Claim Assistance
Get In Touch
Bharat Laghu Udyam Suraksha Commercial Package Policy
Dec 4, 2023

Everything You Need To Know About The Bharat Laghu Udyam Suraksha Commercial Package Policy

In India, small and medium-sized enterprises (SMEs) play a crucial role in driving economic growth and providing employment opportunities. To support and protect these vital contributors to the nation's development, the Indian government has introduced various policies and initiatives. One such initiative is the "Bharat Laghu Udyam Suraksha Commercial Package Policy," which aims to provide comprehensive insurance coverage to small and micro enterprises. Let’s delve into the details of this policy and its significance for Indian businesses.

Understanding Bharat Laghu Udyam Suraksha Commercial Package Policy

The Bharat Laghu Udyam Suraksha Commercial Package Policy, commonly known as the "Laghu Udyam Suraksha Policy," is a specialized insurance policy designed to cater to the unique needs of small and micro enterprises in India. Launched under the aegis of the Micro, Small, and Medium Enterprises (MSME) sector, this MSME insurance policy is a step toward ensuring the financial security and growth of these enterprises.

Key Features Of The Policy

The following are the key features of the Bharat Laghu Udyam Suraksha Commercial Package Policy#:
  • Comprehensive Coverage

The policy offers a wide range of coverage, including protection against various risks, such as fire, burglary, theft, machinery breakdown, electronic equipment damage, and more. It is tailored to address the specific risks small and micro enterprises may face. Claims are subject to terms and conditions set forth under commercial insurance policy.*
  • Third-Party Liability Coverage

Small businesses get third-party liability coverage, which protects them from financial liability arising from accidents or incidents involving third parties on their premises. Claims are subject to terms and conditions set forth under commercial insurance policy.*
  • Security For Documents

Documents kept in the premises, such as deeds, transaction registers, stock papers, and any other documents vital for your business, are covered by the policy. Claims are subject to terms and conditions set forth under commercial insurance policy.*
  • Debris Removal

If debris is present either due to damage or due to repair work, the removal of debris is covered. The coverage amount is up to 2% of the claim amount. Claims are subject to terms and conditions set forth under commercial insurance policy.*

Significance for Small and Micro Enterprises

The Laghu Udyam Suraksha Policy holds great significance for small and micro enterprises in India. Here are some key reasons why this policy is essential for these businesses:
  • Risk Mitigation

Small enterprises often operate on limited budgets and may not have the financial cushion to recover from unexpected losses. This policy acts as a safety net, allowing them to mitigate risks effectively.
  • Business Continuity

Insurance coverage can ensure that businesses can quickly recover and resume operations after a setback, minimizing downtime and revenue loss.
  • Peace of Mind

With comprehensive insurance in place, small business owners can focus on their core activities, knowing they have financial protection against unforeseen events.
  • Access to Credit

While not mandatory but having the coverage of this general insurance may help create a good image of your business if you were to apply for a business loan or increase the credit amount of your existing one. The policy might help in enhancing your enterprise's creditworthiness.

How To File A Claim

In the event of your business getting damaged due to any unfortunate circumstance, you are required to file a claim to get compensation for the same. These are the steps to file a claim on your policy:
  • Inform The Insurer

The first step is to inform your insurer about the incident which has taken place. This formally initiates the claim process.
  • Inform The Authorities

Depending on the cause of the damage, you are required to inform the appropriate authorities. For example, if there was a break-in at the premises of your business by burglars, you need to the inform the police about it. If the damage was caused due to fire, you need to inform the fire authorities about it.
  • Clear Dangerous Items

After the incident, if there any items on the premises which may cause further damage, it is important to remove them immediately. One should be careful about the presence of fuel, paper, or any damaged electronic equipment which may cause additional damage.
  • Document The Damage

Take photos and videos of the damage caused, as your insurer may require it to verify your claim.
  • Co-operate With The Insurer

The insurer might send a team of surveyors to inspect the damages and may ask for additional information related to your business to properly verify your claim in a timely manner. After inspection and claim verification, if all the requirements are met, the insurer will process your claim and pay the compensation amount to you. Claims are subject to terms and conditions set forth under shopkeer insurance policy.


The Bharat Laghu Udyam Suraksha Commercial Package Policy is a crucial instrument for the protection and growth of small and micro enterprises in India. By providing affordable and comprehensive insurance coverage, it helps these businesses thrive in a competitive marketplace while ensuring their financial security in the face of unexpected challenges. With the coverage of this policy, you may not need to purchase any additional policy for your business, such as a fire insurance policy.   *Standard T&C Apply #Visit The Official Website Of IRDAI For Further Details Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

Was this article helpful? Rate it

Average rating 5 / 5. Vote count: 18

No votes so far! Be the first to rate this post.

Like this article? Share it with your friends!

Share Your Thoughts. Leave a Comment Below!

Leave a Reply

Your email address will not be published. All fields are required