Quick Answer
Inland marine insurance covers tools, equipment, and property that moves between jobsites, gets loaned to customers, or travels in transit, things a standard commercial property policy will not pay for at a fixed address. A contractor equipment floater on $25,000 to $100,000 in tools typically runs $400 to $2,000 a year in South Carolina, and single-truck motor cargo coverage usually runs $1,200 to $3,000 a year. The Morgano Agency writes inland marine schedules across multiple carriers so the deductible and limits match how the equipment actually gets used.
What Inland Marine Insurance Covers in Greenville, SC
Inland marine insurance is a specialty property policy that covers high-value movable business property: contractor tools and equipment, computers and electronics, customer property in your care, property in transit on land, fine art, scheduled valuables, and installation materials. Despite the “marine” name, inland marine has nothing to do with boats; the name is a holdover from the 19th-century origin when these policies covered shipments by canal and river barge. Today, inland marine fills the gaps in a standard commercial property policy, which usually only covers property at a fixed business location.
Most policies use a scheduled-item or blanket form. Scheduled items are listed individually with their own limits (a $25,000 trencher, a $5,000 server). Blanket limits cover the whole category up to a single policy limit. Limits commonly range from $5,000 to $1,000,000 per item with deductibles of $250 to $5,000 depending on item value.
Contractor Equipment and Tools Coverage
The most common inland marine policy we write for Greenville contractors is a contractor equipment floater, sometimes called a tools and equipment floater. It covers tools, machinery, scaffolding, generators, and other gear while at the job site, in transit between sites, or stored temporarily. The floater follows the tools wherever they go. Without it, a stolen toolbox or a destroyed welder on a job site is often not covered by general liability or commercial property.
Motor Truck Cargo Coverage for SC Truckers
Motor truck cargo coverage is an inland marine policy that covers goods being hauled by a for-hire trucker or a business that operates delivery vehicles. The federally required cargo limit under FMCSA rules is usually $5,000 to $10,000 per shipment for most carriers, but contracts with shippers, brokers, and 3PLs frequently demand $100,000 or more per shipment. Greenville-area trucking operations and last-mile delivery businesses generally carry cargo coverage as a separate line under their inland marine schedule.
Installation Floater for Contractors and Installers
An installation floater covers materials and equipment being installed by a contractor until the project is accepted by the owner. HVAC, electrical, plumbing, solar, and millwork contractors all use installation floaters to cover the gap between when materials leave the supplier and when the customer formally accepts the installed work. Without it, a stolen rooftop unit or a damaged solar array on the day of install can fall outside both builders risk and general liability.
Bailee Coverage, EDP, and Fine Arts Floaters
Several other inland marine forms exist for specific business types.
- Bailee’s coverage covers customer property in your care, custody, or control. Dry cleaners, repair shops, storage facilities, and watchmakers carry bailee coverage so when a customer’s property is damaged or stolen while in their possession, the business has a policy to respond.
- Electronic data processing (EDP) covers computers, servers, software, and data against perils that a commercial property policy may exclude or sublimit, including power surges and certain accidental losses.
- Fine arts floater covers art, antiques, and museum pieces against an all-risk form with agreed value rather than depreciated value.
- Jewelers block covers jewelry inventory in retail and in transit; jewelers carry it as a stand-alone policy that bundles property, fidelity, and transit coverage.
How Much Inland Marine Insurance Costs
Premiums vary widely with the schedule. A small Greenville contractor with $25,000 to $100,000 in tools and equipment typically pays $400 to $2,000 per year for a contractor equipment floater. Motor truck cargo for a single-truck operation usually runs $1,200 to $3,000 a year depending on the cargo class and limit. EDP coverage for a small office is often a few hundred dollars a year. Bailee coverage prices on the average property value held and the volume of customer property in transit.
Inland Marine vs Commercial Property
Commercial property insurance covers buildings, contents, and business personal property at a fixed location listed on the policy. Inland marine covers movable property that travels, gets loaned out, or has higher value than the commercial property form is built to handle. The two policies routinely live together: a Greenville contractor carries commercial property on the office and warehouse, plus inland marine on the tools and equipment that leave the warehouse every morning. A retailer carries commercial property on the store inventory, plus inland marine bailee on customer goods being repaired.
Common Inland Marine Coverage Forms
Inland marine is a category, not a single policy. Each business type uses a specific form that fits how its property moves and who handles it.
| Coverage | What It Covers | When It Matters |
|---|---|---|
| Contractor Equipment Floater | Tools, machinery, generators, scaffolding while on the job, in transit, or in temporary storage | Every Greenville contractor with $10,000+ in tools should carry this |
| Installation Floater | Materials and equipment being installed until the owner accepts the work | HVAC, electrical, plumbing, solar, millwork install jobs |
| Motor Truck Cargo | Goods hauled by for-hire trucks or delivery vehicles | Trucking companies, delivery businesses, e-commerce fulfillment |
| Bailee’s Coverage | Customer property in your care, custody, or control | Dry cleaners, repair shops, storage facilities |
| Electronic Data Processing (EDP) | Computers, servers, software, and data against surge and accidental loss | Offices, IT services, professional firms |
| Fine Arts Floater | Art, antiques, museum pieces, on an agreed-value basis | Galleries, collectors, scheduled valuables |
| Jewelers Block | Jewelry inventory in retail and in transit | Jewelers, watchmakers, repair shops |
Source: Insurance Information Institute. Inland marine forms vary widely by carrier; we walk you through the specific schedule and exclusions before binding.
What Affects Inland Marine Premium in Greenville
Six factors move inland marine pricing. The biggest one is the total scheduled value, but transit exposure and storage security can swing the premium 30 percent or more for the same total value.
Frequently Asked Questions
How much is inland marine insurance in South Carolina?
A typical Greenville contractor with $25,000 to $100,000 in tools and equipment pays $400 to $2,000 per year for a contractor equipment floater. Motor truck cargo coverage for a single-truck operation usually runs $1,200 to $3,000 per year. EDP and bailee policies price on the specific schedule. The Morgano Agency compares inland marine quotes across Travelers, Liberty Mutual, The Hartford, Auto-Owners, Nationwide, and other carriers to find the best fit.
Do I need inland marine if I have commercial property insurance?
In most cases yes. Commercial property insurance covers business personal property at a fixed location listed on the policy. The moment tools, computers, or equipment leave that location, commercial property usually does not respond. Inland marine fills the gap for movable property, customer property, and property in transit. A Greenville contractor typically carries both: commercial property on the office and warehouse, plus inland marine on tools and installed materials.
What does inland marine insurance cover?
Inland marine covers high-value movable business property: contractor tools and equipment, computers and servers, customer property in your care, property in transit on land, fine art, scheduled valuables, and installation materials. It also covers specialized exposures like motor truck cargo, jewelers block, and bailee coverage. Coverage is broad (all-risk on most forms) but every form has its own exclusions, so we walk you through the schedule before binding.
Is inland marine the same as cargo insurance?
Motor truck cargo is one type of inland marine policy. Inland marine is the broader category that also includes contractor equipment floaters, installation floaters, bailee coverage, EDP, fine arts, and other forms. So all motor truck cargo policies are inland marine, but not all inland marine policies are cargo policies.
Does inland marine cover tools stolen from my truck?
Yes, a contractor equipment floater covers tools and equipment stolen from a job site, a vehicle, or temporary storage. The policy follows the tools wherever they go. Most carriers require a list of scheduled items above a certain value ($1,000 to $2,500 per item is typical) and a blanket limit for smaller hand tools. We help build the schedule during the quote.
How is inland marine different from builders risk?
Builders risk covers the building under construction itself, including installed materials. Inland marine covers movable property: the contractor’s tools used to build it, the materials being installed before they become part of the building, the customer’s belongings sitting in a repair shop. The two policies routinely live together on a construction project.
Can I add inland marine to my Business Owners Policy (BOP)?
Some BOPs include limited inland marine coverage, often a small blanket limit for accounts receivable, valuable papers, and contractor tools. For meaningful tool and equipment limits, dedicated cargo, or specialty exposures like bailee or jewelers block, you usually need a separate inland marine policy in addition to the BOP. The Morgano Agency can quote both together so the package is sized right for the business.
Get a Quote from The Morgano Agency
Call (864) 609-5285 or request a quote online. Independent agency, multiple insurance carriers, Greenville-based.
Related coverage: see our Business Insurance overview, General Liability, Commercial Auto, or Builders Risk Insurance.
The Morgano Agency Inc
206B Pine Knoll Dr, Greenville, SC 29609
(864) 609-5285
Monday through Friday, 9:00 AM to 5:00 PM