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.
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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
Written By: PolicyBazaar - Updated: 30 October 2023

Marine Insurance Premium Calculator

Select Commodity

  • New machinery machine tools & spares in closed ISO containers
  • Solar panel
  • Machinery machine tools & spares duly packed/lashed
  • Electronic & white goods
  • New machinery machine tools & spares in closed ISO containers
  • Solar panel
  • Machinery machine tools & spares duly packed/lashed
  • Electronic & white goods
  • New machinery machine tools & spares in closed ISO containers
  • Solar panel
  • Machinery machine tools & spares duly packed/lashed
  • Electronic & white goods

Select Mode of Transport

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  • Sea
  • Courier
  • Rail

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Policybazaar for Business - Marine Insurance - Customer Reviews
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4.3/5
Based on 114 reviews
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.
Chennai
4.3 February 28, 2023
Vishal
User Friendly Interface
The website's user-friendly interface made it easy to compare different plans and find the perfect fit for my business needs.Thanks
Gurugram
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.
Noida
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.
Jamshedpur
3.8 January 31, 2023
Arvind
Easy Navigation
The ease of navigating the Policy bazaar website and finding the right marine insurance policy was impressive. The website's user-friendly interface and intuitive design made it incredibly simple to compare various options, understand the coverage details and make an informed decision. I appreciated the transparency provided throughout the process. Thanks.
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.
Mumbai
4.3 January 11, 2023
Sanjeev Rathor
Efficient Process
When it came to claims processing, Policy bazaar demonstrated remarkable eficiency and effectivenes. I had an unfortunate incident during the coverage period and filing a claim was a breeze. The entire process was streamlined and their team guided me throuugh every necssary step, making it hassle-free. The promptness with which my claim was setled reflected their commitment to their customers' well-being and peace of mind. Thankyou.
Pune
3.8 January 01, 2023
Kunal
Comprehensive Coverage
I must mention the comprehensive coverage provided by the marine insurance policy I purchasd through Policy bazaar. It offered me the necesary protection and peace of mind. Thankyou PolicyBazaar.
Indore