Inland Marine Insurance in Texas

Inland Marine: Protecting Your Business on the Move in The Woodlands

Despite its name, Inland Marine insurance has nothing to do with water. It's a specialized type of coverage designed to protect your valuable business property while it's in motion, in transit, or temporarily stored at a job site—a crucial protection for the many mobile businesses operating in The Woodlands

The Critical Coverage Gap Most Businesses Overlook

Your standard Commercial Property policy is excellent for protecting assets at your listed business address. However, the moment your tools, equipment, or inventory leave that location, they are typically no longer covered. Inland Marine insurance is specifically designed to fill this critical gap.

Essential Coverage for a Wide Range of Woodlands Businesses

This coverage is vital for many local businesses that don't operate from a single, fixed location. You likely need Inland Marine insurance if you are:

• A contractor or artisan whose tools and equipment are stored in your truck or left overnight at a job site in a neighborhood like Creekside Park or Grogan's Mill.

• A photographer or videographer with thousands of dollars of camera gear for a wedding at a venue like The Woodlands Waterway Marriott.

• A sales or tech professional who travels with high-value laptops, projectors, or mobile diagnostic equipment to client meetings along Research Forest Drive.

• A fine art dealer or exhibitor transporting valuable pieces to a client's home or a local gallery.

Inland Marine policies can be tailored to your specific needs, whether it's a Contractor's Equipment Floater to protect your tools or coverage for valuable papers and records.

If your business assets are ever on the move, you likely have an exposure that needs to be covered. As your local Woodlands agent, we can analyze your operations to ensure your property is protected, no matter where your work takes you. Contact us for a complimentary review.

Inland Marine Insurance FAQs

What is Inland Marine Insurance?

Inland Marine insurance is a type of business insurance that protects your valuable property while it's in transit, off-site, or temporarily in your care. Think of it as "property insurance on the move." It's designed to cover assets and equipment that don't stay in one fixed location.

Why is it called "Inland Marine"? Isn't that a contradiction?

It's a historical term that can be confusing! Years ago, "marine" insurance covered ships and their cargo. As transportation evolved via land (railroads, trucking), a new policy was needed to cover cargo moving over land, or "inland." The name stuck, but today it has nothing to do with water. It simply covers property that is mobile.

Who needs Inland Marine Insurance?

Your business likely needs this coverage if you:

• Transport tools or equipment to different job sites (e.g., contractors, photographers, IT consultants).

• Ship goods or products to customers.

• Are in possession of property belonging to others (e.g., computer repair shops, art galleries).

• Possess high-value mobile equipment, fine art, or specialized computer systems.

Isn't my property covered by my Commercial Property policy?

Your standard Commercial Property policy is designed to cover assets at a specific, listed address. Coverage is either completely excluded or severely limited once that property leaves your premises. Inland Marine insurance fills this critical gap, protecting your property wherever it goes.

What types of property are typically covered by Inland Marine insurance?

This policy is very flexible and can cover a wide range of mobile assets, including:

• Contractor's Tools and Equipment: Hand tools, power tools, and heavy mobile machinery.

• Motor Truck Cargo: Goods and products you are transporting for a client.

• Computers & Electronic Data: Laptops, servers, and other tech equipment, especially while off-site.

• Fine Art & Collectibles: Artwork, sculptures, and valuable items on display or in transit.

• Bailee's Customer Goods: Property owned by your customers that is in your care (e.g., items being repaired or serviced).

• Accounts Receivable: Protects against the loss of your financial records, which could prevent you from collecting money owed to you.

What is a "floater" policy?

A "floater" is a common term for an Inland Marine policy. The name reflects the fact that the coverage "floats" along with the insured property, protecting it wherever it happens to be.

What does a Contractor's Tools and Equipment policy cover?

This is one of the most common types of Inland Marine policies. It protects a contractor's valuable tools and mobile machinery (like generators or forklifts) from risks like theft from a job site, damage during transport, or fire.

What is Motor Truck Cargo insurance?

If your business transports goods for others (like a trucking or delivery service), this coverage is essential. It protects the owner of the cargo from financial loss if their goods are lost or damaged while in your possession.

What is Bailee's Customer Coverage?

This is crucial if you take temporary possession of your customers' property for service or repair. It covers loss or damage to their items while they're in your care, custody, or control. Businesses like computer repair shops, dry cleaners, and storage facilities need this.

What is an Installation Floater?

An Installation Floater is a specialized policy for contractors. It covers materials and equipment from the moment they leave your shop until they are fully installed and accepted by the client. This is vital for trades like HVAC, plumbing, and electrical work in the Houston area.

Does Inland Marine cover fine art or valuable collections?

Yes. A Fine Art Floater is a specific type of Inland Marine policy designed to provide broad coverage for paintings, sculptures, and other valuable pieces, whether they're on display, in storage, or being transported to a gallery or client.

What is Accounts Receivable insurance?

This coverage is designed to reimburse you for money you're unable to collect from customers because your billing and accounts receivable records were damaged or destroyed by a covered event, like a fire at your office.

What is Electronic Data Processing (EDP) insurance?

EDP insurance is a specialized Inland Marine policy that covers computer systems, software, and electronic data. It protects against risks like power surges, hardware breakdown, and data loss, which are often excluded from standard property policies.

What kinds of perils or risks are covered?

Inland Marine policies are typically written on an "open peril" or "all-risk" basis. This means they cover losses from all causes except those specifically listed as exclusions in the policy. Common covered perils include theft, fire, windstorms, and transit-related damage.

Is my property covered anywhere in the country?

Generally, yes. Most Inland Marine policies provide coverage for your property anywhere within the policy territory, which is typically the United States and Canada.

How is the value of my property determined for this policy?

You can typically choose between two valuation methods:

• Replacement Cost (RC): Pays the cost to replace the damaged item with a new one of similar kind and quality, with no deduction for depreciation. This is usually recommended.

• Actual Cash Value (ACV): Pays the replacement cost minus depreciation due to age and wear.

What is not typically covered by Inland Marine insurance?

Common exclusions include intentional damage, normal wear and tear, insects or vermin, and damage from floods or earthquakes (which require separate policies). Stationary property at your main business location is also not covered—that falls under your Commercial Property policy.

How much does Inland Marine insurance cost?

The cost is generally very affordable and is based on the type and value of the property you are insuring. A policy for a contractor's hand tools will cost significantly less than one covering heavy construction equipment or fine art.

What factors influence the cost of my premium?

Key factors include:

• The total value of the property being insured.

• The type of property (e.g., durable equipment vs. fragile electronics).

• The level of risk (e.g., property stored on a secured job site vs. an open one).

• Your claims history.

• The deductible you choose.

Does this policy cover property while it's being shipped by sea or air?

No. Inland Marine is for land-based transport. For shipping property internationally or over water, you would need a separate Ocean Marine Insurance policy.

My tools were stolen from a locked job site overnight. Is that covered?

Yes. Theft is one of the most common claims filed under an Inland Marine policy. This scenario is a primary reason why contractors need this essential coverage.

How do I file an Inland Marine claim?

If your property is lost, stolen, or damaged, contact our agency as soon as possible. Be prepared to provide a description of what happened, a list of the affected items, and any supporting documentation you have, such as a police report in the case of theft.

What documentation do I need to insure my equipment?

To get an accurate quote and ensure a smooth claims process, it's best to have a detailed inventory of your property. This should include descriptions, serial numbers, purchase dates, and original costs or receipts for each item. Photos are also extremely helpful.

Can I add Inland Marine coverage to my Business Owner's Policy (BOP)?

Yes, in some cases. Many insurers offer limited Inland Marine coverage as an optional endorsement to a BOP, which can be a great, cost-effective solution for businesses with smaller amounts of mobile property. For businesses with higher-value equipment, a standalone policy is often the better choice.

How do I know how much Inland Marine coverage I need?

You should insure your property for its full replacement value. The best way to determine this is to create a comprehensive inventory of all your mobile tools, equipment, and other assets. We can help you walk through this process to make sure you have the right amount of coverage without any gaps.

Customer Reviews

See what our clients say about inland marine insurance.

Inland marine insurance has been a lifesaver for us.

Gary T.

Clear Lake, TX

Our business relies on inland marine coverage for protection against losses.

Sarah L.

Missouri City, TX

★★★★★

★★★★★