Deterioration of Stocks (Potatoes)

• Declaration Policy for 12 Months
• Accidental failure of Public electricity Supply

As per Policy and Nature of loss

The sum insured under this policy shall be:

• For Annual Policies :- The value of the stocks obtained by multiplying the full storage capacity of the Cold storage by the average price of the Potatoes at the time of loading as determined by the insured with the concurrence of the Company at the time this Insurance has come into effect. This price shall include storage charges for the whole season.
• For Policies Issued for periods less than 12 months :- Value of stocks obtained by multiplying the full storage capacity of the maximum number of chambers that are likely to be used during the entire period by the average price of the potatoes at the time of loading as determined by the Insured with the concurrence of the Company at the time this Insurance has come into effect. The price shall include storage charges for the whole season.
  Note:- For this purpose storage capacity of the cold storage shall be determined on the basis that ten quintals of potatoes can be stored for 100 cubic feet of space inside the chamber.