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Our Inland Marine Insurance provides coverage for high-value, movable items and those typically excluded by a standard business owner's policy's property coverage. It includes goods in transit, communication equipment, movable equipment, and other specialized property, providing steadfast protection against loss or damage.

Risk or Perils that may be covered by inland marine insurance may include:

Wind
Fire
Theft
Water Damage
Hail

Besides the standard coverages, an inland marine insurance policy can also offer extra protections scenarios, such as :

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Review your insurance policy diligently or consult with your agent to gain clear insights into what potential risks are covered (and not covered) by your inland marine insurance.
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Inland marine insurance generally offers protection to a broad spectrum of specialized equipment and materials utilized in the course of your business operations. For instance:

Communication and networking equipment
Computer systems and personal computers
Equipment related to construction or contracting
Apparatus used in medical and scientific fields
Exhibits for trade shows
Demonstrative sales samples
Equipment used in photography
Deliverable cargo or items
Various types of tools

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Every business has unique needs, which is why Kovalev Insurance Agency’s Inland Marine Insurance offers varying deductibles and limits.

Inland marine insurance includes a deductible, which signifies the money you disburse upfront for a claim covered by the policy. The deductible is mentioned in your policy, and when you acquire coverage, you have the flexibility to choose a deductible that aligns with your business's financial comfort.
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Moreover, Inland marine insurance comes with a coverage limit. In the event of a covered claim, your insurer's reimbursement will only reach up to the policy's predetermined limit.
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If your business property gets damaged in a covered claim, the reimbursement might be on an actual cash value basis or a replacement cost basis. Under an actual cash value policy, the depreciated value of the damaged property is reimbursed. Conversely, with replacement cost coverage, you receive reimbursement for the current market cost to replace the damaged property. To understand the reimbursement method under your inland marine policy, it's recommended to review your policy carefully or consult your agent.

Lastly, it's crucial to opt for coverage limits that truthfully represent your movable business property's value. Certain inland marine policies incorporate a coinsurance clause that could result in penalties if you submit a claim surpassing the coverage limits by a specified percentage.

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Companies with portable assets could find inland marine insurance beneficial. It's crucial to ascertain whether your prevailing Massachusetts commercial insurance does not cover aspects of your business activities. For instance, your photography studio's cameras, lights, and other equipment may be covered under your business owner's insurance policy. However, this coverage may not extend if these items are transported elsewhere for a photoshoot. Should an accident or theft occur during transit, inland marine insurance would come in handy to bridge this coverage gap.

If you're considering inland marine insurance or unsure whether this insurance suits your business, it's advisable to seek guidance from our top business insurance agents. They can help you evaluate your business's associated risks and requirements.