While standard commercial property insurance provides sufficient equipment coverage for many businesses, this may not be enough if your business frequently ships products, materials, and machinery to other areas.

Generally, standard property insurance policies only cover equipment that are on your premises. If your business routinely transports tools and machinery off your location, you might need an inland marine equipment insurance coverage for added protection.

An inland marine policy, more commonly known as equipment insurance, is a special kind of property insurance that is specifically for properties that are likely to be moved or often in transit.

So, how do you determine if your business needs inland marine insurance?

As a general rule, any property that is frequently moved from place to place or regularly leaves the primary insured location is eligible for an equipment insurance policy. This includes construction tools and machinery, transportation equipment, mobile medical equipment, communication, networking equipment, and the like.

Many business owners have filed claims on property that they store or use off-site, only to discover that their insurance does not cover their claim. In the modern insurance industry landscape, inland marine coverage can fill in the gaps that traditional property insurance may fail to include.

Here at Bennett and Porter, we understand that mobility is an integral part of many businesses. If you’re looking for extra protection for your commercial equipment, we have insurance advisors to assist you with any concerns you might have about business equipment insurance. Rest assured,our team of insurance experts will work hard to hook you up with the best and most affordable policies for your needs.

Get in touch with Bennett and Porter today and let one of our Certified Financial Planners help you come to the right decision!