SHOPKEEPERS

INSURANCE
RAVI PATEL
ASSISTANT(BAVLA BRANCH)

SKI Policy-Salient Features

Minimum 4 sections to be covered including Section I B & II which are

compulsory.

Shops dealing in non hazardous goods can be insured.

Discount in premium on non tariff sections (I & XI- WC)

if more than 4 sections covered-15 %
if more than 6 sections covered-20 %

Shopkeepers Insurance
Sectio
n
No.

Coverage

I-A
I-B
II
III

Building
Contents
Burglary
MoneyIn Transit (2%)
In safe (1%)
Till/Counter(1%

S.I. Limit Premiu

m
Rs.in
Lacs
Per
mille
50
2.25
50
2.25
50
2.50
1.00
0.50
0.50

2.50
2.50
2.50

Shopkeepers Insurance
Sectio
n
No.

Coverage

S.I. Limit Premiu

m
Rs.in
Lacs
Per
mille
20.00

IV

Pedal cycle

Plate Glass

1.00

10.00

VI

Neon & Glow

Signs

0.50

10.00

Shopkeepers Insurance
Sectio
n
No.
VII
VIII
IX

Coverage

S.I. Limit Premiu

m
Rs.in
Lacs
Per
mille
Baggage (2% of
0.50
7.50
S.I.)
Personal
As per
As per
accident
P.A.
P.A.
Fidelity
0.50
10.00
Guarantee

Shopkeepers Insurance

Sectio
n
No.
X

XI

Coverage

S.I. Limit Premiu

m
Rs.in
Lacs
Per
mille
Liability- Public
0.50
0.50
WC
As per
tarif
Business
Sec.IB
2.50
interruption

Section-I Fire & allied perils

This Section covers perils covered under Standard Fire Policy including
Earthquake

Exclusions

-Loss of or damage to Livestock, motor Vehicles & pedal

cycle, Money,Jewellery & valuable,Consumables

Condition

of Average- not applicable if Sum insured not

less than 85% of value at the time of loss

Excess-

5% each claim for AOG perils subject to maximum of Rs. 25000/-

Sec.-II Burglary & Housebreaking

Exclusions- Act of any employee or

insureds family member as principal or

accessory,
Loss of or damage to Livestock, motor
Vehicles & pedal cycle,
Loss of or damage to Money, Jewellery
& valuables (unless specifically
declared)

Sec.-III Money insurance

Transit with in 25 KMs (15 MILES)

In till or counter during business hours

Excluded if loss not discovered & notified in 2 days, Account kept in a separate
place

Exclusion- Act

of any employee or
insureds family member,
Loss of cash from safe using Key
Shortage due to error or omission

Sec.-IV

Pedal cycle

Loss or damage due to fire & allied perils earthquake, accidental external
means burglary & housebreaking

Third party liability- Rs.10000/-excluding family member or employee

Exclusion- Use for hire or reward

Mechanical breakdown/ overloading

Loss of accessories unless cycle is stolen

Loss not exceeding Rs.10/-

Racing/ pace making (if left unlocked)

Sec.-V

Plate Glass

Loss or damage to fixed plate glass by accidental breakage

Exclusions- During removal alteration/ repair

Breakage of lettering alone

Scratching /disfiguration/Damage without fracture

Breakage of glass not securely fixed

Damage to frame or framework

Consequential loss

Sec.-VI
Loss

Neon /Glow sign

or damage to sign by accidental

external means & fire& allied perils &
theft (not of parts)
Exclusions- Fusing/burning of bulb/
tubes, From short circuit arcing/
electrical / mechanical breakdown
Action of Sun/rain/Hail/Bad weather
Loss during cleaning repair/ removal

Sec.-VII Baggage

insurance

Loss of or damage to personal or Baggage in connection with trade

accompanying insured or employees(misfortune/acci)

Exclusions- Money, documents jewellery & valuables, trade samples

Electrical & electronic items by short circuit or overrunning/overheating
Travel tickets ,theft from car
Edible articles, with in municipal limits

Sec.-VIII Personal Accident

Benefit

policy-Sum insured-depending
on income from gainful employment (25
months for table A & 72 months for
other Tables)
Death with in 12 calendar months
Carriage of Dead body 2% of S.I./1000
Cum. Bonus if renewed with in 30 days

Sec.-IX ,X ,XI

Sec.-IX Fidelity Guarantee -Loss should have been discovered within 6 months
of death/dismissal/ retirement/expiry of pol

Sec.-X Public Liability

Sec.-Xi Loss of profits

Interruption of business due to perils covered under I-B

Full working days lost

X S.I. under I B

Full working days (annual)

Limitations of SKI policy

Limit of Sum insured in Money
insurance
2. Larceny & theft not covered
3. Lack of cover against Machinery
breakdown
4. Policy can not be given for shops
dealing in hazardous goods
1.