Bharat Sookshma Udyam Suraksha Policy

This Policy gives three types of covers:

• Standard Cover for the building and structures, plant and machinery, stock and other assets relating to your
• In Built Covers: Under the Standard Cover if we agree to pay your claim for loss or damage to Insured Property, We will also pay for the following loss or damage and
  1. Additions, alterations or extensions: Property that You erect, acquire or add during the Policy Period is covered upto 15% of the sum insured for that item (excluding stocks).
  2. Stocks on floater basis: Loss to stocks located at more than one named
  3. Temporary removal of stocks: Loss to stocks temporarily removed to other premises for fabrication, processing or finishing upto 10% of
  4. Cover for Specific Contents: Cover for money upto ₹50,000 (Rupees Fifty Thousand) during the policy period, cover for documents such as deeds, manuscripts, business books, plans, drawings, securities , upto ₹50,000 (Rupees Fifty Thousand) during the policy period, cover for computer programmes, information and data upto ₹ 5 Lakh (Rupees Five Lakh) during the policy period and cover for personal effects of employees, Directors and visitors upto ₹15,000 (Rupees Fifteen Thousand ) per person for a maximum of 20 (twenty) persons during the policy period.

  5. Start Up Expenses: Start-up cost incurred by you, consequent upon a loss or damage due to insured events upto ₹ 1 lakh (Rupees One Lakh) during the policy
  6. Professional fees: Reasonable fees of architects, surveyors and consulting engineers upto 5% of the claim amount
  7. Cost of Removal of debris: Reasonable expenses for removal of debris upto 2 % of the claim
  8. Costs compelled by Municipal Regulations: Additional cost of reconstruction of property incurred solely for complying with municipal
• Standard Add-on

You can purchase the following standard Add-on on payment of additional Premium.

Declaration Policy for Stocks: Cover for frequent fluctuations in stock/stock values on declaration basis.

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We pay for physical loss or damage, or destruction caused to Insured Property by the following unforeseen events. The events covered are given in the Column A and those not covered in respect of these events are given in Column B.

Bank of Baroda is authorized by the Insurance Regulatory and Development Authority to act as a Corporate Agent from 01/04/2022 to 31/03/2025 for procuring or soliciting business of Life insurance, General insurance & Standalone Health insurance under Registration Code CA0004". Insurance is the subject matter of solicitation. For more details on risk factors, terms and conditions please read the sales read sales brochure carefully before concluding a sale. The purchase of Insurance products by Bank of Baroda customers is purely on a voluntary basis. The insurance products are underwritten by the respective insurance company. Bank of Baroda does not perform any insurance e-commerce activity on its website. The contract of insurance is between the insurer and the insured; and not between the Bank and the Insured.