Inland Marine Coverage

Inland Marine Insurance (transportation insurance) provides coverage for property damage or destruction of an insured's property and liability exposure of an insured for damage or destruction of property owned by someone else that is under his or her care, custody or control.

The insured (shipper) needs this insurance because the carrier (who can also be the insured and purchase inland marine insurance) may be found not at fault for damage to a property. Or, the carrier may not have any insurance or adequate insurance.

Inland Marine policies became known as "floaters" since the property to which coverage was originally extended was essentially "floating".