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Trade Insurance Policy Online
Trade Insurance Policy from IFFCO Tokio is a comprehensive office insurance plan that offers extensive coverage against a vast array of perils that may affect your business. This policy offers the following coverage: -
- Contents of your office are covered against all-natural calamities like fire, earthquake, flood etc.
- Contents of your office are insured against all-manmade calamities like riots, strikes etc.
- Any losses that have been incurred when goods were in transit or on-premises are covered.
- Any losses to your electronic equipment in the office are covered.
- You and employees working for you, who have been included in the policy, are covered against Personal Accident Insurance.
- Any losses incurred by you due to acts of fraud and dishonesty committed by your employees are covered.
Some unfortunate occurrences may lead to huge financial burden to your business or trade. Protect your business against various kinds of risks with the best trade insurance policy in India, the Trade Insurance Policy. IFFCO Tokio is the company for you to buy the best office trade insurance online considering all your Office insurance needs.
Features of Trade Insurance Policy
Trade Insurance Policy offers you protection against a vast range of possible situations such as: -
- Fire and Allied perils: Under this section, your office and its belongings are covered under the policy against damages caused by natural causes such as fire, earthquake, explosion, flood etc. They are also covered against strikes, riots, overflow of tanks etc.
- Burglary and Allied perils: Under this section, your office and its belongings are covered against incidents such as burglary, dacoity, or robbery. They are also covered against damages caused by felling of trees, dish antenna, poles etc. Losses incurred due to fire rescue operations are also included.
- Money related perils: Under this section, any loss of money suffered in the office or in transit due to robbery, burglary, dacoity or any other misfortune is covered.
- Personal Accident: Under this section, you and other named employees of yours, who have been covered under the policy, are coveredby death, disablement or injury caused due to an accident.
- Fidelity Guarantee: Under this section, you are covered against any losses suffered by you due to an act of fraud or dishonesty of your employees.
- Electronic Equipment: Under this section, all electronic equipment installed at your office is insured against damages. Apparatus such as Computer, Television, Printer etc.are covered.
Benefits of Trade Suvidha Policy
The Trade Insurance Policy by IFFCO Tokio has been designed to ensure you against a wide range of risks that could otherwise affect your business and cause significant monetary and damages for mental anguish. Some of the significant benefits you enjoy with Trade InsurancePolicy are: -
- You are safe from significant monetary losses which would otherwise have to be incurred out of your own pocket. This saves you from a lot of potential losses and offers significant peace of mind.
- All the employees who have been named in the policy are also insured against accidental death or injury. This saves you from your third-party liability as our company would reimburse for their treatment or death (up to the limit specified).
- Any losses that would have to be incurred by you due to dishonesty or fraud committed by an employee could have the potential to ruin your business altogether. This in turn can cause significant losses to you. With the Trade InsurancePolicy, you are protected against any such happening.
- When you are not in your office and suddenly some untoward incident occurs, such as fire or burglary,it can cause significant losses. With Trade Insurance Policy, such untoward incidents are covered.
- You are safe against any direct loss of money due to theft or dacoity.
- If you are involved in an accident, our policy will safeguard you and your family against any expenses that might be incurred for your treatment. In case of any tragic accident resulting in death, your family would be reimbursed the insurance amount, up to the specified limit.
Important Points to remember
These are specificessential points that you must note regarding the Trade Insurance Policy from IFFCO Tokio so that there are no issues later on: -
- That our liability in respect to any item specified in the Schedule including any additional costs and expenses payable in connection with that item (unless specifically expressed as being payable in addition to the Sum Insured) shall not exceed the Sum Insured set against such item or in the whole the total Sum Insured or such other sum(s) as may be substituted for it by endorsement signed by on Our behalf.
- Whenever you leave your premises or the premises are closed for business, or there is no one to attend the office, all the doors and windows must be properly locked and secured. Keys to the safe shall not be kept in the same room as the safe, and shall always be in your possession. Any oversight in this regard will not void any claim filed under the policy unless the said claim is related to robbery or burglary.
- That the building where your office is located is in excellent condition, and any repairs that are necessary are carried out from time to time. It is occupied by you as an office for sale purchase activity or provision of services and not as a manufacturing unit, go down or warehouse.
You should carefully understand these general exclusions that govern the whole policy and the various perils. These are in addition to the section-wise exclusions. Any claims that fall under any of these exclusions shall not be processed.
- The damage that has been afflicted due to an act of war, civil unrest, foreign invasion, the act of enemy, confiscation, civil commotion, loot or pillage or any other similar activity shall not be covered under the policy.
- Any damage that has been caused due to confiscation of requisitioning or demolition by the orders of the Government or equivalent authority is not covered.
- Any injury, damage to property, illness, disease, bodily injuries caused directly or indirectly by the following elements is not covered: -
- Contamination from radioactivity from nuclear fuel, nuclear waste or burning of any nuclear fuel.
- Exposure to Ionizing radiation
- Toxic, Radioactive, explosive or other hazardous properties of any dangerous nuclear component or nuclear assembly.
- Any damage that has been caused due to wear and tear or the commodity has deteriorated gradually, or slowly developed flaws are not covered.
- Any consequential losses that have to be suffered due to instances such as reduction in market value of the goods are not covered.
- Any claim that arises out of damage that has been caused by the commencement of policy coverage is inadmissible.
- If any item is a part of a set and the set has been damaged. Then the pieces of the set that have not been damaged will not be compensated for.
How to Purchase Trade Insurance Policy
As you have by now understood the various benefits offered by our Trade Insurance Policy, let us elaborate on the process you must follow to purchase the office insurance online as well as offline.
Where to buy
Well, we perfectly comprehend the fact that being busy with your daily office tasks consumes most of your time and thus might not be able to find time to subscribe to our comprehensive office insurance. Therefore, we have decided to simplify the process for subscribing to our Trade Insurance Policy through multiple channels which you can choose according to your convenience. You have the option to buy office insurance online or offline. Irrespective of the fact from where you buy the policy, you will enjoy the same coverage and benefits against the selected list of perils.
Following is the elaborate procedure that you must undertake in order to buy office insurance online as well as offline through any of the selected channels. You need to comprehend this process carefully and thereafter take a decision regarding the suitability of a channel to purchase your policy.
- Company Website
Buying through our company portal is one of the most convenient and secure ways to buy office insurance online. Process to purchase the trade insurance is as-
- Click on the button named “Buy Online”.
- Thereafter you will be directed to the next page where you need to enter all the details related to your business as well as a few personal details.
- Then you must select the perils against which you want the protection. Once you have filled all the necessary details and have selected the relevant option, click on the button “Calculate Premium”.
- This will direct you to a new page where you will able to see your premium liability and check all other details you have entered.
You must recheck all the details that you have entered and then proceed ahead to make the payment using any of the various payment methods available to purchase your office insurance online.
As there are no middlemen involved, you are entitled to the lowest premium for the purchase of your Trade Insurance Policy when you decide to buy office insurance online.
While filling out the forms or making the payment, our customer support team will be more than happy to assist you for any questions or queries that you might have. You can choose to either initiate a live chat or you can call us at our toll-free number 1-800-103-5499. Our customer service team is available round the clock to help you with any issues that you may be facing. They are well versed in various aspects of the Trade Insurance Policy and can dissuade all your doubts instantly.
When you buy office insurance online, the most significant benefit that you enjoy is of instant coverage. As soon as you successfully complete the payment process, you, your office and belongings and selected employees are protected against all the perils that you have opted for. If you are facing any issues while making an online payment or have made the payment but have not yet received the confirmation, do not panic. Just get in touch with our customer service team, and they will resolve all your issues instantly.
- Customer Care Support
Our customer care support team is always ready to help you with any issues that you are facing and are only a phone call away from you. When you have any doubts regarding anything related to the office insurance policy, you can get in touch with them, and they will surely help you out. You can openly discuss all your requirements, doubts and questions with them, as they are well versed with various facets of the policy they will be able to provide you with an appropriate solution in no time.
When you have decided to purchase our office protector policy and do not want to pursue any of the available online payment methods, you should call our team at the toll-free number 1-800-103-5499. When you are connected with an operator, just let them know that you want to purchase a new policy and they will help you out immediately. They will fill out all your relevant details on the form and would then ask you for your choice of coverage. They will also let you know regarding various documents that you must keep ready. Then they will fix an appointment with you to send the collection executive to come to your premises, get the policy proposal form signed and also to collect all the documents along with an account payee cheque or demand draft.
As soon as the proceeds from your cheque are realised, your policy would come into effect. You will also receive your policy document through courier/registered post at your specified address.
- Company Offices
We have a vast network of company offices spread throughout the country for your convenience. If you are interested in purchasing the Trade Insurance Policy, you can walk into any of our offices and have a one on one discussion with our sales executives. They will inform you regarding the various aspects of this office insurance policy and its benefits. Then you can inform that you are interested in buying the policy. They will help you fill out the application form and attach the necessary documents. Thereafter you can pay your policy premium through cash/cheque or demand draft. When you pay the premium in cash, your policy comes into effect immediately, and in case of cheque or demand draft, you would have to wait till the instrument is cleared by your banker.
Important Terms and Conditions
- Reasonable Precaution and Care of Property
You are expected to exercise due care to ensure the safety of the insured property and also make all efforts to minimize the damage caused to the property. If it is found that due to coverage offered by your policy, you did not exercise due caution, then your claim might not be reimbursed. In case of electronic equipment, it is expected that you will comply with the guidelines specified by the manufacturer. You are also expected to employ only those employees who are of sound health and mind and are competitive at what they do.
You should send every written notice and communicate to our registered office address. This would be the branch from where your policy has been issued.
- Disclosure of information norm
If it comes to our knowledge that there has been misrepresentation or concealment of material information from your side, then it would lead the policy to be cancelled with immediate effect and the premium for the remaining period shall be forfeited.
- Free Look-up Period (Personal Accident Section only)
When you purchase the policy, you will have a free look-up period of 15 days from the date of receipt of the policy. In case you do not agree to any terms and conditions of the policy, you can cancel the same by giving us a written notice specifying the reason for cancellation.
The refund for the premium paid shall be subject to the following conditions: -
- Refund of the premium less any expenses incurred by us.
- If the risk coverage has already started and you exercise your right to cancel the policy, the refund would be made after deducting the proportionate premium for the period the policy has been in effect and less any expenses incurred from our side
- If only a part of the risk has commenced, then the refund shall be paid after proportionately deducting the risk premium for the period and expenses incurred by us such as medical examination and stamp duty.
- Changes in Circumstances
You are supposed to inform us regarding any changes in the information that you have provided in the policy such as your particulars, details of your employees, change in your office premises or any other individuals covered by the policy. These can include change of address of your office, or if the insured building is vacant or unoccupied for more than 30 days. If there are any changes in the structure of the building or property or if you have undertaken any alterations, you must notify us regarding the same. If we do not receive any written communication from your side regarding any such change, the policy cover shall cease to exist, and you shall be vulnerable to losses.
- Claim Procedure and Requirements
In case of occurrence of any event that might become a claim under the policy, shall be reported to us as soon as possible. You are required to furnish a written statement along with the completed claim form along with all supporting documents such as invoices, bills, police report, and estimates. All these documents along with necessary details shall be sent to the office with your policy is registered within 15 days of such event. It should also include details of any other insurance covering the same damage.
You must inform the police immediately regarding any burglary attempted burglary, damages caused due to strikes, riots or any act of vandalism. You are supposed to take all necessary steps to apprehend the accused person(s) and recover the stolen property
If there has been a claim filed against you or your partners or employees covered under the policy, then the notices, writ, summons, verbal notice etc. shall be conveyed to us immediately. Without our prior consent, you shall not indulge in any negotiations with any third party, and you shall not admit to any claim or agree to any compensation without our consent. You are expected to extend all assistance to our representative to finalize such negotiations on your behalf.
If there is a claim under the section pertaining to Personal Accident, you or your authorized representative must send us a written intimation within 14 days (Fourteen days) of occurrence of such injury or death. All reports/certificates/ evidence/prescriptions from a registered medical practitioner shall be sent to us along with the written intimation. You shall extend full co-operation to our medical representative to conduct any medical examinations and tests as we deem ok.
If it is found out that any claim filed by you or your representative pertaining to you, your property or any other person covered under the policy is fraudulent, then all the benefits extended under the policy shall be withdrawn.
- Cancellation of Policy
We reserve the right to cancel the policy by sending a 15 day's written notice to your last updated registered address. In such a scenario you will be entitled to refund of the premium on a pro-rata basis from the date of cancellation of the policy to the period remaining. This refund is payable on demand only and shall be processed only if we receive a written intimation from your side.
In case you are no longer interested in enjoying the coverage provided by our policy, you are at your discretion to cancel the policy by giving a 15-days written notice to us at our registered address. Depending on the fact if you have filed any claim with us or not, we shall refund the premium on the following basis: -
|Period of Cover
||Premium to be withheld
|Exceeding 9 months
**To understand exactly about the policy coverage, exclusions etc, please read the Policy Wording carefully.**