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Inland Marine and Cargo Insurance

Inland Marine Insurance, also known as commercial marine coverage for goods in transit is usually amongst the most comprehensive commercial property insurance. Originally formulated for protecting goods that are transported through water means, now it has extended its scope to goods carried overland and movable properties. Fundamentally, Freedom Quest Insurance Agency Inland Marine Policies are property policies that are structured to safeguard cargo or other property in shipment, storage, or on-hold.

What is Cargo Insurance?

Cargo Insurance is one form of Inland Marine Insurance that provides coverage for commodities transported by land. The coverage main purpose is to cover the costs to repair or replace covered property that is damaged due to covered perils like theft, fire, wind, hail or water damage. One important aspect of this protection is the coverage it provides in the event of an accident while in transit.

It is very common for shippers to require common carriers to provide proof of cargo coverage before releasing a load to be delivered from point A to point B. This coverage may also include protection for damages due to mishandling or missing property.

What Can You Use Marine Insurance for?

Inland Marine Insurance can also be used to refill flaws in coverage when goods leave the locations of the insured facility. It covers a wide range of goods and equipment. The property covered under Marine Insurance is usually in transit, detained by a bailee, or at a fixed site that is an instrument of transportation or any other portable product that is usually at varied locations.

So, if your property is exposed to the challenges mentioned above, then Marine Insurance is for you. Your traditional commercial property insurance plan will generally not provide coverage for the third-party property, so this insurance will be a lifesaver.

Contact our insurance experts for complete guidance!