Inland marine insurance covers the property your business moves around: tools, equipment, materials in transit, and gear sitting on a jobsite overnight. Your commercial property policy covers what stays at your shop. Inland marine covers what leaves it. Safenet Insurance Group writes inland marine across North Carolina. Call (336) 280-4606 or quote online.
Who Needs Inland Marine Insurance
If you haul tools and equipment to a jobsite, you have an inland marine exposure. It is the single most common uncovered loss we see with trade contractors.
- Trade contractors hauling tools, ladders, compressors, and power equipment
- Anyone with a loaded trailer that sits at a jobsite or in a driveway overnight
- Contractors installing materials they own until the job is accepted
- Businesses moving inventory, samples, or equipment between locations
- Companies renting or borrowing equipment and responsible for it while in their care
What It Covers
- Contractors equipment. Owned tools and machinery, on the job, in transit, or in storage.
- Installation floater. Materials you have bought and are installing, covered until the job is complete and accepted.
- Property in transit. Goods and equipment while being moved between locations.
- Rented or borrowed equipment. Gear you are legally responsible for while it is in your care.
- Theft from a jobsite or trailer, which is where most of these claims come from.
What It Does Not Cover
- The vehicle or trailer itself. That belongs on your commercial auto policy.
- Property that stays at a fixed location. That is commercial property.
- A building under construction. That is builders risk.
- Employee dishonesty. Theft by your own people falls under a crime policy.
- Wear, tear, and mechanical breakdown. Inland marine pays for sudden accidental loss, not for equipment wearing out.
Scheduled or Blanket
Small tools are usually covered on a blanket basis, meaning anything under a set value per item is covered without listing it. Bigger machinery is scheduled, listed individually by serial number and value. Most contractor policies use both. Getting the split right matters, because a scheduled item left off the list is not covered, and a blanket limit set too low pays only part of a real loss.
Frequently Asked Questions
Does my general liability policy cover stolen tools?
No. General liability covers damage you cause to other people and their property. It does nothing for your own tools and equipment. This is the most common coverage gap we find when we review a contractor’s existing policy.
My tools were stolen out of a locked trailer. Is that covered?
Under an inland marine policy, generally yes, subject to your deductible and any theft conditions in the policy. Without one, there is usually no coverage anywhere on your commercial program.
Do I need it if my equipment is financed or leased?
Almost always. Lenders and lessors typically require coverage on equipment they hold an interest in, and they will ask to be listed on the policy.
How much does inland marine insurance cost?
It depends on the total value of what you are covering, how it is stored, and your loss history. It is generally one of the less expensive lines on a contractor’s policy relative to what it protects. Call us and we will price it against your actual equipment list.
Get an Inland Marine Quote
Call (336) 280-4606 or start a quote online. Have a list of your equipment ready with model and serial numbers and replacement values for anything significant. If you do not have a list, we will help you build one, and you will want it anyway the day you have a claim.
Safenet Insurance Group is at 157 Yadkin Valley Road, Suite 208 in Advance, and we write throughout Davie, Forsyth, and the surrounding counties.