Policy snapshot
STOP is a marine-cum-storage insurance product that covers all movement and incidental storage of goods, based on a company's annual sales turnover instead of specific transits.
What is Sales Turnover Policy (STOP)?
Sales Turnover Policy provides end-to-end cargo protection — from raw materials to finished goods — across transits and storage, based on your company’s turnover. It simplifies coverage for high-volume businesses.
What can it cover?
- STOP offers comprehensive protection for all goods in transit (inbound and outbound), inter-factory transfers, customer deliveries, and temporary storage at warehouses. It includes risks like fire, theft, loading/unloading damage, and natural perils. Custom clauses can be added to extend cover for overseas transits, storage, or terrorism as per requirement.
Who should consider it?
- Large manufacturers, OEMs, and exporters, Multinational supply chains and group companies, Any business with complex and high-value logistics operations
Key features to understand
- {"heading": "Key Features", "bullets": ["Covers domestic & international movement + incidental storage", "Valuation based on annual turnover, not per shipment", "Reduces underinsurance and administrative load", "Warehouse-to-warehouse, inter-unit, customer delivery – all included", "Theft and pilferage included in all-risk versions", "Terrorism risks can be covered for storage, but usually excluded in marine legs unless specified"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.