inLÜMEinLÜME
Quote→
Business Insurance

Shopkeeper & Business Insurance India 2026: Everything You've Built Deserves a Safety Net

Fire, flood, burglary, a customer's accidental injury: any one of these can wipe out years of hard work overnight. This is the complete guide to understanding, comparing, and buying the right business insurance for your shop, office, or SME in India.

15 min readinLUME Editorial DeskApril 6, 2026IRDAI Compliant
Skip to article

Get Business Insurance Quotes

Compare 37+ IRDAI-approved insurers in minutes

Call Now→
₹3,000
Typical Annual Premium: Small Shop, ₹20L Cover
4.4L+
Property Crime Cases Registered Annually in India (NCRB)
<10%
Indian SMEs with Adequate Business Insurance Coverage
6 Covers
Bundled in a Standard Shopkeeper's Package Policy
48 Hrs
Window to Intimate Insurer After a Loss Event
There are over 6.3 crore registered MSMEs in India. Fewer than 10% of them carry adequate property insurance. The reason is part ignorance, part misplaced confidence: "it won't happen to me": and part a genuine lack of clear, jargon-free information on what business insurance covers and what it costs. This guide exists to fix all three problems. If you own a shop, office, restaurant, warehouse, or any commercial establishment, what follows applies directly to you.
01

The Business Insurance Landscape: What Policies Actually Exist?

types of business insurance India fire insurance vs shopkeeper policy commercial insurance for shops SME insurance products India

Before you can buy the right policy, you need to understand the commercial insurance landscape in India. Most shop owners have heard of "fire insurance" and "burglary insurance": but the product categories have evolved significantly. Today, there are four main routes to insuring a shop or business, each suited to a different size and risk profile.

Policy Type What It Covers Best Suited For Typical Annual Premium Verdict
Standard Fire & Special Perils (SFSP) Fire, lightning, explosion, flood, cyclone, RSMD, subsidence. Building and contents only. Property owners; buildings with significant asset value ₹1,200 – ₹4,000 (₹20L SI) Essential baseline for all property owners
Burglary & Theft Insurance Theft of stock, cash, fixtures, and equipment following forcible entry. Housebreaking included. Shops with high-value stock or cash-in-counter ₹800 – ₹2,500 (₹10L SI) Must-buy for retail; cheap for the protection
Shopkeeper's Package Policy Fire + Burglary + Plate Glass + Money + Neon Sign + Personal Accident: all in one. Small to medium retail shops, kirana stores, boutiques, electronics shops ₹3,000 – ₹12,000 (₹20L SI) Best value for most shop owners
Business Owner's Policy / Commercial Package All of the above + Business Interruption + Public Liability + Fidelity + Electronic Equipment Mid-size businesses, offices, restaurants, manufacturing units, warehouses ₹15,000 – ₹80,000+ (₹50L–₹2Cr SI) Comprehensive; essential for businesses with employees or customers on premises
Why Most Shop Owners Should Start with the Shopkeeper's Package
Buying fire, burglary, plate glass, and personal accident policies separately adds up to 30–40% more in premium than a bundled shopkeeper's package: for identical coverage. The package policy is how insurers make business insurance accessible to India's 6+ crore kirana and retail shop owners, and it's almost always the best-value starting point.

Understanding how IRDAI classifies business risks is also important. Your trade category directly affects your premium rate:

Business Category Examples Fire Risk Rating Burglary Risk Rating Notes
Low Risk Grocery/kirana, bookshop, stationery, clothing, footwear Low Medium Standard rates apply
Moderate Risk Electronics, pharmacy, hardware, furniture, auto parts Medium High Premium loading of 15–30% typical
High Risk Jewellery, chemicals, LPG dealer, crackers, paint, solvent High High Significant loading; may require risk survey
Special Risk Chemical warehouse, fuel station, cold storage, hospital Very High High Tariff rates; mandatory risk inspection
02

Anatomy of a Shopkeeper's Package Policy: Section by Section

shopkeeper package policy sections fire insurance what is covered burglary insurance coverage India business insurance sections

A well-designed shopkeeper's package policy is not one policy: it's six or more policies threaded into a single document under one premium. Understanding each section individually lets you calibrate coverage intelligently, rather than just accepting whatever a bank or insurer bundles together.

The Six Core Sections of a Shopkeeper's Package Policy

Every major section addresses a distinct category of risk. Each section has its own sum insured, exclusions, and claim process.

Section I
Fire & Allied Perils
Building structure, furniture, fixtures, stock-in-trade. Covers fire, lightning, flood, cyclone, RSMD, explosion, aircraft damage.
Section II
Burglary & Housebreaking
Loss or damage to contents and stock due to forcible and violent entry or exit. Includes attempted burglary damage to premises.
Section III
Money Insurance
Cash in safe (24×7), cash in counter (during business hours), and cash in transit to/from bank: against theft, robbery, and hold-up.
Section IV
Business Interruption
Loss of gross profit and standing charges during closure caused by a covered physical loss. Indemnity period typically 6–24 months.
Section V
Public Liability
Third-party bodily injury or property damage occurring within shop premises: customer slip-and-fall, falling merchandise, electrical accidents.
Section VI
Personal Accident
Death or permanent disability of the insured shop owner due to an accident. Typically ₹5–15 lakhs cover included in most packages.
The Section You're Most Likely Ignoring
Business Interruption (Section IV) is the cover that most shop owners either don't know about or deliberately drop to reduce premium. This is a serious mistake. A fire in your shop doesn't just cost you the repair of damaged goods: it costs you every rupee of revenue you lose while the shop is closed for 4–12 weeks during restoration. For a shop doing ₹5 lakhs/month, a 2-month closure is a ₹10 lakh revenue hit that fire insurance alone does not compensate.

Understanding what is excluded from each section is equally critical. The most common exclusions that surprise shop owners at claim time:

Flood vs Inundation

Standard SFSP covers inundation (overflow of water bodies) but not flood damage in basement storage unless specifically endorsed. If your stock is stored at ground level or below in a flood-prone city, verify this exclusion explicitly.

Electrical Short Circuit

Fire caused by electrical short circuit is covered. But damage to the electrical equipment itself from short circuit: without a resulting fire: is excluded. Electronic equipment cover is a separate add-on (Section: EEI).

Employee Theft

Burglary insurance covers theft by external parties only. Theft, pilferage, or fraud by employees: however large: is entirely excluded and falls under Fidelity Guarantee Insurance, a separate policy section.

Stock Valuation Disputes

For stock-in-trade claims, insurers require documentary proof: purchase invoices, stock registers, and GST returns. Claims unsupported by books of account are subject to severe haircuts, sometimes settled at 30–40% of claimed value.

Unforced Burglary

Burglary insurance requires evidence of forcible and violent entry or exit. Theft that occurs without visible signs of breaking in: a forgotten open window, an inside job, a duplicate key: is typically not covered. The FIR must mention forced entry.

Vacant Premises

If your shop remains vacant for more than 30 consecutive days, coverage under both fire and burglary sections may be suspended. Inform your insurer of any extended closure: seasonal businesses must endorse this on the policy.

03

How to Calculate the Right Sum Insured: Get This Wrong and You're Underinsured

how to calculate sum insured for shop reinstatement value vs market value fire insurance underinsurance average clause India business insurance sum insured calculator

Underinsurance is the silent epidemic in Indian commercial insurance. A shop owner buys a ₹10 lakh fire policy for assets actually worth ₹25 lakhs: either to save on premium or because they never properly valued their assets. Then a fire occurs. This is when they discover the Average Clause: one of the most consequential principles in property insurance that almost nobody explains upfront.

The Average Clause: The Penalty for Underinsurance
Under the Average Clause (Section 64VB, Insurance Act), if your property is insured for less than its actual value, your claim is paid in the same proportion as the insured value bears to the actual value. Example: Your stock is worth ₹20 lakhs but insured for ₹10 lakhs (50% of actual value). A fire destroys ₹8 lakhs of stock. Your insurer pays only ₹4 lakhs: 50% of the claim: because you were 50% underinsured. You pay the other ₹4 lakhs from your pocket. The fix: insure at full reinstatement value, always.

Sum Insured Checklist: Mid-Size Garments Shop (Illustrative)

Here's how to methodically calculate sum insured across every insurable section of a typical retail shop:

Building / Civil Structure (if owned): Reinstatement Value ₹25,00,000
Furniture, Fixtures & Fittings (shelving, counters, AC, lighting) ₹4,50,000
Stock in Trade (maximum stock level during the year) ₹12,00,000
Electronic Equipment (computers, POS terminals, CCTV, inverter) ₹1,80,000
Money in Safe (average cash held overnight) ₹75,000
Neon Sign & Display Boards ₹45,000
Business Interruption (gross profit × indemnity period in months ÷ 12) ₹6,00,000
Total Recommended Sum Insured ₹50,50,000

A few critical principles when setting sum insured across sections:

  • Building: Always use reinstatement value, not market value. Market value includes land (which can't burn) and reflects depreciation. Reinstatement value is what it actually costs to rebuild: typically 30–50% higher than market value for older commercial buildings.
  • Stock: Insure at your peak stock level, not average. Most shop owners insure at average stock, but the devastating fire or theft tends to happen during Diwali, wedding season, or pre-GST filing when stock is at its highest. Use the maximum stock value you'd hold at any point in the year.
  • Floating stock cover: If your stock moves frequently between locations (godown, shop floor, vehicles), ask for a floating policy that covers stock across all locations under one sum insured: instead of separate policies for each location.
  • Declare improvements annually: If you've added new shelving, a POS system, or renovated the shop, update your sum insured at renewal. Most shop owners forget this and find themselves underinsured not by intent but by neglect.
  • Business Interruption: Indemnity period matters as much as sum insured. Choose an indemnity period of at least 12 months. A major fire restoration can take 6–9 months alone; adding GST compliance, supplier re-onboarding, and customer recovery easily pushes it to 12.
04

Add-On Covers: Filling the Gaps in Your Base Policy

business insurance add-ons India earthquake cover fire insurance fidelity guarantee insurance electronic equipment insurance plate glass insurance shop

The base SFSP and burglary policy covers a lot: but not everything. The perils left out of the standard wordings represent some of the most common and expensive losses Indian businesses face. Here's what to add and what to skip, based on your specific business type.

Earthquake Cover (DIC)

Earthquake and volcanic eruption are excluded from the standard SFSP policy. This add-on (STFI+EQ or DIC) extends cover to seismic damage. Essential for businesses in seismic zones III, IV, and V: covering states from Himachal, Uttarakhand, Gujarat, and the Northeast.

Must Have (Seismic Zones III–V)

Electronic Equipment Insurance

Covers accidental damage, electrical surge, mechanical breakdown, and accidental erasure of data for computers, POS machines, medical equipment, CCTV, and servers. Standard fire policy does NOT cover electrical breakdown: only fire damage to equipment.

Must Have (Tech-Heavy Shops)

Fidelity Guarantee Insurance

Covers financial loss from theft, fraud, or dishonesty by named employees: cashiers, storekeepers, accountants. The employee must be named in the schedule. Critical for businesses with employees handling cash or high-value stock.

Must Have (Staff-Run Shops)

Plate Glass Insurance

Covers accidental breakage of fixed glass: shop front windows, display panels, glass partitions, show cases. Excludes fire, theft, and deliberate breakage. Invaluable for boutiques, showrooms, electronics stores, and jewellery shops with significant glass frontage.

Recommended (Glass-Front Shops)

Deterioration of Stock (DOS)

Covers loss of perishable stock due to power failure (refrigeration breakdown) or following a covered fire/flood that damages cooling equipment. Essential for pharmacies, dairy shops, cold-storage-dependent businesses, and food retailers.

Recommended (Perishable Stock)

Transit / Inland Marine Insurance

Covers stock and goods in transit between your godown, shop, and delivery locations: against accident, fire, theft, and loading/unloading damage. If you receive goods by road from suppliers or deliver to customers, this covers the gap between shop premises and the road.

Recommended (Delivery Businesses)

Product Liability Insurance

Covers third-party bodily injury or property damage caused by a product you sold or manufactured. A customer allergic to a food product you sold, or injured by a product with a manufacturing defect, can sue you. Consumer Protection Act 2019 significantly increased retailer liability exposure.

Recommended (Food / Chemical / Pharma)

Flood Extension (STFI)

The standard SFSP covers storm and inundation but not all forms of flood. The STFI (Storm, Tempest, Flood, Inundation) extension explicitly includes all flood types and is essential in coastal cities, riverine areas, and all shops on ground floors in cities like Mumbai, Chennai, Kolkata, and Hyderabad.

Recommended (Flood-Prone Areas)

Key & Lock Replacement

Covers replacement of locks, keys, and electronic access systems (shutter motors, digital locks) following a burglary. Small add-on: ₹200–500/year: but surprisingly useful after a break-in when replacing high-security locks and CCTV can cost ₹15,000–40,000.

Optional
STFI vs EQ: Know Your Flood Zone Before You Buy
India's IRDAI-approved policy wordings have a specific shorthand for add-on perils: STFI = Storm, Tempest, Flood, Inundation; EQ = Earthquake; RSMD = Riot, Strike, Malicious Damage; DIC = Difference in Conditions (a broad all-perils extension). Your broker or insurer should specify exactly which extensions your policy includes. Ask for a written list of covered and excluded perils before paying premium: not after a loss.
05

Compare Insurers for Business Insurance in India 2026

best business insurance company India fire insurance claim settlement ratio commercial insurance insurer comparison shopkeeper insurance premium comparison

Commercial lines insurance: fire, burglary, and business interruption: is evaluated differently from personal lines. Premium pricing matters, but the experience at claim time matters far more. A ₹2,000 premium saving with an insurer that deploys slow surveyors and disputes every stock claim is not a saving: it's a trap.

Insurer Commercial Lines CSR (FY 2023–24) Solvency Ratio Indicative Shopkeeper's Package Premium (₹20L SI) Strength
New India Assurance 96.8% 1.58× ₹4,200 Largest commercial lines insurer; unrivalled surveyor network across Tier 2/3 India
United India Insurance 95.6% 1.43× ₹3,800 Strong rural and semi-urban presence; competitive rates for low-risk trades
Oriental Insurance 96.1% 1.52× ₹4,000 PSU reliability; good for government-tendered premises and bank-mandated policies
HDFC ERGO 94.9% 1.92× ₹5,500 Fastest digital claims; strong for tech-heavy SMEs; good EEI and cyber add-ons
Bajaj Allianz 96.2% 3.52× ₹4,800 Highest solvency; good shopkeeper package product for mid-market retail
Tata AIG 93.8% 1.82× ₹5,200 Best product for premium retail, hotels, and restaurant businesses

*Premiums are indicative for a low-risk retail shop (garments/kirana), ₹20L sum insured, ground floor premises, metro city. Actual premiums vary significantly by trade type, city, floor, security measures, and construction type. Source: IRDAI Annual Report 2023–24.

Surveyor Network Quality

For commercial claims, the insurer appoints a licensed Loss Assessor / Surveyor. For large claims (above ₹25 lakhs), you have the right to appoint your own independent Licensed Surveyor & Loss Assessor (IRDA). Insurers with larger surveyor networks in your city mean faster appointments and faster settlements.

Policy Wording Quality

Not all SFSP policies are equal: the standard wording is IRDAI-mandated, but endorsements, add-on clauses, and sub-limits vary by insurer. Always ask for the full policy wording before purchase, not just the schedule. Pay particular attention to the definition of "stock in trade" and the stock valuation method at claim.

PSU vs Private Insurer

PSU insurers (New India, United India, Oriental) tend to have wider physical presence in smaller cities and towns: critical when your shop is in a Tier-2 city and needs a local surveyor quickly. Private insurers are faster in metros with digital claims tools. Choose based on your geography, not just premium.

Claims Documentation Support

The biggest commercial claim failures happen in documentation: missing invoices, incomplete stock registers, no fire brigade report. Insurers that assign a dedicated claims relationship manager for commercial clients significantly outperform those that leave shop owners to navigate this alone.

06

How to File a Fire or Burglary Insurance Claim: Step by Step

how to file fire insurance claim India burglary claim process insurer fire insurance claim documents required loss of stock claim fire insurance business insurance claim surveyor

The moment a loss event happens: fire, flood, or burglary: most business owners are overwhelmed and make procedural mistakes that cost them significantly at claim time. The claims process is systematic and time-sensitive. Here's exactly what to do, in order.

1

Ensure Safety: Then Preserve the Evidence

Call emergency services (fire: 101, police: 100). Do not start clean-up or repairs until the surveyor has inspected the site. Photograph and video every inch of damage before anything is moved. This evidence is irreplaceable: even a single before-photo of a smoke-damaged ceiling is better than none.

Immediate Priority
2

File an FIR: It Is Non-Negotiable for Most Claims

For burglary: FIR is mandatory. For fire: FIR is required if the cause is malicious, suspicious, or involves third-party liability. For flood or natural calamities: FIR is not required but a copy of a local authority or municipal notice confirming the event is valuable supporting evidence. Get the FIR copy before leaving the police station.

Within 4 Hours of Discovery
3

Intimate Your Insurer in Writing

Call the insurer's 24×7 helpline and follow up in writing (email or app submission) with the date, time, nature of loss, and a preliminary estimate of damage. The policy typically requires intimation within 24–48 hours. Missing this window doesn't automatically void your claim but gives the insurer grounds to question it: don't give them that opportunity.

Within 24–48 Hours
4

Surveyor Inspection: Your Rights

The insurer appoints a licensed surveyor within 72 hours. For claims above ₹25 lakhs, you have the right to appoint your own independent surveyor at your cost (recoverable if claim exceeds the surveyor's fee). Cooperate fully: provide books of account, purchase invoices, GST returns, and stock registers. Do not start repairs until the surveyor has completed their assessment and given written clearance.

Insurer Appointed
5

Submit the Claim Documents Systematically

The most common reason fire and burglary claims are delayed is incomplete documentation. Use a checklist: duly filled claim form · original policy document · FIR copy · fire brigade report (for fire claims) · surveyor's preliminary report · itemised loss list with purchase invoices · last 3 years audited accounts (for BI claims) · photographs of damage · municipal/building authority certificate if premises damaged.

Within 15–30 Days of Loss
6

Claim Settlement and Betterment Clause

IRDAI mandates claim settlement within 30 days of final survey report and complete documentation. Watch out for the Betterment Clause: if repairs result in an improvement over the pre-loss condition (e.g., new wiring instead of 10-year-old wiring), the insurer deducts the betterment cost proportionally. Dispute any betterment deductions that are unreasonably high by referencing IRDAI's Bima Bharosa grievance portal.

30 Days Post Documentation
The Biggest Stock Claim Mistake
Filing a stock loss claim without books of account is the #1 reason commercial claims are settled at a fraction of the claimed amount. Insurers appoint forensic accountants for large stock claims who reconstruct purchases and sales from GST filings, bank statements, and supplier records. If your shop's actual stock doesn't match what your books say, the discrepancy is treated as unproven loss. Maintain meticulous stock registers, file GST returns on time, and keep purchase invoices for at least 3 years.
07

Business Insurance Myths vs. Facts: Cleared

business insurance myths India fire insurance misconceptions shopkeeper insurance common mistakes

Many Indian shop owners avoid or underinsure because of myths that have been circulating for decades: some spread by agents with conflicting incentives, others by genuine misunderstanding of policy wordings. Here's the truth.

Myth

"My shop is on rent, so I don't need fire insurance: it's the landlord's problem."

Fact

The landlord's fire insurance covers the building structure only: not your stock, furniture, fixtures, or electronic equipment inside the shop. If your ₹15 lakh stock burns down, the landlord's insurer pays nothing to you. As a tenant, you need your own contents-only fire policy covering everything that belongs to you inside the premises.

Myth

"I have a CCTV camera and shutter lock: burglary insurance isn't necessary."

Fact

CCTV deters crime but does not prevent it or compensate for it. India records over 4.4 lakh property crimes annually: and CCTV footage is of limited use once stock has been stolen. Burglary insurance for a kirana or electronics shop with ₹10 lakh stock costs ₹800–1,500 per year. The risk-reward math is overwhelming in favour of buying cover.

Myth

"Lower sum insured means lower premium: and claims are always negotiated anyway."

Fact

This is the most expensive myth in business insurance. Deliberate underinsurance triggers the Average Clause, which can cut your claim settlement by 50–60%. "Negotiations" happen only if the insurer is wrong: the surveyor's assessed value, applied proportionally against your declared SI, is what you get. Insure at full value, every time.

Myth

"Business interruption insurance is only for big factories: not for my small shop."

Fact

Business interruption insurance is disproportionately valuable for small shops precisely because they have no savings buffer. A large factory can absorb a 3-month closure; a kirana store owner with ₹15,000 daily sales and ₹40,000 monthly rent cannot. BI cover for a shop doing ₹5L/month costs approximately ₹1,500–3,000/year: arguably the cheapest financial safety net available to a small business owner in India.

Myth

"All fire insurance policies are the same: just buy the cheapest one."

Fact

IRDAI's detariffication of fire insurance in 2007 means premiums are no longer standardised. A cheaper policy may exclude RSMD (riot and strike), earthquake, or flood extensions that a slightly pricier policy includes. The standard SFSP wording is the same, but add-on coverage, sub-limits, and claims support quality vary enormously. Compare policy wordings, not just premiums.

Myth

"If the municipality floods my area, the government will compensate me."

Fact

Government disaster relief for businesses is minimal, delayed, and conditional. After the 2015 Chennai floods and the 2017 Mumbai floods, most shop owners received no material government compensation for stock loss. Insurance is the only reliable financial mechanism. An STFI-extended fire policy costs ₹300–800 extra per year: which is the actual cost of transferring this risk.

Frequently Asked Questions

The most important questions Indian shop owners and business owners ask about fire, burglary, and commercial insurance: answered without the jargon.

What is a shopkeeper's insurance policy and what does it cover?
A shopkeeper's insurance policy (or shopkeeper's package policy) is a bundled commercial insurance product that covers multiple risks under a single policy: including fire and allied perils (for building and contents), burglary and housebreaking (stock and fixtures), plate glass breakage, money in safe and counter, neon sign boards, and personal accident cover for the owner. It is typically 30–40% cheaper than buying each of these covers separately and is the most cost-effective starting point for any retail shop owner in India.
What is covered under a Standard Fire and Special Perils (SFSP) policy?
The SFSP policy covers loss or damage to insured property caused by: fire, lightning, explosion/implosion, aircraft damage, riot, strike, and malicious damage (RSMD), storm, cyclone, typhoon, hurricane, tornado, flood and inundation, subsidence and landslide, rockslide, missile testing operations, bush fire, and leakage from automatic water sprinkler installations. Earthquakes and tsunami are not automatically included: they require a separate STFI+EQ extension or a DIC (Difference in Conditions) endorsement.
What is the Average Clause and how does it affect my claim?
The Average Clause is an underinsurance penalty built into all property insurance policies in India. If your property is insured for less than its actual value, your claim is paid only in proportion to the insured value divided by actual value. Example: Property worth ₹30 lakhs insured for ₹15 lakhs. A ₹10 lakh loss occurs. Insurer pays only ₹5 lakhs (15/30 × 10). You bear the other ₹5 lakhs. The fix is simple but must be proactive: always insure at full reinstatement value and update the sum insured at every renewal.
Does fire insurance cover the stock of my shop?
Yes: stock in trade is one of the most important insurable items under a fire policy. However, the coverage comes with important conditions: stock must be declared at its maximum value during the policy year (not average), purchases must be supported by invoices and GST records, and your stock register must be updated regularly. For businesses with fluctuating stock levels, a Declaration Policy (where you declare actual stock monthly and pay premium accordingly) is a more accurate and often cheaper option than a fixed stock sum insured.
Is burglary insurance mandatory for shops in India?
Burglary insurance is not legally mandatory under any Indian law for most trades. However, it is effectively mandatory for shops with an active bank loan against stock or assets: lenders almost universally require it as a loan condition, naming the bank as an additional insured. Even without a legal mandate, given India's property crime statistics and the low annual premium relative to the risk, burglary insurance is a financially prudent decision for any shop with significant cash or stock on premises.
What is the difference between reinstatement value and market value in fire insurance?
Market value is the current value of your property after accounting for age, wear and tear, and depreciation: what you'd get if you sold it today. Reinstatement value is the cost to rebuild or replace the property as new, without deducting any depreciation. For buildings and machinery, insuring at market value creates a significant gap: an old machine insured at ₹2 lakhs market value may cost ₹8 lakhs to replace new. Always insure buildings and machinery on a Reinstatement Value basis to ensure you can actually rebuild after a loss.
How is a business interruption claim calculated?
Business interruption (loss of profit) claims are calculated based on the shortfall in gross profit during the indemnity period, compared to the corresponding period in the previous year (adjusted for business growth trend). The insurer also pays for additional expenses reasonably incurred to reduce the business interruption (e.g., temporary premises rental). You will need to provide: last 3 years of audited accounts, monthly revenue records, details of fixed costs (rent, salaries, EMIs), and evidence of the physical loss that caused the interruption. Claims are typically complex: a professional loss assessor is strongly recommended.
Can I buy business insurance online in India?
Yes: most general insurers and aggregators like inLUME offer online purchase of shopkeeper's package policies for standard low-risk trades (kirana, garments, stationery, electronics retail) with sum insured up to ₹50–75 lakhs without a physical risk survey. For higher sum insured values, high-risk trades (chemicals, jewellery, fuel), or businesses requiring customised policy wordings, a broker-assisted purchase with a risk survey is typically required. Online purchase provides instant policy issuance for standard cases and is significantly cheaper than branch-purchased policies.