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Small and Medium Enterprise (SME) Insurance Package

SME Package Policy for Office, Shop and other Businesses

Bharti AXA offers a suit of package policies to take care of all your insurance requirements. Be it an Office, Shop or Small and Medium Enterprise (SME) we have the readymade solution for you. Now you can customize your insurance to your business needs with our SmartPlan Package policy.

Smartplan Office Insurance Policy Package

This is a package policy with comprehensive coverage in 13 sections that covers not only loss or damage to property insured but also legal liability to third parties incurred in the course of business at the premises as well as personal accident coverage. This policy is provided to premises occupied as office with maximum sum insured of Rs. 15 crores under Property Damage section.

Smartplan Shop Insurance Policy Package

Our one stop and affordable solution for all small shops with sum insured up to Rs. 5 crores. Coverage in 12 sections (excluding Fire loss of profit) includes loss or damage to property, breakdown of mechanical and electrical appliances in the premises, legal liability to third parties incurred in the course of business at the premises, infidelity and dishonesty of employees and personal accident cover.

Business Insurance Policy Package

Our specially designed package policy that answers all the insurance requirements of SMEs. This policy can be provided to Industrial and Manufacturing units, Hotels, BPO's and Call Centers up to a maximum sum insured of Rs. 100 crores. Coverage includes property damage, business interruption, breakdown of mechanical and electrical items, burglary, infidelity and dishonesty of employees and legal liability to third parties incurred in the course of business at the premises.


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.

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.

Already included in Section III

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. Already included in Section III

Section VI -Burglary and housebreaking

This section offers cover for items of property in the office premises against burglary, house breaking and theft. Already included in Section III

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.

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/-.

Already included in Section III

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

This is not an exhaustive list.

For further details and quotation, talk to us today at 1800-103-2292 (Toll free) or visit one of our branches

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