How are inland marine insurance premiums calculated?

Premiums are based on the value of the property, type of goods, distance and method of transportation, and loss history.

Inland marine premiums are calculated based on factors like the value of the insured items, frequency of transit, distance traveled, and the risks associated with the items’ use or storage.

An equipment rental company’s inland marine premiums are higher because of the frequent movement and high value of their items.

Review your inland marine policy regularly to adjust coverage limits or add endorsements as your business grows or changes.