Kshema Bharat Sookshma Udyam Suraksha
A Kshema product
The Kshema Bharat Sookshma Udyam Suraksha policy provides comprehensive protection to micro enterprises from losses due to unforeseen risks.
- Tailored for micro businesses
- Affordable premiums with customisable add-ons.
- Protect your Buildings, Plants, Machinery and other contents
Why Choose Kshema Bharat Sookshma Udyam Suraksha?
Comprehensive Coverage
Protects your business assets from various perils.
Quick & Hassle-Free Claims
A seamless claims process for your convenience.
Affordable Premiums
Get extensive protection at affordable rates.
Customizable Add-ons
Enhance your policy with tailored add-on covers.
Protect your assets from
Subsidence & Landslide
Explosion & Implosion
Missile testing operations
Lightning
Earthquake
Riot and strike
Storm, Tsunami, Flood etc.
Theft (within 7days)
Impact Damage
Acts of terrorism
Bursting or overflowing
Bush Fire
Leakage of Automatic Sprinklers Installation
Fire
Frequently Asked Questions
1. What is ‘Value at Risk’?
‘Value at Risk’ at any one location means the value of all property in that location including Buildings, Fittings and Fixtures, Plant and Machinery, Stocks, other contents etc where the proposer has insurable interest.
2. Whether there is any provision in the Policy to exclude inbuilt perils to arrive at reduction in price?
There is no provision in the policy to exclude Inbuilt Perils.
3. Does KSHEMA Bharat Sookshma Udyam Suraksha policy allow Under insurance Waiver?
In these products, under insurance is waived up to 15%, but beyond that under insurance is applicable to full extent.
4. What is the provision to increase/decrease the Sum insured during the policy period?
At the request of the insured, Sum insured under the policy can be increased / decreased subjected to payment of premium.
5. What are the options to increase the coverage under the policy?
There is an option to increase the coverage by the means of add-ons.
6. Whether there will be an impact on policy wording due to increase in Policy Sum Insured, once it falls in next SI Slab i.e. Policy Sum Insured changes from 0-5 Crs slab to 5-50 Crs slab.
During mid-term, there will be no impact on policy wording due to Sum Insured increase. However, at the time of renewal, applicable policy wording as per sum insured will be selected while policy issuance.
7. What does actual cost mean in Costs compelled by Municipal Regulations?
Upon occurrence of an Insured peril, these are the costs incurred by insured (on actual basis) at the time of Reinstatement of property due to change in Municipal Regulations.
8. What does Impact damage of any kind means?
Impact damage of any kind means damage caused by impact, or collision caused by, any external physical object (e.g. vehicle, falling trees, aircraft, wall etc.).It is similar to the traditional accidental damage.
9. Whether are the floater provision in the policies?
Floater is an inbuilt cover under this policy.
10. What is the provision of Theft coverage in the policy?
Losses / damage due to theft will be covered within 7 days from occurrence of an Insured peril.
11. What are the options to increase sum insured limits for Inbuilt Covers?
Presently, Sum Insured limits of inbuilt covers are fixed as per IRDA guidelines.
12. How will the ‘Top Location’ be arrived calculated?
‘Top Location’ will be the maximum ‘Value at Risk’ at a location.
13. Whether Jungle Fire and Forest Fire are same?
Yes, both are same as per product wordings.
14. Is partial selection of asset allowed?
Partial Selection of asset is not allowed. The policy allows cover for complete value of plant and machinery, Stocks and FFF at the risk premise.
15. Can Plinth and foundation be excluded from Value of Building?
Plinth and Foundation cannot be excluded.
16. Whether Extension of short period policy is possible in the product?
Extension of short period policy is not possible, however annual policy can be issued on completion of short period.
17. Can Deductible be changed- increased or decreased?
No, change in deductible is not permissible.
18. Can Goods held in trust be covered?
Goods held in trust are deemed to be covered, unless specified.
19. Who can purchase Bharat Sookshma Udyam Suraksha?
This product is meant for all risks (except dwellings) in India where the total ‘Value at Risk’ is up to ₹ 5 Crore across all insurable asset classes at any one location at the commencement of the insurance cover.
20. What is the Optional Cover under this Policy?
The option cover under this policy is Declaration cover for Stocks.
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