What is inland marine and why is that term so confusing?

What is inland marine and why is that term so confusing?    A Gordon Tower Insurance client called the office today wondering what the “inland marine” portion on her homeowners insurance policy renewal was all about? They are boat friends of ours and she knew that we had their boat on a separate boat insurance policy with us. Don’t let the term “inland marine” confuse you. It really has nothing to do with insuring your boat. 

“Inland marine” is just another one of those old archaic insurance terms that never got updated from the 1700’s! lol! As opposed to “marine insurance,” which does cover products when transported over water by commercial clients. Still nothing to do with your boat!  By super old-fashioned definition, the term “inland marine” means insurance that covers your products, materials and equipment when transported over land, like via truck or train, and it also covers products that are temporarily warehoused by a third party. What?? You say? Still confused? I’m not surprised!
Why was it ever called "inland marine" insurance then? It is called inland marine insurance because it's an offshoot or extension of ocean marine insurance, which protects property transported over water. “Marine insurance “came first, probably in the 1700s, then the distinction "inland" marine was created to describe products being transported by land. Yes, very antiquated and quite confusing. 

What is even funnier is that one of our insurance carriers, Grange, uses the term “inland marine” to describe scheduled items or personal property, like jewelry, art, collectibles, golfers’ equipment, musical instruments and other valuables. Hence the phone call from our Gordon Tower Insurance client who was understandably confused over the strange terminology on her home policy. It was referring to her itemized jewelry we had covered on her home policy. 

Another insurance carrier we represent, Auto Owners, doesn’t call these items “inland Marine” they call these “personal articles” and that is where their scheduled items like jewelry are listed on our client’s policies. (Slightly less confusing) Another carrier we represent, Safeco, puts these items under “Personal Property”.  They don’t call this “inland marine” either. (Again, slightly less confusing)

However, what IS more confusing and somewhat ridiculous, especially to my millennial aged children, are really old-fashioned terms that you see on policies regularly like the following: Under “Personal Property “they cover antiquated items like “rare coins”. Like from sunken pirate ships? Who has these things today? “Theft of silverware” – really? You got to be kidding! You can now easily buy a grandma’s beautiful silverware and silver service set for super cheap at any local thrift shop.

I love real silver and years ago wanted to add to my mom and dad’s silver. I have bought real silver and found it easily at thrift shops myself.  “Tapes, records, discs” – who uses them? My 26-year-old son guffawed loudly at this one. He said “where are the cell phones, flash drives, electronic equipment?? Who has tapes of any kind anymore?”

I couldn’t give my video tapes or my cassette tapes away let alone sell them years ago. However, my 22-, 24- and 26-year-old have long ago taken over mine and Michaels massive record album collection from the 1970s-1990s, buying up new turn tables and adding to their record collections, so these have certainly become valuable again, but I would imagine the value is far more sentimental than financial.

CD’S? yes! Michael and I still like playing our CD’s occasionally and we never got rid of them all these years. I hated when my 2019 Hyundai did not come equipped with a CD player! We have by now replaced most of our CD’s via Spotify over the last several years and our old Cd’s see the light of day less and less often, buy hey, they are still valuable to us. Michael’s 2015 Audi convertible came with a single CD player and we were so excited.

But the most ridiculous one by far is “Grave Markers”! this is the best one yet! Who the heck has grave markers laying around their house?! or even on their property?! Lol! Unless you have a home built in the 1600s or live in the wilderness.

We, like every good family, had quite an extensive pet cemetery in our backyard at our home in Lakewood where we raised our 3 children for 20 years. There are various birds, hamsters, fish, probably a few bugs and caterpillars and 1 beloved cat that lived with us for 17 years. They are all buried there. They had small handmade grave markers and a silent sentinel stone Angel that kept guard over them. I doubt anyone will even know the cemetery is there, and their grave markers have disintegrated and been raked out of the flower bed by now by the new owners, but we know those grave markers were once there and hold that little cemetery fondly in our hearts.         Mary L. Bodnar 9/17/21