Freight Cover
Stock Throughput Insurance Policy – Quotes in 5 Minutes
Zero hassle protection covering goods at location or in transit.
Underwritten by Lloyds of London
Up to $10M per location and for goods in transit.
Annual policy for complete protection.
For Manufacturers, distributors, retailers, wholesalers & more
Access a Panel of Global Underwriters Through Our Regulated Insurance Partners
Bringing together global aviation supply chain expertise and specialist regulated insurance providers:
What is Stock Throughput Insurance?
Stock Throughput Insurance is an annual Ocean Marine policy that provides coverage for physical loss of and/or damage to insured goods throughout the entirety of the supply chain. Insured goods are covered while in transit from the time that they are sourced until delivered to their ultimate destination, as well as any scheduled storage location outside of the ordinary course of transit in between.
Safeguard all raw materials, other stocks, and finished products.
Covered in transit, storage, or otherwise.
Coverage tailored to the aviation unique supply chain needs and evolving risks
Get a simplified approach to supply chain risk management.
Export
The policy insures a company’s inventory and the flow of goods from the source of production to its final destination.
Transit
All-risk coverage for goods and merchandise while in transit or at a named storage facility
Warehouse
Up to $10M in international conveyance limits and $5M in domestic
Final destination
Door-to-door protection from physical loss or damage—including acts of god, loading damage, flooding, fire, roof collapse and theft
Flycovr
A Guide to Stock Throughput Insurance
Are you trying to manage your inventory risks and reduce your insurance costs but you’re struggling to find the right insurance for your goods?
Are you concerned that you have gaps in your coverage, leaving you exposed to risk that is uninsured?
It can sometimes be a challenge to get the insurance you’re after, and many shippers end up taking out multiple policies to cover their insurance needs, or may find themselves relying on liability from others in the supply chain – a less than ideal situation!
If you are looking for full coverage for your cargo, without breaking the bank, then stock throughput insurance could be the solution you’re seeking.
What Is Stock Throughput Insurance?
Stock throughput insurance (STP) is a comprehensive insurance policy that offers end-to-end global coverage for your cargo. This solves the problem of any potential gaps in your insurance coverage, and means that your goods are covered while they’re in transit, while they’re in storage and all points in between. Insure up to 10 locations with a $10million insurance cover and all transits in between your locations and your customers.
When you have a STP insurance policy, this single product effectively safeguards your goods with extensive insurance, at all stages, for your complete peace of mind.
Freight insurance
Who Needs Stock Throughput Coverage?
A stock throughput policy provides seamless insurance coverage from door-to-door, including storage, loading and unloading, transportation, and processing. Unlike all standard carrier policies or individual storage insurance, our coverages are designed for all circumstances and meet the requirements of a fast paced aviation industry.
Many businesses can benefit from a cost- effective STP policy no matter what size you are including:
01/
Importers
02/
Exporters
03/
Distributors
04/
Manufacturers
05/
Retailers
Companies involved in aviation, construction, logistics, and a whole range of sectors, can make use of STP to manage risk and reduce insurance costs.
To speak in our language. no matter if you are an MRO, Logistics Provider, Parts Trader or Global Supplier of specifc aircraft parts – you can get covered. Finally, an aviation specific solution to match our industry needs.
Stock throughput coverage simplifies cargo insurance so that a single STP insurance policy effectively closes any gaps in your cover to ensure you are insured at all times for your moveable inventory. This includes finished and semi-finished goods and raw materials as well.
Is it right for you?
Pros and Cons of Stock Throughput Insurance
As we can see, an STP insurance policy can be very advantageous. We’ll explore its usefulness in more detail, as well as looking at any potential disadvantages which you should consider.
Let’s look at some of the pros and cons:
The Pros
End-to-end coverage
One of the most useful and important benefits of stock throughput insurance is the comprehensive coverage you get, through your entire supply chain. While other insurance policies may cover parts of this, you can find yourself with gaps in your coverage that leave you worryingly exposed to risk.
Some common gaps in insurance policies include Acts of God and Employee Theft, two of the highest reasons insurance claims are made. Furthermore, standard policies ignore critical parts where damage can occur, such as loading and unloading from trucks or loading the facility.
These policies not only cover those gaps, they include both the journey and the storage, saving you any need to keep reviewing expensive policies, worrying about premium costs or being concerned as to whether you are covered.
Wide protection
STP is designed to cover semi-finished and finished goods, raw materials, parts, and other inventory, both in transit and in storage. This broad, All-Risk coverage offers you peace of mind and covers you for things not typically included in other insurance policies.
Aircraft Parts are often just lumped into standard insurance policies. This can mean insuring on weight, rather than value. With full ATA Chapter Coverage, your specific parts can now be covered to true invoice value.
Cost-effective
With STP you have complete coverage under one policy. This means lower premiums than if you were to take out multiple policies in order to ensure you’re adequately covered. The term Stock Throughput literally means all your stock. passing through and travelling to all your required locations, with just one policy An unfortunate event occurs, your policy premium does not change. Making your stock throughput insurance application through Flycovr means getting an extremely accurate quote via our dynamic pricing model which uses a third-party data fed algorithm for a very fast quote.
Flycovr offers a first of its kind when it comes to protecting the global aviation supply chain.
Quicker, easier, claims processing
A stock throughput policy claim can usually be faster and simpler to settle, which means one less thing to worry about in the event of loss or damage to your cargo.
Through Flycovr, you have access to global leading insurtech solutions, and as such, can benefit from digital claims processes. With our Stock Throughput claims process, you can make a claim through an online portal which is extremely fast and efficient.
Freeing up your valuable time and removing the stress often associated with a typical claims process.
The Cons
There are not really many disadvantages of stock throughput insurance as such. However, you could consider:
STP suitability
Is this the most appropriate insurance for your business? If you don’t have significant risk exposure then a STP policy may not be necessary or suitable for your cargo.
You may find more suitable one-click solutions for your needs through Flycovr.
Such as:
One-Off Pay as you Go. Instant Cargo Cover. This can cover any shipments to most global locations in seconds. Click Here to insure a one-off shipment with all risk global cargo cover now.
Multiple shipment cover
Cover a series of scheduled shipments with our digital instant cargo cover here.
Are you worried about a one-off high value part on transit? If so, you don’t need annual coverage, you can simply access specialist underwriters here to insure your parts are covered. Flycovr has arranged insurance for multiple engines across the globe for a number of airlines.
Detail of the cover
What Are the Policy Exclusions?
Flycovr only partner with insurance providers that are entirely transparent from the outset.
The list of excluded commodities are:
- Cash & Financial Instruments
- Temperature Controlled Products
- Narcotics/narcotic based substances including but not limited to Marijuana, CBD, THC except for CBD Products shipped domestically in the US that do not exceed 0.3 percentage THC.
- Luxury Goods
- Furs, precious stones, high-value antiques and art.
- Tech Goods
- Mobile telephones.
- Live Animals / Plants
- Living creatures and life forms of any type (other than plants and flowers for retail distribution and animals not intended for consumption).
- Other
- Satellites, nuclear fuel, explosives, firearms, ammunition.
Flycovr
What Is an Example of Stock Throughput Insurance?
A stock throughput policy (STP) is designed to cover goods against damage or loss at all stages of the supply chain – from raw materials in warehouse storage through to processing and eventual delivery to their destination.
Here are some examples:
Components manufacturer
A manufacturer of components wanting to ensure their cargo from the source of production, storage, transportation, and delivery.
Retailer business
A retailer who wants to cover their stock stored at multiple distribution warehouses and then transported to various stores.
Importer/exporter
An importer/exporter with large shipments of goods that are transported via road, sea, air who want to ensure their shipments are covered door-to-door with a single easy to manage policy.
Having an STP policy has particular significance for businesses with a complex supply chain who ship a continuous flow of goods to various destinations in a variety of ways.
Click the image below to enlarge:
Risk Appetite
For any components across all ATA Chapters:
Preferred commodities and aircraft parts include containerized cargoes, manufactured products, and equipment
Coverage for select hard-to-place risks available
Risks typically outside the Loadsure appetite include inventory and storage, cash & financial instruments, bulk shipments, and luxury goods
We can arrange cover for any components across all ATA Chapters and commodity codes
Case study
An Example of a Policy in Use
FiveStar Engineering is a supplier with an intricate supply chain. They need to ship multiple valuable aircraft parts internationally throughout the year. Although much of the cargo is lightweight, it includes critically important components with a high-value.
The journey for the cargo includes multiple transits via road, sea and air, as well as *warehousing at several points, including third-party storage. .
In addition, the shipments may encounter risk of bad weather, such as tropical storms, and/or civil unrest or strike action as part of their extensive journey to their final destination.
Attempting to use a combination of typical marine insurance, air freight insurance and property insurance proves to be very complicated and costly, and still leaves FiveStar Engineering exposed to potential unacceptable risk.
The solution:
A stock throughput insurance policy through Flycovr:
FiveStar Engineering gets a quick and easy quote and the resulting insurance covers their cargo from door-to-door, including ATA Chapter coverage, all with one STP policy. What could be simpler?
*NOTE: The policy can cover up to 10 warehouse locations for $10m per site. Further sites can be covered if required. Please contact us for more details
Quotes in less than 5 minutes
Up to $10M per location and for goods in transit
Total annual supply chain protection
Automated claims handling
Product comparison
Stock Throughput Insurance vs Cargo Insurance
When it comes to insurance there are many different ‘types’ and often the terms are used interchangeably, further confusing matters. Some other terms can include:
Marine stock throughput insurance
Cargo stock throughput insurance
Cargo insurance
Freight insurance
Property insurance
And many, many more.
Generally speaking, marine cargo insurance is designed to protect goods during transit, whereas property insurance is typically used for goods stored in a building such as a warehouse.
While *cargo insurance is typically focused on insuring goods in transit, stock throughput insurance is far more comprehensive and extensive in its coverage. STP covers your goods from storage, transportation, loading/unloading, and distribution throughout the complete supply chain – all under one policy.
*NOTE: Cargo Insurance through Flycovr is far from typical, for more information see these cargo insurance products.
Policy details
What Level of Cover Does Stock Throughput Insurance Give You?
STP insurance accessed through Flycovr provides you with the following:
Comprehensive All-Risk insurance
Door-to-door coverage
Through storage, processing, loading/off-loading and in transportation
Multiple transits throughout the supply chain
Up to $10M coverage per conveyance, both international and domestic
Up to $10M in limits for storage (for named locations)
Catastrophic perils coverage
Insurance against loss or damage
While goods are in storage, loading and unloading, and transit all the way to delivery
Protection even against
Civil unrest, war, terrorism, strikes and other civil disturbances, bad weather conditions, floods and fire damage, loading damage, theft, damage caused by roof collapse, “acts of God”, and other occurrences not typically covered by other insurance.
STP includes a worldwide territory offering
Subject to standard sanctions and exclusions limitation clause.
Insurance coverage for hard-to-place risks is available
Also available is a cover for parts across all ATA Chapters and commodity codes
Contact us for more information on how to tailor your policy to your unique circumstances:
Policy details
What Isn’t Covered by Stock Throughput Insurance?
Some things usually outside of risk appetite include:
Living creatures and plants
Live animals are not covered. Likewise, any other life forms – with the exception of flowers and plants intended for retail purposes
Biological materials
This includes life science materials, medical and scientific materials such as blood, plasma, human tissue, reproductive materials, any human substances used in scientific/medical research, etc.
Drugs
Drugs and narcotics of all descriptions are excluded, with the exception of over-the-counter pharmaceuticals that have been approved by the FDA.
Financial instruments
This includes cash, bonds, credit and debit cards, phone cards, gold and other bullion, securities, stamps, and various negotiable documents.
Luxury goods
Precious metals, gemstones, jewellery, watches, furs, art, antiques, perfume, and tech goods such as mobile phones, etc.
Other
The above is a non-exhaustive list. Other items not covered include: explosives, weapons, ammunition, satelites, and more.
If you are not sure if your goods would be covered you can check with us or see a full list here.
Flycovr
Key Benefits
- Real-time visibility into account performance
- Competitive premiums are driven by a dynamic rating model
- Accelerated settlements through an end-to-end automated claims process
- Flexible payment terms—annual, quarterly, or monthly
- Loss control services available
- Extra capacity for the real property structure
- Better use of property market capacity.
- Providing additional capacity for catastrophe perils.
- Lower deductibles and minimal % of value deductible.
- Flexible product, utilised on a standalone basis, a dual cover basis, an excess basis or as reinsurance support.
- Eliminates the need to purchase a separate, standalone cargo policy.
Policy details
Stock Throughput Insurance in the Aviation Industry
STP is especially beneficial for manufacturers, distributors, and any businesses which import or export goods and have logistics that are somewhat involved and complex.
Does this describe you?
You face significant inventory risk
You want to eliminate limited protection
Basic coverage is insufficient for your needs
Your supply chain is complex
You export internationally and domestically
Your goods travel via various mediums; air, sea, road
Your merchandise is warehoused, perhaps at multiple points throughout their journey
You want to simplify your insurance yet have full ‘cradle-to-grave’ coverage
You need your merchandise to be covered across all ATA Chapters
An STP policy provides you with complete annual supply chain protection from start to finish of your cargo’s journey.
Policy details
What Do You Get With Flycovr Stock Throughput Insurance?
In short, you get comprehensive cover, made simple. This means:
All-Risk cover
Coverage for goods while they are being transported, or while being stored at named facilities.
Door-to door coverage
Protection across your entire supply chain, whether in transit or storage.
Protection against hard-to-insure events
Including flood, fire, theft, loading damage, roof collapse, ‘acts of God’ and more.
Up to $10 million coverage in international conveyance.
And up to $5 in domestic conveyance limits.
Up to $10 million coverage for your named storage facilities.
This also includes cover for ‘catastrophic perils’.
Worldwide territory coverage
Subject to standard exclusions and sanctions.
One Simple Policy for Complete Supply Chain Coverage
Underwritten by Lloyds of London
Policy details
Other important benefits to you include:
No minimum premium
Your STP insurance can be tailored to your exact needs, making it extremely cost-effective, efficient and effective.
Pay as you go
Only pay for exactly the coverage you need
Extremely fast quotes and claims
Why waste your valuable time and make things complicated? We utilize a revolutionary, algorithm-fed, dynamic pricing model. This means you can get an affordable quote in under 5 minutes. Straightforward and simple.
Our issuance and intake of policy documentation is digitalized. An automated claims handling process means claims are accelerated, with full shipment value typically paid out within 72 hours.
Flexible payments
Payment terms are very flexible, allowing you to make monthly, quarterly, or annual payments.
Summary
Stock throughput insurance is an effective and intelligent solution for any business wanting to insure their movable inventory at all stages of the supply chain from initiation through to delivery and at every point in between.
Typically and traditionally, goods being transported via sea would be handled by freight forwarders insurance, and then other transit insurance would be required inside a country’s borders. Further insurance would be required to cover goods in warehouse storage.
One of the highest risks, however, occurs while cargo is being loaded or unloaded, or while being moved from the warehouse to transit. If your goods are damaged or lost at this stage, this can result in the various insurers trying to prove or avoid responsibility. This inevitably causes delays in the claims process.
Having STP insurance resolves this problem by ensuring that your cargo is covered at all points of its journey from start to finish.
Stock throughput insurance is very flexible and can be tailored to suit your unique insurance requirements. Contact us for more information and we’ll be happy to help.
01243 200 237
