If you’re in the transport business, you might need insurance inland marine Houston, TX. Although the name can be counterintuitive, it covers products, materials, and equipment as they’re transported over land. Texas Insurance Agency can help you find the right coverage to ensure your tools and other assets are protected while they’re on the move. Call us today to get a free quote for your insurance inland marine coverage.
What is insurance inland marine coverage?
This is a kind of business insurance that protects goods, materials, and tools while they are being moved by land (like by truck or train) or while they are being stored temporarily somewhere other than the main site of the business.
The name might be confusing because it doesn’t actually mean “marine” or “ocean” coverage. It comes from a time when most things were shipped by sea. Companies that work in construction, transportation, technology, and other fields where goods or equipment move around a lot often often use this type of insurance.
Who needs insurance inland marine coverage?
Many types of companies and people need inland marine insurance, such as:
- Construction companies have to move heavy tools from one job site to another all the time, and they may also store goods in places other than the job sites.
- Tech companies may need insurance inland marine coverage to protect their complicated, pricey computers and equipment that could be in transit or in a data center.
- Transport companies that move things over land need to make sure they are insured.
- Art galleries and dealers need to keep expensive art safe so that it can be moved between auction houses, consignors, and galleries.
- Photography and video studios move their expensive and fragile gear to different places.
- Cleaning or repair services, like carpet cleaners or computer repair services, often move and store customers’ things.
- Musicians who go on tour may also need inland sea insurance to protect their instruments.
The Pros and Cons of Insurance Inland Marine Houston, TX
Like any other type of insurance, inland marine insurance has its pros and cons. You’ll want to go over every detail before you decide if this type of coverage is the right type for you. Texas Insurance Agency can assess your business’s risks and assets to help you determine what your best insurance coverage options are. If insurance inland marine coverage is perfect for your business, we’ll show you all the options you have.
Why inland marine insurance is a good idea:
- Coverage Flexibility: Most inland marine plans can be changed to fit the needs of a person or business.
- Wide Coverage: The policy protects a lot of different things, like tools, equipment, goods, other people’s property, and so on.
- Covers Losses in Transit: This type of insurance protects goods while they’re in transit, which is something that most property insurance plans don’t cover.
- Global Coverage: Depending on the insurance, coverage may be available all over the world, not just in the insured person’s home country or state.
- Cover High-Value Items: A lot of policies can cover high-value items that may need a higher limit or be claimed more often than standard commercial property insurance would.
The downsides of inland marine insurance:
- Policy Complexity: Policies can be hard to understand because they use a lot of different words and conditions for covering.
- Higher Costs: Because the things covered are often more dangerous or expensive, the premium for these plans can be higher than regular property insurance.
- Limited Coverage for Cargo: Some plans may not cover all cargo, especially when it is being moved often.
- Exclusions: There are some things that aren’t covered, like losses caused by natural disasters, broken machines, or normal wear and tear. You’ll want to read the fine print before making a claim to ensure that your incident is covered by your insurance inland marine coverage.
- Regular Audits: A company might have to go through regular audits to make sure that the coverage correctly shows the value of goods that are in transit or being stored off-site, which could make administration more difficult.
Getting the Inland Marine Insurance Coverage You Need
Once you’ve determined that insurance inland marine coverage is what your business needs, we can help you with the rest. Texas Insurance Agency works with local and major insurance companies to provide our clients with as many business insurance options as possible. We can even help you determine how much inland marine coverage you need.
Several factors can affect the price and premium of the inland marine insurance you want. Some of these factors include the type of property you’re transporting, the location, limits, the nature of your business, and possible transit methods. In every case, it’s best to talk to an insurance agent or broker to understand what might change how much the policy costs.
However, you’ll also need to remember that inland marine insurance coverage can’t protect against everything. That’s why you might also need other types of business insurance options to ensure your assets are fully protected. A few examples include commercial property insurance, equipment breakdown insurance, business interruption insurance, or business crime insurance. All businesses have different needs, and we can help you meet them.
Protect Your Assets On the Move
Texas Insurance Agency has helped clients get the insurance they need at an affordable price for years. We’ve partnered with many insurance companies to ensure our clients can get what they need without too much hassle. When you need insurance inland marine coverage or any other type of transport service insurance, we can show you the best options.
Call our office to schedule a meeting with our team to check out your options. Or get a free quote through our online form right now. Our Houston office is also open to answering questions about insurance inland marine coverage for you.
Houston, Texas Fun Facts:
- Houston has the largest medical complex in the world.
- MD Anderson Cancer Center is among the world’s best cancer treatment centers.
- The oldest hospital in the city is St. Joseph Medical Center, which opened in 1887.