Inland Marine Coverage

Inland marine insurance indemnifies loss to moving or moveable property and is an outgrowth of ocean marine insurance. Historically, ocean marine insurance held the transporter responsible for property loss before, during, and after the completion of the voyage. In the 1800’s, the non—ocean portion of the journey grew as cargoes were transferred to barge, etc., and the term “inland marine” was coined. Inland marine policies became known as “floaters” since the property to which coverage was originally extended was essentially “floating.”

 

Looking to learn more?

At The Insurance Center, we want to empower you with knowledge about insurance. Check out our glossary for a listing of important insurance terminology to help you get started.