If your client’s business is mobile in any way or involves unique or valuable property that they have in their custody, adding inland marine insurance as part of their New York Business Insurance plan is a must. Simply because it covers not only their goods in transit on land, but also the property of others that is located at their premises or being transported to or from their warehouse or other business location.
An inland marine policy will even cover loss or damage to property belonging to others while the property is in their possession. If they clean, service, or repair the property of others, they can certainly benefit from this coverage.
In fact, depending on the type of small business they’re running, inland marine coverage could be the key to protecting much of their business property. This is a fundamental need if the business transports property of any kind. It can also be vital for buildings currently under construction.
An inland marine policy covers a lot of ground
Your clients should also consider everything that their staff and employees put into a vehicle for transport purposes during the day to keep their business going. This includes tools, business equipment, computer data, building plans and much more.
Suggest to them that their property insurance policy might not be enough to protect items they need in order to do business. Many property policies limit coverage to within a certain number of feet from a designated business address, which doesn’t help if their equipment is damaged at a job site miles from their office.
Having property that’s moved from place to place on a regular basis makes inland marine coverage crucial. This way, everything’s covered while in transit, sitting in a company vehicle or at a job site. Let them know that any personal auto policy likely will not fully cover these items.
You might also explain to them that inland marine insurance isn’t necessary only for contractors. Valuable papers, portable computers and the data contained on them, along with items to be shipped can all be covered under their New York Business Insurance Inland Marine policy.