Factory Insurance is a valuable benefit in an industrial set up used for manufacturing and storage of goods. It considers any financial loss due to damage of goods, building or machinery in and outside premises. When you are looking for suitable insurance for your factory you may want to consider if your factory is adequately insured so that your business is able to resume from where it left off before the accident.
The coverage may vary based on the type of the policy bought:
? Comprehensive Cover: Includes all types of covers available for Factory & Warehouse premises.
? Valued Policy: Issued for materials for which market value cannot be ascertained.
? Floating Policy: Issued when same property frequently changes location.
? Replacement & Reinstatement Policy: Pays cost of replacement or reinstatement of the insured asset
? Specific Policy: Provides cover only up to a specific amount, usually less than the property value.