Terms and conditions
The Bharat Sookshma Udyam Suraksha policy offers coverage to the property related to your business. The insurer agrees to cover the loss suffered for damage to buildings and structures, fittings and fixtures, plant and machinery, stocks, and other assets related to the business under the policy. You can avail the policy if the total value at risk across all insurable asset classes at one location does not exceed Rs.5 crore at the time of policy commencement.
Buying a Bharat Sookshma Udyam Suraksha policy ensures that you are covered for any physical loss, damage or destruction to the structures, plant and machinery, stock and other assets related to your business.
A Bharat Sookshma Udyam Suraksha policy can be bought by anyone who has property pertaining to business. The policy can be availed by the following -
Owner of the property
Tenant of the property
Lessee or purchaser of the property
Person who holds it as trustee on commission
Person who is responsible for the property and liable for availing insurance
The insurance policy offered by Digit offers coverage for loss or damage to property under the following
Physical losses caused to the insured property because of fire which includes spontaneous combustion or due to natural calamities like earthquake, storm, flood, landslides etc. are covered under the policy.
Damage caused to the property or its contents due to explosion or implosion is covered by the insurance policy.
Damage caused to the property due to impact or collision with any external physical object like vehicle, wall, falling trees etc. is covered by Digit’s Bharat Sookshma Udyam Suraksha policy.
Physical damage to the property which is caused due to riots, strikes, and missile testing operations are covered under the policy.
The policy also offers coverage for theft reported within 7 days from occurrence and proximately caused by any of the covered insured events.
Digit’s Bharat Sookshma Udyam Suraksha policy does not offer coverage for -
Loss or damage caused by burning of insured property by order of any public authority.
Damage caused to boilers, economizers or other vessels in which steam is generated because of explosion/implosion or caused by centrifugal forces.
Destruction caused to the insured property by normal cracking, settlement of new structures, movement of made-up ground, river erosion, use of defective materials, etc.
Damage caused by vehicle, aircraft or animal that belong to or owned by the Insured or because of pressure waves caused by aircraft or aerial devices travelling at sonic or supersonic speeds.
Destruction caused by total or partial cessation of work or the retardation/interruption/cessation of any process/operations/omissions.
Physical loss caused by temporary/permanent dispossession of any building by unlawful occupation by any person.
Defects in the construction known to you or repairs/alterations in the building or repairs, removal, or extension of any sprinkler installation.
The payable premium of Bharat Sookshma Udyam Suraksha policy depends on factors like -
The premium which you need to pay for the policy depends on the nature of the business. The payable premium for the policy will be high based on the nature of business.
The amount of sum insured also impacts the premium you need to pay for availing a policy of Bharat Sookshma Udyam Suraksha policy. A high sum insured will result in a higher premium.
The risk profile of the enterprise also plays an important part when the premium is calculated. If the profile of the enterprise is highly risky, the payable premium will be high and vice versa.
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CIN: U66010PN2016PLC167410, IRDAI Reg. No. 158.
Go Digit General Insurance Limited (formerly known as Oben General Insurance Ltd.) - Registered Office Address - 1 to 6 floors, Ananta One (AR One), Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579, Shivaji Nagar, Pune-411005, Maharashtra | Corporate Office Address - Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru-560095, Karnataka