21-C Fort Evans Road, NELeesburg, VA 20176

Insurance professionals that have your back

Call Us 703-777-2920

Call Us Today!

Home » Commercial: Does Property Insurance Cover Property in Transit? 
May 29, 2024
Academy Insurance Agency

Commercial: Does Property Insurance Cover Property in Transit? 

red and black boat on beach during daytime with inland marine insurance while in transitMany businesses rely on crucial, tangible assets to conduct operations and maintain functions.

However, regardless of safety measures, precautions or how diligent your company may be about maintenance, damage and defects may eventually befall your assets.

Fortunately, the right insurance can make all the difference in financially protecting various property types, including equipment, tools, electronic devices and inventory.

But what about when your property may be transported to other locations? For many companies, such as contractors, traveling sales businesses and others that provide off-site services, adequately insuring assets may require extra steps.

Fortunately, the dedicated team at Academy Insurance Agency has the knowledge and experience to assist you in understanding how to ensure your property remains suitably covered regardless of location.

When Does Commercial Property Insurance Provide Coverage?

Commercial property insurance is one of the most frequently purchased types of business insurance among U.S. companies. As its name suggests, this type of coverage can provide versatile financial protection for various physical assets, such as structures, machinery, furniture and materials.

However, these policies also include key limitations, including coverage exclusions for property that is transported or stored off-site. In these situations, your company should pursue inland marine insurance.

What Is Inland Marine Insurance?

Inland marine insurance is an essential investment for any business that regularly moves property it owns or is responsible for. In a sense, inland marine insurance can be seen as a mobile form of commercial property insurance, transporting coverage along with your insured assets to maintain financial security in various locations.

Specifically, inland marine insurance may be valuable for covering the following:

  • Property in transit, such as machinery or tools being transported by a contractor to a construction site
  • Property stored off-site, such as the aforementioned tools or building materials left at a job site
  • Property in a business’s temporary care, such as clients’ property that businesses are entrusted to transport or store in off-site premises
  • Assets in mobile locations, such as heavy machinery or equipment installed in a van, truck or other commercial motor vehicle

While exact capabilities and limitations may vary, inland marine insurance policies typically list many common perils, including the following:

  • Theft
  • Fire
  • Water damage
  • Wind
  • Hail
  • Vandalism
  • Accidents
  • Mishandling

How Much Does Inland Marine Insurance Cost?

Rates may vary depending on several factors, such as the following:

  • Industry
  • Location
  • Value of insured assets
  • Prior claims history
  • Coverage limits

We’re Here to Help

At Academy Insurance Agency, we’ve proudly served thousands of clients in the Leesburg and Purcellville areas for five decades. Our dedicated team will draw on its collective knowledge to help you understand your coverage needs and maintain ideal financial security.

Contact us today to learn more or to get a tailored inland marine insurance quote.


This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.


Categories: Blog

Tags: commercial property insurance, in transit, inland marine insurance

Leave a Reply

Your email address will not be published. Required fields are marked *