An Inland Marine policy (also referred to as a Personal Items or a Personal Valuables policy) is a separate policy covering certain items of value for certain amounts based on their appraised and/or purchased value, subject to a low or zero dollar deductible. This is often referred to as “scheduling” your property. People have these policies separate from their property insurance policies to avoid having to pay higher deductibles on a property claim and/or so they can insure valuable/special items/collections at guaranteed amounts. These policies traditionally cover these items as in-transit coverage as well, which means your items are protected with you on-the-go.
Types of Inland Marine policies include:
- Golf Equipment
- Sporting Equipment