Which type of insurance is designed to protect tools and equipment while in transit?

Inland Marine Insurance is designed specifically to protect tools, equipment, and other movable property while they are in transit or in locations that are not fixed, such as job sites or storage facilities. This type of insurance covers a wide range of items, including construction equipment, tools, and even certain types of cargo, acknowledging that many businesses have important assets that are not always at a specific location.

Unlike General Liability Insurance, which protects against third-party claims for bodily injury or property damage, or Commercial Property Insurance, which covers fixed property at a business location, Inland Marine Insurance is tailored for items that are often transported or stored temporarily. Homeowners Insurance primarily provides coverage for personal property within a residence and is not intended for business-related equipment or tools while in transit. Thus, Inland Marine Insurance is the appropriate choice for protecting tools and equipment specifically during transportation.