HDFC ERGO Consequential Loss Fire Insurance Policy

Consequential Loss Fire Insurance Policy

Your business is an extension of you. It is the sum of the efforts and aspirations of your staff and your near and Dear ones.

When it comes to protection of your business and assets, HDFC ERGO is known as the best insurance firm who’ll get you back on your feet with minimal fuss. In fact, we go one step further and cover you for the losses  incur from disruption to your business following a fire. So that you can catch a dreak knowing that the best people will support you through the financial consequences – the after effects of the devastation.

HDFC ERGO is with you all the way till your business is restored to its pre-damaged level.

This policy is Ideal for SME’s and Corporates alike, those who need coverage for their business against uncontrollable situations that can devastate property and businesses. This Policy goes with SFSP policy and can not be opted on standalone basis.

  • In the event of any interruption to your business as a result of damage to your premises due to any peril insured under the Fire Material damage Policy, this policy enables you to recover:
  • Loss of Gross Profit due to a reduction in turnover
  • Increased Cost of Working incurred in minimising that loss of Gross Profit
  • As an extension of your policy, you can choose to financial covers against the following events –
  • Wages
  • Lay-off and Retrenchment Compensation and Notice Wages Liability
  • Auditor’s Fees
  • Supplier’s Extension
  • Customer’s Extension
  • Public Utilities Extension
  • Terrorism
  • This is based on the estimated annual gross profit of your business as per the previous year’s accounts. An Insured is entitled to return of premium (not exceeding 50% of the premium paid) in case the Gross Profit earned during the financial year concurrent with the period of insurance is less than the Sum Insured.
  • Premium will depend on the occupancy, Annual gruff profit, indemnity period selected and extensions selected.
  • The policy is subject to a compulsory excess.
  • The exclusions would be the same as for your Fire Material damage cover.