Basic Shopkeepers' Insurance FAQs

The insurance offered by your society may offer a limited cover - typically including only the structure of the building, not the contents of your shop. You need to have risk cover for such contents that may include items such as business assets, stock-in-trade, equipment, and electrical and mechanical appliances. Your shopkeepers' policy insures all these against fire and allied perils, burglary and theft, accidental breakdowns, and other misfortunes.

Can my shop be insured if it is more than 20 years old?

Yes. Although varying by company, most companies provide cover for the contents in a building that is not more than 15 years to 25 years old.

What happens to my shopkeepers' insurance policy if I sell my shop?

If the new owner of the shop wants to continue the cover, the insurance company may issue an endorsement in your name and transfer the policy to the new owner's name. Otherwise, you can cancel the policy and take a refund from the insurance company.