Why Get
Sales Turnover Policy?
A marine sales turnover policy is an apt choice for industries where creating or manufacturing the final product for sale necessitates numerous internal transits. The policy's intent is to shield businesses from financial setbacks stemming from unforeseen events such as fire, theft, or damage to stock, equipment, or property. It offers fiscal safeguarding for the company's assets and operations, providing coverage premised on the insured's annual sales turnover. Unlike policies that cover only a specific type of transit, this policy encompasses domestic purchasing of goods and services, exports, transfers between factories, warehouses, or depots, job & labor movements (to and fro), domestic sales, imports, etc.
Given that the sales turnover policy encapsulates multiple transit stages under a singular policy, it results in notable premium savings. By accurately projecting sales turnover and selecting apt coverage, businesses can sidestep excessive expenditure on superfluous coverage. As the sales turnover policy operates on a consumption basis, insurers have the discretion to present alluring payment alternatives to clients, such as the option of paying premiums quarterly or biannually, rather than upfront. This versatility aids the insured in enhancing cash flow management. Furthermore, by amalgamating all marine insurance risks under one policy, STOP affords convenience and coherence for the insured, streamlining the administrative procedure and simplifying claims management.