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ROYAL SUNDARAM GENERAL INSURANCE CO. LIMITED (formerly known as Royal Sundaram Alliance Insurance Company Limited) Regd Office 21 Patullos Road, Chennai – 600 002. Corporate Office: Vishranthi Melaram Towers, No. 2/319, Rajiv Gandhi Salai (OMR), Karapakkam, Chennai – 600 097 Call: 1860 425 0000. Email – customer.services@royalsundaram.in Website: www.royalsundaram.in IRDA Registration No. 102 | CIN – U67200TN2000PLC045611 Royal Sundaram Bharat Sookshma Udyam Suraksha Standard Policy Wordings Contents Page No. Clause A. This Policy and the Insurance Contract 2 Clause B. Insured Events 9 Clause C. The Standard Cover 12 Clause D. Exclusions, that is, what We do not cover 17 Clause E. What We Pay 19 Clause F. Underinsurance 20 Clause G. Conditions 21 Clause H. Changes to covers 30 Clause I. Other details 30 Clause J. Grievances 31 Clause K. Information about Us 33 UIN: IRDAN102RP0014V01202021 Page 1 of 39 ROYAL SUNDARAM GENERAL INSURANCE CO. LIMITED (formerly known as Royal Sundaram Alliance Insurance Company Limited) Regd Office 21 Patullos Road, Chennai – 600 002. Corporate Office: Vishranthi Melaram Towers, No. 2/319, Rajiv Gandhi Salai (OMR), Karapakkam, Chennai – 600 097 Call: 1860 425 0000. Email – customer.services@royalsundaram.in Website: www.royalsundaram.in IRDA Registration No. 102 | CIN – U67200TN2000PLC045611 Royal Sundaram Bharat Sookshma Udyam Suraksha You chose this Royal Sundaram Bharat Sookshma Udyam Suraksha Policy and applied to Us for insurance covers of Your choice. You paid Us the premium and gave Us information about Yourself, Your Business and Your Property. Based on Your confirmation that this information is true and correct, and in return of accepting the Premium You have paid Us, We promise to provide You insurance as stated in this Policy Document and the Policy Schedule attached to it. Clause A. This Policy and the Insurance Contract 1. Your Policy: This Royal Sundaram Bharat Sookshma Udyam Suraksha Policy is a contract between You and Us as stated in the following: i. This Policy document; ii. The Policy Schedule attached to this Policy document; iii. Any Endorsement attached to and forming part of this Policy document; iv. Any Add-on to this Policy that You may have purchased from Us; v. The proposal and all declarations made by You or on Your behalf; 2. To whom this Policy is issued and what it covers: i. This Policy is issued to You and covers Your Insured Property relating to Your Business as mentioned in the Policy Schedule, where the total value at risk across all insurable asset classes at one location is not exceeding ₹5 Crore (Rupees Five Crore only) at the policy Commencement Date. Provided, if the value at risk for all Insurable Assets exceeds ₹5 Crore during the Policy Period, this policy shall, on expiry, be replaced by the applicable policy. ii. If more than one person is insured under this policy, each of You is a joint policyholder. Any notice or letter We give to any of You will be considered as given to all of You. Any request, statement, representation, claim or action of any one of You will bind all of You as if made by all of You. UIN: IRDAN102RP0014V01202021 Page 2 of 39 ROYAL SUNDARAM GENERAL INSURANCE CO. LIMITED (formerly known as Royal Sundaram Alliance Insurance Company Limited) Regd Office 21 Patullos Road, Chennai – 600 002. Corporate Office: Vishranthi Melaram Towers, No. 2/319, Rajiv Gandhi Salai (OMR), Karapakkam, Chennai – 600 097 Call: 1860 425 0000. Email – customer.services@royalsundaram.in Website: www.royalsundaram.in IRDA Registration No. 102 | CIN – U67200TN2000PLC045611 Royal Sundaram Bharat Sookshma Udyam Suraksha iii. If You have mortgaged, pledged or hypothecated any Insured Property with a Bank, the Policy Schedule will show an ‘Agreed Bank Clause’ and the name of such Bank. The terms and conditions of this arrangement will be added to the Policy as an additional Clause. 3. The Policy Schedule: The Policy Schedule is an important document about Your insurance cover. It shows: i. Your personal details, ii. the Policy Period, iii. the description of Your Insured Property, iv. the total Sum Insured, the Sum Insured for each cover, or for each block, set or category of Insured Property, and its limits and sub-limits for each and every location, v. the insurance covers You havepurchased, vi. the premium You have paid for these insurance covers, vii. add-on covers opted by You, viii. other important and relevant aspects and information. 4. Special Meanings of Words: Words stated in the table below have a special meaning throughout this Policy and the Policy Schedule. These words with special meaning are stated in the Policy with the first letter in capitals. Word/s Specific meaning Agreed Value An amount agreed between You and Us at the Policy Commencement Date for items the value of which cannot be ascertained. Bank A bank or any financial institution UIN: IRDAN102RP0014V01202021 Page 3 of 39 ROYAL SUNDARAM GENERAL INSURANCE CO. LIMITED (formerly known as Royal Sundaram Alliance Insurance Company Limited) Regd Office 21 Patullos Road, Chennai – 600 002. Corporate Office: Vishranthi Melaram Towers, No. 2/319, Rajiv Gandhi Salai (OMR), Karapakkam, Chennai – 600 097 Call: 1860 425 0000. Email – customer.services@royalsundaram.in Website: www.royalsundaram.in IRDA Registration No. 102 | CIN – U67200TN2000PLC045611 Royal Sundaram Bharat Sookshma Udyam Suraksha Word/s Specific meaning Building Any building or structure in Your Premises, where You carry on Your Business. It includes: a. Basement (if any), all fixtures and fittings permanently attached to the floor, walls or roof like electrical wiring, antennas etc. b. The following ‘additional structures’ located on Your Premises and used for Your Business, that are shown in the Policy Schedule: i. garage, out-houses, security sheds, towers, verandah or porch, tanks, compound walls, retaining walls, fences, gates and internal roads, ii. lifts, hoists, iii. solar panels, wind turbines and air conditioning systems, central heating systems, security systems and cameras, electrical installations, fire alarm, fire sprinkler systems, power lines, power installations, iv. water, gas and sewage pipeline within Your premises or v. any other structure shown in the Policy Schedule. Business Your commercial enterprise, trade or profession as shown in the Policy Schedule. Commencement Date It is the date and time from which the insurance cover under this Policy begins. It is shown in the Policy Schedule. UIN: IRDAN102RP0014V01202021 Page 4 of 39
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