Inland Marine Insurance in NJ
Are your goods, merchandise or supplies protected on the road or rail?
Since you operate a business on the East coast, you may receive goods from a cargo ship. If you are a wholesaler, ensuring those goods go from the sea to the places of destination without damage or loss, is essential to the success, or failure, of your business. Once those items reach the dock and offload, Inland Marine Insurance will protect your company.
What is the Difference Between Ocean Marine and Inland Marine?
For Ocean Marine Insurance, goods are covered if they are shipped or transported on a ship over the open water.
When goods are offloaded from a sea-faring vessel onto a land vessel, then Inland Marine Insurance is the coverage you need.
In New Jersey, Inland Marine Insurance protects your property from theft, damage or loss between the shipyard and its destination.
Inland Marine
Originally, it’s purpose was to cover the transport of goods on inland waterways from a shipper to the receiver.
Today, there is additional coverage for goods that are offloaded from ocean vessels onto trucks or trains and shipped on roads or rails.
Why Does My Business Need Inland Marine Coverage?
If your business ships goods either by water, rail or road, your business needs an Inland or Ocean Marine Insurance policy, since ordinary business policies don’t cover goods shipped.
Most shipping companies have limits on their liability totals and will often exclude certain goods or volumes from any coverage. To make sure your items are covered, it’s wise to obtain Inland Marine Insurance coverage before it’s too late.
Not only is business property covered, but personal property can be covered with a policy. This includes items such as jewelry, furs, fine art, cameras, musical instruments, cameras, sports equipment and computers.
The products you move from place to place are the core of your business. Whether you are shipping equipment your company needs for a job or goods for a customer, if assets are lost, your bottom line suffers.
Inland Marine Insurance will protect your business from any losses during shipment.
New Jersey Business Trends
Manufacturing is an industry that is again on the rise in New Jersey because our location remains economically and viable for shipping and receiving. Businesses that go into manufacturing can keep costs low due to their coastal location as more manufacturing opportunities return to the US.
Inland Marine Insurance is a safeguard to consider when going into this growing and profitable industry. The monthly premiums are affordable and can be customized to fit the needs of your business.
