Inland Marine Insurance in Ontario
Protect Your Business Assets
Businesses that transport valuable equipment, tools, or goods need protection beyond standard insurance policies. Inland Marine Insurance provides coverage for assets in transit or stored offsite, safeguarding against loss, theft, or damage. Whether you are a contractor, retailer, or manufacturer in Ontario, securing an inland marine policy is essential to protect your business from unforeseen risks.
GET A QUOTEWhy Choose Affiliated Insurance?
- Expertise in Inland Marine Coverage: We have extensive experience helping businesses protect their assets in transit and at temporary locations.
- Tailored Policies: Our insurance solutions are customized to fit your specific industry and business needs.
- Competitive Pricing: We offer affordable coverage options without compromising on quality.
- Strong Claims Support: Our team is dedicated to providing fast and efficient claims processing to minimize business disruptions.
- Comprehensive Risk Assessment: We work with you to identify potential risks and offer guidance on best practices for asset protection.
- Customer-Centric Approach: Our specialists provide personalized service and ongoing policy reviews to ensure you always have the best coverage.
What is Inland Marine Insurance?
Inland Marine Insurance is designed to protect movable property that is frequently transported between locations. Originally created for ocean shipping, this insurance has evolved to cover land-based transportation and storage. Unlike traditional property insurance, which only applies to fixed locations, inland marine insurance ensures comprehensive protection for assets on the move or temporarily housed in warehouses and job sites.
GET A QUOTE
Who Needs Inland Marine Insurance?
Inland Marine Insurance is beneficial for businesses that:
- Regularly transport goods, equipment, or inventory.
- Store property at multiple locations.
- Use high-value tools or specialized equipment.
- Handle customer-owned property for repairs or installation.
Why Inland Marine Insurance is Essential for Ontario Businesses
Businesses face numerous risks when transporting and storing property. Theft, damage, and weather-related incidents can cause financial losses that disrupt operations. Since commercial property insurance does not cover assets in transit, inland marine insurance serves as a crucial safeguard, offering peace of mind and financial security. With the right policy in place, businesses can continue operations without worrying about unexpected losses.
GET A QUOTEIndustries That Require Inland Marine Insurance
- Construction: Covers tools, machinery, and materials transported to job sites.
- Retail & Wholesale: Protects goods shipped to stores or distribution centers.
- Manufacturing: Ensures raw materials and finished products are covered during transport.
- Technology & Healthcare: Covers medical devices and IT equipment being moved between locations.
- Fine Arts & Collectibles: Protects artwork and valuable collectibles during transit.
Inland Marine Insurance Protect Coverage Options
A standard inland marine policy includes protection for:
- Theft & Vandalism: Covers stolen or damaged assets while in transit.
- Accidental Damage: Protection against breakage or mishandling during transportation.
- Property on Temporary Sites: Ensures protection for items stored away from the business location
- Equipment in Transit: Provides coverage for tools and machinery moved between job sites.
- Bailee’s Coverage: Covers customer property in your care, such as repair services.
- Weather-Related Incidents: Protects assets from floods, storms, and fires.
Our Commercial Insurance Solutions
Beyond inland marine insurance, we offer a range of business insurance solutions tailored to protect your company from various risks.
What Inland Marine Insurance Does Not Cover
- Normal Wear and Tear: Damage from regular use is not covered.
- Intentional Damage or Fraud: Losses caused by deliberate actions are excluded.
- Loss Due to War or Government Seizure: Policies do not cover confiscation by authorities.
- Mechanical Breakdown: Poor maintenance leading to equipment failure is not covered.
Cost of Inland Marine Insurance in Ontario
On average, businesses in Ontario can expect to pay between $250 and $2,500 annually, depending on coverage needs.
The cost of inland marine insurance depends on multiple factors, including:
- Type of Property Insured: High-value items often require higher premiums.
- Coverage Limits & Deductibles: Higher limits mean higher costs, while a higher deductible can lower premiums.
- Business Operations & Transit Frequency: Frequent transportation increases risk and may result in higher premiums.
- Security Measures in Place: Businesses using GPS tracking and secure packaging may qualify for lower rates.
Choosing the Right Insurance Broker
Selecting the right insurance provider is essential. Consider:
- Industry Experience: Choose a broker with expertise in inland marine coverage.
- Policy Customization: Ensure flexible options tailored to your business.
- Claims Support: Look for a provider with a strong claims assistance team.
- Competitive Pricing: Compare multiple quotes to find the best coverage at an affordable rate.
How to Obtain Inland Marine Insurance
Steps to Get Covered:
- Evaluate Your Coverage Needs: Identify the assets requiring protection.
- Request a Quote: Speak with our insurance specialists to get a customized policy.
- Compare Coverage Options: Choose the policy that best fits your business operations.
- Implement Security Measures: Strengthen risk management with tracking, secure packaging, and proper storage.
- Purchase & Maintain Coverage: Regularly review and update your policy as your business grows.
Get a Quote Today
Protect your business assets with a reliable inland marine insurance policy. Whether you transport equipment, inventory, or high-value goods, we provide tailored solutions to meet your specific needs.
GET A QUOTE
We Serve These Areas:
- Business Insurance Ontario
- Business Insurance Oakville
- Business Insurance Burlington
- Business Insurance Wasaga Beach
- Business Insurance Toronto
- Contractors Insurance Ontario
- Contractors Insurance Toronto
- Fleet Insurance Ontario
- Commercial Property Insurance Ontario
FAQ
No, but it is strongly recommended for businesses transporting goods or equipment.
Yes, many policies extend coverage to leased or rented tools and machinery.
While commercial property insurance covers fixed locations, inland marine insurance protects assets in transit or offsite.
No, inland marine insurance applies to land-based transport within Canada. International shipments may require ocean marine coverage.
Implementing security measures like GPS tracking and proper packaging can reduce premiums.