Inland marine is property insurance covering exposures that cannot be reasonably confined to a fixed location or insured under a standard policy. It applies to property in transit over land, certain moveable property, property under construction, instrumentalities of transportation and communication such as bridges, roads, piers or television/radio towers, legal liability coverage for bailees and computerized equipment. Many inland marine policies provide coverage without regard to the location of the property. These are sometimes called “floater” policies.
Ocean marine is property insurance covering the transportation of goods and/or merchandise by vessels crossing foreign and domestic waters, including any inland or aviation transit associated with the shipment. Ocean marine insurance also covers damage to vessels involved in shipments and legal liability arising in the course of shipment.
