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A combined insurance solution for small-scale
businesses (e.g. grocery stores, wholesale dealers, distributors,
salons etc.) that offers following classes of insurances under
a single policy:
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1) Fire & Specified
Perils (Property Damage)
Covers property damage consequent to a fire. NAVODA policy-holders
will enjoy following additional perils without any additional
premium: Explosion, Impact Damage, Aircraft Damage, Bursting
and Overflowing of Water Tanks, Apparatus or Pipes, Natural
Perils (including Cyclone, Storm and Tempest, Flood, Earthquake,
Volcanism, Tsunami etc.), Removal of Debris, Loss or Damage
to Personal Property, and Loss of Rent. Electrical fire damage
to electrical installation and appliances could be covered
at an additional premium. NAVODA could be extended to cover
following social perils as well: Riot and Strikes, Terrorism
and Malicious Damage. |
2) Burglary
Under this free extension, loss of or damage to property due
to burglary involving forcible or violent entry/ exit would
be covered. |
3) Legal/ Public Liability
Indemnifies the insured if he becomes legally liable
for third-party Property Damage or Bodily Injury for accidents
that may take within the business premise insured. Policy
provides a free cover up to limits specified in the Schedule. |
4) Plate Glass/ Sign
Boards
Policy could be extended to cover these items against accidental
damages and other named perils at an additional premium. |
5) Personal Accident
NAVODA could be further extended to cover personal injury
to the Owner of the business, i.e. permanent total disability
or even death up to limits agreed in the Schedule. |
6) Workmen’s
Compensation
The conventional workmen’s compensation insurance (as
per Workmen’s Compensation Act 1934 (Amended)) too could
be coupled with this packaged policy, providing cover for
the employees. |
7) Money
Provides a cover for loss of or damage to money whilst in
the business premises or in transit to the bank. This cover
is provided as an add-on at a nominal rate. |
8) Medical
Medical bills of the business owner will be reimbursed up
to limits specified the Schedule. No additional premium in
respect of extension. |
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