What is 'inland marine insurance' best known for covering?

Inland marine insurance is specifically designed to cover property that is in transit and certain movable property, which is why the selected answer is accurate. This type of insurance originated to protect goods being transported over water, but it has evolved to cover a broader range of scenarios, particularly those involving goods on the move. It includes items like tools, equipment, and cargo while they are being transported across land or stored at temporary locations, thereby offering coverage for valuable items that are not necessarily tied to a fixed location.

This specialization in coverage is significant because traditional property insurance typically focuses on stationary properties such as buildings and facilities, which does not apply to items that are frequently moved or transported. The nuances of inland marine insurance allow businesses and individuals to have peace of mind knowing their valuable possessions, especially in transit, are protected under specific conditions and policies tailored to their unique needs.