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    Property Insurance

    Shield your business with robust property coverage against fire, explosion & natural calamities. Multiple policy options for all business sizes.

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    Commercial Insurance

    Property Insurance

    PropertyInsurance

    Key Features

    Shield Your Business With Robust Property Coverage

    Coverage Highlights

    Get comprehensive coverage for your business
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    • Comprehensive Coverage

    Covers businesses against fire, explosion, and natural calamities for damage to buildings, property, stock, contents, fittings, fixtures, and plant machinery

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    • Financial Protection for Enterprises

    Empowering enterprises with financial protection against unexpected troubles

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    • Wide Range of Options

    Multiple policy options to choose from as per your unique business needs

    Types of Property Insurance Policies

    Choose the policy best suited for your unique requirements
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    • Bharat Sookshma Udyam Suraksha

    Suitable for MSME's with risk value upto INR 5 crs per location

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    • Bharat Laghu Udyam Suraksha

    Suitable for MSME's with risk value from INR 5 crs upto INR 50 crs per location

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    • Standard Fire & Special Perils Poliicy

    Named Peril Policy suitable for all types of risk having sum insured above INR 50 crs

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    • Industrial All Risk

    All Risk cover suitable for industrial risks having sum insured above INR 50 crs

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    • Many more

    Property miscellaneous policies such as Burglary & Theft, Money etc. which compliments the above policies

    What Is Property Insurance?

    Buying property insurance means you have protection for your building, business assets, and contents against theft, fire and natural disasters. Property insurance reduces financial impact and financial stress when your shop, office, warehouse, or factory experiences damage due to natural disasters. That way, you can replace or repair your important assets without draining your savings.

     

    Property insurance is actually useful for businesses of all sizes, from a small shop to large industrial setups. You can customize this insurance policy for business, commercial, office, or industrial property insurance.

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    Quick Overview

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      Protects Business Property: Your property insurance covers damage or loss to commercial contents, buildings, and equipment.

    • 2

      Commercial Property Protection: A commercial protection insurance plan protects your office, shop, factory, or warehouse under the same plan.

    • 3

      Fire and Property Insurance: Having property damage insurance is helpful to get coverage against lightning, fire and other incidents for the property.

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      Protects against Disaster: Property insurance against fire and natural disasters protects your home and helps rebuild damaged belongings.

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      Affordable Insurance: You can choose an affordable property insurance plan for businesses with zero deductibles and a suitable sum insured.

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      Customisable Coverage: Property protection insurance with riders or add-ons and zero limitations is needed for unique business needs.

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      Instant Online Purchase: You can purchase property insurance for commercial buildings, assets, and offices online within a few steps.

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      Claim Support: Receive guidance for commercial building insurance claims when you need it most.

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    Why Do You Need Property Insurance?

    Your business property deals with risks daily, from fires and storms to accidents and theft. However, a strong property protection insurance coverage shields your assets and keeps your operations running. More reasons to invest in property insurance:

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    Offices

    Shops

    Shops

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    Industrial Units

    Offices

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    Protect your Property, Safeguard your Assets

    Tailored protection for your business needs—because each business is unique!

    Unique Features of Bajaj General Insurance Limited Property Insurance

    Bajaj General Insurance offers customisable property insurance plans with unique features because we believe every business is different and has different needs. Here are some benefits and features of property insurance from Bajaj General Insurance:

    What are the Types of Property Insurance Plans?

    My Home Insurance All Risk Policy

    This plan protects your house and belongings against fire, theft, and other listed dangers. It works as asset protection insurance for homeowners and people who run small offices from home. You get broad property coverage insurance for your residence and valuables, so you handle unexpected damage with less stress.

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    Commercial Property Insurance Plan

    Commercial property insurance coverage shops, showrooms, and offices. It includes building insurance for the structure and business property insurance for fittings, fixtures, and contents. It suits small shops and growing firms that want steady cover for daily work against listed risks.

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    Industrial Property Insurance Plan

    Industrial property insurance fits factories, plants, and large industrial units. It covers buildings, machines, utilities, and stock against insured events. This option works well for big facilities and supports long-term safety for property insurance for offices and factories inside your industrial site.

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    Commercial Building Insurance Plan

    Commercial building insurance focuses on the structure of office blocks, business complexes, and rented properties. You can add property damage insurance for common areas and shared facilities. It protects your business, including contents, stock, and machinery, from any fire-related damage.

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    Business Property Insurance Plan for MSMEs

    These business property insurance plans serve micro, small, and medium-sized firms that need affordable coverage. It gives a simple way to protect shops, clinics, factories, and small units from common risks.

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    Office Property Insurance Plan

    Office property insurance covers corporate offices, co-working spaces, and service firms. It protects interiors, computers, equipment, and furniture from listed risks. The best property insurance for SMEs that covers business assets, natural disasters, and fire is the Bharat Laghu Udyam Suraksha Policy from Bajaj General.

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    What are Optional Add-Ons in Property Insurance?

    You can enhance your property insurance policy coverage with additional riders or add-ons based on your risk.

    What is Not Covered Under Property Insurance?

    If you buy the best property insurance policy for businesses, it might have some exclusions. Individuals must carefully read exclusions before buying property insurance.
    Damage due to invasion, war, or similar war-like operations.
    Normal wear and tear of property or any gradual deterioration.
    Loss or damage due to any illegal activity or unlawful use of property.
    Intentional loss or damage caused by the policyholder.
    The property was in a defective condition due to poor maintenance.
    Theft claims without any FIR submission or caused by employee involvement.
    Any loss outside the location or territorial limits under the policy terms and conditions.
    Loss of records, data, or any electronic information unless covered.
    Mechanical or electronic breakdown unless specifically covered.

    How to Buy Property Insurance Online?

    You can secure your assets fast when you buy property insurance online. Follow these simple steps to buy property insurance from Bajaj General Insurance.
    Open the Bajaj General Insurance app and select property insurance.
    Add basic details like property location, type, and estimated value.
    Pick the right property coverage insurance.
    Choose commercial property insurance or commercial building insurance based on your needs.
    Select add-ons for fire and property insurance or property damage insurance against storms and other listed risks.
    Check the premium, coverage limits, and terms. Then complete the safe online payment.
    Get your policy details and payment receipt by email. Save it for claims and future use.

    How to Choose the Right Property Insurance Cover for Your Team?

    The right plan keeps your workplace and daily work safe. Here are the useful tips to decide on the right property insurance.

    What are the Documents Required for Property Insurance?

    As an applicant, you must keep the following documents ready to complete your property insurance process faster and hassle-free:
    Ownership proof, such as a lease agreement, sale deed, or property tax receipt.
    Property location details, including complete address.
    Applicant identification proof, such as Aadhaar card, PAN card, or passport.
    Estimate of building and contents or latest valuations.
    Property and business registration details if you are applying for commercial property insurance.
    Previous insurance policy details, if you had any, or if you switched or are renewing the plan.

    What are the Property Insurance Terms You Need to Know About?

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      Sum Insured: Sum insured is the highest amount your insurer pays for a covered loss. You can choose a sum-insured amount based on your property cost and the policy rules.

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      Deductible: A deductible is the part of the loss you pay first. The insurer then covers the rest above that limit, as stated in your building insurance policy.

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      Insured Property: Insured property covers the buildings, contents, machines, and other assets you list in your business property insurance schedule. You must mention each item to get coverage.

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      Named Perils: Named perils are the specific risks your policy lists, like fire, lightning, or storms. Property damage insurance protects you only for those listed events.

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      All-Risk Cover: All-risk cover protects against sudden physical loss or damage, except for exclusions in the policy. Read the terms to know what stays out of cover.

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      Reinstatement Value: Reinstatement value pays to replace damaged property with a new item of the same kind. The insurer does not deduct money for depreciation under property insurance.

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      Indemnity Basis: Indemnity basis means the insurer pays the current value after deducting depreciation. You receive the items worth today, not the full replacement cost.

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      Property Damage in Liability Insurance: In liability coverage, property damage means physical loss to another person’s property. Your firm may face a legal duty to pay if you cause that loss.

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      Business Interruption: Business interruption cover pays for lost income and extra costs when insured damage stops your work. Industrial property insurance often pairs with this feature to reduce downtime.

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      Policy Exclusions: Policy exclusions list events and causes that the plan will not cover. You must read exclusions to set the right expectations from office property insurance.

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    Step-by-Step Guide

    How to Buy Property Insurance Online?

    How to Buy

    • 1

      Visit the Bajaj General Insurance website

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      Fill in the lead generation form with accurate details

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      Get quote, make payment and receive the policy documents

    How to Renew

    • 1

      Contact the Policy Issuing Office

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      Review expiring policy and share necessary details

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      Receive renewal quote

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      Make renewal payment

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      Receive the renewed policy documents via email

    How to Claim

    • 1

      Contact us through our customer service touchpoints

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      Submit the claim form along with the necessary documents

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      Provide details of the incident and any supporting evidence

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      Cooperate with the claims investigation process

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      Receive the claim settlement as per the policy terms

    Know More

    • 1

      For any further queries, please reach out to us

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      Toll Free : For Sales :1800-209-0144

    • 3

      Email ID: careforyou@bajajgeneral.com

    Frequently Asked Questions on Property Insurance

    What does property insurance cover?

    This policy covers losses due to fire, lightning, explosion, and implosion. It also includes coverage for damage caused by riots, strikes, malicious acts, storms, floods, and earthquakes. Business owners can ensure financial security against property damage and can add extra coverage for additional perils as required.

    How is the sum insured determined for property insurance?

    The sum insured is calculated based on the rebuilding cost of the property, current market value, and the value of contents. An accurate assessment ensures that, in the event of a claim, the insurer provides sufficient funds to repair or replace damaged property, preventing underinsurance and minimising financial risk during recovery.

    What add-on covers are available for property insurance?

    Yes, the policy can be enhanced with add-ons such as debris removal, professional fees, spontaneous combustion, cold storage deterioration, spoilage material damage, and more.

    How does property insurance handle natural disasters?

    Property insurance typically includes coverage for natural disasters such as floods, earthquakes, storms, and lightning. Some policies may require additional endorsements or premiums for full disaster coverage. This protection enables homeowners and businesses to recover quickly by covering repair or replacement costs after severe weather events.

    What is the claims process for property insurance?

    When damage occurs, promptly notify the insurer and file a claim with necessary documentation, including photos, repair estimates, and incident reports. An assessor reviews the claim, and once approved the insurer issues compensation for repairs or rebuilding. This efficient process helps property owners regain financial stability with minimal delay.

    What perils are typically covered under property insurance?

    Property insurance generally covers losses due to fire, lightning, explosion, implosion, riots, strikes, malicious acts, storms, floods and earthquakes. Additional coverage for other perils can often be added as needed.

    Does property insurance cover the loss of rent?

    Yes, loss of rent can be covered as an add-on. If the insured property becomes uninhabitable due to a covered peril, the policy may compensate for lost rental income, providing financial stability during property restoration.

    Are stocks and inventory covered under property insurance?

    Yes, stocks and inventory stored within insured premises are typically covered against fire-related damages. Additional coverage can be opted to protect against theft or spoilage due to perils like floods or storms.

    What types of property can be insured under property insurance?

    Property insurance can cover various types of properties, including residential homes, commercial buildings, industrial facilities, and rental properties. Each type of property may have specific coverage options tailored to its unique risks.

    Does property insurance cover natural disasters?

    Yes, property insurance typically covers natural disasters such as earthquakes, floods, and storms. However, coverage for certain natural disasters may need to be added as an addition to the standard policy.

    What is the claim process for property insurance?

    In case of a loss, notify the insurer immediately and provide details of the damage. Submit supporting documents like incident reports and any other required documents. A surveyor will assess the loss, and once approved, the claim will be settled as per policy terms.

    How long does it take to settle a property insurance claim?

    The time to settle a claim can vary depending on the complexity of the claim and the documentation provided. Generally, it can take anywhere from a few weeks to several months.

    What should I do if my claim is denied?

    If your claim is denied, review the denial letter to understand the reasons. You can appeal the decision by providing additional evidence or documentation to support your claim.

    Can I claim for temporary accommodation costs?

    Yes, many property insurance policies include coverage for additional living expenses if the insured property becomes uninhabitable due to a covered peril, This can cover temporary accommodation costs.

    What is a deductible in property insurance claims?

    A deductible is the amount you are responsible for paying out of pocket before the insurance coverage kicks in. It is usually specified in the policy and can affect the premium amount.

    How often should I renew my property insurance policy?

    Property insurance policies are typically renewed annually. It's important to review your coverage and make any necessary adjustments at each renewal.

    Can I switch insurers at the time of renewal?

    You can’t switch insurers at the time of renewal, but you can opt for a different insurance policy with a new insurer if you feel it’s necessary.

    What happens if I miss the renewal date?

    If you miss the renewal date, your coverage may lapse, leaving your property uninsured. Some insurers offer a grace period, but it's best to renew on time to avoid any gaps in coverage.

    Can I make changes to my policy at renewal?

    Yes, you can make changes to your policy at renewal. This includes adjusting coverage limits, adding or removing coverage, and updating any information about the insured property.

    Will my premium change at renewal?

    Premiums can change at renewal based on various factors, including changes in coverage, claims history, and any updates to the insured property. It's important to review the renewal terms carefully.

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    What Customer Say About Bajaj General Property Insurance

    Smooth Buying Process

    The online policy purchase was quick and seamless. I could easily compare multiple options and choose the best one for my needs. The entire process was hassle-free, and I received my policy instantly.

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    Laksh Gupta

    New Delhi

    4.6

    15th Jan 2025

    Exceptional Customer Support

    The customer support team was extremely helpful and guided me through every step. They promptly answered my queries and ensured a smooth experience. I am happy with the service.

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    Jaya Dhawan

    Maharashtra

    5.0

    8th Feb 2025

    Instant Policy Issuance

    I was amazed at how fast I got my policy. The process was very user-friendly, and within minutes of completing the payment, I received my documents. Highly recommended!

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    Manish Garg

    Uttar Pradesh

    4.8

    22nd Dec 2024

    Hassle-Free Claims Process

    The claim process was smooth and efficient. The team handled everything professionally, making sure I didn’t face any difficulties. It was truly a hassle-free experience.

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    Meera Rishi

    West Bengal

    4.7

    3rd Feb 2025

    Best Value for Money

    The policy offers great coverage at an affordable premium. The features are well-designed, and I feel secure knowing I made the right choice. Great service overall.

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    Sujal Sharma

    New Delhi

    4.9

    10th Jan 2025