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Advantages of Factory and Warehouse Insurance
Offers a wide range of insurance cover to your assets across the warehouse, factory, and office. Cover available for physical damage to assets, loss of profits due to business interruption, and third party legal liability.
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
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 for your business needs.
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.
Benefits of Factory and Warehouse Insurance
Wider Array of RisksThe insurance covers damage due to fire, lightning, burglary, theft and natural catastrophes such as flood, and earthquake
The cover could be enhanced by opting for add-ons such as impact damage due to the insured's own vehicles, and terrorism
Portable electronic equipment could be covered for specific losses such as short-circuit, breakdown and theft while travelling abroad.
Indemnification for Increased ExpensesFactory and warehouse insurance can provide replacement cost of damaged property instead of the book value. This can be done through the escalation and reinstatement value clauses
Standard fire and special perils policy can pay rent for alternate accommodation in case the factory is damaged
Airfreight add-on can help expedite the arrival of replacement materials.
Comfort to LendersBank clause can be added to a stock insurance policy; in case of damage to mortgage assets, lenders are indemnified
Business interruption loss or Fire Loss of Profit insurance will reimburse the standing expenses and net profits for the period of disruption; this ensures the debt is serviced regularly
FLOP insurance could be extended to cover disruption in a supplier's premises.