Tata AIG: Small Business: Package Insurance

Package Insurance

In today's world business owners work around the clock to keep ahead of competition, win businesses, handle staff and manage administration. They have little time to think about managing all the risks involved.

What does this insurance cover?

This policy offers risk solutions suitable to "All" insurance requirements of most small and medium enterprises:

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

What are the other covers available with this insurance?

You can opt for the following optional covers below:

Burglary: Covers all contents (covered under Standard Fire & Special perils) against Burglary or Housebreaking (theft following upon an actual forcible and violent entry of or exit from the premises), or Holdup including Robbery
Money in Safe: Covers loss of money (cash, bank notes, currency notes / coins, bank drafts, cheques, postal orders, money orders, treasury notes, current postage and revenue stamps) belonging to the business of the insured whilst securely kept in the insured premises and loss or damage to any safe, strong room or cash box securing money
Money in Transit: Covers loss of money belonging to the business of the insured whilst in transit between the business premises and / or premises of insured's bankers and / or locations or specified
Electronic Equipment: Covers electronic equipments (e.g. computers, printers, fax, UPS) e.t.c., against any unforeseen sudden physical loss or damage unless excluded specifically
Portable equipments: Covers portable equipments e.g. laptops e.t.c., against any loss, destruction or damage by Fire, Riots and strikes, Theft by visible physical forcible and violent means and accidental occurrence unless excluded specifically
Machinery breakdown: Provides cover for unforeseen and sudden physical damage due to electrical or mechanical breakdown e.g. airconditioners, refrigerators, photocopying machines
Plate Glass: Covers loss or damage to the Plate glass completely and securely fixed in the insured premises by accidental means
Neon Sign: Covers loss or damage to the neon / glow sign securely fixed in the insured premises by accidental means including Fire, Riot and strikes
Workmen's Compensation: Covers You for your liability under the Workmen's Compensation Act' 1923 and /or Fatal accidents Act'1855 and / or Common law to pay compensation to employees for bodily injury or death caused due to accidents/occupational diseases arising out of and in course of employment
Personal Accident: Cover death / disablity caused to your employees due to sudden, unforseen, uncontrollable and unexpected physical event caused by external, violent and visible means
Public liability: Protects You against your legal liability in respect of accidental bodily injury to third parties and or accidental loss and /or damage to property belonging to third parties
Baggage: Covers loss, destruction or damage to the accompanied personal baggage of the Insured
Fidelity Guarantee: Insures You against direct financial loss due to fraud or dishonesty of the employee.

Who should buy?

This policy provides insurance for a host of risks for:

Industrial Manufacturing Units
Other Trading Units

What is not covered under this Insurance?

Standard fire & Special peril: Loss, destruction or damage caused by
- War or war like operations
- Ionizing radiations, contaminations by radioactive, nuclear fuels or waste
- Pollution or contaminations losses
- Losses of earnings or loss of Marke
Burglary: Loss, Destruction or damage caused by:
- Fire or explosions
- Inmates or member of the insured's household or business staff
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
Portable Equipment: Loss, destruction or damage caused by
- Portable Equipment: Loss, destruction or damage caused by Process of cleaning, restoring, repairing or deterioration arising from wear and tear, moth vermin, insects or any other gradually occurring cause;
- Detention or confiscation by customs or other authorities
- Consequential losses or legal liability of any kind
Machinery Breakdown: Loss, destruction or damage caused by
- Willful act or neglect or gross negligence
- Deterioration or wearing away / out by normal use
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
- o Whilst removing, replacing or in course of alteration
Workmen's compensation: Liability arising out of:
- Willful or intentional non compliance of any statutory provision
- Fines, penalties, punitive and / or exemplary damages
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

Please refer policy wordings for complete list of detailed exclusions.

View and Download Policy Wordings

Click here to View and Download Policy Wordings

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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