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| Business : Growing
Business > Business
Insurance - Standard
Insurance Programmes |
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Designed to offer maximum protection
for retailers and wholesalers from as low as S$1.07 a day,
this Retail Package gives you the flexibility to increase
your coverage.
Choose the protection you want and opt for either the Standard
or Flexi Plan. Plus,
if there are no claims, a 10% loyalty discount will be given
on the second year, which will be increased to 20% for renewals
in subsequent years.
Standard
Plan
For just S$390 per annum,
the Standard Plan includes:
| Section |
Coverage |
Interest |
Sum
Insured |
| 1. |
Fire |
Covers loss/damage caused
by fire and extraneous perils |
Furniture, fixtures, fittings,
stock-in-trade and other content |
S$75,000 (option to increase
to S$500,000) |
| 2. |
Business
Interruption |
Covers
total interruption to business resulting from damage
caused by fire and extraneous perils |
Loss
of profits/increased costs of working |
S$200
per day up to 100 days |
| 3. |
Burglary |
Covers loss/damage due
to break-in |
Furniture, fixtures, fittings,
stock-in-trade and other contents |
S$25,000 (option to increase
to S$150,000) |
| 4. |
Plate
Glass |
Covers
breakage of fixed glass |
Plate
glass |
S$2,000 |
| 5. |
Money |
Covers loss of money in
transit and in locked safe/drawer/cash register |
| - |
In transit |
- |
S$5,000 (option to
increase to S$20,000) |
| - |
In premises during
office hours |
- |
S$5,000 (option to
increase to S$20,000) |
| - |
In locked safe after
office hours |
- |
S$5,000 |
| - |
In locked drawer/
cash register after office hours |
- |
S$1,000 |
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| 6. |
Personal
Accident |
Covers
accidental bodily injury resulting in death/disablement |
On lives
of registered proprietor/ partners/directors - up to
2 persons |
S$30,000
each |
| 7. |
Workmen's Compensation |
Covers employers' legal
liabilities for death and bodily injury to employees
under Workmen's Compensation Act and/or under Common
Law |
Up to 4 employees |
As per Workmen's Compensation
Act (option to increase to 8 employees) |
| 8. |
Public
Liability |
Covers
legal liabilities for property damage/ bodily injury
to third parties in connection with your business |
Your
business operation |
S$500,000
any one accident Unlimited any one period |
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Annual Premium S$390
(inclusive of GST)
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Flexi Plan
For
just a nominal addition to your annual premium, the Flexi
Plan allows you to top-up your coverage up to the optional
limit. The top-up rates are as follows:
| Section |
Top Up Rate |
| 1. |
Fire |
0.075% x additional coverage
required |
| 3. |
Burglary |
0.20% x additional coverage
required |
| 5. |
Money
- In transit
- In premises |
0.75% x additional coverage required
0.50% x additional coverage required |
| 6. |
Personal Accident |
S$20 per person |
| 7. |
Workmen's Compensation |
S$30 per employee |
Free Extensions
These are some of the free extensions you will enjoy:
| Section 1- Fire |
- Automatic increase of coverage for stock-in-trade
by 20% of sum insured during the 2 weeks prior to
Chinese New Year, Hari Raya Puasa, Deepavali and
Christmas Day
- Cost of removal of debris, up to S$5,000
- Cost of temporary protection, up to S$2,500
- Theft of insured property during or after a fire
at your premises
- Fire brigade charges and fire extinguishing expenses,
up to S$1,000
- Sprinkler leakage
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| Section 3 - Burglary |
- Automatic increase of coverage for stock-in-trade
by 20% of sum insured during the 2 weeks prior to
Chinese New Year, Hari Raya Puasa, Deepavali and
Christmas Day
- Loss or damage to insured property as a result
of armed robbery and/or hold-up at your premises
- Snatch theft
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| Section 4 - Plate
Glass |
- Riot, strike and civil commotion
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| Section 5 - Money |
- Automatic increase in limit any one loss by 50%
subject to a maximum of S$5,000 for 3 days running
consecutively and immediately following Chinese
New Year, Hari Raya Puasa, Deepavali and Christmas
Day
- Personal Accident Benefits for 2 employees at
S$10,000 each
- Damage to locked drawer/safe/cash register due
to theft or attempted theft, up to S$500
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| Section 6 - Personal
Accident |
- Riot, strike and civil commotion, hijack, murder
or assault
- Suffocation by smoke, poisonous fumes, gas or
drowning
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| Section 7 - Workmen's
Compensation |
- Personal injury by accident sustained by your
employees during meal breaks
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| Section 8 - Public
Liability |
- Legal liability arising from advertising/ neon
signs owned by you, up to S$100,000
- Food and drink served by you, up to S$100,000
- Your legal liability as tenant
- Director(s) or non-manual executive(s) on overseas
business trip (excluding USA and Canada)
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Excluded Trades/Premises:
Jewellery, gems, precious stones/metals, curios and fur, antique
and works of art, stamps and coins, art gallaries, watches,
telecommunication equipments, cameras, alcohol, tobacco, joss
sticks, paint, paper, rubber, mattresses/beddings, foam, plastic,
timber, charcoal, scrap metal, computer components, motor
showrooms, repair workshops, petrol station/kiosks, premises
not of concrete/brick/tile construction or property kept in
the open, risks involving work offsite and risks not situated
in Singapore.
General Exclusions
This policy does not cover loss or damage resulting from:
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- War, kindred risks and nuclear radiation
- Consequential loss of any kind or description including
penalties or loss of contract
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| NB: |
Information above is not a contract of
insurance. Please refer to the policy (which will be
issued to you upon acceptance of your application and
payment of the premium) for full details of cover. |
| This plan is underwritten by: |
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For more information, call 1800-MAYBANK (1800-629 2265)
or (65) 6533 5229 (Overseas) or make
an appointment with our
Retail Finance Executives. |
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First
50 applicants will be entitled to an umbrella, upon
successful policy issuance |
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