Inland marine insurance is a term that may cause some confusion to those unfamiliar with it. People may wonder how “inland” relates to marine, and how inland marine insurance differs from marine insurance, if it does at all. Inland marine insurance did originate from marine insurance for specific business and insurance needs. Here are some things you need to know in order to determine if you need inland marine insurance.

What Is Inland Marine Insurance?

Although inland marine insurance evolved from marine insurance, the two differ. Marine insurance is for businesses that ship products over water, while inland marine insurance is for businesses that ship over land. Inland marine insurance is typically purchased by businesses that frequently ship products or equipment over trains or trucks.

What Does Inland Marine Insurance Protect?

Inland marine insurance offers protection for any property that can be transported. As time’s gone by, the definition of what inland marine insurance protects has been defined as covering more than just property that can be transported. It offers protection for: property in transit, property that can be transported, property that is in the process of being moved from one location to another but that is currently being held in one location, and more. It offers protection for property in any stage of transportation over land.

What Does Inland Marine Insurance Cover?

Inland marine insurance provides coverage for a number of things that could happen to one’s products, equipment, or in the process of transportation. Here are some frequent issues that inland marine insurance covers.

Cargo theft is a major concern for businesses, especially if they’re shipping out high-dollar products. High-dollar products are typically excluded from basic property coverage. Some of these products include: computers, medical equipment, construction equipment, photography equipment, art, and more. If these products are stolen in transit, that can result in a major loss of income. If a business is shipping out expensive things like those, they’re going to want protection against any cargo theft. Inland marine insurance covers this.

Collisions are another common cause for business losses who use inland marine transportation to ship their products and equipment. If a business uses trucks, trains, or cars to transport their products, all of those are always at risk for collision, because anything could happen which could cause them to crash. 

Weather can also create conditions that lead to loss of goods or damages. Fire, water, lightning, hail, other weather damage, and other natural conditions can lead to property damage or loss. 

If you have specific questions about any other conditions that inland marine insurance covers, talk to an insurance provider, and they’ll be happy to answer any questions.

Is Inland Marine Insurance For You?

If you have a business that frequently ships over land, you may consider inland marine insurance to protect and cover you. There are many problems that can arise during transportation, both on and off the road. It’s important to have insurance to protect you and help you with any damages or other losses that might occur to your products or equipment in the transportation process. 

Do You Need Inland Marine Insurance?

Here at Insurance Unlimited, we offer inland marine insurance and are happy to consult with you about the best policy for your needs. Insurance Unlimited also offers a range of other insurances, from home insurance, renters’ insurance, and auto insurance to business insurances like workers’ compensation, farm insurance, and more. For more information about inland marine insurance or for any other insurance questions, please contact us today. Insurance Unlimited is passionate about finding the right policy for you. 

“Another accident,” You think to yourself. “Just my luck.” 

If you’ve recently purchased a car or are a long-term owner of one, you might be wondering, “What can lead to an increase in auto insurance premiums?” This article will address this issue by providing 4 reasons why your auto insurance premiums might be higher. We’ll also provide information on how to decrease your premiums. 

4 Reasons Why Auto Insurance Premiums Might Increase

There are many reasons why you might have a higher auto insurance premium. We’ll share just 4 of those reasons. For information on why auto insurance is important, read this. 

1. You may have a higher auto insurance premium if you have a low credit score

A credit score matters in most areas of life. When it comes to your auto insurance premium, this is also the case. For example, if you have a low credit score, then you might have a higher premium. So, while you can get auto insurance with most insurance agencies, you might nevertheless have higher premiums than other people. The reason that you might have a higher premium due to your credit score is because insurance agencies have seen a link between low credit scores and higher claims. 

So, if you want a lower premium, you will need to increase your credit score.

2. You may have a higher auto insurance premium if you have had lots of prior accidents

The more auto accidents you’ve been involved in with your car or other cars, the higher your premium. That’s because most auto insurance agencies do not want to have to lose out on more money than they should. So, if you have been in more accidents, then you should also expect to pay a higher premium.

3. You may have a higher premium if you have lots of tickets

Like being involved in more accidents, the more tickets that you have, the more likely your premium will increase. A parking ticket will not necessarily increase your premium but a speeding ticket will. So will things like driving under the influence, driving without insurance, taking a one-way street, and other issues that result in tickets. 

4. You may have a higher premium based on your age

Teens and those in their early twenties tend to have higher premiums than those from other age groups. That’s because this age group tends to have less exposure to driving and are often beginning drivers. This is also true for more mature adults. For example, according to the National Highway Traffic Safety Administration, accidents amongst those who can legally drive are highest amongst those over 65 and those who are 16-25 years of age. 

Get Lower Auto Insurance Premiums With Insurance Unlimited of Bozeman

If you’re in the state of Montana, you can get lower auto insurance premiums with Insurance Unlimited of Bozeman.

Here are some discounts that we offer so that you can have lower premiums:

• Having a multi-policy discount: If you have different types of policies with us, then you may qualify for a lower premium. For example, having renters insurance plus auto insurance. 
• Paying premiums in full: when you pay the premium for a six month period or for a year, then you can qualify for a lower premium rate. 
• Having a monitoring app: when you download a monitoring app that keeps track of your driving patterns, we can also lower your auto insurance premium. When you meet with us, we’ll go over this.

For other possible discounts or if you have any questions, reach out to us at 406-641-7636. You can also contact us here. We look forward to hearing from you. 

It may be necessary to choose private insurance if your company doesn’t offer insurance benefits or during particular periods of your life. Ultimately, the ideal way to find the right insurance policy requires working with a licensed agent. When you work with our experts at Insurance Unlimited, we can provide you with guidance through the process of finding the right insurance policy.

Consider your Specific Needs

In order to find the right insurance plan, it will be important to consider your specific needs and the type of insurance that you require. Deciding between auto insurance and life insurance will help you to narrow down your options and learn where to start. It is important to consider these specific needs to help ensure you find the right insurance plan.

Work with a Licensed Agent

When you need to choose private insurance, it will be important to ensure that you work with a licensed insurance agent, like our team at Insurance Unlimited. Working with a licensed agent will enable you to find the right insurance policy that matches your budget and your coverage needs.

Learn About the Deductible

Your deductible will have a huge impact on your out of pocket expenses. It will be important to learn about the deductible expenses that you will be required to pay before your insurance coverage kicks in. The deductible is often a fixed amount that will need to be paid before your insurance coverage will begin paying for the related expenses.

Identify Coverage

When you decide on an insurance policy, you will need to pay attention to what the policy covers. If you need rental car coverage, you won’t want to settle for an insurance policy that only pays for liability expenses. Deciding what you need your policy to cover will help you to make a better decision.

Compare Plans

Comparing plans will help you learn about average expenses that you can expect with your insurance coverage. It will also enable you to spend time considering the pros and cons of each plan. This often helps to ensure you choose the ideal policy for your own needs.

Keep Copayments in Mind

Copayments are often necessary when it comes to your out of pocket expense considerations. Learn about what portion of the services you will be expected to pay for. This will help you to budget accordingly for your expenses.

Consider Premiums

The monthly premiums are often the largest consideration you will need to learn about when it comes to your insurance expenses. In general, the better your coverage is, the higher your premiums will be. You will have to weigh all of these expenses to identify the right insurance policy to meet your needs.

These are just a few things that you will need to keep in mind to make the best decision for your private insurance. Our team can help you to choose the right policy to meet all of your needs. For more information about how to choose the right insurance policy, contact us at Insurance Unlimited today!