Many businesses can get away with having a Commercial Property Insurance Policy since they probably will not be taking their equipment off their property, but if you run a contracting business or even something like a mobile food truck it becomes more crucial for you to have something like an Inland Marine Insurance policy that can cover you while you are not on your own property!
Contractors are a particularly good example since they are usually traveling from different sites in order to complete their work. A lot of contractors carry expensive tools as well as transport heavy vehicles and machinery, without these expensive pieces of equipment and tools it would be impossible to do their job properly!
If you have property that is regularly off of your own premises, you will have to consider getting what is called a “floater”, or more simply called a “Contractor’s Equipment Policy”. Think of additional floaters as add-ons to your Inland Marine Insurance coverage, with floaters like Fine Arts Floater for works of art, Installation Floater to cover property that is being shipped to be installed, or a Jewelry Floater—a coverage to protect jewelry inventory (Who would’ve guessed?). Most do realize it is important to protect themselves and insure replacement of their property if damaged, so if you feel that way too it might be good to consider Inland Marine Insurance!