Policy_expert
04-12-2009, 08:33 PM
What is Shopkeeper's Insurance?
It provides protection for the property and interests of the insured and his shop partners.
The policy has 10 sections to provide comprehensive cover:
Section I:
covers building from fire and allied perils as per standard fire policy.
covers contents (excluding money and valuables).
Section II :
overs the contents against the risks of burglary and housebreaking.
Section III:
covers money while in the safe/cupboards/cash box in the shop and also while in transit within 15 miles of the shop.
Section IV :
covers loss or damage to the pedal cycle.
Section V:
covers fixed plate glass against accidental breakage.
Section VI:
covers neon sign/glow signboard.
Section VII:
covers accompanied baggage of the insured or employee carried in connection with trade.
Section VIII:
covers accidental risks to the insured persons.
Section IX:
covers losses due to act of fraud or dishonesty of salaried employees at the insured premises.
Section X:
covers liability to third party persons' or property whilst at insured premises and liability to employees engaged in insured's trade.
Can the proposer opt for extra coverage other than above?
Loss of profits insurance cover can be issued as an extension to this policy due to interruption in business activities following loss covered by this policy.
How the premium is calculated?
Premium rates are fixed section wise and are applied on the limit of sum insured specified for each section.
It provides protection for the property and interests of the insured and his shop partners.
The policy has 10 sections to provide comprehensive cover:
Section I:
covers building from fire and allied perils as per standard fire policy.
covers contents (excluding money and valuables).
Section II :
overs the contents against the risks of burglary and housebreaking.
Section III:
covers money while in the safe/cupboards/cash box in the shop and also while in transit within 15 miles of the shop.
Section IV :
covers loss or damage to the pedal cycle.
Section V:
covers fixed plate glass against accidental breakage.
Section VI:
covers neon sign/glow signboard.
Section VII:
covers accompanied baggage of the insured or employee carried in connection with trade.
Section VIII:
covers accidental risks to the insured persons.
Section IX:
covers losses due to act of fraud or dishonesty of salaried employees at the insured premises.
Section X:
covers liability to third party persons' or property whilst at insured premises and liability to employees engaged in insured's trade.
Can the proposer opt for extra coverage other than above?
Loss of profits insurance cover can be issued as an extension to this policy due to interruption in business activities following loss covered by this policy.
How the premium is calculated?
Premium rates are fixed section wise and are applied on the limit of sum insured specified for each section.