What type of Inland Marine policy protects against loss to goods while in transit?

The correct answer focuses on the Annual Transit Policy, which provides coverage specifically for loss to goods that are in transit. This type of policy is designed to protect businesses and individuals against financial losses that can occur when products are being transported from one location to another. It covers a wide range of situations, including damage or loss due to accidents, theft, or other unforeseen events while the items are in transit.

Inland Marine insurance is significantly tailored to cover properties that are mobile in nature, particularly those that are being transported or that are in the process of being shipped. The Annual Transit Policy is particularly beneficial for regular shippers, as it allows them to obtain comprehensive coverage for numerous shipments over the course of a year, rather than needing to secure individual coverage for each separate shipment.

The other types of policies mentioned do have specific applications but do not provide the same comprehensive coverage for goods in transit. For example, an Open Cargo Policy is usually relevant for ocean transit rather than inland transit. A Personal Articles Floater is designed for personal items and their risk of loss off-site, while a Name Schedule Bond is associated with contract bonds rather than goods in transit. Thus, the Annual Transit Policy is the most appropriate choice for protecting goods while they are being transported.