Insurance stocks of goods
Insurance stocks of goods.
Insurance stocks on the stock, in contrast to fixed assets (buildings, etc.) value is changed, even sometimes during the day and the cost of fixed assets remained unchanged during the year to the next balance sheet when those funds are re-evaluating for depreciation. For insurance inventory in stock, used three methods for determining the sum insured:
1. On average balance.
Determine the maximum limit on the value of stocks, as well as the estimated value of the expected average balance during the year, usually 30-40% of the maximum balance. At the beginning of an annual period of insurance will be charged the annual premium to the anticipated average balance, and at the end of this period is calculated the actual value of the average balance and recalculate premiums. To calculate the actual average balance of the insured must report the actual residual value of stock on hand at the beginning of each month during the annual period of insurance. Then the sum of the twelve indicators divided by 12, the values will differ from the expected, if it is greater then the policyholder must pay the premium with the difference between the actual and expected average balance, if it is less than the insurer must return the prize with a difference. This method is more accurate insurer does not pay too much, but the disadvantage is the fact that the policyholder shall submit a monthly report balances of goods in stock, and lead recalculation. This method is justified for large amounts of stocks and their significant fluctuations.
2. According to the maximum residue.
In this case, is determined only by the maximum residue with a monthly premium, it will be lower than in the case of number 1, because maximum is reached is not always. This is convenient for small stocks or for stocks, where the difference between the maximum and minimum of 2-3 times.
3. For the first risk.
This method means that the cost of inventory is not determined, and the possible value of the loss – management responsibility. The award in this case is charged not with this value, and assigned to a fixed amount. This method is suitable for large stocks held in several areas where it is clear that when the insurance case, complete destruction of these stocks can not occur. It can happen only partial loss, which is projected to limit liability.
When insuring a stock of goods in the contract may be entered on the condition that the policyholder a monthly basis to inform the insurer the amount of its stock at a specified date, this so-called “insurance on a set date.” If the value of stock at a specified date exceeds the maximum, then this is the reason for increasing the sum insured under the contract. The insurer within two weeks of taking the decision to increase the sum insured and notifies the reputation of the insured. In this case, the policyholder must pay an additional premium for the period remaining until the end of the insurance contract, based on the difference between the new sum insured ½ and ½ old sum insured. The final payment of the insurance premium is at the end of the insurance year. if the policyholder agrees to increase the sum insured, then the excess is accepted as the size nedostrahovaniya under the contract.
Visit these: