Commercial Property Insurance

In India, if your total value at risk is up to ₹5 Crores, you are covered under the Bharat Sookshma policy. If it is between ₹5 Crores and ₹50 Crores, it falls under the Bharat Laghu policy. These policies have standardized terms across all Indian insurers.

Yes. Coverage for STFI (Storm, Tempest, Flood, and Inundation) is a standard part of these policies. Given the increasing frequency of urban flooding in India, this is one of the most commonly claimed sections of the policy.

Yes. RSMD (Riots, Strikes, and Malicious Damage) is a standard inclusion in Indian commercial property policies. This is important for businesses located in areas prone to civil unrest or industrial strikes.

Most Indian businesses choose Reinstatement Value. Under this option, the insurer pays the cost of replacing the damaged property with a new one of the same kind, without deducting depreciation for age or wear and tear. Under Market Value, depreciation is deducted at the time of claim settlement.

Standard policies primarily cover the main building. You must specifically declare and include the value of compound walls, fences, and gates to ensure they are covered against risks such as storms or vehicle impact.

You can still insure the building. In India, it is common for factories in industrial zones like GIDC, MIDC, or RIICO to be on leased land. The policy should clearly reflect your insurable interest in the structure.

Terrorism cover is usually available as an optional add-on in India and is managed through the Indian Market Terrorism Risk Pool. Many banks require this add-on when sanctioning business loans.

Yes. RSMD (Riots, Strikes, and Malicious Damage) is a standard inclusion in Indian commercial property policies. This is important for businesses located in areas prone to civil unrest or industrial strikes.