Why Every Small Business Needs Property Insurance: Lessons from Recent Losses
Hello friends, I’m Abad Khan, and I’ve been part of the insurance industry for over 20 years, holding a postgraduate diploma in insurance (F.I.I.I.). My experience spans all kinds of insurance claims—fire, motor, burglary, marine—and I’ve seen firsthand the consequences of being uninsured.
The Real Risk of “Leave It to Luck”
Many business owners—especially small businesses—still run factories, shops, hotels, restaurants, schools and other ventures without any insurance backup. They rely on luck, but luck is no strategy. When disaster strikes, the cost can be devastating.
Consider the Delhi Riots, which resulted in estimated property losses of ₹25,000 Crores. Small business owners were hit hardest; shops, homes, and schools were destroyed. For many, starting over is now impossible. This tragedy highlights that unforeseen events can happen to anyone, anywhere.
Property Insurance: Affordable and Essential
Property insurance is not expensive. For example:
- A garment showroom valued at ₹1 Crore can be insured for just ₹11,400.
- A hotel, school, or restaurant worth ₹1 Crore can be insured for about ₹5,000.
- Household items of the same value only require about ₹2,650 in annual premium.
Standard Fire and Special Perils Policy covers 14 major risks:
- Fire, Lightning, Explosion/Implosion
- Aircraft Damage, Riots, Strikes, Malicious Damage (RSMD)
- Storm, Tempest, Flood, Hurricane, Cyclone, Typhoon, Tornado (STFI)
- Impact from vehicles/animals, Subsidence, Landslide
- Bursting water tanks, Sprinkler leakage
- Missile testing, Bush Fire, Pollution, Earthquake
For added security, you can also take a burglary policy—covering theft by forced entry—at a nominal cost.
Every Business Needs a Backup Plan
No matter your industry, safeguarding your premises and assets with insurance is vital. Don’t wait for misfortune to teach this lesson—protect your investment in advance.
If you ever face trouble with a claim, or need guidance on any insurance matter, our company will help you free of charge. We offer comprehensive general, health, and life insurance services pan-India.
Contact us today or watch my detailed video to understand why property insurance is a must for every business!
Abad Khan, F.I.I.I.
AK Insurance Marketing Pvt. Ltd.
A-918, ATS Bouquet, Sector-132, Noida-201303
Email: abad@bimasathi.in
Phone: +91 99996 82324, 0120-4360776
