A cold storage facility that has insured its freezing equipment before the insurance company based on machinery damage insurance, could obtain goods deterioration insurance too. If one of the freezing equipment becomes damaged and due to increased temperature causes to deteriorate materials stored in this place, the resulting damages could be compensated through deterioration of stock in cold storage insurance.
The goal of presenting deterioration of stock insurance is to meet the needs of those people who have stored their commodities in cold storages and they seek an insurance cover against deterioration of their goods due to breakdown of the cooling machinery. By deterioration of stock insurance, Parsian Insurance Company compensates the damages on the retainable goods at the cold storage. It is worth mentioning that the purchase of machinery breakdown insurance is a pre-requisite for purchasing deterioration of stock insurance.