What is inland marine insurance?

A plain-English definition for wholesale insurance producers, and for the retail producers they work with.

The short answer

Inland marine insurance covers property that moves or is hard to insure at a single fixed location, such as goods in transit over land, contractors' equipment and tools, and buildings under construction. It also covers property held by bailees and transportation and communication infrastructure like bridges and towers. Despite the name, it is mostly about land-based property.

How it works.

Many inland marine policies are floaters that follow the property wherever it goes, and inland marine forms are generally broader than standard property forms in the causes of loss and locations they cover. Two forms matter most in construction:

Contractors' equipment. An equipment floater covers equipment that moves from place to place, such as machinery and tools taken from job site to job site.
Builders risk. A builders risk policy covers buildings and materials while under construction, typically on an all-risks basis, including property in storage or in transit. Limits are usually set by the project's estimated completed value.

Why it matters to wholesale producers.

Construction drives a large share of inland marine demand, and contractors' equipment and builders risk often need specialty markets. Retail producers with a construction practice place these every week, which makes them a natural audience for a wholesaler with inland marine appetite.

For retail producers: contractor clients often need equipment and builders risk coverage that a standard commercial property policy does not fit.

On ProducerSpark.

Find retail producers who write inland marine for contractors

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Sources (opened October 23, 2026): NAIC: Glossary of insurance terms; IRMI: inland marine coverage; IRMI: equipment floater; IRMI: builders risk policy. General information, not legal or tax advice. Requirements vary by state.

Questions.

Why is it called inland marine?

It grew out of ocean marine insurance, which covered cargo at sea, and was extended to property moving over land.

Is builders risk an inland marine coverage?

Usually yes. There is no single standard form, and most builders risk policies are written on inland marine forms.

What does contractors' equipment coverage protect?

Equipment and tools that move between locations, such as from job site to job site, typically under an equipment floater.