Inland marine insurance covers products, material, and equipment when it’s transported over land (e.g., via truck or train), used in the field, or temporarily warehoused by a third party. Many businesses don’t realize their business owner’s policy doesn’t cover losses that occur off-site. In the oil and gas industry, billions of dollars’ worth of equipment operate in the field each day. This policy is designed to cover all your company’s equipment, whether it’s stolen from the yard, blown over in the field, or destroyed by a blowout. Equipment covered can include the following:
- Computers
- Construction/dirt work equipment
- Hot oilers
- Rigs
- Employee tools
- Reverse units
- Frac tanks
- Cementing and acidizing equipment
- Rental equipment
- Auto physical damage