The stocks which are subject to market fluctuations could be covered under a declaration Policy. Under this Policy the insured gets full protection but has to pay premium on the average value of the stocks held during the period of Insurance. The minimum sum insured shall be Rs. 1 crore in one or more locations and the sum insured shall not be less than Rs. 25 lacs in at least of these locations. Necessary that the declared values should approximate to this figure at some time during the policy year. The insured will declare periodically, say daily, weekly or monthly the average of values at risk during the said period. If declarations are not received within the specified period, the full sum insured under the policy shall be deemed to have been declared. Reduction in sum insured not to be allowed under any circumstances. Refund of premium on adjustment based on the declarations/cancellations shall not exceed 50% of the total premium. The basis of value for declaration shall be the market value anterior to the loss. Policy is not for insurance required for a short period, stocks undergoing process or stocks at Railway sliding. Subject to Average Clause as applicable.