STOP is a designer product for the discerning customer, an Open Policy in the real sense of the term. The premium for the policy is charged only on your sales turnover.
STOP provides you Transit insurance coverage on:
- Imports + Customs Duty (Actual or Deemed / Contingent) +
- Domestic purchase of raw materials, consumables & stores +
- Any number of inter- factory / inter-depot / to & fro job worker movements +
- Exports (FOB/CIF) +
- Domestic sales of finished goods
- Temporary storage cover at intermediate locations like Job workers / C & F premises etc.
What are the advantages of Tata AIG General Insurance Company Limited Marine STOP?
- Sizeable saving in premium which is charged only on your sales turnover.
- Seamless cover with all movement of goods automatically covered.
- No hassles of submitting periodical declaration of movements to the insurer. Only monthly sales figures need to be submitted
- Intermediate storage cover can be built into the policy.
- Premium on full annual sales turnover need not be paid in advance. Facility for payment of premium on half-yearly / quarterly.
This policy provides cover from the time the raw material is purchased to movements to all intermediate locations for processing or storage until it reaches the final destination or until the customers responsibility ceases. This gives a seamless cover on a worldwide basis thereby reducing gaps in the overall process. Since each industry comes with its unique challenges and logistical issues we look forward to working with you to design a cost-effective product tailored to your needs.