Marine Insurance – Sales Turn Over Policy is the insurer's most comprehensive cargo cover, designed for large businesses with substantial, continuous transit activity. Instead of insuring individual shipments or maintaining a depleting sum insured, STOP covers your entire estimated annual sales turnover as a single insured figure — automatically covering exports, imports, domestic sales, and stock transfers, with periodic turnover declarations replacing per-shipment paperwork.
Probitas Insurance Brokers· takemyinsurance.com
"This policy is designed to cover Sales turnover (including export/import/indigenous sale, stock transfer) during the financial year of the Assured for one year." — the insurer's own product page. STOP is fundamentally different from every other marine cargo product: it doesn't insure individual shipments or a depleting pool of cargo value — it insures your company's entire annual sales turnover as a single figure.
Your entire estimated annual sales turnover becomes the single insured amount — exports, imports, domestic sales, and stock transfers between your own facilities all fall under one umbrella, automatically.
Scope"This policy operates on a consumption basis.. organizations only need to declare their sales transits during its validity period without requiring monthly declarations or replenishments" — a meaningfully lighter administrative burden than Open Policy or Open Cover.
Major Admin Relief"The insurance coverage commences from the moment the raw material is acquired and continues through all transportation phases and storage at intermediary sites, culminating at the final destination" — confirmed by industry sources, a far broader scope than transit-only cover.
Broadest Scope"Premiums are calculated based on overall [turnover]" rather than individually rated per shipment — often leading to meaningful cost savings for businesses with high transit volume relative to shipment count.
Cost-Efficient at Scale"As the sales turnover policy operates on a consumption basis, insurers have the discretion to present alluring payment alternatives.. such as the option of paying premiums quarterly or biannually, rather than upfront" — confirmed by industry sources, helpful for cash flow management.
Flexibility"The policy covers storage extension of cover for 60 days (if required, subject to additional premium)" —, the insurer's own page — including intermediate storage for allocation, redistribution, and processing.
the insurer Featurethe insurer's Own Marine Product Range & Industry-Standard Comparisons
STOP sits at the top of the insurer's marine cargo product range in terms of scope and scale — built for the largest, most transit-intensive businesses.
Covers the entire estimated annual sales turnover as a single insured amount. No per-shipment declarations — only periodic turnover figure submissions. Covers export, import, domestic sale, and stock transfer automatically, including pre-transit phases like raw material storage. Minimum Rs 50 crore turnover required.
Turnover-Based, Broadest ScopeA stamped document with a fixed, large sum insured that reduces (reducing balance method) with each declared shipment, ceasing at 12 months or sum insured exhaustion. Each shipment must be individually declared — a meaningfully heavier administrative load than STOP.
Sum-Insured Based, Per-Shipment DeclaredNot itself a stamped policy; runs against a cash deposit account, with SCL/PBL limits instead of a sum insured. Every shipment must still be individually declared, with a stamped certificate issued each time.
Deposit Account Based, Per-Shipment DeclaredCovers a single voyage or shipment only — the simplest, most limited-scope product in the range, suited to occasional shippers rather than continuous, high-volume businesses.
Single Shipment Onlyfrom
| Criterion | STOP Terms |
|---|---|
| Entity type | Must be registered under the Indian Companies Act, 1956 |
| Minimum turnover | Rs 50 Crores — policy will not be issued below this threshold |
| Sum insured basis | Higher of: average sales turnover of previous 3 years (excluding expiring year, per balance sheet); insured's current-year estimate; or actual preceding-year turnover |
| Risk commencement | As per the sale/purchase contract of the insured with their buyer/supplier — can begin ahead of physical transit |
| Contingency interests | Not covered under this policy |
| Storage extension | Up to 60 days available, subject to additional premium |
Industry-Standard STOP Coverage Span, Consistent with the insurer's Risk-Commencement Wording
This is what genuinely sets STOP apart from every other marine product in this series — its coverage doesn't start and stop with a single transit, but follows your goods through the entire commercial journey.
Coverage can begin here
Internal movement covered
Allocation, redistribution
All transit modes covered
Where customer liability ends
"This policy is designed to cover Sales turnover (including export/import/indigenous sale, stock transfer)" —, the insurer's own page. This means movement between your own factories, warehouses, or depots — not just sales to external customers — falls within STOP's scope. For businesses with complex internal logistics networks, this is a significant, often underappreciated benefit.
Industry-Standard STOP Coverage, Consistent with the insurer's Eligibility Page
Goods sold and transported outside India, covered as part of your overall turnover under STOP —, the insurer's own page ("export").
InclusionGoods purchased and transported into India, similarly covered as part of overall turnover —, the insurer's own page ("import").
InclusionSales transacted and transported entirely within India —, the insurer's own page ("indigenous sale").
InclusionMovement of goods between the insured's own facilities (factories, warehouses, depots) —, the insurer's own page ("stock transfer").
Inclusion"Storage extension of cover for 60 days (if required, subject to additional premium) under.. Intermediate storage for Allocation, Redistribution and Processing." —, the insurer's own page.
Subject to Additional PremiumAs with the insurer's other marine cargo products, the Institute and Inland Transit Clauses provide the underlying risk framework, with coverage levels selectable per the agreed terms.
Standard Clause Framework"The Institute and Inland transit Clauses incorporate a set of exclusions" —, the insurer's own page. Please request the complete clause wording and your specific policy's exact coverage terms from Probitas before finalising your STOP.
from
| Element | Confirmed / Industry-Standard Mechanic |
|---|---|
| Sum insured determination | Higher of: average turnover of previous 3 years (excl. expiring year, per balance sheet); current-year estimate; or actual preceding-year turnover |
| Risk commencement | As per the sale/purchase contract with buyer/supplier — not necessarily tied to physical transit start |
| Premium calculation basis | Calculated on overall projected/declared sales turnover, not per-shipment value |
| Premium payment flexibility | Quarterly or biannual payment options possible, per industry-standard STOP structuring (confirm with Probitas for the insurer specifically) |
| Declaration frequency | Periodic (commonly quarterly per industry-standard practice) sales turnover figures, not per-consignment declarations |
| End-of-year adjustment | Premium typically adjusted at policy expiry based on actual achieved turnover versus the estimate used at inception |
| Contingency interests | Explicitly not covered —, the insurer's own page |
"Imagine that a business operating in 2023 planned exports worth ₹100 crores and imports worth ₹50 crores. The premiums payable towards the policy are calculated based on the projected sales turnover of ₹100 crores" — illustrative industry example (not the insurer-specific figures). This shows the core mechanic: rather than insuring and rating each shipment separately, the entire projected turnover figure becomes the basis for both sum insured and premium calculation.
Industry-Standard STOP Exclusion Pattern, Consistent with Institute Cargo Clauses
Explicitly excluded —, the insurer's own page: "Contingency interests shall not be covered."
Damage arising from the inherent characteristics or nature of the goods themselves, rather than an external insured peril, is generally excluded.
Losses arising from the insolvency or financial default of carriers or related parties are commonly excluded across marine cargo cover.
Damage caused by insufficient or unsuitable packing for the goods and journey type is generally excluded.
Loss attributable to the insured's own wilful misconduct or intentional acts is excluded.
Ordinary leakage, ordinary loss in weight or volume inherent to certain goods types is generally excluded.
"The exclusions under Duty policy shall be in the line with cargo policy" — confirming the insurer applies a consistent exclusion framework across its marine product range. Please request the complete, STOP-specific exclusion wording from Probitas before finalising your policy.
Standard Marine Cargo Claims Process, Industry-Standard STOP Guidance
"Notify your insurer promptly" — confirmed, industry-standard STOP claims guidance. As with every marine cargo product, prompt notification on discovering loss or damage is essential.
Since STOP covers your overall turnover rather than individual declared shipments, confirm the affected transit genuinely falls within your policy's covered activities (export/import/domestic sale/stock transfer) and turnover period.
"Provide necessary documentation" — typically including invoices, transport documents, and evidence the transit relates to your declared sales turnover for the relevant period.
As with other marine cargo claims, an IIISLA-licensed marine cargo surveyor is typically appointed for claims above the prescribed threshold, under the IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015.
"Cooperate during the investigation" — confirmed, industry-standard STOP claims guidance, consistent with the cooperative obligation across all marine cargo claims.
Call Probitas at 022 4302 0000 for the insurer's exact STOP claims intimation timeline and documentation checklist — given STOP's turnover-based structure, having your declaration and turnover reporting records well organised throughout the year will make any claim significantly smoother to process.
Marine Insurance – Sales Turn Over Policy — Frequently Asked Questions
Get Your the insurer Marine Insurance – Sales Turn Over Policy Quote
Tell us about your business and turnover, and our specialist will confirm eligibility and structure the right cover.
By submitting you agree to our Privacy Policy and Terms & Conditions. Marine Insurance – Sales Turn Over Policy (STOP)· IRDAI Licensed. For entities registered under the Indian Companies Act with minimum Rs 50 crore turnover. Covers entire estimated annual sales turnover (export, import, indigenous sale, stock transfer) as a single insured amount, with periodic turnover declaration rather than per-shipment declarations. Sum insured: higher of average 3-year trailing turnover (excl. expiring year), current-year estimate, or actual preceding-year turnover. Risk commences per sale/purchase contract with buyer/supplier. 60-day storage extension available subject to additional premium. Contingency interests not covered. All terms per the insurer's STOP policy document; confirm exact eligibility, sum insured calculation, declaration process, and premium directly with Probitas/the insurer before purchase. Probitas Insurance Brokers Pvt. Ltd.· IRDAI Lic. No. 528.