Shopkeeper's Package Policy

  •  About Policy 
  •    Coverage 
  •  Benefits 
  •  Major Exclusions 

About Policy

Magma HDI's "Shop Keeper's Package policy" is devised to cater to the overall requirement of a Shop Owner. This is a unique package policy which provides choice of all types of covers under single policy.

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Coverage in the form of various optional sections

1. Fire & Allied perils - Building & Contents

  • This section covers structure of a Building.
  • Contents excluding money and valuables can also be covered under this section.
  • Covers your property against loss or damage due to below perils:-
    1. Fire
    2. Lightning
    3. Explosion / Implosion
    4. Aircraft Damage
    5. Riot, Strike, Malicious and Terrorism Damage
    6. Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
    7. Impact Damage
    8. Subsidence and Landslide including rock slide
    9. Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
    10. Missile Testing Operations
    11. Leakage from Automatic Sprinkler Installations
    12. Bush Fire
  • Additional in built covers with no extra premium:

(a)Expenses incurred on Removal of Debris up to 1% of claim amount

(b)Expenses incurred on Architect, surveyors and consulting fees up to 3% of claim amount

  • Sum insured for Assets (other than stock) can be covered on Reinstatement value basis. Stocks are covered on Market value basis

2. Burglary & Housebreaking

  • This section covers loss or damage by actual or attempted burglary and/or robbery during the policy period in respect of all contents covered under Standard Fire & Special Perils section.

3. Money

  • This Section covers:
  • Money in Transit: Covers loss of Money in transit carried by the Insured of or his authorized employee(s) occasioned by theft, robbery or any other fortuitous event.
  • Money in Safe: Covers loss of Money (cash, bank notes, currency notes/coins, bank drafts, cheque, postal orders, treasury notes, current postages and revenue stamps) belonging to the insured whilst security kept in Safe and loss or damage to any Safe/ Strong room or Cash box containing money.

4. Plate Glass and Neon Signs/Glow Signs

  • This Section covers accidental loss or damage to Plate Glass/ Neon Sign/ Glow Sign

5. Electronic Equipment

  • This Section covers:
  • Loss or damage to Electronic Equipments against any unforeseen sudden physical loss or damage unless specifically excluded.

6. Breakdown of Business Equipments

  • This section covers the business appliances/ apparatus such as Air conditioners, Refrigerators, Photocopying machines etc. against any unforeseen and sudden physical damage caused by or solely due to mechanical or electrical breakdown.

7. Fidelity Guarantee

  • This section covers you against any direct pecuniary loss caused by act of fraud or dishonesty committed by any employee.

8. Public Liability

  • This section covers you against legal liability including the defence cost incurred by you in respect of accidental bodily injury to third parties and/or accidental loss and/or damage to property belonging to third parties.

9. Workmen's Compensation

  • This section provided you cover against liability towards your Workmen under the Workmen's Compensation Act, Fatal Accident Act & Common Law.

10. Business Interruption

  • This section covers your financial loss due to business interruption arising out of any of the perils covered under Fire Section of the policy.

(For more details, please refer to Policy wordings).




  • Sectional discount is applicable depending on number of sections selected.
  • Option to choose between 3 - 10 sections
  • Easy claim settlement process
  • Minimum documentation

Major Exclusions


  • Misrepresentation, mis-description, or non-disclosure of any material information.
  • Damage which is pre-existing in nature
  • Manufacturing defects in electrical, mechanical, and electronic items
  • Any shop which is of kutcha construction

The above exclusions are indicative in nature, for detail exclusions please refer to the policy wordings.

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