Inland Marine Insurance (Tools & Equipment)

Inland marine typically covers business property that moves or is stored away from your main location, including tools, mobile equipment, and materials in transit or on job sites. Coverage often applies to theft, damage in transit, and certain perils at temporary locations. Policy details vary by provider.

The name is historical. Marine insurance originally covered goods shipped over water, and inland marine grew out of it to cover goods moving over land. Today it is the standard coverage category for mobile business property like contractor tools and equipment.

Theft of tools from a vehicle is one of the most common inland marine claims, and many policies cover it. Coverage terms vary, and some policies have limits or conditions for unattended vehicles, so it is worth reviewing how a policy handles vehicle theft before purchasing.

Commercial property insurance typically covers property at the fixed location listed on your policy. Inland marine covers property that moves: tools in transit, equipment at job sites, and materials stored temporarily away from your premises. Many businesses that work in the field carry both.

It can. Many policies offer coverage for equipment you lease, rent, or borrow, either built in or as an endorsement. Rental agreements often require you to insure the equipment while it is in your care, so this coverage is worth confirming before you sign one.

Higher-value items are typically scheduled individually on the policy at stated values, while smaller tools are often covered under a blanket limit. Some policies pay replacement cost and others pay actual cash value with depreciation, which is an important difference to check.