John B Wright Blog

Retailers who have multiple locations around the country should always consider protecting their goods not only in store, but while they are in transit, as well. Standard insurance policies should cover your business premises, goods, equipment and furniture. However, they may not cover the transportation of your products between retail stores. New York marine insurance is designed for just this purpose.

While its name would suggest otherwise, New York marine insurance is designed to protect goods travelling not just by sea, but along roads and highways across the United States. This policy is known as New York inland marine insurance. The coverage should provide financial compensation for goods that are damaged or destroyed by any peril listed in the policy. It will also generally provide some form of auto insurance for the vehicles that transport your products such as trucks and vans. 

Every policy is unique, so you should always read your contract thoroughly to ensure you know the exact circumstances for which you will be covered. New York marine insurance makes smart financial sense, but it can be a complicated area. Your insurance advisor may offer advice particular to your industry, the nature of the products you sell and the number of stores and vehicles you currently have.