Protecting Your Valuable Stock, So You Keep Going When the Unexpected Strikes
Sukoon Deterioration of Stock (DOS) Insurance is designed to protect businesses that store high-risk goods in cold storage for extended periods. Any breakdown of refrigerating machinery can result in rapid spoilage and substantial financial losses, often leading to near-total stock damage. This policy provides cover for the deterioration of goods caused specifically by the breakdown of refrigeration equipment, helping safeguard stock value and maintain business continuity during unexpected disruptions. Sukoon DOS Insurance is suitable for owners and tenants of cold storage facilities, as well as businesses involved in food preservation, meat and fish processing, agricultural manufacturing, and the chemical and pharmaceutical industries.
What’s Covered
You are covered for any kind of deterioration of stock that results from the following causes:
- A rise or fall in cooling temperature
- The unforeseen and sudden escape of refrigerants into the cold-storage rooms
- An incorrect composition of the storage atmosphere directly resulting from any material damage to the refrigeration plant (which is indemnifiable under machinery insurance)
Extensions
You can extend the Deterioration of Stock (D.O.S.) cover to include "deterioration due to the failure of the public power supply", provided the situation regarding public and back-up power supplies is found to be satisfactory.
YOUR QUESTIONS ANSWERED
We are here to help. Find the most commonly asked Deterioration of Stock (DOS) Insurance questions.
No, any loss or damage to items that are immediately affected by the above are not covered. However, your insurance can be extended to cover any loss or damage to the correctly executed items resulting from an accident that happened because of faulty design, defective material or workmanship.
No, it's not. It totally depends on you. But we would say that it is advisable.
So, this is how it goes. You will need to estimate the maximum value of the stock that you may be holding at a particular point of time during the policy. This will be considered as the sum insured and the premium rate is charged based on this amount.
At the beginning of each month, you will need to declare the highest value of the stock that you were holding during the previous month. The same will be considered as the declaration for that month. At the end of the policy period, the premium is adjusted based on the average monthly declarations provided by the insured.
To be honest, we don't usually insure plastic factories. However, you can reach out to us and we can come to a decision based on your case.
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