Secure your Premises with a Fire & Burglary Policy

Under a partial loss policy, the portion of the stock or property destroyed is reimbursed after the incurred loss/occurrence of the insured event.

• If your insured property is a partial loss, then we will reimburse you for the cost of repairs to the extent required to bring that property to a condition the same as, but not superior, better or more extensive than its condition if it were new on the date, it was damaged.
• In case of a partial loss on stock, we will reimburse you to the extent of the loss incurred.

As the name suggests, a total loss policy covers the full value of the insured property lost in a situation where it is completely destroyed, lost, or damaged beyond retrieval or repair; or the cost of repairing it is more than the sum insured of that item. Here are the losses covered under this policy under a total loss:

For Building or Plant and Machinery or Furniture, Fixture, Fittings: In cases of a total loss, we will pay for the total value of the building, plant and machinery or furniture, fixture, and fittings.
If required, we will also pay for the reconstruction of a new building on the same site or another site.
In case of reconstruction on another site, we will only pay up to the amount required to reconstruct the property on the same site. Any additional expenses incurred due to site changes must be borne by you.

For Stock: For total losses in stock, we will pay you,

• The landed cost at your premises for stock of raw materials.
• The total manufacturing cost for stock of finished goods.
• The input value of stock in process at the time of loss.
• In Case of Goods Sold But Not Dispatched: The claim amount will be paid on the basis of the contract price of goods if the sale is cancelled wholly or to the extent of loss or damage caused by an insured event.

This is a fire insurance policy with a burglary cover. It offers coverage for loss or damage to the contents caused by fire and allied perils and burglary/housebreaking or hold-up. Under this combination, you can expect coverage for Damages to the contents and/or premises as described in the policy terms.

Money here implies cash, coins, bank and currency notes, including foreign currency, bank drafts, cheques, money orders, stock, share certificates, and other assets of monetary value. Under this combination, we offer covers for three types of money insurance:

Money in Safe

• Loss of money belonging to the business of the insured (you) within the insured premises (as stated under your policy terms) caused by burglary, robbery, housebreaking, theft, or hold-up.
• Loss of money belonging to the business of the insured (you), while kept at the owner/ director/ proprietor's permanent place of residence, which lies within the geographical area, necessitated only by bank/ government holiday.
• This money would otherwise be kept in any safe, strong room or cash box securing money within the insured premises. This cover is valid for up to 24 hours from the time of withdrawal from the bank.
• Reimbursements for repairs costs for safes, strong rooms, or cash boxes securing the money damaged during a covered incident up to 5% of the admissible claim.

Money in Transit

We will cover losses of money belonging to the business of the insured (you) caused by burglary, robbery, theft, or any other cause while the money is in transit between either:

• The named business premises of the insured and/or,
• The named business premises of the insured and the premises of the insured’s bankers and/or,
• The locations or situations specified in the policy’s terms.

Money at Hand/Till/Counter

• Loss of money in the till and/or counter incurred during hold-up or robbery during business hours at the insured premises.
• Repair costs for the till and/or counter securing the money, which is payable up to 5% of an admissible claim subject to liability being admitted by the insurance company.

In addition to Fire and Burglary cover, Public Liability cover is an important cover that if opted, will ensure that we will indemnify you against your legal liability to pay compensation including Claimant’s costs, fees, and expenses anywhere in India, in accordance with Indian Law and as per limits of liability opted under this cover.
This cover applies to claims arising out of accidents occurring in your insured premises during the period of insurance.
You will be indemnified for liability arising out of injury and / or Damage but only against claims arising out of or in connection with the business specified in the Policy.