Stock Throughput Policies: Covering Your Merchandise
Insurance coverage for your manufacturing property is often separated into different policies – you may have one policy for your building and contents, one for transporting and another to protect your property while it’s at a warehouse. This can cause confusion with multiple policies, deductibles and claims handling all applying to the same loss.
Enter the “stock throughput” policy. A stock throughput policy provides coverage for all your mobile trade products including everything from raw materials to finished stock. Anything your business has that gets transported can be covered on a single policy. This simplifies your risk management program by providing a single deductible in the event of a loss.
The stock throughput policy is as dynamic as your business. Whether you import, export, store on-site or off-site, you can insure your property on a stock throughput policy. This policy can also provide worldwide coverage, protecting shipments by truck, rail, sea or air.
The benefits of a stock throughput policy extend beyond just the coverage they offer. By having a single policy you greatly reduce administration costs. It’s also much easier to track your costs since you’re not relying on coverage that’s shared with other property, such as your building. Finally, having a single policy for all of your trade products lets you recover from a loss and get back to shipping that much faster.
In summary, stock throughput policies are a great option for any manufacturer with transit exposure. By consolidating the costly and confusing patchwork of coverage into a single policy, you streamline your risk management and reduce costs. Talk to an ‘A’ Team member about stock throughput coverage today.
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