Temporary Removal of Stock Clause Vs Floater Policy under Fire Insurance
It is practiced followed by all insured that if the stock is removed temporarily for the fabrication from the insured premises, such stock is covered under the floater stock policy where the addresses of all the locations are to be specified is taken where the locations are to be specified. There is an “add on cover” namely “ Temporary Removal of Stock clause” wherein the stock up to 10% can be removed from the insured premises without disclosing the addresses of the fabricators subject to payment of additional premium of 10% of the sum insured. The pro-rata condition of average will also be applicable.