Public Liability Insurance (Non-industrial Risks)
protects your business against third-party claims for injury or property damage in non-industrial settings
Most cities in India today have become IT hubs and at least one of your family members will be an IT professional. Most of people think IT environments are riskless and IT professionals sit in front of computers, play with keyboards and are back home. But the truth is accidental Insurance, bodily injury, and damage to property occurs not only in manufacturing industry, but also in non-manufacturing industries such as IT, BPO, an retail. The insurance policy that covers these risks in businesses where there is no manufacture is referred to as Public Liability Insurance (Non-industrial risks).
Here is the list of some non-manufacturing units:
- Schools, colleges, and universities
- IT companies
- Call centers and BPOs
- Offices
- Shops
- Godowns & warehouses
- Super markets
- Retail showrooms
There are some kind of risks in every company that are unexpected and uncontrollable. Risks plague people with I’ll health everywhere and they occur in places other than factories and industrial settings. Non-manufacturing risks refers to the risks or perils that arise at non-industrial units. The most common risk in an office you would have heard of is fire breakout.
If you’re a restorateur, a owner or cinema theatre or any non-industrial office, there can be events where the people visiting your premises can get hurt or encounter a disastrous accident and you will be liable for any bodily injury or loss of lives, caused by the unexpected occurrence. The Public Liability (Non-industrial) Insurance Policy comes to rescue to tackle the risks involved in non-industrial sectors with ease. It will protect you from financial worries in such circumstances. It is a cover for third-party liabilities (bodily injury or property damage) that arise in non-industrial premises.
Key Benefits of the Policy
- The legal liability towards damages to the third party because of accidental death, bodily injury or loss of or damage to property.
- Legal costs and expenses incurred by you with prior consent.
- For more comprehensive protection, the policy can be extended to cover legal exposures that arises because of food & beverages, swimming pool extension, and custody & control.
Exclusions
This policy does not include:- TATA AIG
- HDFC Ergo
- United India Insurance
- Bajaj Allianz
How to get the best policy
Find a specialized industrial insurance policy provider
You must deal with specialists. Since specialized insurance companies that deal with Public Liability Insurance (Non-industrial Risks) can give you a comprehensive solution. You need to search for one skilled insurance service provider.
Run a comparison study
You can find several sites offering you information about the various insurance providers, their policies and reviews. By running a comparison study, you can easily find an insurance company that is right for your needs and requirements.
Seek professional help
It would be advisable to find professional help to understand the policy, because, at times, it can be too technical for you to understand, and a person who is expert in the insurance business can help you in spotting the right kind of policy for your business. The insurance expert can make you understand the legal terms associated with the policies.
Read the terms and conditions carefully
You should read the terms and conditions. For instance, you need to know about the social exclusions, the add-ons of the policy, and more. Hence, take out some time and read the terms and condition carefully before buying the insurance plan.
Never let the business be vulnerable to the unpredictability of nature and happenings. You can keep everything under control by availing the best Public Liability Insurance (Non-industrial Risks) for your business and act with a sense of urgency when things go wrong without prior notice. So, stay safe.