Shopkeeper’s Package Insurance Policy

This is a package policy of various sections which covers business assets, stock-in-trade and equipment in a proposer’s shop including items of property contained therein for which a shop-keeper is accountable and legal liability, if any, incurred while carrying on trade/business at the shop.

Scope of cover:

Section I covers building/s and contents being business assets, stock-in-trade and equipment in a proposer’s shop including items of property contained therein for which the shop-keeper is accountable against fire and allied perils.

Section II covers contents in the shop against burglary and/or housebreaking. Damage to the shop and/or safe due to burglary and/or housebreaking or any attempt thereat is also covered subject to a maximum of 5% of the sum insured.

Section III covers all electrical and/or mechanical appliances, apparatus, gadgets and/or any electrical or mechanical installation pertaining to trade / business while contained or fixed in the shop against loss or damage due to unforseen and sudden accidental physical damage caused by and /or solely due to mechanical and/or electrical breakdown.

Section IV covers electronic appliances, apparatus, gadgets, and/or any electronic installation including Computers pertaining to shopkeeper’s trade/business while contained or fixed in the proposer’s shop. This also covers data carrying materials and data contained in or on such data carrying materials and/or Software/ Computer Programs (other than own/in-house developed Software/Computer Programs) to the extent declared for coverage.

Section V covers loss of money relating to shopkeeper’s trade / business due to accident or misfortune whilst in transit or from the safe / till at the shop.

Section VI covers loss of baggage of proprietor, partner, principal officer and employee in the permanent employ of the shop-keeper due to accident or misfortune during any journey undertaken in connection with their official duties outside the city, town or municipal limits of the place where the shop is situated.

Section VII covers loss or damage to fixed plate glass, frames or framework (including lettering consequent upon breakage of glass) due to accidental breakage. The sum insured under this Section shall be on reinstatement value basis.

Section VIII covers loss of personal baggage of the shopkeeper and that of family members due to accident during any journey undertaken in India outside the city.

Section IX covers Neon sign and/or Glow sign and/ or Hoarding belonging to and fixed in the shop against loss or damage due to accidental external means, fire, lightning, external explosion, theft of whole sign, riot, strike, terrorism, malicious damage, earthquake (fire and/or shock), subsidence and landslide (including rockslide) damage, flood, inundation, storm, tempest, typhoon, hurricane, tornado and cyclone. The sum insured is based on reinstatement value for Neon sign and Glow sign and on market value for Hoarding.

SectionX providesforcompensationtowardsaccidental injury/death covering shopkeeper and / or his employees (aged between 18 to 70 years).

Section XI provides cover against direct pecuniary loss caused by dishonest acts / infidelity of employees who are in the permanent employ of the shop-keeper.

Section XII A covers legal liability to employees, servants at the shop under Fatal Accidents Act, 1855/ Workmen’s Compensation Act, 1923 or any amendments thereto and in Common Law to pay compensation in respect of accidental death or injury arising out of and in the course of employment in India.

Section XII B covers legal liability (other than liability under the Public Liability Insurance Act, 1991 or any amendments thereto or other statute based on the doctrine of liability or product or pollution liability) to pay compensation including claimant’s costs, fees and expenses incurred anywhere in India, in accordance with Indian Law.

All standard exclusions of the respective policies are applicable to the respective sections.