Ken, I agree, all coverage is "limited", the fine print taketh away part. All risks does not cover mold, breakdown, inherent vice (manufacturing problem), and it might not even cover earthquake, landslide, flood; yes you have to read the exclusions. The first thing you do on an all risk policy is look at the exclusions, and yes, you sure do have to read the verbiage or have it explained to you. If you live near water, really important to make sure flood is covered. But as far as transportation coverage, the term inland marine was based on the original marine insurance, and it always inferred goods in transit.
I used to teach this coverage word by word, every personal and commercial policy to trainees at Travelers Ins in Hartford. Every word was studied, punctuation sometimes affecting degree of coverage. Yes, that's been almost thirty years ago, but this insurance is based on old English law going back many hundreds of years. Updated constantly, I would absolutely agree with you that insurance companies, to maintain profit or even to stay solvent, are cutting back coverage in areas that are clearly hurting them. And caveat emptor, buyer beware, know what you are covered for, and YES, get it in writing.
I always get my insurance agent to zip me an email confirming our conversation and understanding. If the agent goofs and misstates, there is E&O coverage to pay for the claim but that is a serious hassle. You for sure want to get it right the first time and all expectations should be met. If you think you are covered for flood, and you live along the coast or a big river, I would sure be extra careful to make sure flood is covered.
