Marine Insurance in Walnut Creek, CA and surrounding areas
Marine Insurance Quote Forms
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Marine Insurance Information
Your Business Never Sleeps, Protect it Every Step of the Way
Inland marine insurance and ocean marine insurance help protect your company’s equipment or possessions when in transit or stored off-site.
The agents at G. Carbajal Insurance Agency in Walnut Creek, California, are ready to help you get marine insurance to protect your company’s property. Contact us today to get a quote.
What Are the Two Types of Marine Insurance?
There are two primary types of marine insurance: ocean marine and inland marine coverage. Marine insurance is designed to provide coverage for transporting goods on land (inland marine insurance) or on the ocean (ocean marine insurance). It also helps provide coverage for damage to the transportation vessel and to the liability of third parties who may be harmed during the transportation process.
What Does Ocean Marine Insurance Cover?
Ocean marine insurance is a business insurance policy used to help cover the gaps of traditional commercial property insurance. It is a grouping of three coverages to help address the most common risks vessels face when transporting goods:
Ocean marine hull coverage—This insurance provides coverage for physical damage to the transporting vessel, including any of its operating equipment and machinery.
Ocean marine cargo coverage—This insurance provides coverage for the cargo being transported. Though all policies vary, many provide coverage for physical damage to the cargo, while others may also offer protection against other forms of loss and theft.
Ocean marine liability coverage—This insurance, which is commonly known as protection and indemnity (P&I) coverage, provides coverage for third-party liabilities during a vessel’s operations. This could include coverage for:
Injury, illness or loss of life caused by a vessel’s operation.
Medical expenses relating to any injury, illness or loss of life.
Damage to other vessels or property caused by collision.
Damage to other vessels or property caused by incidents other than collision.
Wreck cleanup and removal.
What Does Inland Marine Insurance Cover?
Inland marine insurance is a business insurance policy that helps cover financial losses if your company’s property or equipment is damaged or destroyed while in transit or stored away from your main business location.
Your inland marine policy may help cover damage to:
Electronic data and computer equipment that travels to various locations.
Unique or valuable property not covered by your commercial insurance policy.
Special tools used in day-to-day business operations when you work on-site.
Heavy equipment installed in a truck or van.
Property in the temporary care of your business.
This coverage may help pay to repair or replace company property excluded by coverage provided by a business owners policy (BOP). Contact your agent if you have a BOP and would like to customize your coverage by adding inland marine insurance.
Your inland marine insurance policies may not cover business vehicles, stationary property at your company’s primary location or damage due to floods or earthquakes. If you have concerns about earthquake and flood damage, talk with your agent about purchasing optional coverages for these specific perils.
Does Inland Marine Insurance Provide Liability Coverage?
Inland marine insurance typically includes coverage for third-party-owned property temporarily in your company’s possession.
Get Marine Insurance Today
If you need inland or ocean marine insurance—or both—we’re here to help. At G. Carbajal Insurance Agency, we provide a wide variety of business insurance policies, including marine insurance solutions. Contact us today to learn more about how to insure your company adequately.