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Property Insurance

Keep your assets protected, always

49 Lakh+

Policies issued*

One of the Market leaders in
the private sector#

Easy claim
process

Instant policy
generation

Covers natural
calamities

Covers up to 50 crore

Coverage for loss
in stock

Covers burglary2 &
theft

What is Property Insurance?

Property Insurance is a policy that protects both the premise and the contents inside it.

If something unexpected happens, like a fire, flood, or theft, then it helps cover the cost of repairs or replacements.

Think of it as a promise from ICICI Lombard to support you in difficult situations and help keep your losses under control.

Trivia: Did you know? Fire insurance and property insurance are essentially the same thing! To secure your property you choose from four offerings i.e. MSME Suraksha Kavach, Merchant’s Cover III, Bharat Griha Raksha policy and Standard fire and special perils.

Who can benefit Property Insurance?

Offices

Offices and housing societies, whether small or large, can use property insurance to repair or replace buildings, furniture, and equipment damaged due to accidents.

Schools and colleges

Educational institutions can rely on property insurance to cover the cost of repairs if buildings are damaged by fire, floods, or earthquakes. This helps them reopen quickly and safely.

Shops and malls

These places can face major losses if their buildings or goods are damaged. Property insurance helps with repairs, restarts operations, and also covers theft or burglary of contents and stock

Factories

Property insurance covers the cost of damaged machinery and stock, helping factories maintain business continuity and keep operations running smoothly.

Hotels and restaurants

Property insurance supports hospitality businesses by covering repairs and the replacement of damaged furniture or kitchen equipment after unexpected events.

Warehouses

Property insurance protects warehouses that store goods and machinery, helping manufacturing and retail businesses manage disruptions and continue operations smoothly.

Our Property Insurance offerings

Each policy is made to keep your business or home safe from harm.

For Small businesses – MSME Suraksha Kavach

  • Covers damage to buildings, machinery, and stock

  • Coverage up to ₹50 crore

For Shopkeepers – Merchant’s Cover III (Shop Insurance)

  • Protects against accidents, injuries, and damage to the shop and its contents

  • Coverage up to ₹50 crore

For Homeowners and housing societies – Bharat Griha Raksha Policy

  • Covers damage from natural disasters like floods, storms, and earthquakes

  • Coverage up to ₹10 crore for homeowners and as per requirement, for housing societies

For Large business properties – Standard Fire and Special Perils Policy

  • Protects buildings, machinery, and business-related goods

  • Coverage above ₹50 crore

What’s included and
what’s not?

  • Inclusions
  • Exclusions

Fire and lightning

Storms, cyclones, hurricanes, typhoons, tornadoes, tsunamis, floods

Forest fire, bush fire, jungle fire

Missile testing operations

Acts of terrorism

Bursting or overflow of water tanks, pipes

Explosions or collapse due to low internal pressure

Earthquake

Sinking of an area

Damage caused to the property when external objects crash into it

Riots or strikes

Leakage from automatic sprinkler systems

Theft during working hours (without any break-in)1

Burglary2

Loss caused by burning of insured property following orders from a public authority

Claims where important or relevant facts were deliberately omitted

Damage to stocks in cold storage due to change in temperature

Damage to property after undergoing any heating, drying process

Loss or damage due to war

Damage from nuclear contamination

Damage due to pollution

Missing or misplaced property without any clear evidence of loss

Cost incurred in preparing or submitting a claim

Premise is unoccupied for more than 30 days

Loss or damage in basement

Damage to kutcha (temporary or thatched) constructions

Benefits of choosing ICICI Lombard
Property Insurance

1. Reliable protection

Accidents can happen anytime and you might have to pay for their losses. Our insurance policy covers you in such situations and keeps you safe from big expenses.

2. Expert help

We have been helping businesses stay safe for years, so we understand the risks you face. Let us provide the right protection to keep your business secure.

3. Easy claim process

Our team is always ready to help, whenever you need.

4. Instant policy generation

With smart technology, you can get a property insurance policy almost instantly. No big forms or long waits just a few clicks and you are covered!

What is the claim process
for ICICI Lombard’s
Property Insurance policy?

3. Share documents

Surveyor will guide the customer on how and where to send the required documents.

6. Claim payment

Payment will be credited to your account once survey report and KYC docs received

Virtual survey claim process

For claims up to ₹5 lakh, customers can opt for virtual survey for making a claim.

Here is how:

  • A link for the virtual survey will be sent via SMS or email, upon request.

  • The surveyor will guide you through the virtual survey to inspect damages.

  • If required, the surveyor will ask you to submit the necessary documents.

  • Once the claim is approved, you will receive an offer for settlement via a link.

  • Provide digital consent and submit KYC details online.

Ratings and reviews

ACG Group

ICICI Lombard has been our insurance partner for more than a decade. The company has a diverse portfolio of non-health services, and has successfully helped us sail through the risk hurdles with outstanding solutions in Property and Marine segment.

Enzene Biosciences Limited

ICICI Lombard’s sales and service team is excellent and I am truly impressed. We had an association of more than 5 years and excellent support in terms of claim settlement, be it health or fire.

Mantra Softech (India) Pvt Ltd

We are customers of ICICI Lombard for a long time and they are very competitive in the market. They are far ahead in digitalization compared to others. We have very good experience with their services.

M/s Amsec Systems

I am writing this to express my immense gratitude for your support in getting the insurance claim for my shop!

Larsen & Toubro

Customer friendly insurer. Goes the extra mile to meet deliverables. Happy to work with ICICI Lombard.

Luxmi Tea Company Private Limited

We are associated with ICICI Lombard since 2018. They have been a phenomenal risk solution partner & underwriter providing exceptional service. Thank you for the service, support & co-operation.

Disclaimers

  • *The count is for overall Fire LOB for the period April 2022 to March 2026

  • # as on FY 2025

  • 1 This must be reported within 7 days

  • 2 This is an add-on cover. Add-ons are subject to additional payment

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