Insurance glossary · How policies work
inland marine.
Inland marine is the insurance name for coverage on property that moves, like tools, equipment and materials on a truck or at a job site.
Why is it called inland marine if it has nothing to do with boats?
Because it grew out of ocean marine insurance, which covered goods in transit. Over time insurers extended it to property that moves over land, and the name stuck. Today it’s the category for property that isn’t fixed at one location.
What does inland marine cover for contractors?
Tools and equipment that travel between jobs, materials on the way to or stored at a job site, and buildings under construction. Common forms include contractors equipment, installation floaters and builders risk.
Doesn’t my commercial property policy cover my tools?
Usually only at your listed locations, and often with low limits for property away from them. Tools on a truck or at a job site generally need inland marine coverage to be fully protected.
What is an installation floater?
Coverage for materials and equipment you’re installing, from the time they leave the supplier until the job is accepted, including in transit and stored on site. It fits trades that install equipment, like HVAC and electrical.
Is builders risk inland marine?
Yes. Builders risk covers a building and its materials while under construction, and insurers write it as inland marine because the property is in the process of changing, not a finished structure at a fixed address.
Should tools be scheduled or covered blanket?
Larger equipment is usually listed individually with a value, while small tools are covered under a blanket limit with a per-item cap. Which fits depends on what you own and how often it changes.
Does inland marine cover rented or borrowed equipment?
Only if the policy includes it. Many contractors equipment forms add coverage for equipment rented or borrowed from others, often with its own limit, and some also cover the rental cost while your own equipment is being repaired.
Does inland marine work differently by state?
Mostly no. Inland marine forms are often written with more flexibility than standard property forms, so coverage varies more by insurer than by state.
by trade.
- PlumbingPipe-cutting, camera and jetting equipment are often worth more than the truck, and need coverage away from the shop.
- HVACInstallation floaters cover units and parts from the supplier until the job is accepted.
- ElectricalWire, panels and fixtures stored on site before installation are a common inland marine exposure.
- General contractorsBuilders risk and contractors equipment are both inland marine and often sit with the same insurer.
- Landscaping and property vendorsMowers, trailers and handheld equipment that travel daily need coverage off premises.
where you’ll see it.
- Policy titles“Contractors equipment floater,” “Installation floater” or “Builders risk” in the forms list.
- Equipment schedulesA list of larger equipment with serial numbers and values.
- ContractsRequirements that the contractor insure materials and equipment until the work is accepted.
cover the gear where it actually is.
Riza builds an equipment schedule with you, sets the right blanket limit for small tools, and adds installation or builders risk coverage when your jobs call for it.
Get a quoterelated terms.
Coverage it touches: Tools and equipment