I run a mobile bootcamp. I parked my SUV in my driveway and left my kettlebells, TRX straps, and sound system in the trunk. Overnight, someone smashed the window and cleaned me out. Total value: $4,500. My Auto Insurance denied the claim (business property isn’t covered), and my Homeowners Insurance denied it (business property exclusion). I was left with $0.
Key Takeaways
- The Auto/Home Gap: Personal policies almost always exclude business assets. Your car insurance covers the car, not the cargo.
- “Inland Marine”: This weirdly named coverage is what you need. It covers “property in transit” or “mobile equipment.”
- Theft from Vehicle Warranty: Some policies only cover theft from a car if there are “visible signs of forced entry” (broken glass). If you left it unlocked, they deny it.
- Depreciation: Will they pay “Replacement Cost” (new gear) or “Actual Cash Value” (used gear prices)?
The “Why”: Property Off-Premises
The Trap:
Your General Liability policy might have “Business Personal Property” coverage, but usually only for “100 feet from the described premises” (your gym).
Once you drive 5 miles away to the park, that coverage stops.
Inland Marine (Equipment Floater) attaches to the gear itself, covering it anywhere in the USA.
The Investigation: I Quoted 3 Major Carriers
1. The Hartford
- My Analysis: They offer a specific “Mobile Equipment” endorsement. It’s cheap (~$150/year). It covers gear in your car, at the park, or in your garage.
2. State Farm
- My Analysis: You can buy a “Personal Articles Floater” (PAF) for business property, but their agents often mess up the classification. Ensure it is written as a Commercial Inland Marine policy, not personal.
3. Thimble
- My Analysis: Their on-demand policy can include “Business Equipment Protection” up to $2,500. It’s good for small setups, but $2,500 might not cover a full mobile gym.
[IMAGE: Photo of a smashed car window and empty trunk]
Comparison Table: Equipment Theft Coverage
| Carrier | Coverage Type | “Locked Vehicle” Rule? | Replacement Cost? |
| Hartford | Inland Marine | Yes | Yes |
| State Farm | Commercial Property | Variable | Yes |
| Thimble | Equipment Extension | No | ACV (Depreciated) |
Step-by-Step Action Plan
- File Police Report: Mandatory for insurance. You need the case number.
- Inventory List: Do you have receipts? Or at least photos of your gear? If you can’t prove you owned it, they won’t pay.
- Buy Inland Marine: Call your agent and say “I need an Equipment Floater.”
- Hide Your Gear: Tinted windows and a blanket. Don’t advertise “Mobile Gym” on the side if you leave gear inside.
FAQ
Why is it called Inland Marine?
Old insurance term. It used to cover goods on riverboats. Now it covers goods on trucks/cars.
Does it cover my laptop too?
Yes, if listed on the schedule.
What if I drop a weight on my own foot?
That’s health insurance or Workers Comp. Inland Marine only covers the weight itself, not you.