Inland Marine / Equipment Insurance
Inland Marine Coverage; aka: Equipment Insurance from the top Global Insurance Companies in the World.
THINGS TO KEEP IN MIND
We would like to share with you some of things to keep in mind regarding Inland Marine insurnce for Forest, Timber and Logging Operations.
- Underwriting / Risk Evaluation is a requirement and there are operations such as yours, that may not be the same for all individuals or business. Therefore, we gather information from you to present to the underwriting teams for a quote.
- Well Established Operators with a history of verifible “history” of three years or more,
- Claims history – having a clean and verified insurance history,
- New ventures with little or no insurance history,
- Claims history with multiple claims,
- Operations that involve more that timber and logging, (such as excavation)
- Type of equipment
- Valuation of the equipment to be insured
- Location of where the equipment will be stored and the type of security, if any.
What’s next?
We need an application completed with precise information such as:
- Year, Make, Model and Serial Number,
- “Current ACV value.” Market Value less depreciation,
- Currently dated, within the last 30 days, a claims history report,
- Time – Time for a quote is at a minimum 3-5 Business days,
- When the quote comes in to our agency we will call you to provide the annual price ,
- If the quote is acceptable to you, we will prepare all documents to present for your review,
- All premiums, taxes, fees, terms & conditions will be included,
- If acceptable to you and you want to proceed, deposit information and applicaitons will be sent,
- If premium financing in needed, we will arrange the premium financing for you,
- Once underwriting approves the bind request a written binder confirmation will be provided,
- There is no coverage bound until we receive written notificate of the policy being bound,
- Certificate will be issued generally within 24 hours of binder confirmation.
Other Timber insurance
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