What Is The Difference Between Commercial Property Insurance & Inland Marine Insurance?

Commercial property insurance protects the physical location of your business and everything within it, like the building, furniture, computers and any on-site inventory.

It's essential for businesses with significant investments in their physical locations, such as retail stores, hotels, and manufacturing facilities, for safeguarding against damage from fires, weather, natural disasters or theft.

Inland marine insurance, despite the name it has nothing to do with boats but covers your business assets while they're off-site or in transit.

This includes equipment that you transport from one job site to another or products being shipped to customers.

It is crucial for sectors like construction and contracting, where tools and machinery move between job sites, and businesses that ship high-value products.

Inland marine insurance ensures these assets are protected against loss or damage outside the business' primary location.

For example, a construction company benefits from inland marine insurance for machinery and tools transported to various sites, offering protection beyond the confines of their main office.

While a retail business relies on commercial property insurance for its inventory within a physical storefront, providing protection for its assets.

If you need help or have questions about your insurance, please feel free to reach out!

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**DISCLAIMER: THIS IS NOT LEGAL ADVICE. USE AT YOUR OWN DISCRETION. THIS VIDEO INCLUDES MICHIGAN INFORMATION ONLY.

[Hhart]

Thanks for the video. So say I'm doing business on location and my photo equipment got stolen - my personal property insurance wouldn't cover this? It would only be covered if I had an inland marine insurance policy? Thanks