The 60-second version
Shopkeepers package policy bundles stock-in-trade, shop premises, plate glass, and burglary cover — IRDAI-standard package for kirana, pharmacy, and apparel retailers.
Package bundles stock + premises — cheaper than separate policies
Shopkeepers package policy is IRDAI-approved bundled cover for stock-in-trade, shop structure, fixtures, and burglary/theft during and after business hours.
Returning NRIs opening kirana, pharmacy, or apparel shop should insure at declared stock value — under-insurance triggers average clause on claim.
Jewellery lane: jewellers block policy guide for gold shops needing higher stock limits.
Shop insurance lanes
| Policy | Covers | Typical shop |
|---|---|---|
| Shopkeepers package | Stock + premises + burglary | Kirana / pharmacy |
| Fire policy | Premises only | Warehouse |
| Jewellers block | High-value stock | Gold / silver |
| Money insurance | Cash in transit | Multi-branch |
Shopkeepers package sequence
Stock valuation
Opening inventory count.
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Shop licence
Shop Act registration copy.
Policy issue
Named insured + address.
Monthly update
Revise sum insured on stock rise.
Retail cover loop
Shopkeepers kit
- Stock register.
- Rent deed.
- Shop Act licence.
- Policy schedule.
- Claim contact.
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Average clause
If insured stock value is below actual stock at loss date, insurer pays proportionally — update sum insured before festival season.
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vs fire policy?
Package includes stock; standalone fire policy covers premises structure only.
vs jewellers block?
Jewellers block for high-value gold stock; package for general retail.
GST on premium?
18% GST on insurance premium.
Employee theft?
Add fidelity guarantee rider if staff handle cash.
Home shop?
Declare mixed-use — residential exclusion may apply without endorsement.
Online + shop?
Marine cargo rider for goods in transit to customers.
The plan is only as good as the sequence.
Tax, banking, schools, shipping — they all have dependencies. A wrong order costs months and lakhs. Get it right.