Factory and Warehouse Insurance

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What Is Factory and Warehouse Insurance?

Factory and warehouse insurance holds ample importance in terms of offering great benefit in an industrial set up that is used for manufacturing and storage of goods. Factory and warehouse insurance policy in India provides coverage against any monetary loss resulting from any damage of goods, machinery or building in and outside of the premises.

Factory and warehouse insurance policy in India is particularly designed to cover all your contents and stocks against a choice of risks like fire, implosion, explosion, natural calamities like storm, flood, earthquake etc. There are also additional factory & warehouse insurance coverage like theft & burglary, electronic & mechanical breakdown, money insurance and all risk laptop insurance which can also be covered under factory insurance policies.

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Different Type of Factory and Warehouse Insurance Policies

The factory and warehouse insurance coverage depends on the type of policy you choose to buy. Check out the list of various factory and warehouse insurance plans below:

Comprehensive Cover: This plan includes all types of covers available for factory & warehouse premises.

Floating Policy: This factory & warehouse insurance policy is issued when same property frequently changes its location.

Valued Policy: This policy can be issued for materials for which market value cannot be ascertained.

Specific Policy: This factory & warehouse insurance coverage provides cover only up to a specific amount, usually lesser than the property valuation.

Replacement & Reinstatement Policy: This policy pays for the cost of replacement or reinstatement of the insured asset.

Add-on Covers Available Under Factory and Warehouse Insurance Policy

There are assortments of add-on covers available under the factory and warehouse insurance policy in India such as:

  • Rent for alternative accommodation
  • Terrorism
  • Fire loss of profit
  • Plate glass cover
  • Public liability
  • Theft insurance
  • Machinery breakdown
  • Cash in safe and cash in transit
  • Fidelity cover
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