It is a comprehensive policy which is generally used for covering shops in order to cover the loss or damage to both the structure and its contents and against financial loss in case of an unfortunate incident of fire, earthquake, flood, riot, fraud and burglary of cash in safe place and while in transit from bank to shop vice versa etc. It also provide compensation of liability claims and accidental benefits
COVERAGES UNDER THE POLICY:
- Fire: It covers loss or damage to buildings and contents due to fire, lightening, strike, riot, storm, cyclone, flood etc.
- Burglary: It covers any loss or damage caused by burglary or attempt of burglary to contents in your shop
- Money(Safe & Transit): It covers loss of money due to burglary of cash in safe place or in transit from shop to bank/atm and bank to shop. The premium is calculated from Per Sending Limit as defined by the insured.
- Fidelity It covers financial losses due to fraud or dishonest act of salaried employees.
- Cheque ForgeryLoss occurred due to forgery or material alteration of cheques, drafts or any negotiable instruments issued by you or in your favor
- Personal Accident: Bodily injuries because of accident resulting in death or permanent total disability. It also provides for ambulance charges uptoRs 2000 and in the event of death for carriage of dead body
- Public liability This cover provides for legal liability on behalf of the proposer for accidental death or bodily injury to third party excluding resident employee or domestic staff as well as accidental damage to third party property.
- Glass Breakage This covers loss or damage to any fixed plain glass caused by an accident, external and visible means
- NEON SIGN Neon or glow signs displayed at your shop premises are covered against damage caused by fire, accident, riot & flood
- Medical Expenses To Insured: This covers provides benefit for medical expenses, to extent of sum insured under this cover, incurred by the proposer for the hospital treatment against any accident
- Employer’s Liability: Covers legal liability to your employees
- Tenants Legal Liability: It provides for legal liability imposed on you by the property owner on account of damage to property by fire, earthquake, flood riots, etc
- Marine Transit of Goods: The losses or damage caused to the goods during movement from godown to shop
ADD ON COVERS:
- Earthquake
- Terrorism
- Escalation
EXCLUSIONS IN POLICY:
- In case the actual value of the sum insured is less when compared to the loss occurred under fire then claim would be reduced in the same proportion
- Involvement of the Insured’s and/or Insured’s staff directly / indirectly
- livestock, motor vehicles, pedal cycles, money, securities for money, stamp, bullion, deeds, bonds, bills of exchange, promissory notes, stock or share certificates, business books, manuscripts, documents of any kind, ATM debit or credit cards (unless previously specifically declared to, and accepted by, the Company);
- Insured’s premises is unoccupied, for a period of more than 30 days consecutively To any property illegally acquired, kept, stored , or property subject to forfeiture in any manner whatsoever.
- To jewelry, gold ornaments, precious stones and silver articles of any description
- second or subsequent transit in any one day.
- where the absence of immediate notice to the Police authorities and to the Company, along with FIR