Personal finance: You ask, we answer – Business Standard
News from Personal finance: You ask, we answer – Business Standard:

Personal finance: You ask, we answer
Business Standard / Mumbai Jan 30, 2012, 17:45 IST

Ramesh Yadav asks:
Is there any monetary limit in a comprehensive shop insurance policy? Please advise.

Gaurav Garg, MD & CEO, Tata AIG General Insurance Company, replies:
There is no specific limit in a comprehensive shop insurance policy, as the sum insured is based on the actual value of the contents and the building or the shop. A comprehensive shop insurance policy, commonly known as Shopkeeper Package Policy, offers a wide range of covers in a single policy such as Fire and Allied Perils, Earthquake, Terrorism, Burglary, Money in Safe and in Transit, Business Interruption, Plate Glass, Fidelity (financial loss due to employee dishonesty), Public Liability (third party liability) and so on. A shopkeeper can cover building, assets and stock under the fire section for which he has to declare the sum insured. Similarly there is a limit of liability specified for each of the other sections and the premium is charged accordingly.

Col Joshi asks:
On 14 Nov 2011, I handed over an outstation cheque to my banker…………… continues on Personal finance: You ask, we answer – Business Standard

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