Overview :
The shopkeeper insurance policy is specifically designed to cover all the risks and contingencies faced by small or medium-sized shop owners. It provides protection for the property and the interests of the insured (and their partners) in the business venture.
The sum insured depends on the value of your shop and the value of the contents of the shop. The value of the shop is calculated on the basis of the estimated cost of rebuilding it completely. The contents of the shop are assessed according to their value at the time of purchasing the shop insurance policy. The valuation would also include electrical and mechanical appliances in the shop.
Shopkeepers Insurance Coverage
There are several risks covered under this policy such as fire and allied perils, risk or liability under Workmen's Compensation Act, as well as additional risk covers.
Shopkeepers Insurance: Riders
There are several riders that can be coupled with a Shopkeeper's insurance policy. Here's the list:
Shopkeepers Insurance Exclusion: Under Insurance:
If the actual value of the insured property at the time of loss under the fire is found to be greater than the sum insured chosen by you, the claim will be proportionally reduced.
Willful destruction of property by the following:
Shopkeepers Insurance: Claims
To file a claim for your Shopkeeper's Policy', you need to calll the insurer's helpline. Once you submit the relevant documents, if the claim is addmissible- you will receive a payment cheque.
Shopkeepers Insurance: Provider
If you own a shop, you will obviously be concerned about its safety as well as the merchandise stored in it. After all, it is your livelihood we are talking about here. You can rest a lot easier if you avail of the shopkeepers. insurance facility. Only, ensure that you are up to speed on the basics of shopkeepers. insurance before you do so.
You have the grocery store with a bakery counter, the vegetable shop that has a non-veg counter, or the paan-shop that doubles up as a mobile-recharge center. Versatility being the name of the game, it is only natural that insurers have come up with a range of covers for the discerning shopowner. Go on, check them out. Don't take our word for it. We only make it slightly easier for you to do so by providing a list of all the insurers and their shopkeeper insurance plans.