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Premium
Generally speaking, the Premium rate depends on the construction of the asset, the occupancy and the accident prevention measures implemented in the office. Appropriate discounts / loading to premium is given based on past claims history.
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Scope of Cover
Office Insurance Policy is a comprehensive insurance policy for your office. This policy covers:
Fire (Building and Contents)
The Policy covers losses to the building and contents against:
- fire
- lightening
- riot
- strike
- storm
- cyclone
- flood
- terrorism
Loss or damage due to terrorism can also be covered under this Policy by taking an add-on cover in the form of an endorsement.
Burglary
This cover protects the contents of your office against any loss or damage caused by burglary or an attempted burglary.
All Risk-Functional Equipment
This cover provides for the damage caused to the equipment in your office.
Cost of Data Reinstatement
This covers the cost incurred in restoring the data lost because of an insured peril.
Cash- in- safe
This cover provides for losses resulting due to burglary of cash kept in a safe.
Cash- in- Transit
This covers losses due to burglary of cash while it is being carried from the bank/ATM to your office.
Glass Breakage
This covers for loss or damage to any fixed plain glass caused by any accident, external and visible means.
All Risk-Non-Functional Items
This cover provides for damage or loss to mobile equipment such as laptops and mobile phones.
Fidelity
It covers direct financial losses sustained due to fraud or dishonest acts by salaried employees.
Cheque Forgery
This covers for losses caused by forgery or alteration of cheques, drafts or any other negotiable instruments issued by you or in your favour.
Personal Accident
Body injuries sustained due to an accident, resulting in death or permanent/ total disability.
- Ambulance charges of up to Rs 2000
- In the event of death, carriage of the dead body.
Mediclaim
According to the terms and conditions of the Mediclaim section.
Public Liability
This cover provides for legal liability on behalf of the Proposer for:
- Accidental death or bodily injury to a third party excluding resident employees or domestic staff
- Accidental damage to third party property.
Professional Indemnity
It provides for legal liability to the Insured arising due to professional errors.
Employer’s Liability
It provides for legal liability to your employees.
Tenant’s Legal Liability
This cover provides for legal liability imposed on the Proposer, due to unintentional property damage for the loss or damage to the property caused by a fire, explosion or water damage to the premises.
It could be in the form of a building or contents owned by or belonging to another and used by the Insured in the capacity of a tenant or a person holding them in custody for which the Proposer is legally responsible.
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Significant Cover
The Policy would not cover:
Under Insurance: In case the actual value of the insured property at the time of loss under the Fire is found to be greater than the sum insured chosen by you, then, the claim would be proportionally reduced.
Willful destruction of
- property
- loss
- damage or destruction caused by war perils
- wear and tear
- atmospheric conditions.
Loss: if the dwelling is unoccupied for more than 30 days.
Any item: covered under Contents for Fire and Burglary, whose value is more than Rs 10,000 unless specified in the Proposal Form.
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Excess
Please refer to the Policy document.
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