Norwest NSW
Stock Insurance
Stock is your cash sitting on a shelf. Retailers, wholesalers, manufacturers and distributors can have hundreds of thousands of dollars tied up in it. Fire, flood, theft or a failed fridge, and it's gone.
Stock insurance covers the goods you hold for sale, plus raw materials and work in progress.
What it can cover
- Finished goods and goods for sale
- Raw materials and work in progress
- Packaging
- Fire, storm, water damage and theft
- Stock at other locations or in storage, if declared
- Refrigerated stock, with spoilage cover
Where people get caught
Seasonal peaks
The sum insured is set for an average month, then Christmas hits.
Valuation basis
Cost price, replacement or selling price. They give very different payouts.
Stock off site
Storage units, vehicles and customer sites are often excluded unless declared.
Theft conditions
Alarms, locks and security may be required.
Case study
An example
A homewares wholesaler holds $400,000 of stock in October. Heavy rain floods the warehouse in the week before Christmas, when stock has risen to $650,000. If the sum insured was set at $400,000, the shortfall is the owner's. A peak-season extension or a higher declared value would have helped.
Illustrative example only. Cover depends on your policy wording.
Contact us
To quote, tell us:
We're based at Suite 2.02, 2-8 Brookhollow Ave, Norwest NSW. Call 02 8660 2305 or email admin@idealbrokers.com.au.
Ideal Insurance Brokers, Norwest NSW 2153. Ideal Brokers Pty Ltd (CAR No. 001262504 | ABN 65 623 205 952) is a Corporate Authorised Representative of Metrix Connect Pty Ltd ACN 635 286 136 as the trustee for the Metrix Connect Hybrid Trust ABN 55 742 327 931 | AFSL No. 525491. This page contains general information only and does not take into account your objectives, financial situation or needs. Read the Product Disclosure Statement before buying.
Stock insurance FAQs
Use your records and consider your busiest period. We can help.
Not normally. See our goods in transit page at /goods-in-transit-insurance/.
Some policies ask for regular declarations. We'll explain how yours works.