inland marine insurance

Definition

Insurance provided to cover the loss to movable or moving property that is a subset of ocean marine insurance. The insurance policy covers the property while in transit including while crossing an ocean, and utilizing bridges and tunnels as a method of transportation.

Use this term in a sentence

  • Derek had gotten a great deal on inland marine insurance from Advertisement Opportunity Here, Inc, and therefore wasn't worried when a tunnel collapsed on his yacht.

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  • You may need to have some inland marine insurance if you will be doing lots of business in or near to the ocean.

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  • The inland marine insurance was a recommendation given to us by the captain who wanted to remove risk from the equation.

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