The concept of marine insurances also originates with the insurance itself. Businesses realized that ocean marine insurance only covers for the losses of merchandises and goods when are being transported by water-bound vessels and that the goods still need to be protected financially after being offloaded until they reach their ultimate destination.

Thus, the process of "inland marine insurance" was initiated to protect the goods while they are temporarily stored in warehouses and are in transit on land. The main idea is to protect the shipment from all sorts of transportation perils and not just when over the ocean.

Inland marine insurance covers transportation losses for businesses in the supply chain sector and anyone in general who needs to transport the goods from one destination to another.

The inland marine insurance covers any property that is in transit which includes the following:

1. Shipments from manufacturer or supplier to the purchaser 
2. Consignments from warehouse to the retailers and sellers 
3. Assets that is on its route for exhibition or convention 
4. Specialized equipment of various industries such as medical equipment, oil & gas equipment, construction, etc.

Properties that are somehow involved in communication and transportation such as bridges, wharves, transmission lines and towers, are insured using inland marine insurance.

Movable Property and Equipment

All such equipment that is transferred from one location to another (except for licensed vehicles) lie in the category of moveable property. It covers for such losses regardless of the location at the time when damages were sustained. A commercial inland policy will be required for properties used in businesses that are located far from the premises since standard commercial policies offer only limited coverage in this regard.

Commercial Property Floater

This covers for the damages sustained by the equipment and other objects of importance to the business that are not present at one location. There are numerous commercial operations which offer mobile services in various locations. If you run such a business, then you may require commercial property floater insurance. The nature of such policies varies from one business to another.

Bailee's Coverage

Inland marine insurance also covers for the damages sustained by another person's objects in your possession. Anybody who has the temporary possession of someone else's property is called a bailee. Bailees may procure a policy to cover for losses in their possession to overcome the legal liabilities to the original owners if the property is harmed, missing or stolen.

Personal Inland Marine Insurance

This type of insurance provides protection to your personal belongings regardless of the fact that they are in transit or not. Your homeowner's policy can be expanded to include inland marine coverage to protect your investments in items such as silverware, jewelry, computers and peripherals, cameras etc. In order for these objects to qualify, they have to be portable and should have a high value.

Inland marine insurance is a great way to provide security to the property that lies outside the range of fixed location because it follows the insured belongings as they move to another location.