Inland Marine Insurance protects against the loss or damage to different types of property in transit, including cannabis, computer equipment, buildings under construction, motor truck cargo, customer’s property in a business’ care and control, and other types of business property. Consider all the property that your business handles, stores, transports, or is contractually obligated to indemnify if held responsible for loss or damage. For instance, many businesses these days have technology that is extremely expensive, including satellites, point of sale systems, servers, machines, or security systems. Other businesses store massive amounts of data containing personal and private client information. A security breach or virus could cause your business to lose extremely valuable information that your business could not afford to replace if corrupted. Whether you business has real property or intellectual property, an Inland Marine policy can be customized to protect your business.
Inland Marine insurance policies are flexible, and used most often for cannabis transportation businesses with unique property insurance needs. These policies were created by the insurance industry to allow for a flexible and customizable contract to protect business property. Originally, marine insurance protected property while being shipped overseas, and transported through a supply chain of distributors. This type of policy is now essential for many companies that transport high-value product, and cannabis certainly falls into that category.