WHY DOES AN INDEPENDENT ROUTE OWNER NEED INLAND MARINE COVERAGE

A general insurance policy covers the protection of the assets present at the location of your business. But if your business requires the movement of goods and equipment from one place to another, you might need an inland marine coverage. An inland marine insurance policy refers to a policy which helps protect items which are in transit. This policy covers items ranging from high-end digital cameras which are used in the photography business, snacks, meats, bread and other products for delivery, or the bulldozers used in the construction business. An independent route owner has a lot to benefit from an inland marine insurance policy. 

One great way to start a low upfront expenses business is to offer mobile services such as independent delivery route. The provision of mobile services is also an amazing way to grow an existing business even though it co9mes with its own unique risks. Independent delivery routes are great business opportunities that come with a lot of flexibility and profitability.  However, they are exposed to risks such as the damage of goods in accidents or the goods getting destroyed while in transit. The goods might also get stolen while in transit. A commercial property policy, as well as a commercial auto policy, might not provide adequate coverage for such incidence and thus an inland marine insurance coverage which offers protection for equipment and goods in transit becomes inevitable for independent route owners.

Also, commercial insurance policies often exclude items which are not on the premises of the company’s address. Also, a commercial auto insurance policy might exclude coverage for food and other products which are being transported in the insured delivery vehicles. Even when the policy covers the products being conveyed in the delivery vehicles, the limit of the policy might be less than the value of the products being conveyed. Inland marine insurance policy fills the gap created by the commercial insurance and commercial auto insurance. It ensures that independent route owners enjoy full and comprehensive coverages. You can always contact IDA to select the best policy that offers robust coverage for your independent delivery routes.