Inland Marine Insurance for South Carolina Contractors

Despite the name, inland marine insurance has nothing to do with water. It is a broad category of commercial coverage designed to help protect movable property, equipment in transit, and assets used away from a fixed business location. For contractors and trades businesses in Goose Creek and the Lowcountry, it is designed to help address the coverage gap that exists when tools and equipment leave the premises. Coverage terms, conditions, and exclusions vary by policy and carrier.

Standard commercial property policies are generally designed to cover business assets at a scheduled, fixed location. Coverage for tools, equipment, and materials at job sites, in transit, or at temporary locations may be limited or excluded. An inland marine policy is designed to help extend that protection to where your business actually operates. Coverage terms, conditions, and exclusions vary by policy and carrier.

Inland marine coverage is particularly relevant for contractors, electricians, plumbers, HVAC technicians, landscapers, surveyors, photographers, and other businesses that regularly transport valuable equipment or operate at multiple locations. Any business in Berkeley County or the greater Charleston area that relies on mobile equipment or tools as a core part of its operations should review its inland marine exposure.

A contractors equipment floater is a type of inland marine coverage designed to help protect owned and rented construction equipment, including excavators, skid steers, compressors, generators, , against theft and damage at job sites and in transit. It is particularly relevant for contractors operating throughout Berkeley County, Dorchester County, and the greater Charleston metro area. Coverage terms, conditions, and exclusions vary by policy and carrier.

Theft of tools from a vehicle is a common concern for trades businesses and contractors throughout the Lowcountry. Whether that theft is covered depends on your specific policy. Commercial auto policies generally cover the vehicle but not the contents, and commercial property policies may not extend to tools in a vehicle. An inland marine tools and equipment policy is designed to help address this specific exposure. Coverage terms, conditions, and exclusions vary by policy and carrier.

An installation floater is a type of inland marine coverage designed to help protect materials and equipment that have been purchased for a specific project but have not yet been permanently installed. This coverage gap exists between the time materials leave the supplier and the time they are incorporated into a completed structure. It is particularly relevant for mechanical, electrical, and specialty contractors working on projects throughout South Carolina. Coverage terms, conditions, and exclusions vary by policy and carrier.

Many rental agreements make your business financially responsible for damage to rented equipment during the rental period. Inland marine coverage can be structured to help address your exposure for covered damage to rented or leased equipment used at job sites. This is worth reviewing before signing equipment rental agreements in the Charleston area. Coverage terms, conditions, and exclusions vary by policy and carrier.

Inland marine premiums are generally based on the type and total value of the equipment being covered, the geographic area of operations, the nature of your business and how the equipment is used, and your claims history. We help contractors and trades businesses in Goose Creek and the Lowcountry inventory their equipment accurately so their coverage limit reflects their actual exposure and their premium is calculated correctly.