Factory/Office Insurance
Factory/Office Insurance
About Factory/Office Insurance
Factory and warehouse Insurance is a valuable benefit in an industrial set up used for manufacturing and storage of goods. It considers any financial loss due to damage of goods, building or machinery in and outside premises.
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
The coverage may vary based on the type of the policy bought:
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Covers Wider Array of Risks
Factory and warehouse insurance policy in India covers damage due to lightning, fire, theft, burglary and a number of natural calamities like earthquake, storm, flood etc.
Easy Documentation
The issuance of factory and warehouse insurance online requires least paperwork.
Comfort to Lenders
Bank clause can be added to stock insurance policy under factory and warehouse insurance online. Lenders are indemnified in case of damage to mortgaged assets.
Indemnification against Increased Expenses
The replacement cost of damaged property as an alternative of the book value can be provided by the factory and warehouse insurance policy in India.
Features of Factory/Office Insurance
All insurance are not created equal, factory loans has become a great option for people to use.
Comprehensive Cover
Offers wide range of insurance cover to your assets across warehouse, factory, and office. Cover available for physical damage to assets, loss of profits due to business interruption, and third party legal liability.
Multiple Location Coverage
A single factory & warehouse insurance policy can cover contents at various locations across the country. Variation in sum assured across locations can be accounted via floater coverage for fire insurance
Customized Cover
We will customize the policy to fit your requirements. You will get assistance from our experts who perform a thorough risk assessment and suggest factory insurance plans suitable to your business needs.
Easy Documentation
Issuance of factory insurance requires minimal paperwork. You could submit the Fixed Asset Register maintained for your book-keeping. Unit wise serial numbers are needed only for portable equipment.
Factory/Office Insurance – Eligibility
Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a Factory/Office Insurance plan.
Age
Maximum age of applicant at loan maturity: 60 years
Income
Minimum Net Monthly Income: Rs 15,000
Credit Rating
Applicant should have the bank specified credit score.
5.0/5.0
by 500000+ clients
