This covers contents or stock spread over more than one set of premises, or over more than one building. This is also available for contractors who want to cover all similar contracts undertaken in a year, with the premium adjustable at year-end on declaration of the actual contract values.
The insurance company first grants the insured a large initial sum-insured. Then each time the shipment is sent, the insured declares them to the insurer. The value of the shipment is then deducted from the outstanding sum insured. But it is more common nowadays to use an 'open' policy.
an insurance policy covering loss of movable property (e.g. jewelry) regardless of its location