This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property Form Inland Marine In Palm Beach
Category:
State:
Multi-State
County:
Palm Beach
Control #:
US-00123
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
An inland marine personal articles floater is used to insure valuable personal property that often requires broader coverage than that provided by an insured's homeowner insurance policy, due to the various exclusions and limitations on homeowners coverages.
Separate from your homeowner's or renter's policy, a personal articles policy gives you extra coverage for your more valuable items. With the ability to cover specific, or “scheduled” items, these policies often include things that are more easily lost, misplaced, or have a higher likelihood of being stolen.
Business Insurance Don't let the term “inland marine” confuse you. As opposed to “marine insurance,” which covers products when transported over water, inland marine insurance covers products, materials and equipment when transported over land—e.g., via truck or train—or while temporarily warehoused by a third party.
It's a flexible form of coverage commonly used to insure jewelry, fine art, musical instruments, camera equipment, and other personal possessions. It's an individualized coverage option that can be applied to one valuable item or an entire collection.
What is Personal Inland Marine Insurance? Personal inland marine insurance, also known as scheduled personal property, can provide coverage for your personal property that is typically limited under property coverage, such as items of high value or that are rare or unique.
Inland Marine on the other hand covers your personal property anywhere it is within the coverage territory. This is a crucial distinction for many businesses. It is important to note that neither of these covers a building or real property.
Anything that isn't permanently attached to your home or land is most likely considered personal property, even if it's not in your home.
Although there are no standard forms in inland marine insurance, most contracts follow a typical pattern. They are usually written on a named-peril basis covering such perils of transportation as collision, derailment, rising water, tornado, fire, lightning, and windstorm.
Inland marine policies are designed primarily to cover property in transit, moveable property, property particular to transportation and communication risks, and property in the possession of bailees.