The Oriental Insurance Office Umbrella policy offers protection against different kinds of risks and perils an office environment may be subject to under various sections by providing comprehensive coverage.
The policy provides total coverage for all risks that are common to an office eliminating the need to take different policies.
Who should buy this policy? This policy is particularly beneficial for professionals like chartered accountants, consultants, architects, interior decorators, engineering or any other service providers. It also covers, medical establishments, doctor’s clinics etc and offices owned by large companies as well as small and medium sized offices.
Risks covered:
- Covers building from various perils as per standard fire and special perils policy.
- Contents against fire and allied perils
- Money while in office or in transit from or to the office.
- Fixed glass and sanitary fittings from accidental breakage.
- Losses caused by fraud or dishonesty committed by any salaried employee.
- Accidental losses and electronic equipment in the office including mobile equipment.
- Additional rent required for alternative accommodation in the event of a loss.
- Bodily injury to insured persons by accidental means.
- Breakdown of appliances due to electrical and mechanical causes is covered under this section.
- Accidental loss or damage to baggage of persons during official journey is covered here.
- Liability to public for accidental bodily injury and property damage.
- Loss of income including increased cost of working, additional expenditure due to business interruption following a loss
Compensation:
- In case of damage to the building premises, the insurer will indemnify the insured the cost of replacement or reinstatement or repairs based on actuals, including removal of debris, consultation fees.
- In case, theft, accident or misfortune occurs to the money held by the office, the cover will also include replacement and/or repairs to the safe.
- Fixed glass and sanitary fittings are insured on a reinstatement basis.
- In event of any accident occurring to named employees, damages with regards to hospitalisation, ambulance charges and costs of clothing.
- In case of business interruption, the loss of income including increased cost of working and additional expenditure such as setting up of a temporary office, rates, taxes, cost of substitute equipment, hiring personnel, professional charges and additional expenditure such as rent, electricity, taxes, costs of removal will be paid for.
Ask our Authorised Oriental Insurance Agent for Premium Rates Calculation Comparision for Office Umbrella Policy..
The Shopkeepers Insurance Policy gives covers all the risks and contingencies faced by small to medium shop owners. It provides protection for the property and the interests of the insured and his partners in the business venture.
However the shop owner should not be dealing in hazardous goods and the shop should not be a Kuchha construction.
Note: Shops that implement manufacturing processes do not qualify for the Shopkeepers’ Insurance policy Merchant Insurance. ( The Oriental Insurance Company Ltd.)
Shop Insurance Risks covered:
- This policy is divided into various sections
- Fire and allied perils (shop building and its contents).
- Burglary and housebreaking.
- Money stored in transit/ counter/ safe
- Pedal cycle
- Plate glass
- Neon and glow signs
- Baggage Insurance
- Personal Accident
- Fidelity of the employees
- The owner’s public liability
- Workmen’s compensation liability
- Interruption of business.
What are the Exclusions?
- Any misdemeanour involving any partner or employee of the insured or his family member as principal or accessory will not be compensated.
- Any loss or damage to the pedal cycle insured if and when it is not securely locked, when unattended or overloaded will not be compensated.
- Regarding plate glass breakage or damage during removal, alteration and/ or repairs, breakage of lettering, breakage or damage to the frames or framework will not be covered.
- Disfiguration or scratching or damage other than a fracture extending through the entire thickness of the glass is not covered.
- Embossed, silvered, lettered, ornamental, curved or any glass that is not plain and of ordinary quality.
- Breakage of glass that is not securely fixed.
- Loss or damage consequent to interruption or delay of business arising from replacement or breakage of glass will not be provided for.
- Regarding neon and glow signs, the liability posed by earthquakes or fusing or burning out of bulbs, short circuits, mechanical or electrical faults is not payable.
- Regarding baggage loss, any loss caused by scratching, breakage of lenses, china, marble, records, brittle and fragile articles, damage caused by mildew, worming, cleaning processes, dyeing, repairing and restoring, theft from unattended and unlocked cars is not payable.
- Regarding fidelity guarantee, any infidelity by a person other than a salaried employee of the insured is not insured.
- Regarding covering third party liability of the insured, any liability assumed by the policyholder as well as injuries caused to animals or vehicles are not payable.
- Regarding covering risks and liabilities towards the Workmen’s Compensation Act, any interest or penalty imposed upon the insured will not be payable.
- Regarding covering loss of business due to interruption caused by fire and allied perils, the insurers are not liable for consequential losses to securities, obligations or documents, stamps, coins, paper money, books of accounts, other business books, computer records, manuscripts, plans, drawings or designs, patterns, moulds or patented designs.Premiums quotes are available on demand.
How to Take a New Shopkeeper Insurance Policy?
- Take a good look at the Proposal form and identify your requirement for insurance.
- Prepare a list of items desired to be insured, with proper valuation.
- Remember that liability cover is on reimbursement basis and limited to the sum insured selected.
- Ensure that there is no misstatement, or misrepresentation; since the proposal is the basis of the contract.
- The liability of the Company does not commence until the proposal has been accepted and full premium paid.
How to Lodge the Claims in Shop/ Home Owners Policy?
- Give immediate notice of claim.
- Obtain the claim form from the Company (also available on our website) and provide full details of the loss, as sought in the form.
- Do not dispose off / destroy damaged property, if any, till company permits such disposal.
- Take necessary steps to minimize loss and keep the Insurance Company apprised.
- Please ensure that no bribe is given to anyone on account of settlement of claim. Please report any such demand immediately to the Oriental Insurance Company.
To Apply for Cheaper online Premium Rates Renew online Compare on Shop Keeper/ Merchant Insurance Policy by The Oriental Insurance Company here…
Non Life Insurance | Sameer Trivedi January 7, 2010 | 
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