The Difference Between Marine and Inland Insurance
Getting insured for your transit business is a wise decision because it can protect you in the event that you end up in a liability suit. Such cases can sometimes easily bankrupt a business, causing it to fail, and there are a lot of things that can go wrong in transporting goods. There are two types of transit insurance: marine cargo insurance and inland transit insurance.
The two kinds of insurance are very similar, and in some cases, they may even overlap. They both protect the companies involved from damages that occur during transportation. However, there are some significant differences that should not be overlooked. The most obvious difference is that marine insurance is by water, where inland is on land. For inland, air travel doesn’t count either. However, marine works of all kinds. However, some choose to go with the inland insurance because of the premium calculations, which are usually included in the cost of coverage for inland but not in mainland cargo insurance. There are also sometimes more risks covered under the inland insurance, which makes it another choice that many choices if they do not have to transport by air or sea.
There are a lot of things to know about getting the right insurance before you get out there, so make sure you are looking into the different types, including inland transit insurance but also others.