Inland marine insurance is a type of insurance which covers the goods in transit and includes building under construction, property being transported, communication towers, valuable papers, fine artwork, computer data and accounts receivable. It is especially beneficial for people who work with high value items or who are responsible for valuable tools, equipments and data.

There is a wide range of the types of coverages that are called as inland marine insurance such as

1. Goods in transit: The transit insurance policy covers the goods in transit. The goods are valued appropriately and provide complete coverage to the policyholders. Based on the risk exposure, transit policy can be made on annual basis or per trip basis.
2. Inland marine insurance covers goods and property that are associated with the job of the individual. For example if the tools and equipment of contractor is damaged or destroyed, he will receive the actual cash value settlement for the loss.
3. Inland marine insurance can also be used to cover computer software and data. In case the data from the computer is damaged, computer software insurance pays for the cost that in incurred in reproducing the data.
4. In fine arts insurance, if the property is damaged or destroyed, the policy pays the agreed amount of coverage to the owner.
5. Building under construction: Builders risk policy insures the building during the course of its construction. In case the building is damaged or destroyed within this period, the insurance policy will pay the cost to replace it. Inland marine insurance can also protect contractor’s tools and equipment.
Inland marine insurance is an expanded form of ocean marine insurance and covers goods in transit, storage and property on land. The types of coverages under inland marine insurance have grown over the years and this insurance is beneficial for a wide range of people.