Shop Package Insurance
This is a package policy specially designed for small shopkeepers. It is a single policy combining the various insurance requirements of shopkeepers.
The policy comprises of following sections :
Building & Contents
Burglary & Housebreaking
Covers contents of insured shop premises(excluding money and valuables) against loss or damage by burglary and/or housebreaking.
Covers loss of money in transit, loss of money/valuables whilst contained in a locked safe, loss of money contained in cashier's till and/or counter by burglary/housebreaking.
Pedal - Cycles
Covers loss or damage to pedal cycles by :
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.
Covers loss of or damage to fixed plate glass in insured's shop by accidental means.
Neon Sign/Glow Sign
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.
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.
Covers direct pecuniary loss suffered by the insured due to fraud or dishonesty committed by any of insured's salaried employees.
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.
This policy is meant for shops only. Mere registration under Shops and Establishment Act does not entitle the premises to be insured under this policy. Hence Restaurants and Tea /Coffee shops cannot be insured under this policy. However,shops selling goods where minor repair work is carried on incidental to the main business of selling, can take this policy.
How to claim?
In case of any incident giving rise to a claim under this policy, please take the following steps: