"When contractors who aren't familiar with the term are told they should have 'inland marine insurance' coverage for the first time, they tend to respond with puzzlement and bewilderment," said
Mroz's article explains that when the term was first coined, its purpose existed to cover items that were in transport on ships, but it has come to take on a whole new meaning since its advent many years ago.
Today, inland marine insurance covers tools, equipment and other valuable property possessed by contractors while either in transport to, or sitting on, any job site that is far away from the contractor's home base office. The article goes on to point out that the supplementary coverage protects against damaged, broken or stolen property, even if it is in the hands of a bailee at the time of incident.
Mroz recommended that any contractor who owns equipment that is valuable and instrumental in his or her business consider obtaining an inland marine insurance policy. To read the article in full, or to learn more about the contractor's liability insurance provider serving
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