Yes, property insurance is often a requirement when buying a home loans or mortgage. When you borrow money from a financial institution, such as a bank or mortgage lender, to purchase a property, they want to ensure that their investment is protected. Lenders or banks require borrowers to have home insurance policy or house insurance […]
Fire Insurance Policy for Non-Hazardous Goods Storage
Non-Hazardous Goods Storage Fire Insurance policy is a specific type of insurance that offers tailored financial protection for non-hazardous goods stored in facilities in the unfortunate event of fire damage. This insurance not only covers the goods themselves, but it also provides additional safeguards for any other property that may be lost or damaged as […]
5 Different Types of Property Insurance in India
Property insurance is an essential investment for every homeowner and for businesses as it offers protection against unforeseen incidents such as thefts, fire, and natural or man-made disasters. It is crucial to ensure that your property is protected in case of damages caused by such incidents. However, many property owners tend to overlook this critical […]
Importance of Machinery Breakdown Insurance (MBD) and its coverage under property insurance?
The smooth functioning of machinery and equipment is one of the major aspects of a successful business. and The breakdown of machinery and physical damage to equipment can disrupt the business operation completely and the lost productivity can pose a huge loss. However, in a big-scale business like manufacturing, such eventualities are unavoidable despite regular […]
The ignored need of insurance by small businesses
As I was thinking about topics for this column, I was in two minds whether to write about the need for insurance for small businesses or not. It is not a very popular topic. The next morning, I read about the fire incident at the Bhagirath Palace at Chandni Chowk, Delhi. More than 120 shops […]
Insurance Selections That Can Help Protect Retail Stores and Shopping Centres from Fire Damage
One of the most common questions in a business environment is how to find the best insurance options for your retail shop or shopping center. It is important to know what type of insurance coverage you need. There are a few different types of retail shops, including grocery stores, clothing stores, electronics stores, and more. […]
What insurance covers should an RWA or Apartments owners association take?
When you buy a new house, you already have so much paperwork that you need to do. With the enthusiasm of moving into your new abode comes the challenge of understanding the nuances of the maintenance of the common property; especially if you are in an apartment. As a first step, you need to acquaint […]
How can insurance ensure your firm is productive and stays safe during the hot summers?
While summers bring warmth and sunshine, they do present a trying time for your field and warehouse employees. Here are a few steps to take to ensure safety and optimal productivity for your employees during the summer. Insure your air conditioning machinery Most of India experiences extremely high temperatures in summer. It becomes almost impossible […]
Factory & warehouse insurance: The saviour during turbulent times!
In business, “location” takes a very special place, and so does the actual building that you zero in on as your office. It should not only be aesthetic and aligned with your business requirements, but it should also offer optimal safety standards for your employees and assets. If the unit you plan to set up […]
About the relevance of the designation clause in fire insurance policy?
The designation of property is the most important clause in a fire insurance policy. The fire insurance policy defines the designation of property clause. Insurers agree to accept the designation entered in the insured’s books to determine coverage. After accepting this clause, insurers will accept item classification and sum insured as per the policyholder’s books. […]