Despite its name, inland marine insurance doesn’t have anything to do with boats.
This insurance is specialized coverage that protects high-value personal property, whether at home or in transit. It becomes crucial when your standard homeowners, condo, or renters insurance policy falls short.
Originally designed to protect goods transported along waterways, inland marine insurance has evolved to protect valuable personal property that is both stationary and portable. This makes it particularly valuable for protecting items at high risk of theft or damage. Unlike standard policies, inland marine insurance typically provides coverage whether your items are at home, in transit, or traveling with you.
why consider inland marine insurance?
Most home insurance policies limit coverage for valuable items, typically to around $2,500.
This limit can leave expensive possessions significantly underprotected. For example, if you or your spouse’s $10,000 engagement ring is stolen, your homeowner’s policy might only cover a quarter of its value. Inland marine insurance fills this gap, offering comprehensive coverage.
Common Items Protected by Inland Marine Insurance
- Fine jewelry and wedding rings (valued $5,000+)
- Valuable art collections and individual art pieces
- Professional camera equipment
- Musical instruments and accessories
- Premium golf equipment
- Rare coin and stamp collections
- High-end silverware sets
- Valuable fur coats and clothing
- Fine art during transit or storage
important coverage features
- Protection extends beyond your home
- Often includes coverage during transit
- Typically offers lower deductibles than standard policies
- Can cover full replacement cost
- Helps protect items at higher risk of theft
- May include coverage for mysterious disappearance
- Often provides worldwide coverage
Don’t wait until after a loss to discover your valuable items aren’t adequately protected.
Contact us to review your valuable possessions and ensure they’re properly insured. We’ll help you understand where your current policy may fall short and how inland marine coverage can fill those gaps!