Inland marine & contractors equipment insurance in Washington

What inland marine insurance covers in Washington

Inland marine insurance covers business property that standard commercial property policies exclude: tools, equipment, materials in transit, contractor equipment, fine art, scientific instruments, and other movable or specialized property. If your business depends on property that leaves your location regularly, or property that isn't permanently installed in a building, you likely need inland marine.

• Contractor tools and equipment. hand tools, power tools, and heavy equipment on job sites or in transit between jobs
• Installation floaters. air conditioners, water heaters, and other equipment awaiting installation at customer locations
• Business property in transit. merchandise, materials, or equipment being shipped to customer locations or between your facilities
• Equipment at temporary locations. tools and machinery at rental sites, client facilities, or outdoor work sites
• Scheduled coverage. named individual items (a specific excavator or generator) insured for an agreed value on an scheduled basis
• Blanket coverage. all similar equipment up to a limit, without listing each item individually

Why standard property policies don't cover inland marine risks

Standard commercial property policies cover buildings and fixed property at described locations. They exclude (or sharply limit) property that's in transit, property at temporary locations, property being used off-premises, and specialized movable property. If your painter leaves his power tools on a client's porch overnight and they're stolen, or if your contractor's equipment is damaged in transit to a job site, a standard property policy won't pay. Inland marine fills these gaps.

Washington industries that rely on inland marine

• Construction trades: framing, electrical, plumbing, HVAC, and specialty contractors
• Painting, drywall, and finish contractors
• Heavy equipment operators and equipment rental companies
• HVAC and appliance installation businesses
• Roofing contractors and gutter specialists
• Utility and telecommunications contractors
• Landscaping and tree-service companies (equipment and tools in transit)
• Technology and equipment installation firms

Scheduled vs. blanket inland marine policies

Scheduled policies list specific items (a particular excavator, a named generator) with an agreed replacement value for each. If the excavator is damaged or stolen, you're paid the agreed value without depreciation. Scheduled coverage works well if you have a few high-value items or if you want certainty about what you'll recover. Premium is usually lower per dollar of coverage.

Blanket policies cover all similar equipment up to a limit without listing each item. All HVAC equipment, all hand tools, or all installation materials are covered. Blanket coverage is faster to bind (no item-by-item listing) and works well if equipment changes frequently. Premium is typically higher, but administration is simpler.

What inland marine insurance costs in Washington

Premiums vary widely based on the type and value of equipment, your industry, and loss history. A blanket coverage for $50,000 of contractor tools might cost $300 to $800 per year. A scheduled policy for a few high-value pieces might cost 2 percent to 5 percent of the insured value annually. Deductibles typically range from $500 to $2,500.

Why buy inland marine through Maru

Inland marine is a specialized market. Not all property carriers write it, and not all write it for your specific trade. Maru works with carriers who understand Washington construction and trades, can bind scheduled or blanket coverage quickly, and understand which equipment and property exposures your business actually faces. We'll help you decide between scheduled and blanket coverage, set the right limits, and coordinate this with your general liability and builders risk policies.

Frequently asked questions

Vadim — Maru Insurance
Licensed independent insurance agent · WA & FL
Written and reviewed by a licensed Maru advisor. Maru Insurance is an independent agency (WA License WAOIC #1365574, FL License #G363233) representing multiple A-rated carriers across Washington and Florida.