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Shop Insurance

Secure your shop at just

₹250/ year~

49 Lakh+

Policies issued*

One of the Market leaders in
the private sector#

Easy claim
process

Instant policy
creation

Covers natural and
man-made calamities

Covers burglary2
and theft

Covers for loss
of cash@

Covers for stock and
content

What is Shop Insurance?

Merchant’s Cover III, also known as Shop Insurance, is a type of Fire Insurance Policy designed to protect shops from risks like fire, theft, storms, riots, strikes and other accidents.

It covers the premises and its contents, including stock, cash, and furniture.

Additionally, if a customer (not staff) is injured due to an accident on the premise, the policy provides coverage for that as well.

Who should get Shop Insurance?

Independent shopkeepers

Ideal for those running a kirana store or a retail shop as their primary source of income.

Family business owners

Ideal for those owning shops that sell clothes, toys, household items, and more, especially in prime areas.

Multiple shop/ godown owners

Ideal for those managing multiple shops or godowns in different locations, each needing individual coverage.

Franchisee or showroom owners

Ideal for those who have invested heavily in shop setups, offering protection for interiors, equipment, and overall business infrastructure.

Types of Shops covered

Electronic goods store

Fruits and vegetables shop

Department store

Garment shops

Bookstore

Furniture shops

Gift card shops

Pharmacy

Flower shop

Groceries

Note: Apart from these categories, ICICI Lombard’s Property Insurance covers shops of all size and type.

Benefits of opting for a Shop Insurance from ICICI Lombard

1. Instant policy generation

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

2. Speedy claim process

Claim up to ₹5 lakh with just one document — settled in as little as 10 days. Your business deserves uninterrupted growth.

3. Trusted by millions

As one of the leaders in corporate insurance, we’ve earned the trust of millions of Indian businesses. Your success is our priority.

4. Customised plan

You can choose from a wide range of add-ons to make your business even more secure from unexpected crises.

What’s included and
what’s not?

  • Inclusions
  • Exclusions

Fire and lightning

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

Forest fires

Missile testing operations

Acts of terrorism

Bursting or overflow of water tanks and pipes

Explosions or collapse due to low internal pressure

Earthquake

Sinking or subsidence of land

Damage caused by external objects crashing into the property

Riots or strikes

Leakage from automatic sprinkler systems

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

Burglary2

Cash in safe/ Cash in counter@

Cash in transit@

Glass breakage@

Neon sign / Glow sign@

Public liability@

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

Claims where important or relevant facts were deliberately omitted

Loss or damage due to war

Damage from nuclear contamination

Pollution

Missing or misplaced property without any clear evidence of loss

Cost incurred in preparing or submitting a claim

Loss or damage in basement

Damage to kutcha (temporary or thatched) constructions

High-risk properties like factories, offices, or jewellery stores

Breakdown of machinery due to aging or internal faults unless caused by fire

How to file a claim in
Shop Insurance?

3. Upload documents

Submit the required documents using the provided link.

6. Claim payment

Complete your KYC and the payment will be credited to your account.

Online 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.

How to choose the right
Shop Insurance?

For the building

This refers to the premises of your business.

For content

This includes furniture and fixtures inside the insured shop.

For stock

The inventories of your business are included under this.

Imagine your shop is valued at ₹25 lakh, with furniture and fixtures costing ₹5 lakh.

Your electronics and stock are priced at ₹20,000 per item, with 50 pieces in stock—bringing the total stock value to ₹10 lakh.
Hence, ₹40 lakh should be the minimum coverage amount for your insurance.

Pro tip

Stock value can grow over time, so it is smart to include a buffer in your coverage to ensure the shop stays fully protected in case of a claim.

Ratings and reviews

ACG Group

Quote

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

Enzene Biosciences Limited

Quote

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

Quote

We are customer of ICICI Lombard since long time and they are very competitive in market and they are far ahead in digitalization compare to others. We have very good experience with their services.

M/s Amsec Systems

Quote

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

Larsen & Toubro

Quote

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

Luxmi Tea Company Private Limited

Quote

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.

Frequently asked questions
- Shop Insurance

1.What is the importance of Shop Insurance?

Running a shop is a key source of income for many. Whether it’s a small store or a large retail outlet, your shop is valuable. A shop insurance policy helps protect your shop and its contents from unexpected events like fire, theft, natural disasters, or accidents.

This protection ensures:

  • Your profits and savings are secure

  • You can focus on growing your business

  • You're covered during tough times

2.Why buy Shop Insurance online?

Buying shop insurance online is quick, easy, and hassle-free.

Here’s why it’s a smart choice:

  • Saves time: Purchase in just a few minutes

  • Faster claims: Self-inspection via smartphone speeds up the claim process

  • Minimal paperwork: Most steps are digital. Only a few documents may be needed in rare cases

3.How to compare Shop Insurance plans?

Choosing the right shop insurance plan can feel overwhelming.

Here are four key things to look for:

Sum Insured

  • This is the maximum amount your insurer will pay in case of damage or loss

  • Choose a plan that lets you customise this based on the value of your shop and its contents

Tip: A higher sum insured means better coverage (but also a slightly higher premium)

Ease of claims

  • Look at the insurer’s claim process and track record

  • Choose a provider known for smooth, fast claim settlements

Coverage

  • Does it cover just the building or also the contents (like stock, cash, furniture)?

  • Make sure the plan matches your shop’s actual needs

Best value

  • Don’t pick the cheapest plan—balance premium, coverage, and benefits

  • Go for a policy that gives you maximum value for your investment

4.Theft vs Burglary – What is the difference?

These two are often confused. Here is how they differ:

Theft

  • What it means: Someone steals during business hours, without breaking in

  • Example: An imposter quietly steals an item from the shelf

  • Coverage: Usually included in basic plans

  • Note: If theft takes place within 7 days of the incident

Burglary

  • What it means: Someone forcibly breaks in to steal from your shop

  • Example: A break-in at night where stock and equipment are stolen

  • Coverage: Not included by default – add it at an extra cost

Tip: A higher sum insured means better coverage (but also a slightly higher premium)
5.Is stock and inventory covered under this business insurance?

Yes. The shop insurance policy covers loss or damage to stock-in-trade, goods, raw materials, and finished products stored at your insured premises.

6.Are fixtures, furniture, and electronic equipment covered under the policy?

Yes. You can cover your furniture, fixtures, air conditioners, refrigerators, and electronic equipment used for business operations under this policy.

7.How long is the policy valid and can it be renewed online?

The policy is typically valid for 1 year, and yes, you can renew your shop insurance online hassle-free. Set renewal reminders to avoid a coverage gap.

8.Is this shop insurance policy suitable for small businesses and retail stores?

Yes. This plan is designed specifically for small shops, Kirana stores, salons, medical stores, and boutiques, offering essential coverage at affordable premiums.

9.What is the claim process for shop insurance?

To file a claim, call ICICI Lombard's 24x7 toll-free number or raise a claim online. Submit basic documents like FIR (for burglary), photos of damage, and invoice copies. The process is fast and paperless for many cases.

Product Product code UIN No.
Merchant’s Cover III Insurance Policy 4095 IRDAN115RP0004V02200203
Disclaimers

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

  • #as on FY 2025

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

  • ~Premium of ₹250 per year is based on a sum insured of ₹3,00,000 (minimum SI for shop insurance) for locations falling under Zone IV. Actual premium may vary depending on the sum insured, location zone, and applicable terms and conditions. Tax and other statutory charges are additional.

  • 1This must be reported within 7 days

  • 2Subject to additional premium. This refers to forced entry where goods from the shop are stolen and property is damaged

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