Bajaj Allianz Shopkeepers Package Policy Introduction
Bajaj Allianz Company Limited provides insurance policy to shopkeepers in order to provide protection against Theft and Robbery. This Bajaj Allianz Shopkeepers package policy is specially designed for shop and home to cover all risks and difficulties faced by shopkeepers. Bajaj Allianz Shopkeepers package policy provides various risk covers such as Fired and Allied Perils, Burglary and Theft, plate-glass etc. Bajaj Allianz Shopkeepers package policy provides a huge protection for the property, interests of the insured and the policyholder partners in Business.
Benefits of Bajaj Allianz Shopkeepers Package Policy
- Provides Rebates on premium
- Provides 11 cover options to chosen.
- Provides Premium at low-cost
Bajaj Allianz Shopkeepers Package Policy Cover Options
Various cover options to choose under this Bajaj Allianz Shopkeepers package policy are explained below.
Fire and Allied Perils: This cover provides insurance in case of damage or loss due to
- Aircraft damage
- Riots or Strike and Malicious damage
- Missile testing operations
- Storm, Cyclone, Flood
- Landslide including rock slide
- leakage from automatic Sprinkler Installations
- Bursting & or overflowing of water tanks, apparatus & pipes
- Earthquake(Fire and shock)
- Bush fire
Burglary and Robbery: This option covers loss or damage occurred by robbery.
Money: In case of any money shifting from one place to another for Business purpose then this cover option provides protection to your risks.
Plate Glass: In case of any damages of plate-glass during policy period then the insurance cover pays by replacing or repairing such glasses. This Bajaj Allianz Shopkeepers package policy provides compensation for actual breakages up to a maximum of Rs.5000.
Neon Sign or Glow Sign: Bajaj Allianz Shopkeepers package policy covers loss or damage to your neon sign or glow sign caused by accidental external means, fire, lightning or external explosion, theft, riot, strike, typhoon, flood and cyclone.
Breakdown of Business Appliances: This policy covers your business equipments such as photocopying machine etc.
Electronic Equipment: This policy covers any loss or damage to electronic equipments such as fax machine, computers etc.
Fidelity Guarantee: This option covers the policyholder against any direct loss caused by act of fraud committed by any salaried employee in the insured premises.
Personal Accident: This Bajaj Allianz Shopkeepers package policy provides insurance cover option for personal accidental aged between 16 to 65 years.
Public Liability: This option covers the claims arising out of the third parties bodily injury or property damage occurring in your premises.
Workmen Compensation: This option covers the liability towards your Workmen under the Workmen Compensation Act, Fatal Accidents Act and at Common Law under this section.
Business Interruption: The Policy will cover Business interruptions suffered due to any perils.
Bajaj Allianz Shopkeepers Package Policy Rebates
Following Discounts are given to the policyholder in the form of low premium for opting more cover options.
|Cover Options||Discount on premium(%)|
|5 or 6 options||15% on all cover options except (Business Interruption, Electronic Equipment, Fire and Allied Perils)|
|7 or more options||20% on all cover options except (Business Interruption, Electronic Equipment, Fire and Allied Perils)|
Bajaj Allianz Shopkeepers Package Policy Premium Rating
Premium rates per Rs.1000 are given below
|Cover Option||Premium Rate(% 0-Rs. 1000)||Remarks|
|Fire and allied perils: Building and contents||For Sum Insured Rs.2 crores Fire: 2.25 %||Excess :The first 5% of each and every claim subject to a minimum of Rs.10000 and maximum of Rs.25000|
|Terrorism Cover Extension Option||0.2||Excess: 0.5% of the claim amount subject to minimum of Rs. 25,000|
|Burglary and House breaking Contents||2.25||First loss cover, if opted cover for 40% of total value of contents Premium rate: 1.50 on total value.|
|Money Insurance Cover||1.50||The rate to be applied on any one transit limit|
|Plate Glass Option||10||Not applicable|
|Neon or Glow sign||10||Not applicable|
|Breakdown of appliances||Window/split AC:25,Generator set : 16, Other equipment:15, All : 25||Not applicable|
|Electronic Equipments||10||Not applicable|
|Terrorism Cover Extension option||0.3||0.50% of the claim amount subject to minimum of Rs.100000|
|Fidelity Guarantee||10||Not applicable|
|PA||As per PA guidelines||Not applicable|
|Public Liability||0.5||Not applicable|
|Workmen Compensation||As per WC tariff||Not applicable|
|Business Interruption||2.25 + 25%||75% for 6 months indemnity period, 90% for 9 months and 100% for 12 months|
|Terrorism Cover Extension option||0.3||0.5% of the claim amount subject to minimum of Rs. 25000/-|
Bajaj Allianz Shopkeepers Package Policy Customer care
For any Information and doubts regarding this Bajaj Allianz Shopkeepers Insurance Package Policy, then you can contact the company. Address and details of company are given below
Address: Bajaj Allianz General Insurance Co. Ltd.
G.E. Plaza, Airport Road, Yerawada,
Pune – 411006. IRDA Reg No.: 113.
Company site: www.bajajallianz.com
For Any Query (toll Free):
Send SMS: SMS HOME TO 560703
Bajaj Allianz Shopkeepers Insurance Package Policy Proposal forms
More details regarding this Bajaj Allianz Shopkeepers Package Policy buying procedure is given below
Bajaj Allianz Shopkeepers Insurance Package Policy Claim Forms
More details regarding this Bajaj Allianz Shopkeepers Package Policy claim procedure is given below
Exclusions of Bajaj Allianz Shopkeepers Package Policy
- Kutcha constructions are not covered under this policy
- Terrorism activities, money and valuables are not included
- Loss of money from an unattended vehicle.
- Any loss not discovered within a period of 72 hours after its occurrence
- Any loss or damage that could have been insured against under a fire policy.
- Cracked, scratched, or imperfect Plate Glass are not covered under this policy.
Additional Information of Bajaj Allianz Shopkeepers Package Policy
Terrorism activities are covered by paying additional premium under this policy.
Cancellation: If policyholder is not satisfied with policy coverage, terms and conditions then the policyholder can cancel his policy cover within 15 days of policy contract.
FAQ’s of Bajaj Allianz Shopkeepers Package Policy
What are the exemptions covered for Breakdown of Business Equipment under this policy?
- Loss or damage for which the manufacturer or supplier is responsible
- Loss or damage caused to any item of Business Equipment older than 10 years from the date of manufacture.
What are the exclusions covered for Neon Sign or Glow Sign under this policy?
- Any costs incurred in connection with maintenance, including parts replaced in the course of such maintenance operations.
What are the exclusions covered for Electronic Equipment under this policy?
- The cost of transporting the Electronic Equipment to and from the place of repair
- Loss of or damage to any Electronic Equipment by perils insurable under any other Cover of this Policy
- Loss or damage to mobile phones or other similar communication devices.