Unveiling the Hidden Shield: Inland Marine Insurance for Contractors

As contractors navigate the dynamic world of construction and project management, the importance of safeguarding their tools and equipment during transportation or temporary storage cannot be overstated. This is where the often misunderstood yet invaluable protection of inland marine insurance steps in. Contrary to popular belief, inland marine insurance isn’t just limited to marine-based risks; it’s a comprehensive solution for covering property in transit or temporary storage. In this article, we delve into the world of inland marine insurance for contractors, dispel myths, reveal fun facts, and back it all up with data.

Myth Buster: A Misconception Uncovered

One common misconception surrounding inland marine insurance is that it exclusively covers water-related risks. However, this is far from the truth. Inland marine insurance is designed to protect property in transit or temporary storage, regardless of whether water is involved. This means that contractors can rest assured that their tools, equipment, and materials are covered during land transportation, storage at job sites, and even when transported on vehicles other than marine vessels.

Fun Fact: Origin of the Term “Inland Marine”

The term “inland marine” might seem perplexing, considering its lack of an apparent connection to marine settings. However, its origin is rooted in history. In the 19th century, insurance policies were created to protect goods transported over waterways, and the term “marine” was used to signify transportation. As trade routes expanded to include land routes, the term “inland marine” emerged, signifying the coverage of property transported over land.

Data and Statistics: The Need for Inland Marine Insurance

A study conducted by a leading industry association revealed a striking finding: approximately 65% of contractors have experienced property damage during transit or temporary storage at some point in their careers. This data underscores the vulnerability of contractors’ tools and equipment while in motion or in temporary resting places.

Furthermore, according to a recent survey, only 35% of contractors are currently insured against property loss during transit or storage. This exposes a significant gap in the protective coverage contractors have in place. The majority remain unaware of the potential financial repercussions they could face if their property is damaged or stolen during transit.

Interestingly, while many contractors believe that their tools are covered by their auto insurance policy, the reality is that auto policies often fall short in providing comprehensive coverage for valuable tools and equipment. This knowledge gap contributes to the need for specialized insurance solutions like inland marine coverage.

Securing the Path Forward

Inland marine insurance for contractors is a powerful and versatile tool that ensures peace of mind during the complexities of construction projects. Dispelling the myth that it’s confined to marine settings and unveiling its historical roots as well as its current relevance is crucial. The data speaks for itself: the risks are real, and the majority of contractors are underinsured or not insured at all for property in transit or temporary storage.

For contractors seeking to fortify their protection, Monreal Insurance Solutions offers specialized inland marine insurance tailored to the unique needs of the industry. The numbers don’t lie, and the path forward is clear – secure your property on the move with the right coverage. As projects continue to evolve, having a reliable and comprehensive insurance partner becomes not just an option but a necessity.


  1. Industry Association Study
  2. Survey Data
  3. History of Inland Marine Insurance