Marine Stop Policy (Sales Turnover Policy)

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗮 𝗦𝗧𝗢𝗣 𝗣𝗼𝗹𝗶𝗰𝘆 (𝗦𝗮𝗹𝗲𝘀 𝗧𝘂𝗿𝗻𝗼𝘃𝗲𝗿 𝗣𝗼𝗹𝗶𝗰𝘆)? A STOP Policy — short for Sales Turnover Policy — is a marine insurance policy where the premium is calculated on your company's projected annual sales turnover, not on a shipment-by-shipment declared value. One policy automatically covers exports, imports, domestic sales, inter-factory transfers, and job-work movements, with no periodical declarations required — only monthly sales turnover figures are submitted to the insurer. 𝗪𝗵𝗼 𝗡𝗲𝗲𝗱𝘀 𝗮 𝗠𝗮𝗿𝗶𝗻𝗲 𝗦𝗧𝗢𝗣 𝗣𝗼𝗹𝗶𝗰𝘆? STOP Policy is built for large and mid-sized manufacturers and exporters with high transaction volume across multiple locations — companies where filing a declaration for every single movement of raw material, finished goods, or export shipment becomes operationally impractical. It is widely used across manufacturing hubs including Mumbai, Ahmedabad, Surat, and Vadodara (Gujarat); Delhi NCR and Ludhiana (engineering and textiles); Chennai and Coimbatore (Tamil Nadu); Bengaluru (Karnataka); Kolkata (West Bengal); and Morbi (Gujarat ceramics). 𝗪𝗵𝗮𝘁 𝗮 𝗦𝗧𝗢𝗣 𝗣𝗼𝗹𝗶𝗰𝘆 𝗖𝗼𝘃𝗲𝗿𝘀: ✅ Purchase of raw materials and inter-factory movement to processing units ✅ Movement of finished goods from factory to depots, warehouses, or C&F agent premises ✅ Domestic sales dispatch to distributors and dealers ✅ Exports on FOB and CIF basis, and imports including customs duty exposure ✅ Intermediate/temporary storage cover at job-workers' or C&F premises ✅ Institute Cargo Clause A — All Risks, with War Clause and SRCC (Strikes, Riots & Civil Commotion) built in 𝗞𝗲𝘆 𝗣𝗼𝗿𝘁𝘀 𝗨𝘀𝗲𝗱 𝗨𝗻𝗱𝗲𝗿 𝗦𝗧𝗢𝗣 𝗣𝗼𝗹𝗶𝗰𝘆 𝗦𝗵𝗶𝗽𝗺𝗲𝗻𝘁𝘀: Mundra, JNPT (Nhava Sheva), Kandla, Chennai, Tuticorin, Kolkata, and Visakhapatnam — along with inland container depots such as ICD Tughlakabad, ICD Ludhiana, and ICD Sanand, for exporters routing cargo inland before it reaches the gateway port. 𝗦𝗧𝗢𝗣 𝗣𝗼𝗹𝗶𝗰𝘆 𝘃𝘀 𝗠𝗮𝗿𝗶𝗻𝗲 𝗢𝗽𝗲𝗻 𝗖𝗼𝘃𝗲𝗿 — 𝘁𝗵𝗲 𝗞𝗲𝘆 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲: A Marine Open Policy covers cargo value per shipment and requires periodical declarations. A STOP Policy replaces this with one turnover-based premium, removing declaration paperwork and often reducing premium outgo for high-volume exporters, since premium is charged only on sales turnover rather than on every individual consignment value. 𝗪𝗵𝘆 𝗖𝗮𝗿𝗴𝗼𝗖𝗼𝘃𝗲𝗿 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆 𝗳𝗼𝗿 𝗬𝗼𝘂𝗿 𝗦𝗧𝗢𝗣 𝗣𝗼𝗹𝗶𝗰𝘆: CargoCover Advisory is an authorized ICICI Lombard marine insurance agency that structures Marine STOP Policies for Indian exporters and manufacturers with multi-location operations. We calculate the right turnover basis for your policy, ensure Institute Cargo Clause A, War, and SRCC are built in as standard, structure intermediate storage cover correctly for your job-workers and C&F network, and provide dedicated claims support across every port and location your goods move through — so growth in volume never becomes a gap in cover. Connect with CargoCover Advisory for a free STOP Policy assessment based on your turnover and multi-location operations.

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