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Inland Marine Insurance

Learn about inland marine insurance—also called tools and equipment insurance—and how it can benefit your business if you transport your goods and cooking equipment.

What Is Inland Marine Insurance?

Inland marine is a type of property insurance that covers material, products, or equipment that is mobile and not fixed to any one location.  

For example, your food trailer and associated equipment are considered mobile because they aren’t installed in a specific location. Any cooking equipment or supplies that you bring with you from place to place would also fall under this category. As long as it isn’t permanently installed in a vehicle (excluding a food trailer), it’s considered mobile equipment. 

Inland marine insurance coverage can also provide coverage for rented tools and equipment.

Why Is It Called “Inland Marine Insurance?”

You may have heard this term before, but might not know exactly what it means. 

“Inland marine” comes from the term “marine coverage,” which was insurance for goods that were being transported overseas or over other waterways. 

Once companies started shipping these goods from docks to inland locations, that coverage became known as “inland marine.” It served the same purpose as marine insurance—bridging a policy gap—but with a much more confusing name.

These days, inland marine has evolved to cover tools and equipment in transit at various locations instead of only covering those goods at a specific location. It follows the policyholder wherever they go.

What Is the Difference Between Inland Marine and General Liability?

Inland marine is designed to cover theft of or damage to your mobile tools and equipment, while general liability covers third-party property damage, bodily injury, personal and advertising injury, and more. Inland marine and general liability insurance also have separate limits. 

You cannot purchase inland marine insurance from FLIP without having a general liability policy in place. You can add inland marine insurance to your general liability policy during checkout, or if you already have a FLIP policy you can purchase this coverage at any time via your user dashboard.

Who Needs Inland Marine Insurance?

Anyone who has mobile tools, equipment, and supplies needs inland marine insurance coverage to shield themselves from the expensive cost of replacing stolen equipment and gear.

This includes caterers, farmers market vendors, food truck owners, and other businesses that are constantly bringing their equipment and gear from one location to another.

Find out if your business qualifies for FLIP and inland marine coverage today!

How Does Inland Marine Insurance Work?

If you have tools and equipment coverage, you could receive financial assistance if your mobile equipment or supplies are stolen or damaged.

FLIP’s inland marine coverage provides a maximum coverage of $10,000 per item and a maximum of $50,000 per year for all claims. 

If you need additional coverage, just contact us and one of our licensed agents will assist you!

What Information Will I Need About My Business to Get a Quote?

Applying for a FLIP policy is super simple. Here’s what we’ll need from you:

  • Business name
  • Owner name and contact information
  • Address
  • Business description
  • Gross annual sales
  • Coverages requested

 

How Long Does It Take to Get Insured?

Most people complete our online application in less than 10 minutes and then get instant access to their dashboard and Certificate of Insurance (COI)!  If you need more coverage than what the FLIP program offers, it can take 24–48 hours to get a quote.

What Are Common Inland Marine Claims?

Some of the most common inland marine claims are theft and fire damage to equipment.   

For example, one FLIP policyholder had their food trailer broken into and suffered losses and damage to their business personal property costing $5,524. Their inland marine insurance covered the cost.

Another policyholder’s generator caught fire and was completely destroyed as a result. After filing a claim, their tools and equipment insurance coverage paid out $750 for the generator.

Without this insurance, both business owners would’ve had to foot the bill for theft and damages completely out of pocket. 

What Does Inland Marine Insurance Cover?

Inland marine insurance covers:

  • Mobile property that is not fixed to any location 
  • Supplies and inventory 
  • Trailers (not including semi-trailers) 
  • Equipment (except equipment permanently installed in a truck or vehicle) 
  • The collision, upset, or overturn of your food trailer
  • Rented tools and equipment

What Does Inland Marine Insurance Not Cover?

Inland marine coverage does not offer protection for buildings, equipment that is permanently installed in buildings, or vehicles. In addition, it will not cover: 

  • Property while airborne
  • Property that is underground
  • Property that is waterborne or underwater
  • Aircraft or watercraft
  • Any land motor vehicles
  • Precious metals, furs, fine art, semi-precious stones, gold, silver, platinum

 

Please refer to the policy for exact exclusions and limitations. If you have questions about what your policy won’t cover, call us at 844.520.6992 to speak with one of our licensed insurance agents.

How Much Does Inland Marine Insurance Cost?

FLIP’s Tools and Equipment (Inland Marine) coverage costs:

  • $4.50 per month for $5,000 per item/$10,000 per year
  • $28.25 per month for $10,000 per item/$50,000 per year

 

If you need higher limits, we’ll submit your information to an underwriter for a quote. The pricing will depend on the location of your business and the value of your equipment.

Why FLIP for Inland Marine Insurance Coverage?

FLIP offers a cost-effective way to insure the tools, equipment, and supplies that make it possible for you to run your business. 

It’s easy to add inland marine coverage to your general liability policy during checkout by selecting the limits you need under Equipment, Inventory, and Tools. You can also add this coverage through the user dashboard if you already have a FLIP policy. 

FLIP also offers a wide range of insurance coverage types to suit the unique needs of your business, from cyber liability to product liability.   

Learn more about inland marine insurance and why it’s important for food businesses.

FLIP Customer Reviews

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Coverage Details Limits

General Liability Aggregate Limit

$2,000,000

Products – Completed Operations Aggregate Limit

$2,000,000

Personal and Advertising Injury Limit

$1,000,000

General Each Occurrence Limit

$1,000,000

Damage to Premises Rented to You Limit (Any One Premises)

$300,000

Liability Deductible

NO DEDUCTIBLE

Business Personal Property / Inland Marine Limit (Any One Article / Aggregate)

$5,000/$10,000

Business Personal Property / Inland Marine Limit (Per Occurrence) – Deductible

$250

Medical Expense Limit

$5,000

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Chris Van Leeuwen, CIC and Author for Food Liability Insurance Program (FLIP)

Written by: Chris Van Leeuwen

Chris Van Leeuwen is the VP of Agency Development for Food Liability Insurance Program (FLIP). He has held the prestigious Certified Insurance Counselor (CIC) designation since 1996.

Because he strongly believes in the importance of helping business owners understand their insurance coverage, Chris uses his wealth of experience to offer insights to food and beverage professionals across the country who are looking to navigate business liability insurance

Kyle Jude, Program Manager and Author for Food Liability Insurance Program

Reviewed by: Kyle Jude

Kyle Jude is the Program Manager for Food Liability Insurance Program (FLIP). As a dedicated program manager with 10+ years of experience in the insurance industry, Kyle offers insight into different coverages for food and beverage business professionals who are looking to navigate business liability insurance.