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What is Industrial Insurance
Industrial insurance is a comprehensive policy covering a gamut of products. This is a specially designed policy covering any kind of loss or damage caused to the products it covers.
Every business has a specific set of requirements. Our range of business products is especially designed to meet your business needs across the commercial spectrum. It is pivotal to get adequate insurance cover for your business to mitigate risk.
Calculation of Industrial Insurance Amount/Premium:
The sum insured is generally equal to the market value of the equipment/machinery being insured. The insured amount also includes cost of installation, duty, taxes, freight etc. If the amount insured is less than the market price, then the claims are paid proportionately.
Industrial Insurance Claim Process:
• Insured should inform the insurer's office by phone, letter or fax
• Necessary steps should be taken to minimise the loss
• Obtain estimate of repair from repairer of your choice
• The claim process takes anywhere between one to three weeks.
• Submit this repair estimate and claim form to the surveyor deputed by the insurance company
• After getting clearance from the surveyor, proceed for repairing machine or ordering for replacement as the case may be
• Submit actual bills of repair/replacement with proof of payment to the surveyor The claim process
Products: -
• Boiler and Pressure Plant Insurance Policy
• Electronic Equipment Insurance Policy
• Machinery Breakdown Insurance Policy
• Erection All Risks
• Machinery Loss of Profits Insurance Policy
• Electronic Equipment Insurance Policy
• Contractors All Risk Policy
• Contractors Plant & Machinery
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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