Shop Insurance
What is Shop Insurance?
Shop Insurance is a comprehensive, all-in-one protection package designed specifically for small and
medium-sized retail businesses, showrooms, and boutiques. It addresses the multiple risks that
shopkeepers face daily—from physical damage to the shop structure and its contents to the constant
threat of burglary and legal liabilities.
Your shop is the result of your hard work and investment. DigiAssure's shop insurance ensures that a
single unfortunate event like a fire, flood, or break-in doesn't derail your business. Our plans provide
modular coverage for your inventory (stocks), furniture, glass facades, and even the cash in your
drawer. We also provide a vital legal shield through public liability cover, protecting you if a
customer is accidentally injured while on your premises. With our fast claim settlement and 24/7
support, we ensure your shutters stay up and your business continues to thrive.
Total Security for Your Retail Space
1. Comprehensive Stock Cover
Protects your raw materials, work-in-progress, and finished goods against fire, natural perils, and accidental damage within the shop.
2. Burglary & Theft Shield
Provides financial protection against loss of stocks, furniture, or cash due to break-ins or theft during and after business hours.
3. Public Liability Protection
Covers legal fees and settlements if a customer or visitor is accidentally injured or their property is damaged while inside your shop.
4. Money Insurance
Protection for cash, coins, and securities while they are in your shop's safe or being transported from the shop to the bank.
Key Features of Our Plans
Furniture & Fittings
Protection for your shop's interior, including racks, counters, lighting, and air conditioning units against accidental damage.
Plate Glass & Signage
Specialized cover for large glass storefronts and neon signage against accidental breakage—a common risk for retail spaces.
Fidelity Guarantee
Optional cover that protects the shop owner from financial losses resulting from dishonest acts or fraud by employees.
Operational Continuity
Provides support for fixed expenses like rent and electricity if your shop is temporarily closed for repairs after a covered loss.
Pedal Cycle Cover
Protection for cycles used by the shop for local deliveries against accidental damage and theft.
Flexible Sum Insured
Customize your coverage limits based on your peak season inventory levels to ensure you are never under-insured.
Package Plan vs Individual Policies
Why a consolidated Shopkeeper's Package is the smart choice for SMEs.
| Feature | Shopkeeper's Package | Individual Policies |
|---|---|---|
| Coverage Complexity | Simple (All-in-One) | High (Multiple documents) |
| Premium Cost | Discounted Bundle Rates | Higher cumulative premium |
| Glass & Signage | Standard Inclusion | Always a separate rider |
| Money in Transit | Included | Separate Policy needed |
| Public Liability | Included | Separate Policy needed |
| Renewal Management | Single Date | Multiple Renewal Dates |
| Fidelity Guarantee | Available as Add-on | Not easily available for SMEs |
Coverage Details
Understand exactly what's protected in your retail space.
What we Cover
Typical protections in a shop package:
- Fire, Lightning & Natural Perils
- Burglary & Accidental Break-ins
- Public Liability within premises
- Plate Glass & Neon Signs
- Money in Safe / Counter
- Cash in transit to Bank
Common Exclusions
Typical policy exclusions:
- Intentional damage by the owner
- Inventory shortage during audits
- Loss due to illegal trade activities
- Normal wear and tear of fittings
- War, Invasion & Nuclear risks
- Unexplained disappearances of cash
Valuable Add-Ons
Customized extensions for your unique retail needs.
Terrorism Cover
Critical for shops in high-profile market areas, this covers structural damage and stock loss resulting from acts of terrorism.
Fidelity Guarantee
Protects the shop owner against direct financial loss caused by the dishonest acts, fraud, or theft by employees handling cash or stock.
Electronic Equipment Cover
Adds specialized protection for shop electronics like Billing machines, POS terminals, and CCTV systems against accidental breakdown and damage.
Personal Accident Cover
Provides a financial shield for the shop owner and employees against accidental death or permanent disability occurring during work hours.
Factors Affecting Your Premium
How we determine the best value for your shop's protection.
1. Nature of Goods Sold
Shops selling high-value items like Jewelry or Electronics have higher risk profiles and premiums compared to Grocery or Textile shops.
2. Shop Location
Retail spaces in prime markets, coastal zones, or areas with higher crime rates are priced according to their specific geographic risk.
3. Safety & Security Infrastructure
The presence of CCTV, smoke detectors, fire extinguishers, and gated security can earn you significant discounts on your premium.
4. Peak Season Stock Value
Insuring based on your highest inventory levels (e.g., during festivals) ensures you are fully protected during high-volume periods.
5. Past Claims History
A history of zero or low claims demonstrates good shop management and helps in securing better rates during renewals.
Documents Required
Simplified onboarding for small and medium retail businesses.
Shop Registration
- GST Registration Certificate
- Trade License or Shop & Establishment License
- Business PAN Card copy
- Owner's Identity Proof (Aadhar/Voter ID)
Inventory Statements
- Detailed list of stocks and their value
- List of Furniture & Fixtures with estimated costs
- Details of specialized equipment (POS, CCTV)
Property Details
- Ownership Deed or Registered Lease Agreement
- Proof of shop address (Electricity bill)
- Layout plan of the shop
Shop Photographs
- Clear photos of the shop's exterior and signage
- Photos of the interior and stock placement
- Photos of safety equipment (Fire extinguishers)
Shop Claim Process
Getting your business back on its feet quickly.
Incident Reporting
Notify DigiAssure immediately after the loss. For burglary or theft, file a mandatory FIR with the local police.
Loss Mitigation
Take reasonable steps to prevent further damage to stocks and property. Preserve the scene for the surveyor.
Surveyor Assessment
A licensed surveyor will visit your shop within 24 hours to assess the damage and investigate the cause.
Evidence Gathering
Provide the surveyor with inventory lists, purchase bills, repair estimates, and the police FIR copy.
Documentation
Submit the completed claim form along with all surveyor-verified documents via our digital portal.
Verification
Our claims team reviews the reports and documents for admissibility under the policy terms.
Approval
Once verified, the claim amount is approved based on the assessed loss and your policy limits.
Settlement
The final amount is credited to your bank account within 7 working days to start the restoration process.
Frequently Asked Questions
Common shop protection queries answered.
Does it cover my shop if it's in a rented property?
Yes, absolutely. Even if you don't own the building, you can (and should) insure your furniture, fittings, inventory, and your liability to the public. Structural cover is usually the landlord's responsibility.
What is a 'Fidelity Guarantee'?
This add-on protects the shop owner from financial loss caused by dishonest acts, fraud, or theft committed by employees working in the shop.
Is my shop covered during a flood?
Yes, standard shop insurance includes protection against natural perils like floods, inundation, earthquakes, and storms.
Does it cover cash stolen from the counter?
Yes, the 'Money Insurance' section of the policy covers cash stolen from the shop counter or safe during business hours, provided there is evidence of burglary or threat.
What is the 'Condition of Average'?
If you insure your shop for less than its actual value, your claim payout will be reduced in the same proportion. Always insure your stocks and fittings at their full current value.
Can I add terrorism cover?
Yes, terrorism cover is available as an optional add-on and is highly recommended for shops located in busy market hubs and city centers.