Is this an insurance policy?
No. Inventory Protection is an optional coverage service provided by Portless under updated terms and conditions. It increases the compensation Portless pays in the event of covered incidents such as fire, flood, or other qualifying damage, beyond the standard guarantees.
How are weekly premiums calculated?
Weekly premiums are calculated using the following formula:
Current COGS value × 1.2% ÷ 52 weeks
How does compensation work?
If a covered event occurs, Portless will notify affected merchants after claims have been reviewed and processed.
I can’t sign up as the signup option is grayed out.
Only users with the business owner role can sign up for Inventory Protection and sign the agreement. The service is visible to all users, but enrollment is limited to company owners.
How do I sign up?
The business owner can sign up for Inventory Protection and manage the subscription directly through the Admin Portal.
Need help?
Reach out to your Account Manager, who will walk you through and give you guidance along the way.