Shop owner Insurance Policy

  • OkBima
  • 16 Jan 2023

You’ve been a key player in India’s burgeoning retail industry. You built this business with your sheer hard work, and it is reaping rewards for you in the consumption era. While you may adore what you’ve created, you should ask yourself this question: “Have I Ever Considered Insuring It Against Threats to My Earning?”

This is when a Shop owner Insurance policy comes into action. A shop owner insurance policy protects small and medium-sized business owners from damage or loss to their store or its contents as a result of unforeseen disasters such as fire, flood, earthquake, riot, burglary, and so on. Liability claims are also taken care of. As a result, having a shop insurance policy gives you peace of mind and allows you to deal with any unexpected events with ease.

Key features

It’s a one-stop insurance solution that protects you and your company against hazards such as fire, malicious damage, riots, earthquakes, burglary, and property damage, among others.

Standard Fire and Special Perils: Protects your property from loss or damage caused by fire and other special perils caused due to-


Bush fire

Lightning Explosion and implosion are two terms for the same thing.

Damage due to aircraft

Natural disasters

Destruction caused by a riot and malicious damage

Missions to test missiles

Impact damage caused by a railroad vehicle or an animal that is not insured. 

Subsidence and landslides, especially rockslides

Water tanks, apparatus, and pipes bursting and/or overflowing

Automatic sprinkler system leakage

Legal liability to employees


Coverage of terrorism

Expenses for debris removal that exceed one percent of the claim amount

Expenses for architects, surveyors, and consulting engineers that exceed 3% of the claim amount

Loss of rent

Rent at a different location at an additional price.

Am I eligible for this insurance?

Yes, you are very well eligible to avail Shop owner Insurance policy. It is available to anyone who operates a medium or small business. There are no strict eligibility requirements for purchasing the insurance plan.

To categorize, you can avail Shop owner Insurance policy if you own any: –

Small and Medium sized Shops including Kirana stores

Convenience stores

Shopping Malls


Burglary: Loss or damage caused by

Explosions or fire

Inmates, members of the insured’s household, or employees of the business

Electronic Equipment: Loss or damage caused by

Wear and Tear 

Faults or defects known to the insured or his representative at the time of the insurance’s beginning

Portable Equipment: Loss or damage caused by

Loss, or damage to portable equipment caused by cleaning, restoring, mending, or degeneration resulting from wear and tear, moth vermin, insects, or any other gradually developing cause.

Customs or other authorities may detain or confiscate you.

Any and all consequential damages or legal liability

Machinery breakdown: Loss or damage caused by

Whether it’s a deliberate act, a lapse in judgement, or a case of gross negligence

Normal wear and tear cause deterioration.

Money: Loss caused by

Collusion by any employee or agent of the Insured

Use of keys or duplicate keys

The use of forged currency

Plate glass and neon signboard: Loss or damage caused by

Cracks and Scratches

While removing, replacing, or modifying anything

Workmen’s’ compensation: Liabilities arising out of

Intentional or wilful non-compliance with any statutory provision

Penalties, fines, and/or punitive and/or exemplary damages

Baggage: Loss or damage caused by

Derangement or failure of the mechanical or electrical systems

Loss of money, trip ticket, and traveller’s check

Baggage theft from any vehicle, unless it is a fully enclosed vehicle

Personal Accident: Liabilities arising out of


Intentional self-injury

Under the influence of an alcoholic beverage, an injury accident occurs.

Standard fire & special perils: Loss or damage caused by

Operations that resemble battle or are similar to war

Ionizing radiation, radioactive pollution, nuclear fuels, and waste

Losses due to pollution or contamination

Earnings losses or market losses

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