Inland Marine Insurance is a type of marine insurance coverage that can protect a wide array of technical property. For example, if you're a DJ, inland marine insurance can protect your equipment while in transit or while at a location other than your primary office space. Homeowners’ and Renters’ insurance policies may only cover equipment kept in your home, but as soon as it leaves those locations you are responsible for any costs associated with damaged or destroyed equipment.
You may have also heard the phrase: Floater Insurance, Equipment Insurance, Business Personal Property Insurance
What does Inland Marine Insurance Cover?
Inland Marine Insurance is best for professionals whose job requires traveling with owned or rented equipment (e.g., laptop, speakers, etc.). This coverage can cover other high value items that may be excluded by the property coverage in a typical Business Owners Policy.
Here are a few examples:
- If you are playing at an event and a party-goer spills their drink on your equipment, this can cover the cost of repairing or replacing it.
- If you are playing a gig and someone bumps into the table, knocking your equipment over and destroying it, this can cover the cost of replacing it.
- If you are a DJ traveling to a gig and you get in an accident which damages your equipment stored in the trunk, this type of policy can cover the costs associated with repairing and replacing your equipment.
- If someone breaks into your car and steals your equipment, this can cover the cost of replacing it.