Inland Marine Insurance for California Businesses

Who may need this coverage

• Contractors with valuable tools and mobile equipment
• Transporters and businesses moving goods
• Companies with property at multiple or off-premises locations
• Installers with equipment at job sites

What it may cover

Coverage depends on policy wording, exclusions, limits, and underwriting. The following are commonly addressed, subject to the policy terms:

• Scheduled tools and equipment, on and off premises
• Goods in transit over land
• Property at job sites and temporary locations
• Equipment while in transit

Common exclusions and limitations

• Cargo for hire, which may need motor truck cargo
• Vehicles themselves, covered by commercial auto
• Unscheduled or undisclosed property
• Wear and tear and electrical breakdown without the right form

Relevant optional endorsements

• Scheduled equipment floater
• Bailee coverage for customers' goods
• Motor truck cargo
• Tools and equipment off-premises

Factors that may affect pricing

• Type and value of scheduled equipment
• Geographic radius and transit patterns
• Security and storage conditions
• Claims history

Information typically needed to request a quote

• Equipment schedule with descriptions and values
• Operating radius and locations
• Storage and security details
• Prior losses

A realistic example

Situation: Tools are stolen from a contractor's truck at a job site overnight.

How coverage may respond: Inland marine scheduled equipment coverage can address the theft, subject to the schedule, deductible, and policy terms.