Insurances for Shops & Stores Industry

This is a package policy specially designed for small shopkeepers. It is a single policy combining the various insurance requirements of shopkeepers as per the below sections:

  • Section I - Building & Contents: Covers shop building and/or contents therein against loss or damage caused by Fire & Allied perils i.e.
    • Fire, lightning, explosion of gas in domestic appliances
    • Bursting and overflowing of water tanks, apparatus or pipes
    • Aircraft or articles dropped therefrom
    • Riot, strike, malicious damage, terrorist act
    • Earthquake-Fire and/or shock, subsidence and landslide (including rockslide)
    • Flood, Inundation, Storm, Tempest, Typhoon, Hurricane, Tornado or Cyclone
    • Impact damage by rail/road vehicle not belonging to the insured
  • Section II - Burglary & Housebreaking: Covers contents of insured shop premises (excluding money and valuables) against loss or damage by burglary and/or housebreaking.
  • Section III - Money Insurance: Covers loss of money in transit, loss of money/valuables whilst contained in a locked safe, loss of money contained in cashiers till and/or counter by burglary/housebreaking.
  • Section IV - Pedal: Cycles Covers loss/damage to pedal cycles belonging to insured by:
    • Fire, lightning or external explosion
    • Riot, strike, malicious or terrorist act
    • Burglary and/or Housebreaking or theft
    • Accidental external means
    • Flood, cyclone, storm, tempest, and other similar convulsions of nature and atmospheric disturbance
    • Earthquake Fire and shock
    This section also covers legal liability of insured for death/injury to third parties or damage to their property arising out of use of the insured pedal cycles.
  • Section V - Plate Glass: Covers loss of or damage to fixed plate glass in insured's shop by accidental means.
  • Section VI - Neon Sign/Glow Sign: Covers loss of or damage to neon sign/ glow sign by:
    • Accidental external means
    • Fire, lightning or external explosion or theft
    • Riot, strike, malicious or terrorist act
    • Flood, inundation, storm, tempest, typhoon, hurricane, tornado, cyclone
  • Section VII - Baggage: Covers loss or damage to accompanied personal baggage of insured or baggage in connection with his trade, whilst anywhere in India, by accident or misfortune.
  • Section VIII - Personal Accident: Covers insured and spouse and/or his children, named in the schedule and aged between 5&70 years, against bodily injury caused solely and directly by accident and resulting in death or permanent total or partial disablement or temporary total disablement within 12 calendar months of such injury.
  • Section IX - Fidelity Guarantee: Covers direct pecuniary loss suffered by the insured due to fraud or dishonesty committed by any of insured's salaried employees.
  • Section X - Public Liability: Covers Legal liability in respect of accidental death or bodily injury to a third party or accidental damage to their property during performance of any act in connection with insured's business. Compensation to insured's employees under Workmen's Compensation Act or Common Law.
  • Section XI - Loss of Profit: Covers loss of profit due to interruption of business consequent upon loss or damage sustained by property insured under Section I of the policy due to insured perils. It is necessary to opt for a minimum of 4 sections for this policy to be issued of which Sections I&II are compulsory.