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One can not simply overlook the utmost power and impact of commercial business insurance, until and unless he is a superhuman. Even the successful businesses like Reliance and Apple don't stand without insurance for keeping their resources protected and secured. A business is said to be successful, when they have the ability to withstand any failure and regain their previous status like it has before.
It's a famous saying that man may come and man may go but what exactly let the man to lift his business back again is its insurance and his will of course.
Below mentioned are some of the benefits that will help you to understand the basic of business insurance for you and your loved ones:
Business Insurance Policy
Effective risk management is the key to a successful business. Our comprehensive commercial product line is aimed at multi-type and multi-size businesses. We offer products that match your personal and business needs and provide you a perfect protection cover.
Business Insurance protects your business from unexpected events, life fire, financial crisis, and many others. Know everything about business insurance, types of importance, and claim process in India.
Types of Commercial Insurance Policy:
Common commercial insurance types include property, workers, and liability compensation. The types of policies depend on the business and most insurers will have special packages for businesses that fall under their solutions purview.
Property Insurance
This is one of the most common types of commercial insurance. The policies cover damages to your commercial properties. For instance, a fire damaging your office space will be covered under such policies.
Shopkeeper's Insurance
This type of policy covers damage to shop buildings and contents, housebreaking, burglary, cash insurance, bicycles, signboards, baggage, personal accident, liability, etc. as per policy wordings.
Marine Insurance
These policies deal with coverage for marine cargo risks for industries such as oil and gas, power generation, wind power, paper and pulp, steel mills, infrastructure, machinery upgrades, and so on.
Liability Insurance
These policies are aimed at large multinationals looking to offset business liability risks in diverse locations around the world. The policy will typically cover bodily or personal injury and infrastructure damage, product liability, clinical trials, product recall, workers compensation, etc.
Engineering Insurance
Engineering and construction covers are offered under such a policy. The policy covers defined engineering risk classes including oil and gas, power, heavy industries, constructions, transportation systems, etc.
Energy Insurance
These policies offer flexible covers for challenging onshore and offshore industries and provide comprehensive cover including downstream, midstream, and upstream assets and operations.
Employee Benefits Insurance
These policies will ideally provide health insurance coverage to employees of organizations such as group health insurance or group personal accident plans.
International Insurance
These policies provide customized services that address cross border issues of companies while considering the fiscal and regulatory framework of the region where they are operating.
Plate Glass Insurance
The policy will cover damages to plate glass or store windows in the event they are broken. Generally observed at the time of physical riots, whenever a sudden outrages of the riots is being observed. It is seen that the person or the people who is present there will not
Aviation Insurance
These policies typically provide cover for all types of aircraft such as small aircraft or private jets against disappearance, total loss, etc. The policy also covers damages to equipment, tools, or supplies of the company, apart from dangers arising out of war and other acts of aggression. Crew members are also covered under such policies.
Bankers Indemnity Insurance
These policies are aimed at banks and cover all branches of a particular bank in the country. The policies offer cover against cash or securities lost on-premises, in transit, forgery, dishonesty, hypothecated goods, registered postal losses, and appraisers, among others.
These insurance will help you to get your business protected and secured from any unseen mishap that can happen to your business.