Marine Sales Turn Over Policy

This Insurance covers all transits in a single policy document, Instead of covering each & every transit by way of separate policies. Sales Turnover Policy is a highly flexible marine insurance cover. It’s a one policy document providing seamless cover for Domestic Raw material transits, Import, Purchases, Customs Duty, Excise ,Transits to Job-worker’s/fabricators premises, Inter-Depot movement, finished Goods Sales i.e. Domestic Sales, Export Sales.

Scope of Cover
Imports:
“All Risks”, War & Strikes Insurance as per Institute Cargo Clauses, including Customs Duty at actuals. Imports (FOB) and Import Duty: From anywhere in the world to Insured’s factory in India
Exports: “All Risk”, War & strike riot and civil commotion (SRCC). Exports (CIF/FOB): Finished goods from the Insured’s premises to anywhere in world
Domestic Movements: “All Risks” and SRCC. Coverage can be extended to include the risks of loading and unloading, intermediate storage (up to limited extent).
Domestic Sales: Finished Goods from Insured’s premises to anywhere in India.
Domestic Input: From anywhere in India to Insured’s factory in India
Policy can be extended to cover movement of raw materials/semi-finished/finished goods between Insured’s premises and their job worker’s premises situated at various locations in India
Voyages & Transits covered
Sales: Finished goods & other similar items.
Purchases: All Raw materials and any other materials pertaining to Insured’s trade.

Limits are fixed
Per Sending Limit: Rail/Road & Air
Per bottom Limit: Sea voyages
Per Location Limit: Exports/Imports/Inland

Key features

Sum insured: The expected annual sales turnover

Assignment