Question: Why is certain property called inland marine?
Answer: The term “inland marine” was used in the past to distinguish it from ocean marine. Inland marine, or equipment, is simply “property that moves around.” In general, the SC Municipal Insurance and Risk Financing Fund building and contents coverage contract section insures property within 1,000 feet of the municipal building. Inland marine coverage covers property or equipment that moves throughout the municipality. Most inland marine items are valued at Actual Cash Value, or ACV, which considers depreciation when a claim is filed.
The municipality’s inland marine schedule should be reviewed and updated during the 2025 SC Municipal Insurance and Risk Financing Fund renewal.
For additional information on inland marine items, contact underwriting staff at navriskpolicy@masc.sc.