आग आग, I heard Suman scream & run across the hallway.
My eyes widened and darted from the guy who was running across the floor to what he was running from. A couple of guards rushed across, broke open the extinguishers and put out the fire. One of the दीयाs seems to have been the culprit. A cloth curtain had been dangling close to it and accidentally caught fire.
Fortunately, the damage was arrested before it could spread. Can make one wonder why is Diwali celebrated in the first place, right? While instances like these have become a common occurrence during Diwali festivities, you need not let them dampen your spirit. An office insurance policy can provide insurance for your business.
While your most prized possession remains your employee, your fixed assets are the ones that also need protection. While Diwali celebrates the victory of light over darkness, it is also one of the seasons with the highest incidence of fire hazards.
In this thread, let’s understand what can be insured and how to insure it.
What’s on this page?
What all is covered under Office Insurance Policy?
Earlier, office insurance policies consisted of individual policies tailored to specific risks, such as fire insurance, burglary coverage, machinery breakdown, and liability policies. Businesses had to secure multiple standalone coverages, each with its own premium, terms, and renewal dates, making it both time-consuming and administratively challenging to manage.
But with increasing modernization and risk management awareness, Indian insurers began offering bundled office package policies, inspired by comprehensive solutions seen in global insurance markets. A single office package policy could insure you for Fire, Burglary, Machinery Breakdown, Electronic Equipment & Liability insurance. By combining multiple coverages into one policy, insurers made it easier for businesses to secure extensive protection in a single contract, reducing administrative hassle and offering better value.
Listed are some of the coverages offered under an office package policy and what do these coverages compensate for –
| Fire | Compensates for damage to assets arising out of Fire and allied perils |
| Fire Loss of Profit | Compensates for any loss of profit on account of a loss under the Fire section |
| Burglary | Compensates for loss on account of burglary of office assets |
| Machinery Breakdown Insurance | Compensates for electrical or mechanical breakdown of machinery |
| Electronic Equipment Insurance | Compensates for electrical or mechanical breakdown of electrical equipments, accidental damage, fire, burglary – can be taken for assets that are fixed on the premises |
| Portable Electronic Equipment Insurance | Compensates for electrical or mechanical breakdown of electrical equipments, accidental damage, fire, burglary – can be taken for assets that are portable like Company owned Laptops, Mobile phones |
| Fidelity Guarantee | Compensates for any act of infidelity by an employee |
| Money Insurance | Compensate for monies stolen by an outsider. Money could be stolen while in safe or in transit |
| Plate Glass Insurance | Compensates for accidental breakage of fixed plate glass on the premises |
| Baggage Insurance | Compensates for loss of baggage while in transit |
| Tenant Legal Liability Cover | Compensates for any legal liability that may arise on the tenant – liability could arise from accidental fire at premises, breakage or damage of the owners property |
| Workmen Compensation Cover | Compensates for any legal liability that may arise on the employer by virtue of physical harm to an employee while at work |
Don’t let the festival of lights, cause a dent, in your pockets.
This Diwali, Stay insured, Stay protected.
