Does Your NJ Business Need Inland Marine Coverage?

Does Your NJ Business Need Inland Marine CoverageOperating a business on the East Coast means that you more than likely receive product on cargo ships. As a wholesaler, you understand that delivering your goods on time and in fair condition is essential to your success. In order to safeguard your product from potential damage or loss in transit from the shipping dock to its final destination- your business- don’t hesitate to implement a Clifton Inland Marine Insurance policy.

An inland marine policy covers a wide range of risks that you might not expect. According to International Risk Management Institute, inland marine is property insurance for property in transit over land, including certain types of movable property, instrumentalities of transportation (such as roads, bridges, and piers), and also covers legal liability exposures. Further, it also covers products in custody of a bailee- or a person who assumes temporary custody for the purpose of a service such as repair. Although the construction and transportation industries account for an estimated 60% of the policies, any shipment that needs transit or any moving property can be classified as inland marine.

Examples of products that would benefit from this coverage include, but are not limited to, builder’s risk, fine arts, motor truck cargo, instruments, high value jewelry, medical and construction equipment, and exhibitions. If your wholesale industry provides any of the above listed goods, it is critical to protect them completely with an inland marine plan.

In the event your goods are stolen, lost, or damaged in transit, your insurance agency can help to recover the financial loss.

At Tri-State Insurance Agency, we specialize in crafting customized insurance solutions for wholesale businessess like yours. We understand that your goods need to be delivered to you promptly and in good working condition in order to meet your customers’ needs. Contact one of our knowledgeable representatives today to learn more about our industry specific solutions at (888) 990-0526.

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