Warehouse Insurance

Warehouse Insurance

Factory and warehouse insurance hold ample importance in terms of offering great benefit in an industrial set up that is used for manufacturing and storage of goods. Factory and warehouse insurance policy in India provides coverage against any monetary loss resulting from any damage of goods, machinery or building in and outside of the premises. Factory and warehouse insurance policy in India is particularly designed to cover all your contents and stocks against a choice of risks like fire, implosion, explosion, natural calamities like storm, flood, earthquake etc. There is also additional factory & warehouse insurance coverage like theft & burglary, electronic & mechanical breakdown, money insurance and all risk laptop insurance which can also be covered under factory insurance policies.

The factory and warehouse insurance coverage depends on the type of policy you choose to buy. Here’s the list of various factory and warehouse insurance plans below.

  • Comprehensive Cover: This plan includes all types of covers available for factory & warehouse premises.
  • Floating Policy: This factory & warehouse insurance policy is issued when same property frequently changes its location.
  • Valued Policy: This policy can be issued for materials for which market value cannot be ascertained.
  • Specific Policy: This factory & warehouse insurance coverage provides cover only up to a specific amount, usually lesser than the property valuation.
  • Replacement & Reinstatement Policy: This policy pays for the cost of replacement or reinstatement of the insured asset.

Need for Warehouse Insurance Policy

Businesses in which majority of the functions are dependent and happens in multiple warehouses may consider buying a warehouse insurance. It covers natural calamity, fire, and similar unforeseen situations. Moreover, you can get the compensation against human-made hazards like theft and burglary.

There are several factors that warehouse and factory owners must consider when it comes to safety – a thorough assessment of risk, steps and plans to deal with risks, eliminate risks or reduce the effect of risks.

Damages and losses related to risks to factory/warehouse can be mitigated by the simple solution of having the right insurance coverage. If this gets you pondering as to which insurance should you purchase for a factory or a warehouse, then you are reading the right article? It’s the Factory/Warehouse Insurance that can cast the perfect safety net for your company’s warehouse or factory.

What it covers?

  • Comprehensive Cover: Includes all types of covers available for Factory & Warehouse premises
  • Valued Policy: Issued for materials for which market value cannot be ascertained
  • Floating Policy: Issued when same property frequently changes location
  • Replacement & Reinstatement Policy: Pays cost of replacement or reinstatement of the
  • Insured asset
  • Specific Policy: Provides cover only up to a specific amount, usually less than the property value

What’s not covered?

  • Short Circuiting: Any mishap including fire due to short circuit is not covered in the policy.
  • Deterioration: As we know everything has a time limit and depredation is a natural process, hence the gradual deterioration of the machinery or the loss due to seepage and pollution over the years is not covered under this insurance.
  • War & Allied Perils: Any damage to the factory or the warehouse due to an ongoing war or an event which is caused by an ongoing war is excluded.
  • Radiation Damage: Damage to equipment or goods due to radiation and ionization.

For registration of claims and to learn more about our claims process please Contact our dedicated claims team for advice on an incident/claim.

Why Us?

At Emedlife, our products are value for your money, digitally friendly, covers all your property needs and are adept at handling all your claims

Talk to us today for all your Property Insurance needs at an affordable price and for reliable claims management.

For registration of claims and to learn more about our claims process please Contact our dedicated claims team for advice on an incident/claim.

D&O Policy protect company director or officer from legal liability arising out of actual or alleged wrongful acts in managing a company.

  1. The policy covers a wide range of litigation that could arise from customers, vendors, shareholders, employees.
  2. In addition to defence cost, it provides cover for :
  3. Investigation Cost
  4. Entity Protection against Employment Practice Liability claims
  5. Outside Entity Directorship cover,etc.

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