Sales Turnover Policy
Secure predicted sales turnover with this coverage policy
Trusted by:
Policy Covers:
- Procurement of raw materials and finished goods
- Movement of goods between storage locations
- Custom duties when imported goods are lost
Pay ₹7,000* per yearand get ₹50 Lacs coverage
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Trusted by:
Policy Covers:
- Procurement of raw materials and finished goods
- Movement of goods between storage locations
- Custom duties when imported goods are lost
What is Sales Turnover Policy?
A Sales Turnover Policy (STOP) in marine insurance protects the predicted annual sales turnover of a company during transit. It protects against risks during transportation like fire, accidents, theft, and more. This policy benefits businesses involved in regular shipping, eliminating the need for separate policies for each shipment.
Who needs Sales Turnover Policy cover?
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹3,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹3,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹3,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹3,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹3,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹200 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹3,000 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Why do you need Sales Turnover Policy?
Why do you need Sales Turnover Policy?
Comprehensive Coverage
Protects against various transportation risks like theft, damage, accidents, and natural disasters during transit.
Streamlined Administration
Simplifies insurance management by focusing on sales turnover data rather than individual consignments.
Cost Efficiency
Potential savings on premiums based on sales volume, with options for quarterly or semi-annual payments.
Flexibility
Allows businesses to adjust coverage as sales fluctuate and request refunds for unused insurance.
Industry Relevance
Ideal for industries with complex internal transits, such as manufacturing, distribution, and retail sectors.
Why choose BimaKavach to protect your business?
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All concerns will be addressed without delay.
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Who’s this for?
What does Sales Turnover Policy cover and exclude?
Coverages
Domestic Purchase of Raw Materials, Consumables, etc
The policy covers raw materials, consumables, and domestically procured goods during transit to protect against damage, theft, accidents, and unforeseen events causing loss or damage.
Imports and Customs Duty
A STOP policy may cover customs duties paid on imported goods in case of loss, helping reimburse these costs and mitigating financial impacts on the business.
Inter-depot, Inter-factory, and Inter-warehouse Transfer
A STOP policy extends coverage to goods moving between company depots or storage locations, ensuring protection against damage, theft, or loss during transit.
Domestic Sales of Finished Goods
A STOP policy provides coverage for the domestic transit of finished goods within India, protecting against risks during transportation from manufacturing facilities to customers, distributors, or retailers via road, rail, or other means of transport.
Export Sales (FOB/CIF)
This policy safeguards export sales on free-on-board (FOB) or cost, insurance, and freight (CIF) terms. FOB coverage starts at Indian port loading, protecting goods during voyage. CIF extends coverage to transit and overseas delivery.
Theft, Pilferage & Non-delivery (TNPD)
These policies offer fundamental protection against perils encountered during the journey of goods, ensuring compensation for stolen, pilfered, or undelivered items.
Explosion
Explosion coverage safeguards your shipment and any cargo or property onboard during explosive incidents. It also covers salvage costs and liability for damages to other carriers and property.
Temporary Storage Cover at Intermediate Locations
This policy provides extensive coverage not just during goods transit but also during temporary storage at intermediate locations, ensuring protection when goods are stationary awaiting further transportation or processing.
Natural Calamities
This coverage protects against damages or losses to cargo caused by natural disasters such as storms, hurricanes, earthquakes, or tsunamis.
Exclusions
Normal Wear & Tear, Volume & Weight Loss, Liquid Leakage
Losses or damages resulting from weight loss, volume loss, liquid leaks, or normal wear and tear are excluded from coverage for insured items.
Inadequate Packaging
Loss resulting from the insured's negligence or failure to take reasonable precautions when packaging or preparing the insured item for delivery is not covered by the policy.
Intentional or Wilful Activities by The Insured
This insurance policy excludes losses or damages caused intentionally or wilfully by the insured or their representatives, including deliberate damage to their own cargo.
Inherent Nature
Loss or damage caused by the inherent characteristics or flaws of the insured item is not covered under this policy.
Default in Financial Commitments
This exclusion applies to losses or damages caused by a business failing to meet its financial obligations, such as defaulting on a loan. It often applies when a business cannot fulfill delivery or transportation contracts due to financial constraints.
Nuclear Risks
Excludes damages from nuclear reactions or contamination.
Pollution and Contamination
Excludes losses due to pollution or contamination.
Contractual Liability
Excludes liabilities assumed under contract unless otherwise covered.
Consequential Losses
Excludes business interruption or loss of profits.
Government Seizure
Excludes losses from government actions or seizures.
Domestic Purchase of Raw Materials, Consumables, etc
The policy covers raw materials, consumables, and domestically procured goods during transit to protect against damage, theft, accidents, and unforeseen events causing loss or damage.
Imports and Customs Duty
A STOP policy may cover customs duties paid on imported goods in case of loss, helping reimburse these costs and mitigating financial impacts on the business.
Inter-depot, Inter-factory, and Inter-warehouse Transfer
A STOP policy extends coverage to goods moving between company depots or storage locations, ensuring protection against damage, theft, or loss during transit.
Domestic Sales of Finished Goods
A STOP policy provides coverage for the domestic transit of finished goods within India, protecting against risks during transportation from manufacturing facilities to customers, distributors, or retailers via road, rail, or other means of transport.
Export Sales (FOB/CIF)
This policy safeguards export sales on free-on-board (FOB) or cost, insurance, and freight (CIF) terms. FOB coverage starts at Indian port loading, protecting goods during voyage. CIF extends coverage to transit and overseas delivery.
Theft, Pilferage & Non-delivery (TNPD)
These policies offer fundamental protection against perils encountered during the journey of goods, ensuring compensation for stolen, pilfered, or undelivered items.
Explosion
Explosion coverage safeguards your shipment and any cargo or property onboard during explosive incidents. It also covers salvage costs and liability for damages to other carriers and property.
Temporary Storage Cover at Intermediate Locations
This policy provides extensive coverage not just during goods transit but also during temporary storage at intermediate locations, ensuring protection when goods are stationary awaiting further transportation or processing.
Natural Calamities
This coverage protects against damages or losses to cargo caused by natural disasters such as storms, hurricanes, earthquakes, or tsunamis.
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When can I Claim?
A claim under Marine Sales Turnover Policy Insurance can be registered in the below circumstances:
- When there is damage of raw materials or finished goods procured
- If goods are stolen during transit from origin to destination
- Damage to goods moving between storage locations
- When goods are damaged due to natural calamities
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