Shop keeping is an economic activity, which is pursued with the goal of earning maximum profits within the limits of Government Rules & Regulations as well as social morales. Shops are sources of revenue for many in India. It not only provides income to the shopkeepers, but is also considered to be an asset. It’s very essential to secure this means of livelihood.
To ensure that one can focus on their shop and business, it is necessary that the shopkeeper’s mind should be free from other worries, which are not related to business such as accidents or other similar hassles, which could hamper the business activity in a drastic way. The shopkeeper insurance policy is designed to cover all the risks faced by small or medium-sized shop owners. It provides protection for the property and the interests of the insured in the business venture.
Shopkeeper Insurance Policy Covers
Shopkeeper Insurance policies covers many hazards like fire, house breaking, loss of money, personal accident and so on.
This insurance covers shops and its contents against loss or damage caused by fire or similar accidents like
- Fire, lightning, explosion of gas in domestic appliances
- Riot, strike, malicious damage, terrorist act
- Earthquake-Fire and/or shock, subsidence and landslide.
- Impact damage by rail/road vehicle not belonging to the insured.
Loss of money or valuables while it is contained in a locked safe by burglary is also insured by this policy.
Neon Sign/Glow Sign
The policy 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
Burglary & Housebreaking
Insured is protected against loss or damage by burglary or housebreaking.
Covers insured and spouse and/or his children, named in the policy against bodily injury caused solely and directly by accident and resulting in death or permanent total or partial disablement or temporary total disablement.
Electrical and Mechanical Appliances
The policy covers the loss or damage of insured appliances.
There are certain exclusions from this policy. Some of them are: Theft from unattended vehicle, loss due to robbery, theft, fraud, dishonesty or conspiracy by any of the employees or agents, damage due to wear and tear, erosion, corrosion, or any other gradual deterioration due to atmospheric conditions, nuclear activity, pollution and so on.
Policy details mentioned are indicative. It is suggested that you read the policy documents carefully before signing on the dotted line.