At Texas Insurance Agency, we recognize the importance of Commercial Inland Marine insurance in protecting your important assets. This insurance is designed exclusively for companies who move goods or hold someone else’s property. Our policies have been strategically formulated to provide complete coverage for your properties, thereby instilling a sense of tranquility and assurance.
Significant trading centers with a large volume of commodities moving from one area to another frequently require protection not just for their goods in transit but also for those kept in multiple locations. This is where we step in. Our Inland Marine Insurance is tailored to your individual needs, whether you transport commodities by land, rail, or inland waterways.
Property in transportation, contractor’s equipment, mobile medical equipment, fine arts, and accounts receivable are all covered under our Inland Marine Insurance. We understand that each firm is unique, with its own set of requirements and obstacles. As a result, we provide tailored solutions that address your specific business requirements while limiting risks and potential losses.
Contractor’s Equipment
Contractor’s Equipment Insurance is designed to secure a wide array of equipment types, such as bulldozers, cranes, forklifts, backhoes, and other essential machinery. The coverage extends to belongings like hand tools, equipment, and even building materials. Whether it’s owned, leased, or rented equipment, we have got you covered. We understand that these essential pieces of machinery and tools are often transported to and from different job sites, and the risk of damage or loss during transit can be high. Our contractor’s equipment coverage ensures that your equipment is protected not only when it’s at the job site but also while in transit.
What it Does and Does Not Cover
Our Inland Marine Contractor’s Equipment Insurance protects your important company machinery and equipment from damage or loss while in transit or at temporary locations.
The policy specifically covers damages caused by the following:
- Equipment theft or vandalism from a safe, locked job site or storage facility.
- Damage caused by mishaps while loading/unloading the equipment.
However, it is important to note that, as with all insurance policies, certain restrictions exist. Generally, the policy does not cover losses caused by:
- Normal degradation, wear & tear, or rust.
- Equipment failure as a result of operator error or a lack of maintenance.
- Loss or damage produced on purpose or as a result of criminal acts.
In some cases, there may also be coverage constraints for highly mobile or easily transferable equipment, such as handheld tools. Always consult with us to ensure that you fully comprehend your coverage.
Who Needs It
Our Inland Marine Contractors Insurance is intended for individuals and businesses involved in a variety of components of building, such as contractors, subcontractors, and builders.
The policy is generally applicable if you:
- Own or rent expensive machinery and equipment that must be transferred between job sites on a regular basis.
- Equipment or materials should be stored in temporary places or on job sites.
- Have construction materials on the way for a project.
Our policy applies to a wide range of construction enterprises, from home builders handling residential projects to civil contractors working on highways or public utilities.
Inland Marine Fine Arts
Fine Arts insurance is a subcategory of Inland Marine Insurance that is specifically designed to safeguard valuable goods such as paintings, sculptures, antiques, and other rare collections.
Our Fine Arts coverage at Texas Insurance Agency provides comprehensive protection for individual works as well as complete collections, whether held by a corporation, a private collector, or a public exhibition. The policy covers these goods while they are in storage, in transit, or on display.
Our Fine Arts coverage protects against a variety of risks, including accidents, theft, vandalism, and other factors. We also consider for an artwork’s value appreciation over time to ensure maximum recompense in the event of loss or damage.
However, ordinary wear and tear, progressive degradation, inherent vice, or damage caused by bad handling, unprofessional packing or unpacking, and lack of maintenance are often excluded from the policy.
Who Needs This Coverage
Our Inland Marine Fine Arts coverage at Texas Insurance Agency is intended for a diverse group of people who own, work with, or simply like art.
This may include:
- Individual collectors: Whether you’re an individual with priceless art pieces in your home or an investor with a large collection spread over various places, our insurance protects your valuable treasures.
- Art galleries and dealers: This coverage can protect your inventory of sculptures, paintings, and comparable items.
- Museums: Institutions that house priceless relics and works of art must undoubtedly protect the safety of their displays.
- Artists: Individuals who want to protect their own works or personal collections from injury or theft.
- Exhibition organizers: Individuals or companies organizing art fairs or exhibitions can safeguard the artwork on display as well as those in transit or storage.
We ensure that your valuable possessions are secured with our wide coverage so that they can be cherished and treasured for years to come.
Inland Marine Mobile Medical Equipment
Dealing with mobile medical equipment can be complicated and difficult, especially given its high value and vital role in providing healthcare services.
Texas Insurance Agency provides coverage for a diverse range of mobile medical devices and equipment. Everything from portable imaging machines and diagnostic instruments to hospital beds and wheelchairs is included.
Our Inland Marine Insurance provides the entire financial protection you require in the case of theft, fire, collision, overturn, or natural disasters causing loss or damage to your mobile medical equipment.
Please keep in mind that while our coverage is comprehensive, there are some exclusions as per typical insurance requirements. These often include losses caused by general wear and tear, degradation, and equipment malfunction as a result of operator error or insufficient maintenance.
Inclusions and Exclusions
Our coverage includes, but is not limited to, the scenarios listed below:
- Transit accidents or loss: If your equipment is damaged or lost while being transported, our policy covers the cost of repairs or replacement.
- Theft and vandalism: Our coverage protects against loss or damage caused by theft or malicious damage.
However, it is crucial to highlight that some situations are not covered by this policy.
Typical examples include:
- Normal wear and tear or progressive deterioration: The coverage does not cover losses caused by normal aging or equipment maintenance concerns.
- Equipment failure: If the equipment fails as a result of misuse, incorrect usage, or a lack of maintenance, the policy will most likely not cover the repairs.
Furthermore, the coverage does not cover any intentional harm or damage caused by illegal actions. It is always wise to study your policy documentation or visit with one of our agents immediately to learn the specifics of what is and is not covered.
Who Should Have This Coverage
Texas Insurance Agency’s Inland Marine Mobile Medical Equipment Insurance is designed for individuals or organizations that own, lease, or operate medical equipment, particularly if it is regularly on the road. The policy is especially relevant to:
- Healthcare Providers: Hospitals, clinics, and other healthcare facilities that use mobile diagnostic devices or provide in-home care.
- Medical Equipment Leasing Companies: Businesses that lease medical equipment to healthcare providers, ensuring that their assets are safe on-site and in transportation.
- Home Healthcare Services: Providers of in-home medical treatment who must transfer medical equipment from one patient’s house to another on a regular basis.
- Mobile Clinics: Health organizations that deploy mobile medical units to provide community outreach programs or emergency response services.
- Medical Research and Testing Laboratories: Facilities that may need to transport expensive, delicate equipment from one site to another for various projects or testing requirements.
Our policy gives you peace of mind knowing that your critical medical equipment is protected against physical loss or damage while in transit or at a specified location. We understand the healthcare industry’s special requirements and exposures, and our Inland Marine Mobile Medical Equipment Insurance is designed to assist you in providing important health services.
Accounts Receivable
At Texas Insurance Agency, we recognize that your accounts receivable are assets that, like any other physical property, require protection. Unexpected circumstances might occur, and vital financial documentation can be lost or damaged, resulting in revenue loss.
Our Inland Marine Insurance Accounts Receivable coverage is specifically tailored for this situation. It offers comprehensive security for money due to you by clients but not yet received. If something happens to your accounts receivable records as a result of a covered risk, our policy will come to your aid.
Our insurance policy protects you against the following losses:
- Money owed to you that you are unable to collect due to lost or destroyed records.
- Additional expenses incurred in re-establishing your accounts receivable records.
- Interest on loans you need to secure since customer payments were delayed owing to the reconstruction of your accounts receivable.
However, keep in mind that our coverage does not cover damages caused by bookkeeping, accounting, or invoicing errors and omissions. The same is true for losses that are purposefully produced.
In this complex corporate context, we strive to keep your finances secure and resilient to unforeseen events. You’ll have one less financial risk to worry about with our Accounts
Receivable coverage.
Who Needs This Coverage
Our Inland Marine Accounts Receivable insurance at Texas Insurance Agency is designed for all types of organizations that deal with accounts receivable. This includes, but is not limited to, the following:
- Small businesses: Owners who run a tight ship where uncollected payments or missing financial documents can have a substantial impact on the financial viability of their organization.
- Large corporations: Companies with a high amount of overdue payments, where the loss of accounts receivable records could have a significant financial impact.
- Manufacturing firms: Firms that sell items on terms and have a large portion of their capital in the form of accounts receivable.
- Service businesses: Companies that first supply services and then collect payments.
Our insurance helps to reduce the risk of financial losses due to the loss or damage of accounts receivable records. Whether you are the victim of a natural disaster, an accident, or theft that results in the loss or damage of these records, our coverage provides the required financial protection.
In this dynamic business environment, having our Accounts Receivable coverage could be a vital element of your risk management plan, ensuring you are well-prepared to deal with any unforeseen mishaps.
Additional Coverage You Might Need
At Texas Insurance Agency, we recognize that bundling your Commercial Inland Marine Insurance with additional products can give your company with a strong, all-encompassing insurance package. Other insurance that complements Inland Marine Insurance include:
Commercial Property Insurance Protects your structure, equipment, inventory, and furnishings from damage caused by a fire, storm, or theft.
General Liability Insurance Protects your company from financial loss if you are found accountable for property damage, personal injury, or advertising injury as a result of your services, business operations, or staff.
Business Interruption Insurance This covers income lost due to a damages or other disaster that impairs business operations.
Workers’ Compensation Insurance Required by law in most jurisdictions, this insurance covers medical care, disability, and death compensation if your employees are injured or killed on the job.
Commercial Auto Insurance If your company owns vehicles or your staff drives for work, this insurance covers any accident-related charges.
Cyber Liability Insurance With threats such as data breaches and cyber attacks in today’s digital era, protecting your digital assets and sensitive consumer information is critical.
Professional Liability Insurance Also known as Errors and Omissions Insurance, this covers financial losses caused by professional errors, negligence, or omissions that result in financial loss or damage to a client.
Commercial Umbrella Insurance This policy increases the limitations of your primary commercial liability coverage. If a liability claim exceeds the normal business coverage limit, your commercial umbrella policy may be able to cover the difference.
Directors and Officers Insurance This protects a company’s directors and officers against personal losses if they are sued for anything relating to their corporate activities while serving as a director or officer.
Employment Practices Liability Insurance This safeguards companies against potential employee claims of discrimination, wrongful termination, harassment, and retaliation.
By combining these coverages with your Commercial Inland Marine Insurance, you may create a larger safety net for your company, safeguarding it from a number of dangers. Texas Insurance Agency is ready to assist you in designing the ideal insurance package to meet your specific company needs.
Contact Texas Insurance Agency for more information about our Commercial Inland Marine Insurance coverage. We have expert agents waiting to take your call and answer any questions or concerns you may have.
Our insurance agency is happy to cater to clients located in the greater Houston area, including Katy, North Houston, and Pearland, Texas area. Give us a call today.
