A business owner is not just responsible for their own personal safety, but also the safety of their employees and their property. However, many businesses may have changing needs when transporting their property and need insurance that can protect them from financial loss if something happens during transport. Here are some ways inland marine insurance protects your business and helps achieve your goals.
What Is Inland Marine Insurance?
Inland marine insurance, such as from an insurance Maitland FL company, is a type of business insurance that covers transportation risks. Your business may have a commercial policy, but it might be limited in what it covers when your property is away from the physical location of your business. Whether you need to transport your products or equipment over sea, land or air, or store property in a warehouse off-site, these policies can pay for repair or replacement in case your property is damaged, stolen or lost. Many inland marine policy types will also cover property that belongs to others while it is in your care or custody, such as a home that is under construction or property in a self-storage facility.
Does Your Business Need Inland Marine Insurance?
If your business transports goods, stores property of others or does construction, inland marine insurance is a necessity and you may already have policies to cover those risks. If you own a business like this, you may want to check with your insurance agent regularly to ensure your policies are up-to-date, as these types of risks can change often.
The importance of having this type of insurance coverage when transporting goods or taking care of others’ property is crucial for preventing financial loss for your business. Whether you need coverage for products, vehicles, equipment, cargo, other assets or the property of others, there are many levels of protection available to meet your unique needs.