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Don't let a single incident wipe out your hard-earned inventory. Get comprehensive coverage that goes beyond basic protection.
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Why is Stock Insurance Vital for Business
Stock insurance protects your business inventory from various risks including fire, theft, natural disasters, and damage. It ensures business continuity by covering replacement costs.
What Types of Businesses Need Comprehensive Stock Insurance Policy Coverage?
Retail Stores
Stock insurance for small businesses protects against losses due to theft, damage, and supply chain issues, ensuring that your shelves are always stocked and ready for customers.
Startups
Stock insurance options for startups in India provide essential asset protection for new businesses, covering unattended inventory or stock against unforeseen risks.
Manufacturing Units
Comprehensive coverage for raw materials, work-in-progress, and finished goods ensures that your production line remains uninterrupted and financially secure.
Wholesale Distributors
Protects large volumes of inventory stored in warehouses, safeguarding against supply chain disruptions, burglary and theft.
E-commerce Businesses
Ensures that your physical goods are covered under stock insurance, protecting against losses during transit and storage, and maintaining customer satisfaction.
How will Stock Insurance Policy Help Businesses?
Diwali, the festival of lights, is also a peak season for retailers in India. A popular clothing store in Delhi had stocked up on festive wear, expecting a surge in sales. However, just days before Diwali, a faulty electrical wiring triggered a fire that engulfed the store's stockroom, destroying a significant portion of its inventory
The Only Insurance You Need for Your Stock
The store owner was devastated, fearing the financial ruin that this loss could bring. However, thanks to their comprehensive stock insurance policy, the situation took a turn for the better.
Inclusions
Inventory Coverage
Protects the value of goods held for sale, raw materials, and finished products.
Fire & Allied Perils
Covers damage caused by fire, lightning, explosion, etc.
Accidental Coverage
Get covered against earthquakes, floods, and cyclones.
Spillage & Leakage
Covers damage caused by accidental spills or leaks.
Burglary and Theft
Covers losses due to theft, burglary, or housebreaking.
Exclusions
Pollution or Contamination
Damage caused by pollution or contamination is generally not covered.
Wilful Acts
Any intentional damage or loss caused by the insured or their employees is excluded.
Natural Wear and Tear
The policy doesn't cover the gradual deterioration of assets due to normal use and aging.
War, Invasion, or Civil Unrest
Losses resulting from war, invasions, or civil unrest are typically excluded.
Expert Guidance
Fast and Easy Claims
Business Continuity
Dedicated Claims Support
Why Get Stock Insurance Policy From Covrzy?
Your business is still not protected if your inventories are exposed to risks. From fire to theft, your stock is always vulnerable. Covrzy’s Stock Insurance policy prevents that at all costs, ensuring your stock is all guarded.
Expert Guidance
Fast and Easy Claims
Business Continuity
Dedicated Claims Support
Real Life Claim Story
Piramal Pharma, a global drug manufacturing company, recently lost their inventories worth ₹45 crores in a fire. The company additionally faced strong supply chain disruptions too, resulting in their business facing a halt till inventories were restored.
Reputation Management
Insurance resources could assist in managing the PR crisis and restoring consumer trust.
Inventory Recall Cost
Insurance could have covered recall costs and unsold inventory losses, easing Nestlé's financial burden.
Frequently Asked Questions
What is stock insurance, and what does it cover?
Stock insurance, also known as inventory insurance, is a type of business insurance that protects your inventory or stock from loss or damage. This includes physical goods held for sale, raw materials, work-in-progress, and finished goods. It typically covers perils like fire, theft, natural disasters, and other unforeseen events.
How do I choose the best stock insurance policy for my small business?
Is stock insurance mandatory?
Do you have more questions?
Contact us for any queries related to business insurance, coverages, plans and policies. Our insurance experts will assist you.
Never Let Your Inventory Get Exposed To Risks Again
Custom stock insurance policies for small business
