Kentucky Inland Marine Insurance

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Written by Candace Jenkins
Written by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for on a continuous basis and is here with the facts about all your insurance inquiries.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.


Kentucky has an approximate population of 4,454,189 people. Some of those are business owners who could use adequate protection. When you own property or equipment, inland marine insurance may be necessary.

To get quotes on coverage for an affordable price, an independent insurance agent can help. They have access to several markets, saving you time. Connect with a local expert for customized quotes today.

What Is Inland Marine Insurance?

Your Kentucky business property can be classified into two central policies. One will be for your standard equipment and property that usually stays in a location. The other is inland marine insurance that will cover heavy machinery and items in transit.

Inland marine insurance will replace or repair your business property when a covered loss occurs. This could be from heavy machinery to tools in transit. The items insured will depend on the policy and the carrier. 

What Does Inland Marine Insurance Cover?

Inland marine insurance can be used for various items. There are numerous forms of inland marine type policies for different businesses. Often referred to as special inland marine insurance. Some examples of these are as follows.

  • Bailee's insurance: Used for client property that is left in the care, custody, and control of your business. 
  • Builders risk insurance: Protects the property and materials used when building a structure. 
  • Installation insurance: Used when items are in transit up until they are installed. Also known as in-transit coverage.

 Risks that may be covered by inland marine insurance

  • Fire
  • Wind
  • Hail
  • Theft
  • Water damage

Some miscellaneous coverages that your policy may protect against

  • Mysterious disappearance: This pays for missing property when the cause of loss can't be discovered.
  • Accidental damage: This pays for the replacement or repair when an item is dropped. This can be in transit or when loading or unloading.

Items that you may want to insure under an inland marine policy

  • Contractors tools
  • Contractors equipment
  • Computer systems
  • Sales equipment
  • Heavy machinery

How Much Does Inland Marine Insurance Cost?

The price of inland marine insurance will vary. Your business insurance costs are all dependent on your personal data and outside elements. Take a look at what carriers use when determining price.

  • Value of item
  • Prior claims
  • Coverage limits
  • Risk mitigation measures
  • State claims records

In 2019, Kentucky had $4,661,744,000 in commercial claims paid. The reported incidents could affect your inland marine and other policy premiums as a whole. Carriers recoup their losses by accounting for the amount of risk in specific areas.

Does Inland Marine Insurance Cover Theft?

In order to secure your business property, theft and vandalism coverage is necessary. This will help protect your equipment and other items while in transit and out in the open. If your property gets stolen, it could result in lost income for a period. 

Your inland marine policy should have coverage for theft and vandalism. Mysterious disappearance may be an option as well. Exact coverages will depend on what the carrier offers.

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Personal Inland Marine Insurance

Personal inland marine insurance in Kentucky may alternatively be known as a personal articles floater. This policy will cover property of a higher value. Typically paid out at the appraised amount when a loss occurs. 

While your homeowners insurance will have coverage for your personal property, you may want a more robust policy. Inland marine will allow your personal items to be scheduled per item instead of a blanket value. A deductible will not apply to an inland marine policy in most cases.

Property that can be included on an inland marine policy

  • Furs
  • Guns
  • Artwork
  • Jewelry
  • Jewels
  • Golf clubs
  • Musical instruments

How to Find a Kentucky Independent Agent

If you're searching for inland marine insurance in Kentucky, a trusted adviser can help. The accuracy of your business coverage is crucial to avoid financial distress. If you're unsure how much insurance or the type of policies needed, contact a professional.

An independent insurance agent has access to multiple markets, giving you the right policy from the get-go. Since they compare coverage and pricing, you'll get the best deal in town. Connect with a local expert on in minutes. 

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