Shop Insurance Policy Online Starting ₹530/year*
What is a Shop Insurance?
Shop Insurance is a type of property insurance policy designed to cover for a shop’s property and the contents kept inside. At Digit, our shop insurance covers for fire and natural calamities such as floods and earthquakes through our Bharat Sookshma Udyam Suraksha policy (IRDAN158RP0080V01202021).
However, since properties like shops are always at a risk of burglary, we also offer a separate burglary policy i.e., Digit Burglary Insurance Policy (IRDAN158RP0019V01201920) in combination with Shop Insurance. This way, your shop isn’t only protected from fires and natural calamities but also from damages and losses that could occur due to a burglary.
Why is a Shop Insurance important?
What’s great about Digit’s Shopkeeper Insurance Policy?
What’s Covered in Shopkeeper's Insurance by Digit?
The Shop Insurance policy offered by Digit offer the following coverages
What's not Covered?
Digit’s Shop Insurance policy will not offer coverages for the following
Any deliberate, willful or intentional act by anyone is not covered
Any consequential losses aren’t covered
Mysterious disappearances and unexplained losses will not be covered.
Additional valuables like curios, work of art or unset precious stones will not be covered.
Machinery breakdowns that aren’t a result of a natural calamity, fire, explosion, implosion, etc. will not be covered.
Losses caused due to war, or nuclear disaster will not be covered
Types of Shop Insurance Plans
Covers only contents of your shop.
Covers both your shop building and contents of your shop.
Covers your building.
Things to know about Shop Insurance
- What is ‘content’ in Shopkeeper’s Insurance: Contents in a Shopkeeper’s Insurance refers to the primary items in your shop. For example; if you run a clothing boutique, the contents here would refer to all the different garments you have present in your shop, for sale.
What do you mean by ‘building’ in Shopkeeper’s Insurance: Building in Insurance of Shopkeeper refers to the physical aspect of your store.
How to file a Claim?
After you buy our shopkeeper insurance policy, you can live tension free as we have a simple digital claims process!
Call us at 1800-258-5956 or email us at firstname.lastname@example.org and your loss will be registered with us.
A self-inspection link will be sent to you so you can easily upload photos and videos of the loss incurred at your shop or its contents.
Once you’ve completed the self-inspection process, the damage is assessed and verified and if required (in specific situations where the losses can’t be analyzed digitally), a loss assessor may be appointed.
Depending on the situation, our customer care will let you know if we need any additional documents such as a FIR, non-traceable report, fire brigade report (in the case of fire), invoices, purchase documents, sales reports, etc.
If all is good, and the loss is verified, you will receive payment and compensations for the respective damages and losses.
The payment is processed via NEFT transfer.
Who needs a Shopkeeper’s Insurance policy?
Types of Shops Covered
How to choose the right Sum Insured for your Shopkeeper’s Insurance Policy?
Think about this, in the worst-case scenario (say your shop is damaged beyond repair) what would be the total loss of your business? The answer to that is probably how much you should cover your shop for. The simplest way to put this is, say you have a toy shop and on an average, each toy costs Rs 1,000. The stock quantity available in your shop, is about 1000 pieces. In this case, you should cover for Rs 1,000 x 1000, i.e Rs 10,00,000. Watch the video below for further clarity, if needed.
Note: Fixtures and portable assets like your laptop and phone are not covered in this shop insurance plan, so don’t consider the price of the same while calculating your sum insured.