Shop Insurance
Shop Insurance Benefits
MERCHANT COVER (Shopkeeper) INSURANCE
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 it’s contents and against financial loss incase 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
Benefits of Shop Insurance Policies
Benefits of Shop Insurance Policies
Baggage : Covers loss, destruction or damage to the accompanied personal baggage of the Insured
Public liability : Protects You against your legal liability in respect of accidental bodily injury to third parties and or accidental loss and /or damage to property belonging to third parties
Machinery breakdown : Provides cover for unforeseen and sudden physical damage due to electrical or mechanical breakdown e.g. airconditioners, refrigerators, photocopying machines.
Money in Transit : Covers loss of money belonging to the business of the insured whilst in transit between the business premises and / or premises of insured's bankers and / or locations or specified.
Personal Accident : Cover death / disablity caused to your employees due to sudden, unforseen, uncontrollable and unexpected physical event caused by external, violent and visible means.
SHOP INSURANCE PLAN COVERED & NOT COVERED
SHOP INSURANCE PLAN COVERED
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Burglary : It covers any loss or damage caused by burglary or attempt of burglary to contents in your shop.
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Fire : It covers loss or damage to buildings and contents due to fire, lightening, strike, riot, storm, cyclone, flood etc.
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Cheque Forgery : Loss occurred due to forgery or material alteration of cheques, drafts or any negotiable instruments issued by you or in your favor.
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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.
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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.
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Medical Expenses To Insured : LThis 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.
SHOP INSURANCE PLAN NOT COVERED
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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.
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To jewelry, gold ornaments, precious stones and silver articles of any description.
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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.
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Involvement of the Insured’s and/or Insured’s staff directly / indirectly.
