Marine Insurance: Sales Turn Over Policy

The policy is designed to insure a company's sales. This includes export/import / indigenous sales, stock transfer, procurement, etc. during the financial year. The policy is usually issued to companies that have a production unit and are registered under the Companies Act of 1956.

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Highlights of Marine STOP Policy

Here are some of the highlights of the Marine STOP Policy:

The STOP insurance policy covers different aspects of the transit of the Assured, like exports, imports, indigenous production, stock transfers, purchase and sales returns, etc.
The sum insured under the policy is based on the annual turnover of the Assured and is not obligatory to be declared unless required by the Insured for the purpose of negotiating export documents.
The sum insured is determined according to the average sales turnover made in the last 3 years, excluding the expired years, as obtained from the Balance Sheet or estimated for the current year, or the actual turnover of the Assured in the preceding year, whichever is higher.
The policy does not cover Capital Goods, Project Materials, Spares or Machinery unless related to the trade of the Assured; timber logs, coal, cement, jewellery, household goods.

Learn more about Marine Insurance

Annual open Policy

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Single Transit Policy

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Marine STOP Policy Coverage

This policy provides coverage for the following:

The STOP policy in marine insurance provides all risks cover issued with War & SRCC.
The cover is for Basic Damage and Fire during the course of the journey.
The premium rate depends on the proposed Terms of Cover.
SRCC (Inland Transit)
War & SRCC (Import & Export)
Non-delivery, pilferage & theft in case of Basic Cover only
The policy provides coverage for any additional storage prior to the delivery of cargo at the final destination

Marine STOP Policy Does Not Cover

This policy does not provide coverage for the following:

Inherent vice
Wilful misconduct of the assured
Nuclear weapons
Rats and vermin
Improper packing
Deliberate damages
Ordinary leakage in case of liquid cargo
Ordinary loss in weight
Insolvency of carrier
Ordinary wear & tear

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Policybazaar for Business - Marine Insurance - Customer Reviews

View all 114 reviews

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4.3

out of 5

Based on 114 reviews

14 users

87 users

13 users

0 users

0 users

3.8 April 20, 2023

Anas

Great Experience

I recently purchased Marine insurance from Policybazaar for my shipping business and I must say I am thoroughly impressed with their service and coverage. From start to finish, the experience has been smooth and hassle-free.Thankyou.

Mizoram

4.3 April 03, 2023

Vaishnav

Provides Comprehensive Protection

When it comes to coverage, Marine insurance that i bought from PolicyBazaar has exceeded my expectations. It provides comprehensive protection for my cargo and vessels during transit, ensuring I can focus on my business operations with peace of mind. Thankyou.

Assam

4.3 March 17, 2023

Umang

Excellent Services

I highly recommend Marine insurance from PolicyBazaar website to anyone in the shipping or logistics industry. Their user-friendly website, comprehensive coverage, and excellent customer service make them stand out from the competition. With Policybazaar, I feel confident in navigating the high seas, knowing that my business is well-protected. Thank you, Policybazaar.

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4.3 February 28, 2023

Vishal

User Friendly Interface

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4.3 February 11, 2023

Parth

Prompt Services

I appreciate the transparency and honesty with which Policybazaar handled my claims. They were prompt in processing my claim and their claim settlement process was hassle-free.Thanks PolicyBazaar.

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3.8 February 10, 2023

Rishabh

Exceeds Expectations

I recently had the pleasure of purchsing marine insurance from Policy bazaar website and I must say it has been an outstnding experience from start to finish. I am thrilled to share my positive customer review, as this truly exceeded my expectations. Thanks PB.

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3.8 January 31, 2023

Arvind

Easy Navigation

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Ajmer

3.8 January 21, 2023

Vishal

Excellent Support

The customer service provided by Policy bazaar was decent. Their team was responsive, knowledgeable and went above and beyond to assist me at every step. Their professionalism and commitment to customer satisfaction were truly commendable.Thankyou.

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Disclaimers⁺
*Savings of 42% are based on the comparison between the highest and lowest premiums for a Rs 50 lakh sum insured under Inland Transit Clause B or Institute Cargo Clause B for single transit cover of auto spare parts with shipment type of Inland(Domestic) and road as mode of transport. Premium varies on the basis of Occupancy, Business Activity & Coverage Type
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