“Floating” Property

Just because it floats doesn't mean it's all wet.

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When our customers find themselves in unmapped territory with their mobile or moveable property, we stand ready to help direct them to a workable coverage solution. RLI Marine offers the best coverage for “floating” property, as well as outstanding standard inland marine protection and additional coverages.

Coverage
Creative underwriting means the right coverage. Faced with the task of insuring an unusual type of property, an RLI underwriter views this as an opportunity to be creative. Problem solving is an everyday occurrence at RLI.

All types of dealers
We cover dealers’ property, excluding vehicles licensed for use on public highways. This may include:

• Mobile equipment, including contractor’s equipment
• Camera or musical instruments
• Fine arts property

Coverage may be extended to cover exhibitions and demonstrations, as well as equipment leased, loaned or rented to customers.

All types of camera & musical instruments
Professional photographers and musicians alike are constantly on the move, sometimes requiring worldwide coverage territory with their policies. Photo equipment and musical instruments alike are valuable and highly damageable, subject to being dropped, roughly handled, or stolen. Both types of property may be insured on a stated-amount basis.

All types of fine arts
Coverage may include:

• Commercial collections, owned either in the name of individuals or corporations.
• Museum collections. Depending on the types of artwork or other property, breakage coverage may be available.
• Valuation conditions are often vital, and we tailor the policy to fit the needs of your customer.
• We factor proper packing, moving, and storage of artwork into our underwriting to understand and meet your customers’ needs.

All other types of miscellaneous “floating” property
RLI is able to write coverage for most types of mobile equipment. These may include:

• Bailee’s customers goods (including repair or service risks)
• Property at exhibitions
• Mobile medical equipment
• Railroad cars & locomotives (“rolling stock”)
• Signs (including mechanical)
• Golf carts
• Vending machines

And the list goes on and on-call to see about other opportunities. RLI is eager to seek solutions for your insurance needs —even about a type of property we’ve never been asked to cover before.

Additional benefits
Experienced underwriting — Our underwriters are among the most experienced in the industry, which allows us to tailor coverage to your specific needs.
Commitment to loss control — We are committed to helping you reduce loss costs with proven risk control methods.
Financial strength — RLI is rated “A+” (Superior) by A.M. Best and “A+” by Standard & Poor’s.

Appetite and Coverage Amounts
Risks which fall into this catch-all category typically do not fit neatly and conveniently anywhere else. For that very reason, each submission displays unique features and we encourage submissions to test our flexibility and creativity. Covered property is usually mobile in nature, even though it may be situated at one location more-or-less permanently. If we fully understand the risk characteristics, it is likely we will be able to offer coverage on some basis.

Coverage limits vary widely and the size of schedules we can write is almost unlimited depending on the spread of risk. If there are fixed location exposures, then our property guidelines apply. This would restrict the total insured values we could write to $15MM at a single location (or only $5MM if the construction type is frame or joisted masonry).

Target Customers
All these classes fall into this general category and may be desirable under the right circumstances: bailee's customers, exhibitions, floor plan, livestock, live animals, miscellaneous scheduled property, mobile medical equipment, musical instruments, negative film, photographic equipment, physicians and dentists equipment, railroad rolling stock, signs, theatrical property.

Information Required
To receive a competitive quote from RLI Marine, please submit completed ACORD applications or equivalent information to your local RLI Marine underwriter. (Consult actual policy for exact terms, conditions and exclusions governing coverage for this and all RLI products.)

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