Inland marine: scheduled vs blanket coverage

• Mobile property: tools, equipment, cameras, electronics, and machinery that travel.
• Job-site exposure: property at temporary locations or in transit.
• Special valuation needs: items where depreciation or sublimits create unacceptable gaps.

Inland marine isn’t about geography—it’s about mobility, use, and exposure.

• Scheduled coverage: items are individually listed with specific values.
• Blanket coverage: groups of items are covered under a shared limit.

Both structures are valid. Problems arise when the structure doesn’t match how the equipment is actually used.

The right structure depends on whether your risk is item-specific or portfolio-wide.

• Item-by-item limits: Each scheduled piece is insured up to its listed value.
  If a $45,000 excavator is scheduled at $45,000, that is the maximum available for that item.
• Clear valuation: Ideal for high-value, identifiable assets with stable inventories.
• Cleaner claims: Less debate about what was covered and for how much.

Best fit for scheduled coverage

• Heavy equipment and large machinery
• High-value cameras or specialty tools
• Assets with serial numbers and stable ownership

Scheduled coverage trades flexibility for certainty.

• Shared limits: Multiple items draw from one overall limit.
  Losses are paid up to the blanket limit, subject to any per-item caps in the policy.
• Operational flexibility: Items can be added, removed, or swapped without constant policy updates.
• Inventory efficiency: Reduces administrative burden for businesses with frequently changing gear.

Best fit for blanket coverage

• Tool fleets with frequent turnover
• Contractors with many mid-value items
• Businesses where loss scenarios affect multiple items at once

Blanket coverage trades precision for flexibility—if the limits are built correctly.

• Unstated assumptions: Blanket coverage does not automatically mean “unlimited per item.”
  Many policies impose sublimits like $10,000 or $25,000 per item unless scheduled.
• Loss concentration: Theft from a trailer or job site often involves multiple items at once.
• Surprise outcomes: A $60,000 loss can become a $25,000 payment if caps weren’t addressed.

Blanket limits don’t help if individual items are capped below their real value.

• Schedule the outliers: Individually list high-value items that exceed common per-item caps.
• Blanket the rest: Use blanket limits for the bulk of tools and mid-range equipment.
• Model worst-case losses: Theft, fire, or rollover scenarios often involve multiple items at once.
• Confirm valuation: Replacement cost vs ACV matters more for equipment than many owners realize.

Good inland marine design is about loss scenarios, not just totals.

• What is the per-item cap? Is it stated in the form or endorsement?
• What loss scenarios were assumed? Single-item loss vs multi-item theft.
• How often does inventory change? Weekly turnover favors blanket structures.
• What documentation is required? Receipts, serial numbers, or inventories.
• How are new items treated? Automatic coverage vs endorsement required.

The best inland marine policies are boring—because nothing unexpected happens after the loss.

Is blanket coverage cheaper than scheduled?
Sometimes, but not always. Blanket policies can be cost-effective for large inventories, but pricing depends on limits, per-item caps, and loss history.

Can I convert from blanket to scheduled later?
Yes. As equipment values grow or inventories stabilize, scheduling high-value items is common.

Does inland marine cover rented or borrowed equipment?
Not automatically. Coverage depends on policy wording and may require specific endorsements.