Ocean Marine cover, perhaps the world’s oldest type of insurance, does include indemnity for losses that occur primarily on international voyages, but also can cover any losses suffered while goods are a mile offshore. Ocean Marine overage primarily includes coverage for the vessel or hull of a ship; the cargo; the freight revenue to be received by the ship’s owner; and legal liability for any negligence by the shipper or the carrier.
Inland Marine, meanwhile, includes far more types of cover than one might expect. These include but are not limited to builders’ risk, fine arts, guns, museums, all goods that move on land, motor truck cargo, contractors’ equipment, musical instruments, mobile medical equipment, exhibitions and the like. It’s helpful to think of Inland Marine risks as property cover for property that is not fixed in one place: If it can be moved, whether it’s a crane or a diamond necklace, it’s likely to fall under the classification of Inland Marine.