Generally, a commercial property insurance policy is intended to insure a company’s building and its contents, usually within a specified distance from the premises described on the policy. Classified as “business personal property” on a property insurance policy, those contents may become uninsured if you move them from the location specified in your insurance contract.
Even if the move is temporary—for a trade show or other event, for example—you want to make sure you have coverage for those materials off-site. A product called inland marine insurance will protect your business against the damage or total loss of those items when they are not at your company’s primary site. This coverage is becoming increasingly more important as many companies provide business property to remote workers.
If you have high-value items, such as expensive computer equipment or tools, then you may need to add a scheduled list of items to this inland marine policy, as well as an unscheduled amount of insurance for smaller items. Doing a thorough inventory of what business property is being transported or used off-site can help your company avoid hefty losses.
