Deterioration of Stock Insurance

All Property Insurances

Deterioration of Stock Insurance

Deterioration of Stock Insurance is tailored for businesses that utilize cold storage facilities to store perishable goods. This policy is designed to protect against the risks associated with the smallest changes in storage conditions, which could lead to the rapid deterioration of items such as food, pharmaceuticals, or flowers due to mechanical failures or other unforeseen incidents.

Benefits

Deterioration of Stock

  • Covers the loss or damage to stock in cold storage caused by a change in temperature due to mechanical failure or any other covered cause.

Damage of Stock

  • Covers physical damage to the stock itself due to leakage or failure of the storage unit.

Eligibility

  • Policyholder should have an insurable interest in the asset.
  • Must be eligible to sign an insurance agreement as per the legislation framework of Sri Lanka.
  • Insuring property/assets must be within the geographical limits of Sri Lanka.

This insurance ensures that businesses can manage the risk of stock loss effectively, safeguarding their investment in critical inventory that requires precise environmental control.

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