Bharat Sookshma Udyam Suraksha Policy
New MSME cover effective from 1st April 2021
The Bharat Sookshma Udyam Suraksha and Bharat Laghu Udyam Suraksha policies, effective from 1st April 2021, replace the Standard Fire and Special Perils Policy (SFSP) for business risks. These policies provide comprehensive coverage for businesses with a sum insured ranging from Rs. 5 Crores to Rs. 50 Crores. Key benefits include mandatory coverage for earthquake, STFI, and terrorism, reinstatement/replacement value for assets, and premium adjustments with an underinsurance waiver. Additionally, businesses are protected against external damage, with claims based on the actual value of damaged stock. The policies encourage full asset coverage, ensuring businesses are adequately protected from unexpected losses.
Key Benefits
- Comprehensive coverage for risks like earthquake, STFI, and terrorism.
- Reinstatement value for assets.
- Stock loss coverage based on stock type.
- Premium adjustments and underinsurance waiver.
- External damage protection.
Health Cover Up
to ₹50 Lacs
What is Bharat Sookshma Udyam Suraksha Policy?
The Bharat Sookshma Udyam Suraksha Policy, launched on 1st April 2021, replaces the Standard Fire and Special Perils Policy for businesses. It offers comprehensive coverage for businesses with assets up to Rs. 5 Crores, including protection against risks like earthquake, STFI, and terrorism.
Why do you need Bharat Sookshma Udyam Suraksha Policy?
Business Protection
Secure your assets like buildings, machinery, and stock from fire, floods, and other risks.
Mandatory Risk Coverage
Includes built-in coverage for earthquake, STFI, and terrorism—no opt-outs allowed.
Avoid Financial Loss
Covers actual value of stock and assets, reducing financial burden after damage.
Full Asset Security
Policy requires complete coverage—no partial insurance—ensuring total protection.
Why choose Insurance Manager to protect your business?
Expert Guidance
Get the right policy tailored to your business needs with professional support.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Complete Policy Handling
From documentation to claims, we manage the entire process for you.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Seamless Coverage Updates
Easily adjust your sum insured or coverage as your business grows.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
Claim Support When It Matters
Quick response and assistance during loss events to minimize downtime.
What does Bharat Sookshma Udyam Suraksha Policy cover and exclude?
Plan Coverage
Comprehensive Property Coverage
Covers building, plant & machinery, furniture on a reinstatement or replacement value basis.
Stock Protection
Covers loss of raw materials, stock in process, and finished goods based on respective cost values.
Terrorism Coverage
Includes terrorism as a compulsory insured peril.
Natural Calamities
Mandatory protection against earthquake, storm, flood, and inundation (STFI).
Accidental External Damage
Covers accidental impact from vehicles, falling trees, or heavy external objects.
Sum Insured Restoration
Allows restoration of original sum insured after a claim, with proportionate premium.
Machinery in Transit for Repairs
Temporary removal of machinery for repairs or cleaning (up to 60 days) is covered.
Waiver for Underinsurance (Up to 15%)
Provides protection from partial underinsurance up to a 15% margin.
Major Exclusions
Intentional or Willful Damage
Losses caused by deliberate, intentional, or fraudulent acts are not covered.
War & Nuclear Risks
Excludes damages caused by war, nuclear radiation, or related hazards.
Pollution and Contamination
Damages due to pollutants or contamination are not included.
Theft & Mysterious Disappearance
Theft or unexplained loss of items like antiques or valuables is excluded unless specified.
Cold Storage Spoilage
Deterioration of stock in cold storage is not covered under this policy.
Loss of Income
Consequential losses, such as loss of earnings or business interruption, are not covered.
Market Value Drop Post-Repair
Reduction in property value after repair or reinstatement is not reimbursed.
Partial Asset Insurance
Policies do not allow insuring part of the asset—full coverage is mandatory.
Your Journey to Insurance Manager
When can I Claim?
A claim is valid when the damage or loss is caused by events covered under the policy.
- When your insured property is damaged by fire, earthquake, or natural disasters like flood or storm.
- If your stock is partially or fully damaged due to a covered peril.
- When there is accidental impact from vehicles or falling external objects.
- If machinery or equipment is damaged while on repair (within 60 days).
Claim what’s yours with Insurance Manager
Have more questions?
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