banner Image

Bharat Laghu Udyam Suraksha

Bharat Laghu Udyam Suraksha would be covering micro and small level businesses like Oces, Hotels, Shops, Industrial/Manufacturing risks, Utilities located outside the compound of Industrial/Manufacturing risks, Storage risks and Tank farms/Gas holders outside the compounds of Industrial/Manufacturing risks.

Key Features:

  • Policy Duration :Upto 12 Months
  • Sum Insured :Above Rs 5 crore and upto Rs 50 crore.
  • In Built Covers :The product covers additional Perils (over SFSP), Details as under.
  • Standard add-on's like :Floater for stocks, Declaration Policies
  • Basis of Sum Insured :If the property is damaged – Reinstatement value on "New for Old" basis. i.e. cost of rebuilding the building or replacing other property
  • Underinsurance Wavier up to 15%. It will not apply to Cover for Specific Contents like Money, Deeds, Manuscripts, Business Books etc

Excess – 5% of the claim amount subject to a minimum of Rs 10,000 for each and every claim

The following in-built covers are available under Bharat Laghu Udyam Suraksha respectively

In-built Covers Bharat Laghu Udyam Suraksha
Additions, alterations or extensions Included
Temporary removal of stocks Included
Cover for specic contents Included
Start-up expenses Included
Professional fees Included
Removal of debris Included
Costs compelled by Municipal Regulations Included
Floater Cover for Stocks Included
Earthquake Included
Terrorism Included
Spontaneous Combustion Included
Forest Fire Included
Theft / Burglary following an insured peril only,reported within 7 days of occurrence Included

How does the Bharat Laghu Udyam Suraksha Policy help me?

Your loss Condition We pay, but not more than the Your loss Sum Insured
Any Insured Property is damaged.(Partial Loss) You have repaired such property. Cost of repairs
If any Insured Stock is damaged (Partial Loss) The extent of the loss (Partial Loss)
Any Building or Plant and Machinery or Furniture,Fixture, Fittings are completely destroyed.(Total Loss) You have rebuilt the building or reinstated such property. Reinstatement Value

Bharat Laghu Udyam Suraksha FAQs

Q1. Is there any provision in the policy to exclude inbuilt perils Like STFI, Terrorism to arrive at a reduction in premium?

Answer. Inbuilt perils cannot be excluded.

Q2. Does the client/insured have the provision to increase/decrease the Sum Insured during the policy period?

open Close

Answer. The client can request for increase/decrease in the Sum Insured.

Q3. Does this policy allow under insurance?

open Close

Answer. Yes upto 15% only

Q4. Are there any options to increase the coverage under the policy?

open Close

Answer. Yes there is an option to increase the coverage by means of add-ons.

Q5. What shall be covered in actual cost against costs compelled by Municipal Regulations?

open Close

Answer. In event of a claim due to insured peril, additional costs incurred by insured (on actual basis) at the time of reinstatement of property due to change in Municipal Regulations.

Q6. What does Impact damage of any kind mean?

open Close

Answer. 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.).

Q7. What shall be the impact on policy coverage due to change in Policy Sum Insured, once it falls in next SI Slab i.e. Policy Sum Insured changes from 05 Cr slab to 550 Cr slab or vice versa. In event of a claim due to

open Close

Answer. In the case of mid-term increase or decrease in Sum Insured, existing policy terms and condition shall remain applicable, but at the time of renewal, relevant policy type shall be applicable.

Q8.Is it possible to extend the short period policy?

open Close

Answer. The annual policy can be issued on or after completion of the short policy period. Extension of short period policy is not possible.

Q9. Is Partial Selection of Assets allowed?

open Close

Answer. 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.

Q10. What is the floater provision in the policies?

open Close

Answer. It is an optional cover under Bharat Laghu Udyog Suraksha policy.

Q11. What is the provision for theft coverage in the policy?

open Close

Answer. It will be covered if loss/damage due to theft within 7 days from the occurrence of an insured peril.

Q12. Is Forest Fire and Jungle same?

open Close

Answer. As per product wordings, both are same.

Q13 D oes the Insured/Client have the option to increase sum insured limits for in-built Covers?

open Close

Answer. Sum Insured limits of in-built covers are Fixed

Our Commercial Insurance Products

Group Health Insurance

Group Health Insurance

Growth and progress of a business is dependent upon its employees, all the more reason for an employer to protect his employees with group health insurance plans.

know More
Liability Insurance

Liability Insurance

Liability insurance protects you and your business against any claims from your customers, visitors or people for any malpractice, negligence or injury.

know More
Commercial Vehicle Package Policy

Commercial Vehicle Package Policy

Commercial vehicle insurance from Liberty General Insurance has got you covered against any damage or loss of your fleet of commercial vehicles.

know More
Marine Insurance

Marine Insurance

Goods can get damaged or lost in transit, causing delays and financial loss. Marine insurance covers any loss or damage to your goods while in transit.

know More
Engineering Insurance

Engineering Insurance

Construction and infrastructure projects require huge investments, and involve high risks. Stay secured against any financial losses with Liberty General Engineering Insurance.

know More
Commercial Property Insurance

Commercial Property Insurance

Whether you own a shop, office, or a building, secure it with commercial property insurance plans from Liberty General Insurance that are tailored to your business's precise requirements.

know More
REC Services

REC Services

A stitch in times saves nine; take advantage of our Risk Engineering Cell services for thorough site surveys to reduce risk exposure, to keep your operations running smooth.

know More
Miscellaneous Insurance

Miscellaneous Insurance

If you have employees, contractors, workers, etc., invest in liability insurance, commercial property insurance and other insurance covers to effectively deal with any risks and claims.

know More
Employee Benefit Insurance

Employee Benefit Insurance

Employees fuel the progress of an organization, and Employee Benefit Insurance safeguards an employer against work-related injury or illness claims from employees.

know More
Group Health Insurance

Bharat Griha Raksha

"Bharat Griha Raksha" is being introduced for covering Dwellings against Fire and allied perils and for Material Damage which shall replace SFSP for Dwellings (both Home Building and Home Contents).

know More
Group Health Insurance

Bharat Sookshma Udyam Suraksha

Bharat Sookshma Udyam Suraksha will be covering micro and small level businesses like offices, Hotels,Shops, Industrial/Manufacturing risks, Utilities located outside the compound of Industrial/Manufacturing risks.

know More
Group Health Insurance

Bharat Laghu Udyam Suraksha

Bharat Laghu Udyam Suraksha would be covering micro and small level businesses like Oces, Hotels, Shops, Industrial/Manufacturing risks, Utilities located outside the compound of Industrial/Manufacturing risks,

know More
video laptop
playvideo

Liberty Commercial Insurance

Listen to Our Customers

Left profile-icon

The Client has highly appreciated the inputs and report from Mr. Sudhanshu.
Its because of him we were able to convince the client to move to Liberty along with local sales support.

Rohit Kapoor
Left profile-icon

We find the report is very exhaustive in bringing out the risk exposures and the works the client has to carry out for risk elimination. Surely the client will be benefited by the suggestions you have put forth.

Gurudutt

Media Centre

Liberty Mutual Insurance Group Announces
New Joint Venture Partnership for Indian
Company

Know More

Articles

Difference between Multi Year & Single Year Two-wheeler Insurance

Chances are that you are among a large number of people who forget to renew their vehicle insurance ....

Know More

Registration Number: 150 | ARN:Advt/2018/March/26 | CIN: U66000MH2010PLC209656

2019 Liberty General Insurance Ltd.

Reg Office: 10th floor, Tower A, Peninsula Business Park, Ganpat Rao Kadam Marg, Lower Parel, Mumbai - 400013

Trade Logo displayed above belongs to Liberty Mutual and used by the Liberty General Insurance Limited under license. For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale.