It covers all the probable risks and perils faced by small to medium sized shop owners. It provides protection for the property and the interests of the Insured in the business venture. The policy comprises of following 11 sections :
Section I - Building & Contents : Covers shop building and/or contents therein against loss or damage caused by Fire & Allied perils i.e.
Fire, lightning, explosion of gas in domestic appliances
Bursting and overflowing of water tanks, apparatus or pipes
Aircraft or articles dropped therefrom
Riot, strike, malicious damage, terrorist act
Earthquake-Fire and/or shock, subsidence and landslide (including rockslide)
Flood, Inundation, Storm, Tempest, Typhoon, Hurricane, Tornado or Cyclone.
Impact damage by rail/road vehicle not belonging to the insured.
Section II - Burglary & Housebreaking : Covers contents of insured shop premises(excluding money and valuables) against loss or damage by burglary and/or housebreaking.
Section III - Money Insurance : Covers loss of money in transit, loss of money/valuables whilst contained in a locked safe, loss of money contained in cashier's till and/or counter by burglary/housebreaking.
Section IV - Pedal – Cycles : Covers loss/damage to pedal cycles belonging to insured by:
Fire, lightning or external explosion.
Riot, strike, malicious or terrorist act.
Burglary and/or Housebreaking or theft
Accidental external means
Flood, cyclone, storm, tempest, and other similar convulsions of nature and atmospheric disturbance
Earthquake Fire and shock
This section also covers legal liability of insured for death/injury to third parties or damage to their property arising out of use of the insured pedal cycles.
Section V - Plate Glass : Covers loss of or damage to fixed plate glass in insured's shop by accidental.
Section VI - Neon Sign/Glow Sign : Covers loss of or damage to neon sign/ glow sign by :
Accidental external means
Fire, lightning or external explosion or theft.
Riot, strike, malicious or terrorist act
Flood, inundation, storm, tempest, typhoon, hurricane, tornado, cyclone.
Section VII – Baggage : Covers loss or damage to accompanied personal baggage of insured or baggage in connection with his trade, whilst anywhere in India, by accident or misfortune.
Section VIII - Personal Accident : Covers insured and spouse and/or his children, named in the schedule and aged between 5&70 years, against bodily injury caused solely and directly by accident and resulting in death or permanent total or partial disablement or temporary total disablement within 12 calendar months of such injury.
Section IX - Fidelity Guarantee : Covers direct pecuniary loss suffered by the insured due to fraud or dishonesty committed by any of insured's salaried employees.
Section X - Public Liability : Covers
Legal liability in respect of accidental death or bodily injury to a third party or accidental damage to their property during performance of any act in connection with insured's business.
Compensation to insured's employees under Workmen's Compensation Act or Common Law.
Section XI - Loss of Profit : Covers loss of profit due to interruption of business consequent upon loss or damage sustained by property insured under Section I of the policy due to insured perils.
