Know More about Shop owner Insurance
Shop owner Insurance
Shop owner insurance is a known as Trade protector insurance, Merchant cover, or shopkeeper insurance. It is a comprehensive policy which is used for provide coverage to small and medium shop owners against any damage or loss caused to the shop or its content due to unfortunate events like fire, flood, earthquake, riot, burglary, etc. It also provide compensation of liability claims and accidental benefits.
Add On Covers:-
- Earthquake
- Terrorism
- Escalation
Coverages Under The Policy:
- Loss to building and its contents as per Standard Fire & Special Perils Policy including Earthquake Risk
- Burglary and other Perils:- Loss or damage caused by fire or burglary to building and its contents
- Money and Fidelity Guarantee: t covers financial losses due to fraud or dishonest act of salaried employees.
- Personal Accident: Bodily injuries because of accident resulting in death or permanent total disability.
- 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.
- Fixed Glass and Sanitary Fittings: – This covers loss or damage to any fixed plain glass caused by an accident, external and visible means
- 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 and many more.
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
- Loss or damage to bonds, securities, precious jewellery, cash, livestock and valuables
- Damage caused due to war or war like operations
- Loss due to wear and tear of electronic equipment
- 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.
- Salesman and commission agents under fidelity guarantee.
- Liability to family members and employees.
- Absence of immediate notice to the Police authorities and to the Company, along with FIR
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Note: – Refer to the policy documents for further details on the list of inclusions and exclusions.
