much as some other types of insurance, but most independent agents are able to help businesses and individuals find inland marine policies.
