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Home > Products > SME Insurance > my:business Commercial Establishment Insurance
 
   
  Commercial Establishment Insurance
 

For a commercial establishment, even as you strategize and work towards the expansion of the business, you need to ensure the protection of your premises, assets and people. L&T Insurance understands this, and offers you a policy that covers all the risks unique to your setup, allowing you to focus on growing your business.

my:business Commercial Establishment Insurance from L&T Insurance is especially designed to cover the insurance requirements of small and medium commercial establishments like Offices, Banks, Clinics, Small Hospitals, Show Rooms and Display Centres. It offers wide Sum Insured options ranging from Rs. 5 Lakhs to Rs. 10 Crores that are spread across 16 unique plans. The policy is pre-underwritten which means that you get hassle-free, on-the-spot acceptance of your insurance covers. You get host of insurance covers bundled together making it very convenient for you to renew it year after year.

Key benefits of my:business Commercial Establishment Insurance
  • Complete and comprehensive coverage
  • Innovative additional benefits at no extra cost
  • Cover for additional expenses of rent for alternate accommodation
  • Free Replacement of locks
  • Attractive discounts based on the numbers of covers opted for ranging from 5% to 15%
  • Loyalty bonus on renewals ranging from 5% to 15%
  • 10% waiver of Underinsurance under Standard Fire and Special Perils Cover
  • Quick and hassle free claim settlement
my: business Commercial Establishment Insurance ensures that you are well protected by offering you an insurance cover for your Movable and Immovable Assets, Third Party Liability, Financial Loss and Employee Benefits.
STANDARD COVERS

These are the compulsory insurance covers that are in-built in your policy.

1. Standard Fire and Special Perils –This covers your property against any damage and or destruction of property due to fire and other perils such as – lightening, explosion/implosion, aircraft damage, riot/strike/malicious damage, storm/typhoon/hurricane etc. Additional Benefit at no additional cost for all plans

  • Earthquake (fire and shock) – This covers your property against damage caused by fire and shock arising due to an earthquake.
Additional Benefits at no additional cost for policy with Sum Insured of Rs. 50 Lakhs and above
  • Rent for alternate accommodation –This covers your expenses towards the rent for alternative accommodation in case of loss or damage to your property.

2. Burglary and housebreakingThis covers your insured property against loss or damage caused by violent and forcible entry and/ or exit from the said property.

Additional Benefits at no additional cost for policy with Sum Insured of Rs. 50 Lakhs and above
  • Replacement of locks – This covers the cost involved in replacing locks of external doors or safes fitted in the premises and almirahs that are damaged due to the use of force.
3. Public liability – This covers your legal liability against claims made by any third party over damage caused to his/her property or a physical injury to him/her at your business premises.
 Additional Benefits at no additional cost for policy with Sum Insured of Rs. 50 Lakhs and above
  • Medical payments as per limits following Third Party liability as per occurrenceThis covers medical expenses claimed by a third party due to an accidental bodily injury at your place of work.
  • Food and Beverage ExtensionThis covers your legal liability against claims arising due to death/ bodily injury and/ or damage or loss of property caused by foreign and harmful matter in food and beverages served at your premises.

  • Lifts, Hoists, Escalators and ElevatorsThis covers your legal liability for death/ bodily injury and/or damage or loss of property arising out of the use of any lift, hoist, escalator or elevator being utilized by members of the public in the premises for which you are responsible.
CUSTOM COVERS

These are optional insurance covers that can be availed on the payment of an additional premium.
1. Machinery Breakdown – This covers your machinery against mechanical/ electrical breakdown.

2. Electronic Equipment –This covers your electronic equipment such as computers and audio visual equipment against any physical or accidental loss or damage to the same. Dish Antennae and portable systems such as laptops and notebooks are excluded from this cover.

3. Plate glass – This covers ordinary plain glass that does not have any embossing, lettering, silvering, bending or ornamental designs against accidental physical loss, damage or destruction occurring at the business premises.

4. Neon Signage – This covers your neon signage against accidental physical loss or damage. It also covers third party liability against accidental bodily injury/death and property damaged including legal cost.

5. Money Insurance –This covers loss of money while it is being carried by authorised permanent employees of your establishment or loss of money kept in a safe, till or counter caused by burglary, hold up or robbery. 

Additional Benefits at no additional cost for all plans

  • Assault cover for cash carrying employees – This covers the permanent employees of your company entrusted with carrying cash against an assault resulting in permanent disability or death or any injury that prevents him/her from performing his regular duties.

6. Baggage – This covers personal baggage belonging to you or your employees against loss or damage while travelling.

7. All Risk –This covers your portable equipment against any loss or damage caused by fire, theft or accidental damage from any uncertain event.

8. Fidelity Guarantee Insurance – This covers you against any direct financial loss suffered on account of fraud, dishonesty or misappropriation by your permanent employees.

 9. Personal Accident Cover – This cover pays you and your employee or nominee in the event of unfortunate death or permanent total disability caused due to an accident covered under the policy.
Additional Benefits at no additional cost for all plans

  • Accidental Hospitalization following accidents – This provides cover to you and your employees for hospitalization caused due to an accident that occurs during working hours.

10. Hospital Cash – This provides you and your employees daily cash in case of minimum 24 hours of hospitalisation caused due to an injury, disease or sickness covered under the policy for maximum 30 days.

11. Group Health Cover – This provides cover to you and your employees for expenses incurred towards hospitalisation, pre and post hospitalisation, domiciliary hospitalisation and day care treatment incurred for any sickness, disease or injury covered under the policy. 

12. Terrorism cover – This covers your property against physical loss or damage caused due to an act of terrorists or by government forces suppressing the terrorists.

POLICY EXCLUSIONS
Some of the major exclusions are:
    • Any property of "Kutcha" construction
    • Warehousing risks of godowns on standalone basis
    • Breakdown cover of machinery more than 7 years old and other electronic equipment more than 5 years old
    • War and War like activities
    • Nuclear waste and nuclear weapon damages
    • Terrorism unless opted for under the policy
    • Wilful act or wilful negligence of the Insured or his representative
    • Loss of money arising on account of shortage due to error or omission
    • Consequential loss and legal liability arising from such error or omission
Note: For a detailed list of exclusions, terms and conditions please refer to the Policy Document and General Terms and Conditions annexed thereto.
 
General Terms & Conditions
Policy Wordings
Proposal Form