Office Package Policy

Further to the standard Fire Insurance, a company's premises does need additional cover which protects it from a spectrum of hazards and uncertainties. Bharti AXA offers solutions in this regard.

Offering you total peace of mind

Your office is the face of your business and it is natural you have invested much of your time and money towards building it. But the fact remains, your office is continuously exposed to many risks. An unfortunate event could disrupt the functioning of your office and cause serious financial implication to you and your business. Now you can guard your business against different kinds of risks with the SmartPlan Office Package Policy. It enables you to choose those risks which you want to protect your office against and also determine the extent of cover against those risks.

Presenting the SmartPlan Office Package Policy

This is a package policy with various sections designed to offer comprehensive protection to your office property. You can opt for the sections applicable to your insurance requirement of your office and get a customized protection for your office in a single policy.

What does this policy cover?

Section I - Fire and special perils

This section of the policy covers the office building and contents against perils such as fire, earthquake, impact damage, etc. Cover under this section can be extended to include terrorism risk, if you so desire.

Section II - Fire loss of profit

This section covers losses suffered by you due to interruption with the business carried on at the office premises in consequence of loss, destruction or damage caused by perils covered under Section I. It also provides cover for increased business operating expenses following the loss.

Section III - All risks

This section covers all assets, excluding building and incidental stocks, against all risks other than those specifically excluded. Coverage includes fire and allied perils, mechanical and electrical breakdown, accidental breakage and burglary and/or housebreaking,

In case you opt for this section, Section I of the policy will cover only buildings and incidental stocks; and coverage under Sections IV (Mechanical and Electrical Breakdown), V (Electronic Equipment), VI (Burglary and Housebreaking) and XIII (Baggage) are not required.

Section IV - Mechanical and electrical appliances

This section covers all electrical and mechanical appliances, apparatus, gadgets and any electrical or mechanical installation which is fixed in your office premises against loss or damage due to unforeseen and sudden physical damage caused by mechanical and/or electrical breakdown.
Coverage under this section is applicable only if you do not opt for Section III of the policy.

Section V - Electronic Appliances

This section provides all risk cover for electronic appliances, data processing equipments, apparatus, gadgets, electronic installations, data carrying materials and system software fixed in the office premises.

Coverage under this section is applicable only if you do not opt for Section III of the policy.

Section VI -Burglary and housebreaking

This section offers cover for items of property in the office premises against burglary, houbreaking and theft.

Coverage under this section is applicable only if you do not opt for Section III of the policy.

Section VII - Money insurance

This section covers loss of money
a) while in transit between the office premises and bank due to accident or misfortune
b) from safe at the office premises due to Burglary or Housebreaking
c) from till/counter at the office premises due to Burglary or Housebreaking

Section VIII -Infidelity/dishonesty of employees

This section provides indemnity for loss or damage to the business against direct pecuniary loss caused by dishonest acts of your employees including act of stealing, misappropriation, embezzlement or fraudulent conversion.

Section IX - Fixed glass and sanitary fittings

This section covers loss or damage due to accidental breakage of
a) Fixed plate glass and sanitary fittings contained in the office premises
b) Frames or framework
c) Lettering consequent upon the breakage of glass

Section X - Neon sign/glow sign/hoarding

This section provides coverage to office publicity tools such as neon signs and hoardings against risks such as fire, lightening, explosion, theft, flood, malicious damage, etc.

Section XI - Legal liability

Towards employees - This sub-section provides compensation to the employees under the Fatal Accidents Act 1855/Workmen’s Compensation Act 1923, and in Common Law, for accidental death or injury arising out of and in the course of employment.

Towards third parties - This sub-section covers legal liability to be paid to third parties, including claimant’s costs, fees and expenses incurred anywhere in India, in accordance with Indian Law.

Food and beverage's extension - This sub-section covers legal liability incurred due to death or injury to any third party arising out of any food or beverages served/provided in the office premises.

Tenant's legal liability - This sub-section covers legal liability incurred by you as a tenant of the office premises for damage to the building due to fire and allied perils.

Section XII - Personal accident

This section provides for financial compensation to the insured person in the event of death, bodily injury or disablement due to accident. This can be further extended to cover medical expenses incurred in the event of a valid claim under this section.

Table of Benefits

1. Permanent total and absolute disablement disabling the Insured Person from engaging in any employment or occupation of any description whatsoever. (100%. Disability - Permanent)

2. Permanent Partial Disability

3. Temporary Total Disablement If such injury shall be the sole and direct cause of temporary total disablement, then so long as the Insured Person shall be totally disabled from engaging in any employment or occupation of any description whatsoever, a sum at the rate of one percent (1%) of the Capital Sum Insured under this section hereto per week, but in any case, not exceeding Rs. 5,000/- per week in all, under all policies.

Provided that compensation for temporary total disablement shall not be payable for more than 100 weeks in respect of any one injury calculated from the date of commencement of disablement and in no case shall exceed the Capital Sum Insured.

Section XIII - Baggage

This section covers loss of baggage of proprietor/ partner/ principal officer /an employee who is in the permanent employment of the proposer due to accident or misfortune during an official travel.

Baggage would also include personal articles, belongings and other goods being officially carried during the journey as well as traveling advance up to Rs. 10,000/-.

Coverage under this section is applicable only if you do not opt for Section III of the policy.

What does this policy not cover?

The general exclusions are given below:

• 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
• Apart from the above mentioned standard exclusions, respective policies will have other exclusions applicable to the sections selected.