Shop Insurance

A shop insurance policy is specifically designed for small and medium-sized shop owners to provide cover against damage or loss of the structure of the shop and its contents. Shop insurance covers financial loss incurred due to unfortunate events like fire, flood, earthquake, riot, and burglary of cash placed in a safe place or while it is in transit from shop to bank or vice-versa.

Key Features & Benefits of Shop Insurance

Protection of the Property

Shop insurance covers any loss or damage caused to the insured property due to fire, earthquake, explosion, natural perils, and riots. Apart from the shop it also covers its contents. Moreover, damage incurred due to housebreaking and burglary is also covered. Breakdown of electrical, mechanical, and electronic equipment are covered as well.

Liability Coverage

Some policies under this plan also cover the legal liabilities towards a third-party. Additionally, third-party bodily injuries and property damage is also covered. Worker compensation as per act 1923 and fatal accident act 1855 is also incorporated in some Shop insurance plans.

Money Protection

Money protection is the main advantage of having shop insurance. The insured person can have peace of mind in case your money is lost between shop and bank premises due to robbery, or any calamity. This is because money in safe and money in counter both are covered in the policy.

Cost-Effective Plans

Most of the Shop insurance plans are cost-effective and provide comprehensive coverage at an affordable premium.

FAQ's

Shop insurance is designed to protect your business from the key risks. As one’s business is always exposed to certain risks such as potential liabilities towards property and people, items within the building, the income etc. All these are covered under this policy, where the insured is compensated for the loss.

Shop insurance is designed to protect your business from the key risks. As one’s business is always exposed to certain risks such as potential liabilities towards property and people, items within the building, the income etc. All these are covered under this policy, where the insured is compensated for the loss.

If you are a retailer, providing utmost protection to the business, customer and employees are your responsibility. You can’t ignore the risk of damage or theft of stock, along with the other incidents which can impact adversely on your business. That’s why you need shop insurance to ensure the future and finances of your business is well protected.

The level of coverage you need will depend on the insurance needs of yours. That’s why it’s better to analyse the requirement first, then buy.