Petrol Pump Insurance
This is a combined policy to provide cover to owners and petrol pumps against material loss or damage to the pump and third-party liability risks. The policy can be issued to the Dealer of Petrol. Package policy for petrol pumps, CNG stations, and the properties residing in the petrol stations. This brings the flexibility of structuring the policy as per your demands. It helps you to choose the covers to protect your property and staff, all within a single policy.
Gas and Petrol pump dealerships might have started distributing standardized insurance products. Nearly 61,000 fuel pumps are there in the country and almost 25,000 LPG dealers can take the insurance distribution to smaller towns and even villages.
Scope of Policy:
● Standard Fire and Special Perils Policy covers losses due to fire, God acts and other unwanted perils.
● Glass Policy covers any loss or damage to fixed glass due to breakage by any accidental, and visible
● Burglary Policy covers loss and/or damage by housebreaking (robbery following forcible and brutal entry of and/or exit) including damage caused to premises while attempting the same.
● Fidelity Policy covers a monetary loss that occurred as a result of an act of dishonesty or fraud w.r.t monies or goods of the employer done by the employees.
● Money Policy covers theft of money in transmission by the authorized employee(s) due to robbery, or any other unforeseen cause. It also covers loss by housebreaking or burglary, robbery, or money lost from the insured’s premises in a safe(s) or strong room.
● Public Liability Policy can be extended to get legal liability of the Insured towards losses to third parties in respect of bodily injury or accidental death or disease and loss or damage to property due to such accidents. Additionally, it covers legal expenses sustained with the prior consent of the insurer and between the limit of the assurance.
● Workmen’s Compensation or Employer’s Liability covers two types of risks viz,
Tabel ‘A’ – Under WC Act 1923 gives assurance against legal liability to all employees and subsequent amendment to the said Act
before the inception of the cover, and at Common Law.”
Table ‘B’ – Assurance against legal liability under the Fatal Accidents Act, 1855, and Common Law.
● Group Personal Accident Covers –
The policyholder in case of accidental death, loss of eyes and limbs, permanent total disablement, and/or permanent partial disablement.