Inland and Ocean Marine
Inland and ocean marine insurance indemnifies loss to moving or movable property. Despite the word marine, inland marine insurance covers property on land while ocean marine insurance provides coverage for damage or destruction to a ship’s hull and ship’s cargo.
Inland marine policies became known as “floaters” as the property to which coverage was originally extended was essentially “floating.” The coverage has grown to include property that involves just an element of transportation.
Property that is insured under inland marine coverage is typically one of the following:
- Actually in transit
- Held by a bailee
- At a fixed location that is an instrument of transportation
- A movable type of goods that is often at different locations
At XS Brokers our underwriters are well versed in both inland marine and ocean marine products. We will help you find the right program of coverage to protect your clients from loss.
Target Inland Marine classes include:
- Bailee Customer’s Goods
- Builders’ Risk (new and renovation)
- Communication Towers and Equipment
- Contractors Equipment
- Fine Arts
- Mobile Medical Equipment
- Motor Truck Cargo
- Processing Risks
- Rigger’s Liability
- Warehouse Legal
Target Ocean Marine classes:
- Docks, Wharves & Piers
- Marine Contractors (all types)