Business Suraksha Insurance

Scope of cover

This policy is applicable to land-based properties. Our policy is intended to cover unforeseen events like fire, earthquake, breakdown, burglary, etc. It does not cover wear and tear and damage which happens gradually over a period of time which would normally be described as “maintenance”.
We offer Business Suraksha policy to

• Shopkeepers
• Office
• Educational Institutions
• Hotels & Restaurants
• Housing Societies

Benefits

1. Fire and Special Perils –Building and Contents:
This section broadly covers the damages caused by following risk,

• Fire ,Lightening, Explosion, Aircraft damage
• Riot/Strike, Malicious damage
• Storm, Cyclone, Flood and Inundation
• Impact Damage, Subsidence and Landslide including Rock slide, Bursting & or overflowing of water tanks, apparatus & pipes
• Earthquake
• Terrorism (Optional)

Also following can be extended to cover the losses consequent to damage / loss by charging an additional premium..

• Rent for Alternate Accommodation.
• Tenant’s Legal Liability (Fire Damage- Building)

Note: Building and Contents value shall be shown separately. Contents sum insured is mandatory. Sum insured value of building; FFF should be on reinstatement basis. Contents (stocks) should be on Market Value basis. Adequacy of sum insured of Building and Contents to be ensured to avoid underinsurance.

2. Burglary and Housebreaking:
This section provides protection against the loss or damage to the contents and / or building of insured premises by Burglary and / or Housebreaking. Contents can be insured on First Loss Limits. Sum Insured value of contents (Stocks) should be on Market Value basis.

3. Electrical and Mechanical Appliances :
This section protects you from accidental mechanical or electrical breakdown of machineries or equipment whilst installed in the Insured Premises. The sum Insured of each equipment should be on Reinstatement Basis.

4. Electronic Appliances:
This section of policy covers the repair or replacement costs of your Electronic Equipment caused by any unforeseen and sudden physical loss. The sum Insured of each equipment should be on Reinstatement Basis.

5. Money Insurance (Money in Transit/ Money in Safe/ Money in Counter):
In business, transferring the money from one place to another often causes anxiety for everyone. This section protects your risks by:

• Money in Transit between the insured premises and specified bank and vice versa.
• Money in Safe.
• Money in Counter.

6. Infidelity / Dishonesty of employee:
Employees are our greatest assets. Yet you face instances where your employees cheat you, this section cover such unusual events. This section covers you against:

• Any direct loss caused by act of fraud committed by any salaried employee in the insured premises.

7. Fixed Plate Glass:
This section covers accidental damage to fixed plate glass, frames, frameworks.

8. Neon Sign / Glow Sign:

• This section covers accidental damage to Neon Sign / Glow Sign by Fire, lightening, external explosion, theft, riots, strike & natural calamities, accidental external means.

9. Personal Accident:
This section covers you, in case of Accidental Death, Permanent Total Disablement, and Permanent Partial Disablement. Maximum Limit for shopkeeper owner is Rs.10 Lacs and for each employees Rs 2 Lacs.

10. Workmen Compensation:
This section covers the liability towards your Workmen under the Workmen Compensation Act, Fatal Accidents Act and at Common Law under this section.

11. Public Liability:
This section will compensate you, for the claims arising out of the third parties bodily injury or property damage occurring in your premises. This is in accordance with Indian Law.

12. Pedal Cycle:
This section covers the repair or replacement costs in respect of the Pedal Cycle caused by any unforeseen, accidental and sudden physical loss.

13. Baggage:
This section covers accidental loss caused to your personal baggage while traveling anywhere in India beyond 25 km radius of the insured premises.

14. Business Interruption (Fire Loss of Profit):
This section provides cover against the loss of income following the loss or damage by standard fire and special perils.