What is the Insurance Cover under this policy?

The Bharat SookshmaUdyam Suraksha Policy gives insurance cover to Your property relating to Your business. Under this policy, insurer agrees to pay You for the loss You suffer when unexpected events cause physical loss, damage or destruction of buildings and structures, plant and machinery, stock and other assets relating to Your business. This Policy gives three types of covers:

1. Standard Cover: for the building and structures, plant and machinery, stock and other assets relating to Your business.
2. In Built Covers: Under the Standard Cover, if insurer agrees to pay Your claim for loss or damage to Insured Property, they will also pay for the following loss or damage and expenses.
   1. Additions, alterations or extensions: Property that You erect, acquire or add during the Policy Period is covered up to 15% of the sum insured for that item (excluding stocks).
   2. Stocks on floater basis: Loss to stocks located at more than one named location.
   3. Temporary removal of stocks: Loss to stocks temporarily removed to other premises for fabrication, processing or finishing upto 10% of value.
   4. Cover for Specific Contents: Cover for money up to ₹50,000 (Rupees Fifty Thousand) during the policy period, cover for documents such as deeds, manuscripts, business books, plans, drawings, securities etc., up to ₹50,000 (Rupees Fifty Thousand) during the policy period, cover for computer programs, information and data up to ₹ 5 Lakh (Rupees Five Lakh) during the policy period and cover for personal effects of employees, Directors and visitors up to ₹15,000 ( Rupees Fifteen Thousand ) per person for a maximum of 20 (twenty) persons during the policy period.
   5. Start-Up Expenses: Start-up cost incurred by You, consequent upon a loss or damage due to insured events upto ₹ 1 lakh ( Rupees One Lakh) during the policy period.
   6. Professional fees: Reasonable fees of architects, surveyors and consulting engineers up to 5% of the claim amount Bharat SookshmaUdyam Suraksha Page 2 of 12
   7. Cost of Removal of debris: Reasonable expenses for removal of debris up to 2 % of the claim amount. 
   8. Costs compelled by Municipal Regulations: Additional cost of reconstruction of property incurred solely for complying with municipal regulations.

Policy Details