An option contained in a Marine Insurance Policy
Stock throughput insurance is a cover that doesn’t necessarily follow what you would expect conventional insurance to be
An insurance policy that pays the invoice value and not cost, stock covered separately to a conventional Commercial Combined insurance policy, usually where you would expect to find stock covered.
What is this cover designed to do?
Stock throughput insurance covers stock temporarily at your premises whilst en-route to the final destination – your customer. Under normal circumstances stock would be covered along with your machinery, plant, contents etc, in the event of a loss at the business premises you would be paid what the purchase cost is.
But its not for everyone
Stock throughput insurance isn’t for everyone, if you just purchase stock on a speculative basis, as in you buy 5000 widgets and you will sell them sometime then this cover isn’t for you really.
Import goods for onward transmission to your customer who has already purchased the goods, ie you have purchased the goods from your supplier based on the order you have received from your customer then stock throughput insurance may very well be for you.
Find out whether this cover is for your business
Call us now on 01623 889 530 and discuss your requirements, stock throughput may be an option to you