Warehouse & Godown Insurance Policy

Warehouse and godown insurance, known by multiple names like godown stock insurance or warehouse stock insurance, is a specialized policy that offers protection against the risks associated with storing and warehousing goods. Its primary purpose is to safeguard goods stored in warehouses or godowns by providing comprehensive coverage against various perils, including fire, theft, floods, natural disasters, and other specified risks.

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Why is it Important to buy Warehouse & Godown Insurance Policy?

Investing in warehouse insurance is a prudent decision that helps protect valuable assets and empowers businesses to navigate unforeseen hurdles with certainty. This insurance coverage plays a vital role in providing necessary protection, ensuring uninterrupted business operations, and instilling a sense of peace and security for insured individuals or organizations.

Warehouse and Godown Insurance: Inclusions

Warehouse insurance coverage includes the following perils:

  • Fire and Allied Perils Coverage: This policy protects a range of perils such as fire, lightning, explosions, riots, strikes, malicious damage, aircraft damage, storms, cyclones, tempests, floods, inundation, earthquakes, and similar risks.
  • Burglary and Theft: This coverage safeguards against losses resulting from theft, burglary, or housebreaking, including instances of forced entry or exit from the insured premises.
  • Accidental Damage: It covers losses arising from accidental damage to the insured stock, such as damage during handling, transportation, loading, unloading, and similar incidents.
  • Natural Disasters: This coverage includes losses caused by natural calamities like earthquakes, floods, storms, hurricanes, cyclones, or any other specified natural disasters.
  • Malicious Damage: It provides coverage against losses resulting from intentional damage or vandalism by third parties.
  • Spillage and Leakage: This coverage protects against losses caused by spillage or leakage of goods, including liquids or chemicals, leading to damage or contamination of the stock.

*To know more about the policy coverage, refer to the policy documents provided by the insurance company.

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Warehouse and Godown Insurance: Exclusions

Warehouse and godown insurance policies do not provide coverage for the following risks:

  • Willful Misconduct: Acts committed intentionally to cause damage or loss are not covered.
  • War, War-like Situations, or Invasion: Losses or damages resulting from war, war-like activities, or invasions are excluded from coverage.
  • Pollution or Contamination: Losses or damages caused by pollution or contamination are not covered.
  • Consequential Loss: Indirect or consequential losses resulting from insured events are not covered.
  • Costs, Fees or Claim Preparation Expenses: Any expenses incurred in preparing or filing a claim are not covered by the policy.

*To learn about the exclusions in detail, refer to the policy documents provided by the insurance company.

Factors Affecting Warehouse and Godown Insurance Premiums

The cost of warehouse and godown insurance can be influenced by various factors. Here are some points to consider, although the order has been shuffled:

  • Type of stock: Perishable or high-risk items may result in higher premiums.
  • Business size and history: Established and larger businesses may have lower costs.
  • Deductibles: Higher deductibles can lead to lower warehouse and godown insurance premiums.
  • Additional coverage options: Optional add-ons may increase the premium.
  • Value of stocked goods: The total value of the insured stock impacts the cost of warehouse and godown insurance.
  • Coverage limits: Higher coverage limits result in higher premiums.
  • Risk assessment: Industry risks and location influence the insurance charges.
  • Claim history: The frequency and magnitude of past claims affect the premium for warehouse and godown insurance.

Please note that each insurance provider may have their own factors and calculations for determining warehouse and godown insurance costs. It is recommended to consult with insurance professionals for accurate quotes and a better understanding of specific premiums.

FAQs: Warehouse and Godown Insurance


Written By: PolicyBazaar - Updated: 08 April 2024
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Policybazaar for Business - Fire Special Perils Insurance - Customer Reviews
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Based on 83 reviews
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Based on 83 reviews
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4.8 October 09, 2022
Amazing Customer Support
I am using a fire insurance policy from policybazaar and experienced amazing feedback from them in claim settlement. I have a sports merchandise shop that caught fire last yearI raised a claim which was resolved within a few days without any hassles.
4.8 October 08, 2022
Helpful Support
The support team of Policybazaar is really helpful and prompt. They solve all your queries fast. Would definitely recommend Policybazaar for purchasing insurance .
4.8 October 07, 2022
Extensive Cover
Got a fire insurance policy for my shop and it was really extensive with so many features. Purchased it from Policybazaar without paying any commission fees. Great coverage.
4.5 October 06, 2022
User Friendly Website
We deal in the cotton industry and suffered a huge loss last year because of the fire. We were looking for insurance to safeguard us financially from any such incident in the future. We landed on the policybazaar website and bought fire insurance. Their website is well managed and gives all the necessary information.
4.8 October 05, 2022
Plans Are In Budget
Had to purchase a fire insurance which should be in my budget as I run a very small store. Got a lot of affordable plans on Policybazaar and purchased the one that suited my budget. All plans are in budget and with so many features.
4.3 October 04, 2022
Covered My Shop
I have a shop of garments and it caught fire last year in which I lost items worth thousands. Purchased a fire insurance from Policybazaar and now I feel really relieved that it would financially cover my shop in such circumstances.
4.3 October 03, 2022
Faster Claim Settlement
A part of my warehouse having thousands of material caught fire. Luckily I had a fire insurance policy that I could claim and received compensation from them. It was such a relief. The claim settlement team at Policybazaar is helpful and really quick.
4.5 October 02, 2022
I have a warehouse of clothes and was planning to buy a fire insurance policy to cover my material from unwanted fire. Got a really affordable plan from Policybazaar with some really great features.
4.5 October 01, 2022
Budget Friendly
Wanted to cover my crockery shop from fire and was searching for an affordable plan. Found a great plan at Policybazaar which suited my budget.
4.5 September 30, 2022
Instant Purchase
Wanted a fire insurance policy for my crockery business and could purchase it instantly from Policybazaar. The process was quick instant and very easy.