Are you having business, which involves movement of goods using transportation? If you have taken transit insurance to cover against the damages in transit due to accident, fire, lightening and other hazards, you might have find it cumbersome to get insurance cover for every transaction from your insurance company. Marine Sales Turnover Policy is a flexible and adaptable marine insurance cover. It can be best solution for your requirement. It not only saves you from frequent documentation but also results in huge saving in premium. Rather than issuing marine certificates for every transit only declaration is to be submitted to insurance companies for the shipment taken place. A marine turnover policy has come in as a blessing for companies. It provides the facility of paying premium in instalment quarterly/ half yearly basis. Marine Insurance also covers a company’s sales turnover unlike the other marine open policies which cover the value of goods which are offered for insurance.
Sales Turnover Policy is a highly flexible and customize marine insurance cover. Instead of covering a particular type of transit, this policy can cover all the transits that are required to achieve a sales.
Key features
- Sizeable saving in premium, which is charged only on your sales turnover.
- Seamless cover with all movement of goods automatically covered.
- No hassles of submitting periodical declaration of movements to the insurer. Only monthly/ Quarterly sales figures need to be submitted.
- Facility for payment of premium on half-yearly / quarterly basis.
Benefits
STOP provides you Transit insurance coverage on:
- Imports + Customs Duty (Actual or Deemed / Contingent) +
- Domestic purchase of raw materials, consumables & stores +
- Any number of inter- factory / inter-depot / to & fro job worker movements +
- Exports (FOB/CIF) +
- Domestic sales of finished goods
- Temporary storage cover at intermediate locations like Job workers / C & F premises etc.
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