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.

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

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  1. New machinery or equipment for industrial use
  2. Iron & steel rods, metal pipes, tubes
  3. Electronic and white goods
  4. All types of FMCG commodities
  5. All kinds of food like oils essence flavours and other various packed items
  6. Automobiles
  7. New machinery machine tools and spares in closed ISO containers
  8. Solar panel
  9. Machinery machine tools spares duly packed/lashed
  10. Stationery items
  11. Timber and wood products
  12. Edible oil in tanker
  13. Aggregators/Transporters
  14. All types of containers
  15. All types of paints duly packed
  16. Auto spare parts
  17. Ceramic products and tiles
  18. Edible vegetables or fruits and nuts or peel of citrus fruits
  19. Granite and marble
  20. Metal hand tools
  21. Metal scrap in ISO container
  22. Metals of all types excluding precious metals
  23. Non hazardous chemicals in bags
  24. Pharmaceuticals and bulk drugs
  25. Rough marble in blocks
  26. Toys, games and sports equipment
  27. Used CPM machines and equipments
  28. Used machinery machine tools and spares in closed ISO container
  29. Agri commodities (Wheat/ Grains/ Seeds/ Rice/ Spices/ Pulses)
  30. Fragile items (Glass/lens)
  31. Garments,apparel,fabrics or textiles
  32. Cables and wires
  33. Household items-new and old
  34. Leather and leather goods
  35. Metal handicrafts and brasswares
  36. Milk and ghee packaged or in tankers
  37. New CPM equipment
  38. Plastics and articles thereof
  39. Rubber and articles thereof
  40. Soap, cosmetics, toiletries
  41. Wooden Furniture/Steel/Plastic/Aluminium
  42. Dry Fruits (Almonds, Cashew, etc)
  43. Paper & packaging materials
  44. Liquid chemicals/Paints/Dyes/Intermediates
  45. Processed food/edible items
  46. Natural or raw rubber in sheets, blocks, crepe or crumb form
  47. Cotton including raw cotton
  48. Jute & Coir Products
  49. Medical/Bio-Medical equipments and other such precision equipments
  50. Carpet
  51. Spices (turmeric, pepper, cardamom, coffee, tea, etc )
  52. Fertilizer
  53. Cement in bags
  54. Batteries
  55. Cast iron products (cookware sets, bakeware, etc)

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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

Learn more about Marine Insurance
Annual open Policy
Read More
Single Transit Policy
Read More
Transit Insurance
Read More
Marine Insurance
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Cargo Insurance
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Hull Insurance
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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
    By clicking on "View Plans" you agree to receive assistance and agree to our Privacy Policy and Terms Of Use and also provide us a formal mandate to represent you to the insurer and communicate to you the grant of a cover.
    The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.

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