Protect your Merchants with affordable Shop Insurance

What is Shop Insurance?

Shop Insurance is a type of property insurance policy designed to
cover for a shop’s property and the contents kept inside.

Why is a Shop Insurance important?

• Coverage Against Unexpected Losses - Unplanned expenses
can give anyone financial trouble. To avoid such crunches and
secure your earnings a shopkeeper’s insurance comes in handy.
• Coverage Against Unforeseen Circumstances - Safeguard
your shop against all unforeseen losses and damages such as fire
and natural calamities.
What are the USPs of Shop Insurance?
Product USPs Covered Process USPs
✓ Lowest Price for Max. Coverage ✓ Physical loss Shop Assets ✓ Minimal Data Required
✓ Digital Claim Process ✓ Burglary ✓ Paperless & Digital
✓ Inbuilt & add on coverages. ✓ Riots, Malicious Act ✓ No physical Survey
✓ Time saving purchase. ✓ Fire ✓ 24*7 Support
✓ Under Insurance Waiver ✓ Natural calamity ✓ Fast & Smooth Settlement

What are the Categories Covered under Shop Insurance?

Super Market Restaurants Small Classrooms Book Shop Toy Shops
Offices Salon & Spa Clinics Laundry Electrical
Grocery Store Food Truck Bakery Photo Studio Gift Shop
Footwear shop Home Décor Pan Shop Eye wear Shop Tailor Shop

What are the USPs of Shop Insurance?

Sum Insured ₹3 Lakh ₹5 Lakh ₹10 Lakh ₹25 Lakh ₹40 Lakh ₹50 Lakh

Price (Incl. GST) ₹ 399 ₹ 649 ₹ 1,299 ₹ 3,249 ₹ 5,199 ₹ 6,499

➢ Insurance Coverage Calculation Formula: Total Products available in the store X cost price
➢ Example: A merchant has Total Products in his store = ~1150 & Average cost is ₹700.
➢ Total Stock Value is → 1150 X ₹ 700 = ₹8.05 Lakh. Hence, this merchant needs Insurance coverage of ₹10 Lakh @ ₹1,299

How to Claim Shop Insurance?

For Intimation - Call on 1800-258-5956 or E-mail: NonMotor.Claims@godigit.com
For Assessment - Live call or uploading link will be shared to upload video & photos
For Settlement - Receive the cleared claim within 7-to-10-day post document submission

What are the Steps to Buy Shop Insurance?

1. Open the P4B app & Click on the Shop Insurance Icon
2. Select your cover & fill details - Owner’s name, Shop name, Contact details, Email ID & Employee code in Remarks!
3. Click on Proceed to Pay & Pay the amount.

What are the Exclusions (Indicative List) for Shop Insurance?

➢ Construction Type - Kucha construction, Basement Shop, Shops with tin metal, Grocery Shops/ supermarkets with
plinth height of less than 1.5ftz, Shops used as store or godown only.
➢ Based on Type of Shops/ merchants - Automobile Workshops Motor Vehicle Dealers, Battery Show Rooms,
Chemical shops, Firecracker Shops, Gas Stations & Petrol Pumps, Jewellers, Money Lenders, Painting Workshops
➢ Type of claims not admissible - Theft, Larceny Excluded, any deliberate, wilful, or intentional act, Loss,
destruction, or damage to stocks in cold storage due to change in temperature, War, invasion, war-like operations,
➢ Based on Type of goods - Celluloid Goods, Coir goods, Coir Loose, Explosives of any kind, Hay/Straw, Disinfectant
liquids and liquid insecticides-other than in sealed tins or drums, Vegetable fibres of any kind including Rayon Fibre

What are the Important points for Shop Insurance?

1. Waiting period of the policy is 15 days.
2. Educate the insured about the difference between theft & burglary as theft is not covered.
3. Educate about the claim intimation process (Toll Free No., Email Ids Etc.) to reduce the delay in claim intimation.
4. Insured should not dispose of any loss material before loss inspection,
5. If insured are facing challenges in getting FIR done, they may go for an E-FIR.
6. Cash is not covered as per policy.