What happens if your company’s stock deteriorates, for example refrigerated foodstuffs? You lose money, your reputation suffers, you might even lose customers. Stock deterioration insurance protects your finances against the cost of unforeseen damage to refrigerated goods owned by and in the care of your business, because of temperature changes in refrigeration equipment.
What’s covered?
Power supply failure, impact damage, and simple mechanical or electronic breakdown are all covered. This policy protects your financial interests in three key ways:
- Cover for damage to goods not held in the refrigerator, that would have been kept cold if the accident hadn’t happened
- Cover for the action of the refrigerant or any stray refrigerant fumes that have leached out of the system and escaped
- Cover for the accidental failure of public electricity supplies