What is Marine Insurance and Why Might I Need It?

Insurance

Marine insurance provides solutions for a variety of risks. Specific types of coverage under marine insurance include:

Inland marine – covers products, materials, and equipment when transported over land (commonly by truck) or while stored temporarily at a job site or warehouse.

If your business frequently ships products or equipment, especially high-value products or materials which are often excluded from basic property coverage, or a valuable tradeshow booth that is frequently shipped around the country and stored offsite by a vendor, you may want to consider purchasing inland marine insurance.

Hull insurance – offers protection for commercial-based ocean crafts for physical damages to the boat or vessel and its operating equipment from threats above and below the ocean surface.

Cargo insurance – can provide protection against risk of physical loss or damage from external cause to cargo that is conveyed or travelled as part of the shipment process, whether by rail, truck, sea, or air.

Marine liability – offers protection for injuries, illnesses, or even loss of life caused by vessel operation. Medical expenditures, damage to other vessels and cargo, collision incidents, and related expenses resulting from quarantine may also be covered.

To learn more about marine insurance and other business insurance coverage available through Enterprise Insurance Services* we invite you to contact us at 978-656-5594 or 877-671-2265.

*All insurance policies offered by Enterprise Insurance Services are placed through our partner, HUB International NE, LLC.

Insurance products are not a deposit, not guaranteed by Enterprise Bank, are not FDIC Insured, not Insured by any government agency, and may lose value.

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