Inland Marine Policy Feature Checklist
What to confirm in a inland marine policy — what's standard, what's often limited, and what to add if needed — plus the gap most often missed.
Pull out your current inland marine policy and check the box next to each feature you can confirm it includes — anything unchecked is worth a quick conversation with your advisor.
Tick each feature you can confirm your policy includes — anything left unticked is a good question for your next policy review.
| Confirm? | Policy feature | What to confirm | Priority |
|---|---|---|---|
| Scheduled Equipment at Replacement Cost | Confirm every major item is listed at today's replacement cost, not depreciated value. | Standard | |
| Unscheduled Tools & Small Equipment | Covers tools not listed individually — often has a low per-item limit. | Often limited | |
| Equipment Rented from Others | Covers borrowed or rented equipment you're responsible for under the rental agreement. | Often limited | |
| Theft Without Visible Signs of Forced Entry | Some forms exclude theft unless there's evidence of forced entry, or from unattended vehicles. | Often limited | |
| Newly Acquired Equipment | Covers new purchases automatically for a set number of days. | Often limited | |
| Installation Floater | Covers materials until installed and accepted by the owner. | If needed | |
| Rental Reimbursement | Pays to rent a replacement while stolen or damaged equipment is replaced. | If needed |
The gap most often missed in this coverage
The most commonly missed gap in this coverage is an out-of-date equipment schedule. Machines bought since the last renewal may be covered only briefly or not at all, and older schedules often list values far below today's replacement cost — while fewer than one in four stolen machines is ever recovered. Contractors should update the schedule at every purchase and confirm how theft and rented equipment are covered.
Send us the checklist and we'll review your inland marine coverage line by line, then market it across multiple carriers that compete for your account.
Related: Inland Marine Insurance · Inland Marine Supplemental (apply) · All coverage checklists
Frequently asked questions
What should a inland marine policy include?
Standard features to confirm in a inland marine policy include Scheduled Equipment at Replacement Cost. This checklist also flags the features that are often limited or sublimited and the ones to add if needed, with a plain-English note on each.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my inland marine coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.