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Section V : Plate Glass
This covers loss of or damage to fixed plate glass in the Insured premises by accidental Breakage.
Rate of Premium : Rs.10.05 mille
Sum Insured : 10% of the Sum Insured under Section 1 or Rs.1,00,00/- whichever Is less.
Section VI : Neon Sign/Glow Sign Insurance
This covers loss of or damage to Neon Sign/Glow Sign by accidental external means, Fire, lightning or external explosion or theft, riot, strike or malicious act flood, inundation, Storm, etc.
Rate of Premium : Rs.10.05 per mille
Sum Insured : 2% of the sum insured under section 1 or Rs.20,000/- whichever is less.
Section VII : Baggage
a) This indemnifies the Insured in respect of baggage in connection with trade accompanying the Insured and/or his employees.
b) Personal baggage of the Insured and/or proprietors and/or partners accompanying them anywhere in India if lost or destroyed or damaged by a accident or misfortune.
Rate of Premium : Rs.7.55 per mille.
Sum Insured : Carrying trade sample by Insured/employees and/or personal effects of the Insured partner (2% of the Sum Insured under Section 1 or Rs.20,000/- whichever is less)
Section VIII : Personal Accident
Please refer PA section of this manual.
Section IX : Fidelity Guarantee
This indemnified the insured against direct pecuniary loss sustained by him and caused By the act fraud or dishonesty committed by any salaried person employed by the Insured in the premises.
Rate of Premium : Rs.10,00 per mille
Sum Insured : 10% of the sum insured under section 1 or Rs.1,00,000 whichever is Less.
Section X : Liability
This covers (a) legal liability to any third party for personal injury or property damage whilst caused at the Insured premises.
Insured statutory liability in connection with his trade and business under Workmens Compensation Act,1923. Fatal Accidents Act, 1855 and at Common Law in respect of death of or injury to employees.
Public Liability
Rate of Premium : Rs. 0.50 per mille.
Sum Insured : 5% of the Sum Insured under Section 1 or Rs.50,000/- whichever is less.
Workmen´s Compensation - As per tariff.
Section XI : Business Interruption
Sum Insured must be equal to the S.I. under Sec. 1 (b)
Rate of Premium : Rs.2.25 per mille.
Important
This policy should be issued only to shops with Class A construction.
The sum insured under section 1 (a) & (b) together should not exceed Rs.1,00,000/-
This policy cannot be issued to cover risks where the fire tariff rate is more than Rs.3.35 permille.
Section 1 (b) * II, i.e. insurance of contents against the risk of fire & allied perils & Burglarry/housebreaking are compulsory. However, policy can not be issued covering the above sections alone. A minimum of two sections have to be covered out of the remaining sections. The minimum premium for Sec. 1 is Rs.10/- and Rs.5/- for other Sections.
In case the proposer opts for section IV and VI, the properties covered under these two Sections may be deleted from the schedule under section 1 (b) and II in view of double cover.
2. Group Discount :
| When the proposer opts for more than 4 sections |
15% on non-tariff premium only. |
| When the proposer opts for More than 6 sections. |
20% on non-tariff Premium only. |
Non-traditional business: 15% Agency Commission.
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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