SME

SME Service By WinRich Professional Services Pvt Ltd

SME Insurance, also referred to as SME Package Insurance, is a Commercial insurance policy specifically designed to protect small medium enterprises from the most commonly occurring risks under one convenient “umbrella” or product.

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What is SME Insurance?

SME Insurance, also referred to as SME Package Insurance, is a Commercial insurance policy specifically designed to protect small medium enterprises from the most commonly occurring risks under one convenient “umbrella” or product. These typically include Property Insurance (covering buildings, contents, stock, equipment etc against material damage, loss or theft), Liability Insurances (Workmens’ Compensation, Public Liability, Products Liability), Money (whether on the premises or in transit), Goods in Transit (items being transported by road between locations such as a shop or warehouse), Employee Dishonesty & Personal Accident to name the main lines.

Some Insurers also offer dedicated, specialist policies catering for specific industry segments, such as Education, Healthcare clinics and Retail insurance cover. These policies operate on a package basis but include a suite of insurances to suit the unique operational/trading needs of these businesses.

What does SME Insurance cover?

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Features and Benefits of SME Insurance:

  • Contents: Whether you are a shop, office, salon or cafeteria, your business will have essential items needed to help you run your business and support your customers. For example, offices will have computers, desks, chairs. Shops will have shelving and racking systems and cash registers/electronic point of sale devices. Make sure these items are suitably protected against risks such as fire, water damage or theft.
  • Stock: If you are a retail business in particular, this is a critical cover to ensure you can continue to trade if you suffer a loss. Under a dedicated Retail SME insurance policy Stock can be covered in a variety of ways: for example, whilst in road transit between locations, whilst in the shop/retail outlet against common perils such as fire, water damage etc, and even in the freezer/chiller cabinet where it is protected against appliance failure/interruption of power supply (this is known as Deterioration of Stock cover).
  • Business Interruption: Often referred as Loss of Profits insurance, this business continuity cover gets your business back on track by recompensing profits lost directly as a result of an insured event, as well as additional essential costs to rebuild your business.
  • Public Liability: This essential cover protects against your legal liability to your customers/clients and other third parties for their accidental injury in the course of trading with you. It further covers your liability for loss or damage to the property of your customers, neighbours, landlord and other third parties. Important to note, this cover is a legal requirement so good to know that it’s a standard cover in these Package policies.
  • Workmens’ Compensation/Employers’ Liability: As an employer, you have a duty of care to your employees and any accidents, injury, disease or death suffered by them whilst carrying duties in connection with their employment, would be covered under this invaluable insurance.

Motor Insurance

Cover your vehicles from potential risks financially.

Travel Insurance

Travel Insurance gives you the power to take a step back and enjoy your travel experience.

Fire Insurance

Claim damages done due to fire related insurance

Home Insurance

Protecting your home with insurance will give you a sense of security

Why is SME Insurance important?

If you own a small or medium-sized enterprise (SME) you need access to insurance products to protect your business if things go wrong. Whether you’re a start-up or a more established company, the impact that any physical or financial loss or indeed any trading interruption has on your business can be huge. 

Building up a business takes considerable time and money and something that most small to medium enterprises can ill afford. Aside from the actual money lost due to damage to or loss of physical items there are also more “invisible risks” to consider like liability to employees (Workmens’ Compensation) and customers/visitors (Public Liability) and also those that are consequential and intangible, such as disruption (Business Interruption/Loss of Profits) and reputational damage. A good SME Package Insurance can help to protect you so that in the event of many different types of loss, you get practical, expert help to manage and contain the situation, as well as financial assistance to cover your losses.

Address

No: 183, Viharis Travels Bldg, 15th cross, Margosa road, Malleshwaram, Bangalore – 560 055
KARUNA COMPLEX with unit no. G4 , Ground floor, 337/3, Sampige Road, Malleswaram, Bangalore 560003

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Email: knsridharan@winrich.in
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Bangalore, Karnataka

No: 183, Viharis Travels Bldg, 15th cross, Margosa road, Malleshwaram, Bangalore – 560 055
KARUNA COMPLEX with unit no. G4 , Ground floor, 337/3, Sampige Road, Malleswaram, Bangalore 560003