Property / Assets Insurance

Property/Assets insurance refers to a series of policies that offers financial protection against losses incurred on property due to physical damage caused by fire, storm, earthquake, Lightning, collision, impact damage, theft and any other means as per the applicable insurance wordings available in the market.

Property / Assets insurance can include building insurance, plant and machinery insurance, others assets insurance as per the needs.

Classifying on the basis of indemnity, the three types of property insurance coverage are reinstatement value, market value and agreed value.

Classifying on the basis of a category of an asset and value of cover or sum insured, types of insurance available are:

• Bharat Griha Raksha - Residential Premises

• Bharat Sookshma Udyam Suraksha - Commercial Premises valuing up to INR 5 Crores

• Bharat Laghu Udyam Suraksha - Commercial Premises valuing more than INR 5 Crores and up to INR 50 Crores

• Standard Fire & Special Perils Insurance - Commercial Premises valuing more than INR 50 Crores

• Industrial All Risk Insurance - Commercial Premises valuing more than INR 50 Crores and up to INR 2500 Crores

• Mega Risk Insurance - Commercial Premises more than INR 2500 Crores