Compare & Buy Factory and Warehouse Insurance | Safeguard Insurance

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.

Different Type of Factory and Warehouse Insurance Policies

The factory and warehouse insurance coverage depends on the type of policy you choose to buy. Here’s 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..
• Burglary insurance.

Benefits of Factory & Warehouse Insurance Policy

Factory & warehouse insurance policies come with plethora of effective benefits and advantages such as:
•Covers Wider Array of Risks: Factory and warehouse insurance policy in India covers damage due to lightning, fire, theft, burglary and a number of natural calamities like earthquake, storm, flood etc. Not only these, these factory and warehouse insurance coverage could be enhanced by opting for add-ons like impact damage resulting from the insured's own vehicles, and terrorism etc. Portable electronic equipment could also be brought under the factory and warehouse insurance coverage for specific losses like short-circuit, breakdown and theft while travelling abroad.
• Easy Documentation: The issuance of factory and warehouse insurance online requires least paperwork. You could just put forward the Fixed Asset Register maintained for your book-keeping to avail factory and warehouse insurance. Serial numbers are needed only for portable equipment as per unit.
•Comfort to Lenders: Bank clause can be added to stock insurance policy under factory and warehouse insurance online. Lenders are indemnified in case of damage to mortgaged assets. Business interruption loss or Fire Loss of Profit insurance will compensate the payable operating cost and net profits for the period of disruption and this certainly ensures regularly serviced debt. Furthermore, FLOP (Fire Loss of Profit) insurance could be extended to cover disruption in a supplier's premises under factory and warehouse insurance online.
• Indemnification against Increased Expenses: The replacement cost of damaged property as an alternative of the book value can be provided by the factory and warehouse insurance policy in India. Through the escalation and reinstatement value clauses this can be performed. Air freight add-on can help accelerate the influx of substitute materials. Standard fire and special perils policy can reimburse rent for interchangeable lodging in case the factory gets damaged.
•Customized Cover: Customized factory & warehouse insurance plan is offered online to fit your requirements the best way possible. You can get instant assistance from our experts who are dedicated to perform diligently thorough risk assessment and thereby suggest you with the best factory and warehouse insurance plans suitable to your business requirements.
•Multiple Location Coverage: Contents at various locations across the country can be covered under a single factory & warehouse insurance policy. Furthermore, the variation in Sum Insured across locations can be accounted by means of floater coverage for fire insurance.
•Comprehensive Cover: Factory and Warehouse insurance online comes with wide-ranging coverage options to safeguard your assets across office, factory and warehouse. There is a presence of factory and warehouse insurance coverage obtainable for physical damage to assets, third party legal liability and loss of profits due to business interruption.
•Online Purchase: There are a number of factory and warehouse insurance companies in India that offer tailor-made plans online. You can effortlessly buy factory & warehouse insurance online without any hassle. At GIBL you can compare factory and warehouse insurance quotes online and buy the best policy as per your business needs.

What’s not covered Under Factory and Warehouse Insurance Policy?

Factory and warehouse insurance policy, just like any other insurance policies in India, does come with a number of exclusions.
Following are the risk factors that are not covered under factory and warehouse insurance online.
•The policy does not cover intentional damage to the property.
• Damage to the property due to illegal activities and consequential loss.
• Normal wear and tear due to deterioration.
• Damages due to war, radioactive contamination and pollution

How Can We Help You With Factory & Warehouse Insurance Online?

We, at GIBL, are dedicated to give you the best factory and warehouse insurance online and this is the reason we arm our customers with instant and free factory & warehouse insurance quotes online. We also offer an unbiased comparison of different policies to ensure you get the best factory and warehouse insurance online.