Insurance is protection against the worst-case scenario. People normally purchase a health insurance policy or a life insurance policy. Similarly, an insurance is also needed to protect your business assets like buildings, plant and machinery or inventory stocks stored in warehouses or godowns.The importance of a factory and warehouse insurance policy cannot be overstated since a factory owner invests crores of rupees in factory. A Factory and Warehouse insurance Policy will secure the factory building, plant & machinery and warehouse inventory stocks against losses due to fire, natural calamities like earthquakes, storms, floods and terrorism.
A comprehensive Factory & Warehouse insurance policy will give peace of mind to the factory owner that he is well secured in case something goes wrong.
Responding to a query, Qian Insurance Broking LLP's spokesperson commented, “We are one of the top 10 insurance brokers in India, and we were able to achieve this position due to our focus on customer’s needs and our capacity to offer customised solutions tailored to their needs.
Our mission is to offer comprehensive, unbiased, and quality insurance solutions to our customers ensuring their risk exposures are adequately covered. Companies wanting to protect their factory assets and warehouse stocks can buy a factory and warehouse insurance policy from Qian.!”
Different types of manufacturing businesses face different types of risks. Firms storing hazardous and inflammable stocks in their factory might need a spontaneous combustion clause in their factory insurance policy while stocks requiring refrigeration (for eg: groceries) might require attachment of Deterioration of Stocks in Cold Storage Premises due to change in temperature by damage To Cold Storage Machinery Clause.
An experienced insurance broker will know which clauses are required to be attached to various types of businesses. Therefore, it is very necessary to go for an expert insurance broker rather than the one offering the lowest premiums when purchasing a Factory Insurance Policy.
An experienced broker will also know different ways of reducing factory insurance costs and warehouse insurance costs and will assist you in availing the best discounts. Moreover, an experienced insurance broker will be of invaluable help while resolving factory insurance claims as well.
A Factory and Warehouse Insurance Policy can be further extended to cover business interruption due to Insured Perils. This policy is known as Fire Loss of Profit Insurance and will pay for loss of gross profit suffered during the interruption period when the factory was damaged by the fire or other perils. This Policy will help cover fixed charges like Employee Salaries, Interest Payments, electricity charges etc.
About Qian Insurance Broking LLP:
Qian Insurance Broking LLP is a leading and trusted insurance broking firm based in India. They provide the best fire insurance for factory policies for businesses across different industries.