Nationwide marine definition
The property must include an element of transportation to be eligible for marine coverage
The definition lists six categories of eligible marine risks
Commercial inland marine conditions form
Inland marine coverage forms:
Will provide broad coverage on property moved off the insured premises to other locations, they will tend to have similar characteristics.
Categories of Marine Risks
Imports
Covered by ocean marine insurance
Exports
Covered by ocean marine insurance
Domestic shipments
Covered by commercial inland marine insurance
Instrumentalities of transportation or communication
Covered by commercial inland marine insurance
Personal property floaters
Covered by personal inland marine insurance
Commercial property floaters
Covered by commercial inland marine insurance
Types of Commercial Floaters
Accounts receivable
Coverage for businesses unable to collect outstanding customer balances due to damage of the records. May be written as stated limit or reporting form policy
Bailee’s customer
A business who has temporary possession of the property that belongs to another. Covers direct damage without regard to legal liability for goods temporarily in care, custody, and control of insured. Examples: dry cleaners, tailors, television repair
Commercial articles
Covers interests of the owner of commercial cameras, musical instruments, and related equipment
Contractor’s equipment floater
Covers contractors’ small and large tools, machinery, and equipment (mobile property)
Electronic data processing
Covers electronic equipment, including data and media
Equipment dealers
Coverage for dealers of mobile equipment and construction equipment (primarily agricultural)
Installation Floater
Commercial Property
Equipment Breakdown
Jewelers block
Written for jewelers to specifically cover certain items
Property covered includes:
Property held for sale
Property in transit by common carrier
Property on exhibit
Property in the custody of outside salesmen
Customer’s jewelry in the insured’s CCC
Signs
Covers loss to neon, fluorescent, automatic, or mechanical electric signs and lights.
Covers insured’s signs and similar property of others in the care, custody, or control of the insured
Valuable papers and records
Covers loss to specific valuable papers and records
Examples include maps, blueprints, films, illustrations, and drawings
Motor Truck Cargo
For truckers hauling OTHER people’s goods
Transit Coverage
For a business hauling their OWN goods
