Office Package Policy

An office package policy is a flexible policy specifically designed to meet the insurance needs of today’s modern offices, irrespective of the number of locations across India.

This policy is suitable for all types of offices where administrative functions and not trading of physical assets are performed. These could be corporate offices, computer training centres or consultancy offices of professionals like lawyers, architects, travel agents, tax-consultants, insurance brokers and chartered accountants, IT / ITES, Commercial Establishments, Government Offices, Software Development Centres, Manufacturing Setups etc
Type of Insurance What is covered
Fire and special perils: Building and contents Covers the loss or damage to the building and/or contents caused by the risks of fire, lightning, explosion/implosion, aircraft damage, riot, strike and malicious damage, storm, cyclone, typhoon, tempest, hurricane, tornado, flood And inundation, impact damage, subsidence and landslide including rock slide, bursting and/ or overflowing of water tanks, apparatus and pipes, missile testing operations, leakage from automatic sprinkler installations, bush fire, earthquake (optional), terrorism (optional).
Burglary and Housebreaking Provides protection against the loss or damage to the building and/or contents due to the risks of burglary and/or housebreaking.
Business interruption (Fire loss of profit of FLOP) Provides cover against the loss of income following the loss or damage by standard fire and special perils.
Electrical and Mechanical appliances Protects electrical and mechanical appliances in the office premises against any accidental mechanical or electrical breakdown of such appliances
Electronic Equipments Protects electronic equipment’s in the office premises against any losses or damages caused by any unforeseen and sudden physical events.
Portable Equipment Covers the loss or damage to portable equipment’s like laptops by fire, riot and strike, theft or any accidental external means or from any fortuitous causes.
Money (money in transit /money in safe / money in counter) In business, transferring the money from one place to another often causes anxiety for everyone. Losses during-money in transit between the insured premises and specified bank and vice versa, money in safe, money in counter are covered.
Public Liability Any claims arising out of the third parties bodily injury or property damage occurring in your premises will be covered.
Workmen compensation Protects you from the liability towards your workmen under the Workmen Compensation Act, fatal accidents act and at Common Law
Personal accident Covers you or your employees, in case of Accidental Death, Permanent Total Disablement, and Permanent Partial Disablement up to specified limits.
Neon sign / Glow sign Covers accidental damage to neon sign / glow sign by fire, lightening, external explosion, theft, riots, strike and natural calamities, accidental external means.
Fixed plate glass Covers accidental damages to fixed plate glass, frames, and frameworks.
Baggage Covers accidental loss of your personal baggage while traveling anywhere in India beyond 25 km radius of the insured premises.
Infidelity / dishonesty of employee Employees are our greatest assets. Yet you face instances where your employees cheat you. Any direct loss caused by acts of frauds committed by any salaried employee in the insured premises are covered.

What are some of the Exclusions under the Office Package policy?

Some of the exclusions are below, please refer to the insurer’s terms and conditions for the complete list of exclusions.
  • Loss or damage due to wear and tear, gradual deterioration or slowly developing flaws
  • Loss or damage for which the manufacturer or supplier or repairer or transporter or any other third party is responsible either in law or under a contract
  • Loss of or damage caused by or due to action of any lawfully constituted authority or Government body
  • The loss or damage due to war and / or warlike perils, nuclear and / or atomic radiation.
  • Under insurance- if the actual value of the insured property at the time of loss under the fire is found to be greater than the sum insured chosen, then the claim would be proportionally reduced

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