inland marine coverage
A group of property insurance coverages designed to insure exposures that
cannot be conveniently or reasonably confined to a fixed location or insured
at a standard rate under a standard form. Includes coverage for property in
transit over land, certain moveable property, property under construction, instrumentalities
of transportation and communication (such as bridges, roads, piers, and television
and radio towers), legal liability coverage for bailees, and computerized equipment.
Many inland marine coverage forms provide coverage without regard to the location
of the covered property; these are sometimes called "floater" policies. Inland
marine coverage forms are generally broader than property coverage forms due
to the relative freedom from rate and form regulation of inland marine insurance
as compared with property insurance.
See also: all risks coverage,
builders risk policy,
cargo insurance,
equipment floater,
fine arts coverage,
floater policy,
installation floater,
jewelers block insurance,
named perils coverage,
open perils,
property insurance,
tool and die floater,
transit coverage.
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CPI IX.B