Coverage for miscellaneous types of property such as movable property, goods in domestic transit, and property use in transportation and communication is typically provided by

Coverage for miscellaneous types of property such as movable property, goods in domestic transit, and property use in transportation and communication is typically provided by

• A. Commercial property insurance
• B. Inland marine insurance
• C. Homeowners insurance
• D. Auto insurance

Answer: (B)

Inland marine insurance is designed to cover movable property and items that are in transit or used in transportation and communication. This type of coverage follows property as it moves away from a fixed location, such as goods being shipped domestically, portable equipment, or equipment used in networks and communications. That makes it the best fit for miscellaneous types of property that aren’t tied to a single building. By comparison, commercial property insurance primarily protects property at a fixed location (like a building and its contents), homeowners insurance covers a residence and its contents, and auto insurance covers vehicles. So for movable property, goods in transit, and property used in transportation and communication, inland marine insurance is the appropriate coverage.

Inland marine insurance is designed to cover movable property and items that are in transit or used in transportation and communication. This type of coverage follows property as it moves away from a fixed location, such as goods being shipped domestically, portable equipment, or equipment used in networks and communications. That makes it the best fit for miscellaneous types of property that aren’t tied to a single building. By comparison, commercial property insurance primarily protects property at a fixed location (like a building and its contents), homeowners insurance covers a residence and its contents, and auto insurance covers vehicles. So for movable property, goods in transit, and property used in transportation and communication, inland marine insurance is the appropriate coverage.