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Shop Insurance

You have been an active participant in the booming Indian retail sector. With your sheer hard work you have built this business that is reaping benefits for you in the consumption era. While you may love what you have created, it is important to ask yourself one question: "Have I ever thought of insuring it against the threats that may impact my earning?"

Tata AIG General Insurance Company Limited's Shop Insurance, a complete insurance package that has been specially designed keeping in mind the insurance needs of your shop.
 
 

What is included under Tata AIG General Insurance Company Limited Shop   Insurance?

 
It is a one touch insurance solution that covers you and your business from threats like, fire, malicious damage, riot, earthquake, burglary, damage to property etc.
  • Standard Fire and Special Perils: Covers your property against loss or damage due to
    • Fire
    • Lightning Explosion / Implosion
    • Aircraft damage
    • Riot strike and malicious damage
    • Storm, cyclone, typhoon, tempest hurricane, tornado, flood and inundation
    • Impact damage due to rail road vehicle or animal not belonging to insured, Subsidence and landslide including rockslide
    • Bursting and/or overflowing of water tanks apparatus and pipes
    • Missile testing operations
    • Leakage from automatic sprinkler installations &
    • Bush fire
  • Additional in built covers: (At no cost to you)
    • Expense incurred on debris removal up to 1% of claim amount
    • Expense incurred on Architects surveyors and consulting engineers fees up to 3% of claim amount
  • Add ons:
    • Terrorism cover
    • Expense incurred on debris removal in excess of 1% of claim amount
    • Expense incurred on Architects surveyors and consulting engineers fees in excess of 3% of claim amount
    • Additional expense of rent for an alternative accommodation
    • Loss of rent

What are the other covers available with this insurance?

 
The following optional covers are available:
  • Money: Money in Safe, Money in Transit, Money in till / at counter, ATM Withdrawal Protection
  • Plate Glass & Neon Signboard
  • Electronic Equipment
  • Machinery Breakdown
  • Portable Equipment
  • Baggage
  • Personal Accident
  • Fidelity Guarantee of employees
  • Public Liability
  • Workmen's compensation
  • Tenant's Legal Liability
  • Purchase Protection
  • Business Interruption

Who should buy?

 
This policy provides insurance for all kinds of shops:
  • Small and Medium sized Shops including kirana stores
  • Convenience stores
  • Shopping Malls

What is not covered under this Insurance?

 
Some Exclusion besides the deductible for respective sections
  • Standard fire & Special peril: Loss destruction or damage caused by
    • War or war like operations
    • Ionizing radiations, contaminations by radioactive, nuclear fuels & waste
    • Pollution or contaminations losses
    • Losses of earnings or loss of Market
  • Burglary: Loss, Destruction or damage caused by:
    • Fire, explosions
    • Inmates or member of the insured households or business staff
  • Money: Loss caused by
    • Collusion by any employee or agent of the Insured
    • Use of Keys or duplicate keys
    • Use of counterfeit money
  • Plate Glass & Neon Signboard: Loss, destruction, or damage caused by
    • Scratches & Cracks
    • Whilst removing, replacing or in course of alteration
  • Electronic Equipment: Loss, destruction, or damage caused by
    • Wear & Tear
    • Faults or detects existing at the time of commencement of insurance within the knowledge of insured or his representative
  • Machinery Breakdown: Loss, destruction or damage caused by
    • Willful act or neglect or gross negligence
    • Deterioration or wearing away / out by normal use
  • Portable Equipment: Loss, destruction or damage caused by
    • Theft
    • Cracking, scratching
    • Mechanical or electrical derangement/ breakdown
    • Theft from any motor vehicle unless such is a fully enclosed vehicle
  • Baggage: Loss, destruction or damage caused by:
    • Mechanical or electrical derangement / breakdown
    • Loss of money, travel ticket, traveler's cheque
    • Theft of baggage from any motor vehicle unless such is a fully enclosed vehicle
  • Personal Accident: Liability arising out of
    • Intentional self-injury
    • Suicide
    • Injury accident under influence of alcoholic beverage
  • Public Liability: Liability arising out
    • Willful or intentional non-compliance of any statutory provision
    • Fines, penalties, punitive and / or exemplary damages
  • Workmen's compensation: Liability arising out of or related to
    • Employees of the contractor to the insured
    • Occupational disease
    • Medical expense
  • Please refer policy wordings for complete list of detailed exclusions.


Disclaimer: The actual benefits available are as described in the policy, and will be subject to the policy terms, conditions and exclusions. Please seek the advice of your insurance advisor/ contact our branch if you require any further information or clarification.
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