Do I need inland marine insurance if I have a BOP?

Complete Guide to Inland Marine vs. BOP Coverage

Why This Question Matters for Colorado and Utah Residents

Your business may rely on moving valuable equipment, inventory, or property between locations, often across unpredictable weather or high-theft corridors in Colorado and Utah. A standard BOP (Business Owner’s Policy) is a great foundation—but doesn’t typically follow your property off-premises or protect it in transit.

• Severe Regional Weather: Hail, flooding, and wind account for 68% of inland marine claims in Northern Colorado, averaging $28,000 per incident. BOPs rarely extend to these off-premises exposures.
• Growing Risk of Theft or Damage on the Move: Over 35% of businesses regularly transport high-value goods but only a third have true offsite protection. The rest risk costly, uncovered losses.
• Local Underinsurance Consequences: Twelve Colorado businesses closed within six months of a major hailstorm, unable to recover uninsured mobile equipment—something inland marine would address directly.

What Most People Get Wrong

A common misconception is that the “property” coverage in a BOP automatically covers goods or equipment wherever you use them—it usually does not. BOP property coverage is generally limited to the primary business address listed on your policy. Even ‘off premises’ extensions often cap low or only address minor exposures.

Another confusion: many people overlook that many jobsites, delivery routes, and storage facilities—especially in Colorado and Utah—face unique local weather risks that are excluded or undercovered by BOPs, leaving substantial financial gaps unless inland marine endorsements are added.

The Complete Picture

Inland marine insurance is designed as a mobile property safeguard—covering goods, tools, and equipment while in transit, at third-party sites, or temporarily stored off-premises. For Colorado and Utah businesses, it’s especially important given our volatile weather patterns and the high value of assets on the move. BOPs are vital for static property, but for business models where mobility and logistics matter, inland marine coverage closes the vulnerable gap. Choosing the right approach—often blending both policies with local-specific endorsements (hail, flood, bailee’s customer)—is crucial for resilience and true peace of mind.

Making the Right Decision for Colorado and Utah Residents

Question 1: Do I regularly move or store valuable property away from my main business location?

Consider your operations:

• Is equipment transported between job sites, clients, or vendor locations?
• Do you deliver goods to events or customers (e.g., florists, AV techs)?
• Is property ever stored in vehicles, rented spaces, or offsite warehouses?

If so, only inland marine insurance tracks and protects those assets wherever they go—your BOP likely will not.

Question 2: What weather and theft risks am I exposed to where I operate?

In Colorado and Utah, severe hail, wind, and flooding are realities—and theft from mobile sites is common. Ask yourself:

• Has my area experienced costly storms or equipment theft in recent years?
• Would a loss disrupt my business or cash flow?

Question 3: How would I recover if a major incident happened offsite?

If a $30,000 piece of equipment was stolen, damaged in a highway accident, or ruined by hail offsite, would my current coverage make me whole? Inland marine can mean the difference between rapid recovery (covered claim, rental replacement) and a potentially devastating out-of-pocket loss or business interruption.