Your clients’ valuables, cargo, equipment, or other movable assets require specialized protection. We will help you navigate the wholesale inland marine insurance and ocean marine insurance markets and tailor a risk management program that covers their special risks. Our team has expertise across many industries and business classes and we work with A-rated carriers that can write in all 50 states.

 

MGA with Binding Authority

Novatae acts as an MGA for several classes that require Inland Marine coverage. Below is a sample list. Contact us for complete details.

Industries served
Construction
  • Builder’s risk
  • Contractor’s equipment
  • Installation
  • Rigger’s liability
Communications
  • Data processing equipment
  • Electronic equipment
  • Medical equipment
  • Medical imaging equipment
  • Radio and TV towers and
    studios
  • Scientific instruments
  • Telecommunications
    equipment
Mobile Equipment
  • Agricultural
  • Logging
  • Mining
  • Miscellaneous schedules
  • Oil and gas (land based)
Retail
  • Equipment dealers
  • Fine arts dealers
  • Furrier's block
  • Jeweler’s block
Transportation
  • Annual transit
  • Courier
  • Motor truck cargo
  • Railroad rolling stock
  • Supporting location coverage
  • Warehousemen’s legal liability
Other
  • Exhibitions
  • Fine arts
  • Museums
  • Sales representative’s samples
  • Valuable papers

FAQs – Inland marine / ocean marine

What is inland marine insurance and ocean marine insurance?

Inland marine insurance and ocean marine insurance are a type of property insurance that provide protection for large quantities of goods that are being transported long distance. With inland marine insurance, goods are protected when transported on land, and with ocean marine insurance, they are protected when transported across water. Inland marine insurance and ocean marine insurance are highly specialized forms of commercial insurance that are usually not covered under business owners policies (BOP). Our team can help you determine your client’s special needs and navigate this complex market.

How are inland marine insurance and ocean marine insurance policies different?

Inland marine insurance policies protect goods that are being transported across land. Conversely, ocean marine insurance policies protect goods that are being transported across water. These are different from bailee coverage, which only covers property of others under the insured’s care. There is also cargo insurance, which only covers carriers like trucking or shipping companies. Depending on your client’s specific business model, they may need inland marine insurance, ocean marine insurance, or both. Our team can help you navigate this complex market and secure the right inland marine coverage and/or ocean marine coverage for your clients.

What businesses need an inland marine insurance policy and/or an ocean marine insurance policy?

Any business that transports goods or people either on land or over water should have an inland marine insurance policy and/or an ocean marine insurance policy. Even if a company outsources transport over water, the firm can benefit from the risk protection an ocean marine insurance policy provides. Some types of businesses that would benefit from an inland marine insurance policy and/or an ocean marine insurance policy include construction and contractors, landscapers, fine art manufacturers, shipping and warehousing, environmental firms, entertainment businesses, and obviously transportation/motor truck cargo companies and pickup and delivery companies. There is a lot to consider when determining the right insurance coverage for your client so let our insurance agents help you tailor a quality inland marine insurance and ocean marine insurance program.

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Fun Fact: As of 2020, there were more warehouse and shipping accidents per year than in construction, service and transportation and shipping combined.(1)