How Inland Marine Insurance Works for North Carolina Businesses

Running a business in North Carolina often means relying on property that travels beyond the walls of your main office or warehouse. Whether you are a contractor hauling tools to a job site in Raleigh, a retailer moving merchandise to a store in Asheville, or a healthcare provider using mobile equipment in rural areas, protecting property while it is away from your primary location can be a challenge.

Inland Marine Insurance is one coverage option businesses explore to help address these needs. At Laurie Insurance Group, we work with local businesses to help them understand how Inland Marine Insurance may fit into their broader insurance strategy.

What is Inland Marine Insurance?

Inland Marine Insurance is designed to help with movable or specialized property. While the name may sound like it relates to boats, it actually applies to property transported over land. Unlike standard commercial property insurance that typically applies only at your business location, Inland Marine Insurance can extend coverage to tools, goods, and equipment while they are in transit or stored temporarily off-site.

For North Carolina businesses that frequently move property from place to place, this can be an important way to help reduce potential risks.

Why Might North Carolina Businesses Consider Inland Marine Insurance?

North Carolina’s economy is diverse, with industries ranging from agriculture and construction to technology and healthcare. Many of these businesses rely on property that is constantly on the move. For example:

• A construction company in Greensboro may need to protect heavy equipment and contractor tools that are stored at multiple job sites.
• A retail business in Charlotte shipping inventory to regional stores might want coverage for goods in transit.
• A medical provider in rural areas could be concerned about mobile diagnostic machines used at patient homes.
• An event planner in Wilmington might transport sound systems, tents, and staging equipment to venues across the state.

In each of these cases, Inland Marine Insurance can provide an extra layer of protection that standard property coverage may not extend.

What Types of Property Can Inland Marine Insurance Address?

Inland Marine Insurance can be tailored to cover a wide range of property types. Examples include:

• Contractor’s equipment and tools – from bulldozers and excavators to smaller hand tools transported to job sites.
• Goods in transit – such as wholesale shipments of furniture moving from High Point to Raleigh retailers.
• Mobile medical equipment – including X-ray units, ultrasound machines, or mobile dental equipment used at temporary clinics.
• Technology equipment – servers, laptops, or AV equipment being installed at client sites.
• Fine art and collectibles – artwork displayed at traveling exhibits or high-value antiques on loan to a gallery.
• Exhibition property – trade show booths, displays, and promotional materials transported across North Carolina.
• Specialty equipment – items like drones, surveying equipment, or film production gear used off-site.

These examples show how Inland Marine Insurance can be shaped to meet the needs of businesses with movable property.

How Does Inland Marine Insurance Work in Practice?

Inland Marine Insurance generally follows the property wherever it goes within the covered territory. Here are a few scenarios that illustrate how it may come into play for North Carolina businesses:

• Construction example: A contractor in Raleigh leaves expensive power tools locked in a trailer at a job site overnight. If the trailer is broken into and the tools are stolen, Inland Marine Insurance may help address the loss.
• Retail example: A boutique in Asheville ships a collection of handmade goods to a local craft fair. During transportation, the items are damaged in a vehicle accident. Inland Marine coverage could help protect against this type of risk.
• Medical example: A mobile ultrasound machine used in rural health visits is damaged while being transported between locations. Inland Marine Insurance may help with repair or replacement costs.
• Event planning example: An event company in Wilmington has staging equipment damaged while being set up at an outdoor venue. Inland Marine coverage may extend to property used temporarily off-site.
• Technology example: A Charlotte-based IT company brings high-value servers to a client’s office for installation. If the equipment is damaged in transit, Inland Marine Insurance could help address the situation.

These situations highlight why Inland Marine Insurance is sometimes considered by North Carolina businesses that depend on property in motion.

How Does Inland Marine Insurance Differ From Standard Property Insurance?

Standard property insurance is usually designed to protect assets located at your main business address. Inland Marine Insurance, on the other hand, is geared toward protecting property that moves between locations or is stored temporarily off-site.

For example, if a Greensboro landscaping company keeps mowers and trimmers at its main shop, those may be covered under standard property insurance. But if those tools are loaded into a truck and damaged in transit to a client’s property, Inland Marine Insurance may be what provides protection.

This distinction makes Inland Marine Insurance particularly relevant to businesses that are not tied to a single physical location.

How Much Does Inland Marine Insurance Cost in North Carolina?

The cost of Inland Marine Insurance can vary depending on several factors, such as:

• The type and value of the property being insured
• How frequently the property is transported
• The distance and method of transportation
• The specific industry and risks involved

A company with high-value construction machinery may pay more than a small business with portable tools. Because every situation is different, a consultation with Laurie Insurance Group can help determine what Inland Marine Insurance options may make sense for your budget and risk profile.

How Can Businesses Decide If Inland Marine Insurance is Right for Them?

The decision often comes down to how your business uses property. If your operations require you to ship products, store goods off-site, or rely on equipment that frequently travels, Inland Marine Insurance may be an option to consider. 

Asking questions like “Where is my property most vulnerable?” and “Would my standard property policy apply outside my main location?” can help guide your decision.

How Can You Get Started With Inland Marine Insurance?

Getting started is as simple as reaching out. Laurie Insurance Group offers personalized consultations for North Carolina businesses interested in Inland Marine Insurance. We can review your current coverage, identify areas where Inland Marine Insurance might apply, and help you design a plan that supports your growth and success.