Inland and Ocean Marine Insurance
Are you looking for Inland and Ocean Marine Insurance Markets?
To start, let’s break them both down into separate categories and then go through some client case studies. Inland and Ocean Marine Insurance can be confusing and complicated. Let us here at SIU help. Let’s break them down first and go from there.
Inland Marine – property coverage for property that is not set in one place: If it can be moved, whether it’s a crane or a diamond necklace, it’s likely to fall under Inland Marine. Construction and transportation account for the lion’s share of Inland premiums.
Ocean Marine – coverage primarily includes coverage for the cargo of the ship. What’s in the hull so to speak. The cargo or the freight revenue to be received by the ship’s owner; and legal liability for any negligence by the shipper or the carrier.
What Type of Insurance Does My Client Need?
No matter which types of coverage you are looking for Inland Marine, or Ocean Marine Insurance, consider that these are very specialized and you should work with and get quotes from folks who have the expertise in the “Marine” lines of coverage. Southern Insurance Underwriters has a team of specialists just for such occasions. We not only have access to Excess & Surplus markets, but several A-Rated Admitted carriers as well. Call or email your dedicated Marine Underwriter today for a quote!
When looking for clients that have and Inland or Ocean Marine Insurance need, you are looking for anyone who frequently ships products or equipment on land or by water. Think about the times you see larger big rigs with a dump truck on the back, or a crane . These are candidates for Inland Marine coverage. Construction companies usually have coverage for the work being done at a property that doesn’t move, but what about the materials shipped in during new construction or renovations?
For Ocean Marine, good candidates would be clients all the way from big cargo ships down to the guys who take people on fishing or scuba excursions. Obviously the higher density clients are going to be coastal. Just keep that in mind when asking your clients about their business needs.