Insurance can feel complicated — but it doesn’t have to be. We’ve put together answers to the questions we hear most often, across our corporate, retail, and financial services. If you don’t find what you’re looking for, our team is always happy to help.
A fire insurance policy covers physical damage to your property and assets caused by fire, lightning, explosions, and a range of allied perils — including natural disasters, aircraft impact, and sprinkler leakage. It protects your building, machinery, stock, and other business assets from losses that would otherwise be financially devastating.
While it’s not mandated by law in all cases, most lenders and financial institutions require fire insurance as a condition for property loans. Beyond compliance, it’s simply good risk management. If your premises house significant assets, stock, or machinery, going uninsured is a risk most businesses can’t afford.
Yes. Standard fire policies can be extended to include add-ons such as flood, storm, earthquake, terrorism, and loss of profit cover. We assess your specific risk exposure and recommend the right extensions so there are no gaps when a claim arises.
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Marine transit insurance covers physical loss or damage to goods while they’re in transit — whether by sea, air, road, or rail. It protects importers, exporters, and traders against risks like theft, damage during loading and unloading, and loss at sea.
Not necessarily — but you should know who bears the risk and at what point it transfers. In many trade contracts, the liability for loss shifts at a specific stage of transit. We help businesses understand these terms and ensure there are no windows where goods are uninsured.
It depends on how frequently you ship. If your business moves goods regularly, an open or annual policy is more cost-efficient and administratively simpler. For occasional shipments, a voyage-specific policy works well. We’ll recommend the right structure based on your shipping volume.
Machinery breakdown insurance covers sudden and unforeseen physical damage to machinery and equipment due to mechanical or electrical failure — things like short circuits, operator error, and material defects. It covers repair or replacement costs that standard fire policies typically don’t.
No. Machinery breakdown insurance is designed for sudden, accidental failures — not gradual deterioration or predictable maintenance issues. It complements, rather than replaces, a good maintenance programme.
Yes, and we often recommend this combination. If a key machine breaks down and halts production, the financial impact goes beyond repair costs. A loss of profit extension covers the revenue you lose during the downtime, which is often the bigger concern for manufacturers.
A Group Personal Accident policy provides financial protection to employees in the event of accidental death, permanent disability, or temporary disability due to an accident. It’s typically taken by an employer to cover their workforce collectively, offering benefits to employees and their families when it matters most.
Yes, most Group Personal Accident policies provide 24-hour worldwide coverage — not just during work. The scope can vary based on the policy terms, and we ensure your policy is structured to give employees comprehensive protection at all times.
Sum insured is usually calculated as a multiple of the employee’s annual salary — commonly 3x to 5x. The right multiple depends on your industry, employee profile, and what level of support you want to extend. We guide businesses through this based on their workforce composition.
A Shopkeeper’s Policy is a comprehensive package designed for retail business owners. It covers your shop premises, stock, furniture, fixtures, and fittings against risks like fire, burglary, natural calamities, and public liability. It’s ideal for any retail outlet — from a neighbourhood store to a multi-brand showroom.
Yes. Burglary and theft cover is a core component of a Shopkeeper’s Policy, protecting your stock and cash in the event of a break-in. Policy limits and specific conditions apply, and we make sure these are structured appropriately for your inventory value.
Absolutely. You can extend the base policy to cover electronic equipment, plate glass, neon signs, personal accident for the owner, and money in transit. We review what your shop actually needs and avoid loading the policy with covers that don’t apply to your situation.
Keyman Insurance is taken by a business on the life of an employee whose skills, knowledge, or relationships are critical to the company’s operations. If that person passes away or becomes permanently disabled, the policy pays out to the business — helping it manage the financial disruption, fund a replacement, or settle outstanding liabilities.
A keyman is typically someone whose absence would significantly impact the business — founders, senior executives, top sales performers, or individuals with specialist expertise that’s difficult to replace. There’s no fixed definition; it’s assessed based on actual contribution and business dependence.
An Employer-Employee scheme is a structured arrangement where a business pays premiums for life insurance policies taken on its employees. It serves as a retention and benefits tool, with tax advantages for both the employer and employee. We help businesses design schemes that are financially efficient and compliant.
Contractor All Risk insurance covers construction projects against physical loss or damage to the works under construction, plant, machinery, and equipment on site. It also includes third-party liability cover for injury or property damage to others arising from the construction activity.
Many project owners, government bodies, and financiers require it before work begins. Even where it’s not mandated, construction sites carry inherent risks — equipment damage, collapse, theft, fire, flooding — that make CAR insurance essential for any contractor who wants to protect their project and business.
A standard CAR policy covers damage during the construction period and usually includes a maintenance period — typically 12 months after completion — for rectifying defects that appear as a result of faulty workmanship. It does not cover inherent design defects, which require separate professional indemnity coverage.
Erection All Risk insurance is specifically designed for the installation and commissioning of plant, machinery, and industrial equipment. It covers physical damage to the equipment being erected, as well as third-party liability during the erection process. It’s the go-to policy for engineering projects and industrial installations.
CAR is primarily for civil construction — buildings, roads, bridges. EAR is for mechanical and electrical installations — boilers, turbines, manufacturing plant, industrial equipment. If your project involves erecting or commissioning machinery rather than constructing a building, EAR is the appropriate policy.
Group Health Insurance covers employees and their dependants for hospitalisation expenses — room rent, surgery, pre and post-hospitalisation costs, ICU charges, and more. It typically includes a cashless facility at network hospitals, making claims far less stressful for employees when they actually need care.
Yes. Most group health policies allow graded sum insured structures — senior employees can be offered higher cover than entry-level staff. Maternity benefits, OPD cover, dental, and wellness benefits can be added selectively. We help businesses design these structures to balance employee expectations with premium budgets.
Group health coverage ceases when employment ends. However, most insurers offer a portability option, allowing the departing employee to convert to an individual policy without a fresh waiting period. We advise employees on this option during offboarding to ensure continuity of coverage.
Workmen Compensation Insurance covers an employer’s legal liability to pay compensation to employees who suffer injury, illness, or death arising out of and in the course of employment. Under the Employees’ Compensation Act, 1923, employers are legally obligated to compensate affected workers. This policy fulfils that liability.
The policy covers employees engaged in manual or physical work, including permanent, contractual, and casual workers listed in the schedule of the Act. Coverage can be extended to clerical staff and other employees depending on the policy structure.
If your business engages contractors, their workers may not be covered under your standard WC policy. A Principal’s Liability extension addresses this — covering claims made against you as the principal employer for injuries to contract labour working on your premises.
Group Travel Insurance covers employees travelling on official business against medical emergencies abroad, trip cancellation, loss of baggage, passport loss, flight delays, and personal accident. It can cover individual trips or be structured as an annual blanket policy for frequent business travellers.
Coverage for pre-existing conditions varies by policy and insurer. Some policies exclude them entirely; others cover emergency stabilisation related to a pre-existing condition. We review these clauses carefully and recommend policies that offer the most practical protection for your travelling employees.
D&O insurance protects company directors and senior officers against personal liability for decisions made in their professional capacity. If a director is sued by shareholders, creditors, regulators, or employees for alleged wrongful acts in managing the company, D&O covers the legal costs and any resulting settlements.
D&O is not just for listed companies. Private firms face claims from investors, lenders, and employees just as readily. As regulatory scrutiny increases — especially in areas like GST compliance, data protection, and employment law — even well-run businesses benefit from the protection D&O provides to those making decisions at the top.
No. D&O insurance covers civil liability for wrongful acts — errors in judgment, mismanagement, breach of duty, or misleading statements. It does not cover fraud, criminal conduct, or wilful misconduct. Policies also exclude known claims that predate the policy.
CGL insurance protects your business against third-party claims for bodily injury and property damage arising from your business operations, products, or completed work. If a customer slips on your premises, a product you supplied causes harm, or your operations damage a neighbour’s property, CGL covers the legal costs and compensation.
Yes. Any business that interacts with customers, operates from a physical premises, or supplies goods and services carries third-party exposure. A single liability claim can be financially significant for a small business. CGL is one of the most fundamental policies any business should hold.
A Stock Indemnity Policy covers loss or damage to stock held at your premises against risks like fire, flood, burglary, and allied perils. It’s designed for traders, wholesalers, and manufacturers who need specific protection for their inventory separate from a general property policy.
Stock values are typically declared at the start of the policy period. Given that inventory levels fluctuate, a floating or declaration policy — where the sum insured adjusts based on monthly stock declarations — is often more accurate and cost-effective. We help businesses choose the right structure to avoid both underinsurance and premium wastage.
A Jeweller’s Block policy is a comprehensive all-risk cover designed for jewellers and gem dealers. It protects jewellery, watches, and precious stones against theft, burglary, hold-up, accidental damage, and transit risks — both at your shop premises and while goods are in transit or at exhibitions.
Coverage for display cases and windows is typically included, but specific conditions around security measures, window locks, and overnight storage apply. We review these requirements with jewellers to ensure their security setup qualifies for the cover they need.
Cybercrime insurance covers financial losses arising from cyber incidents — including hacking, phishing attacks, data breaches, ransomware, online fraud, and social engineering. It typically covers investigation costs, restoration of data, business interruption losses, and third-party liability for customer data that’s been compromised.
Not at all. Any business that holds customer data, processes payments online, or relies on digital systems for operations is exposed to cybercrime risk. Small and medium businesses are often targeted precisely because their security infrastructure is less robust. The financial and reputational damage from a breach can be severe at any scale.
Notify your insurer promptly — most policies have strict timelines for reporting. Don’t attempt to restore systems without first preserving evidence, as this can affect your claim. Your policy typically covers forensic investigation and crisis management support, which should be activated as early as possible.
Third-party insurance is legally mandatory and covers your liability to others if your vehicle causes injury or property damage. Comprehensive insurance also covers damage to your own vehicle — from accidents, theft, fire, and natural calamities. For any vehicle of meaningful value, comprehensive cover is the practical choice.
Yes. Fleet policies allow businesses to cover multiple vehicles under a single arrangement, typically at more competitive rates. Fleet policies also simplify renewals and claims management. We structure fleet covers for companies ranging from a handful of vehicles to large commercial fleets.
Group Term Life Insurance provides a lump-sum death benefit to an employee’s family if the employee passes away during the period of employment. It’s offered by employers as a core employee benefit and serves as a financial safety net for the families of those who depend on a salary.
Yes. Many group term schemes offer a voluntary top-up option, allowing employees to purchase additional cover for themselves and their dependants at group rates — which are significantly lower than individual policy premiums. This is a valuable benefit that employees often underutilise.
A good starting point is considering the cost of a mid-level hospitalisation in your city — room rent, surgeon fees, diagnostics, and post-discharge care. In metro cities, a minimum of Rs. 5 to 10 lakhs is advisable for individuals; for families, Rs. 10 to 25 lakhs depending on age and health profile. We help clients assess this honestly rather than defaulting to the lowest premium option.
A waiting period is the time you must hold a policy before certain conditions are covered. Most policies have a 30-day initial waiting period, a 2-year wait for specific illnesses, and a 4-year wait for pre-existing conditions. Buying health insurance early in life — before health issues arise — is the most effective way to manage these waiting periods.
Cashless claims are settled directly between the insurer and the hospital — you pay nothing upfront at a network hospital. Reimbursement claims apply when you’re treated at a non-network hospital — you pay the bills first and then submit them for reimbursement. Cashless is simpler and faster, which is why network hospital selection matters when buying a policy.
For cars up to 5 years old, zero-depreciation cover is worth serious consideration. Without it, your claim settlement accounts for depreciation on parts replaced — which means you receive less than the actual repair cost. With zero-dep, the insurer pays the full cost of replacement parts. The premium difference is modest relative to the benefit.
Ensure everyone’s safety first. Then document the scene — photographs of the damage, the other vehicle, and any injuries. Collect the other party’s details. Notify your insurer promptly, as delays in reporting can complicate claims. If it’s a major accident, file a police FIR before approaching the insurer.
Yes. Your No Claim Bonus (NCB) is linked to you as the policyholder, not to the insurer. When you renew with a new insurer, your accumulated NCB carries over — provided there’s no break in coverage. NCB can reduce your own-damage premium by up to 50% over five claim-free years.
For Schengen visa countries, travel insurance is a mandatory requirement. For most other destinations, it’s not legally required — but it’s a serious risk to travel without it. Emergency medical expenses abroad, especially in the US, UK, or Europe, can run into lakhs of rupees. Travel insurance costs far less than the risk it covers.
Trip curtailment cover reimburses the unused portion of your prepaid trip costs and additional travel expenses if you have to return home early due to a covered emergency — such as the hospitalisation or death of an immediate family member. This is a standard feature in most comprehensive travel policies.
Standard travel policies exclude high-risk activities like skydiving, scuba diving beyond recreational depths, mountaineering, and motor racing. If your trip includes any adventure activities, you’ll need a specific add-on or a specialist travel policy that covers them. We help travellers get coverage that actually matches their itinerary.
A Marine Single Transit policy covers goods for a single, specific consignment — from the point of origin to the final destination. It’s ideal for individuals or businesses that move goods occasionally and don’t need an ongoing open policy. The cover can apply to road, rail, air, or sea shipments.
Yes. The declared value forms the basis of your sum insured and determines the claim settlement in the event of loss. Undervaluing goods to save on premium is a common mistake that leads to painful shortfalls at claims time. We always recommend declaring the full invoice value plus freight and incidental costs.
Personal cyber insurance covers individuals against financial losses from online fraud, identity theft, phishing, social media account hacking, email spoofing, and cyberstalking. It covers financial losses, legal expenses, and the cost of restoring your digital identity after a breach.
Banks have processes for reporting fraud, but refunds are not guaranteed and are often subject to timelines, conditions, and dispute resolution delays. Cyber insurance covers losses where bank refunds aren’t forthcoming, as well as other cyber risks banks don’t cover at all — like identity theft and data recovery costs.
A term plan is the purest form of life insurance. You pay premiums for a defined period, and if you pass away during that term, your family receives the sum assured. There’s no maturity benefit or investment component — which is exactly why the premiums are low and the coverage can be very high. It’s the most cost-effective way to financially protect your family.
A common starting benchmark is 10 to 15 times your annual income, but the right figure depends on your liabilities, dependants, and financial goals. A 35-year-old with a home loan, young children, and working spouse needs a very different coverage level than a single professional with no dependants. We help clients arrive at a realistic figure rather than an arbitrary one.
If financial protection for your family is the primary goal, a term plan delivers significantly higher coverage at a fraction of the premium. Endowment plans combine insurance with savings but offer lower returns than dedicated investment options. Most financial planners recommend separating insurance and investment — and a term plan does exactly that.
Yes, they cover different risks. Health insurance covers illness and hospitalisation costs. Personal Accident insurance specifically covers accidental death, permanent disability, and temporary disability. A good financial plan includes both — they complement each other rather than overlap.
If an accident leaves you temporarily unable to work, your salary stops but your EMIs and household expenses don’t. A Personal Accident policy provides a weekly or lump-sum benefit during recovery, compensating for lost income. For permanent disability, it provides a capital sum that can fund long-term rehabilitation and financial stability.
An endowment plan combines life insurance with a savings or investment component. If the policyholder survives the policy term, they receive a maturity benefit. If they pass away during the term, the family receives the sum assured. It suits individuals who want a disciplined savings vehicle with insurance built in — particularly for goals like a child’s education or retirement planning.
Most endowment plans are participating policies, which means they’re eligible to receive bonuses declared by the insurer based on the company’s profits. These bonuses — simple reversionary or compound — accumulate over the policy term and significantly enhance the maturity value. The final amount is known only at maturity, as bonuses aren’t guaranteed at the time of purchase.
Yes. Your No Claim Bonus (NCB) is linked to you as the policyholder, not to the insurer. When you renew with a new insurer, your accumulated NCB carries over — provided there’s no break in coverage. NCB can reduce your own-damage premium by up to 50% over five claim-free years.
A mutual fund pools money from multiple investors and invests it across a diversified portfolio of stocks, bonds, or other securities — managed by a professional fund manager. Returns are generated based on the performance of the underlying investments. It’s one of the most accessible ways for individuals to participate in financial markets without needing to manage investments directly.
In a direct plan, you invest directly with the fund house without a distributor — lower expense ratio, slightly higher returns over time. In a regular plan, a distributor is involved and earns a commission, which is reflected in the expense ratio. The choice depends on whether you prefer to manage investments yourself or want advisory support through the process.
A Systematic Investment Plan (SIP) is the most practical starting point. You invest a fixed amount every month regardless of market conditions — which builds discipline, reduces timing risk, and benefits from rupee cost averaging over time. Starting with a diversified equity fund or a balanced advantage fund is a sensible approach for most first-time investors.
Mutual funds carry market risk — returns are not guaranteed. However, they’re regulated by SEBI and managed by professional fund managers with clear investment mandates. The risk level varies by fund category: liquid funds and debt funds carry lower risk; equity funds carry higher short-term volatility but have historically delivered better long-term returns. Matching the right fund to your risk profile and time horizon is what matters most.
Direct equity investment means buying shares of individual companies listed on the stock exchange. As a shareholder, you own a proportionate stake in the business and benefit from capital appreciation and dividends. It offers potentially higher returns than mutual funds but requires active monitoring and a higher tolerance for short-term volatility.
With equity mutual funds, a professional fund manager selects and manages a portfolio on your behalf. With direct equity, you choose the stocks yourself — which gives you full control but also full responsibility for research, portfolio construction, and rebalancing. Direct equity suits investors with market knowledge, time to track positions, and comfort with concentrated exposure.
The primary risks are market risk, company-specific risk, and liquidity risk in smaller stocks. Concentration — putting too much into too few stocks — amplifies these risks significantly. We work with clients to build diversified equity portfolios that balance return potential with sensible risk management across sectors and market caps.
Fixed income investments are financial instruments that provide regular, predictable returns — such as bonds, debentures, fixed deposits, government securities, and debt mutual funds. They’re designed to preserve capital and generate steady income, making them suitable for conservative investors or as a stabilising component in a diversified portfolio.
Bank FDs are simple, familiar, and carry sovereign-level safety for deposits up to Rs. 5 lakhs per bank (under DICGC). Corporate bonds and NCDs typically offer higher interest rates but carry credit risk — the risk that the issuer may default. Debt mutual funds offer diversification across multiple issuers and better tax efficiency for holding periods above three years.
This is a real consideration. If inflation outpaces your fixed income returns, the purchasing power of your money erodes even if the nominal return is positive. During inflationary periods, inflation-linked bonds, floating rate instruments, and shorter-duration debt products tend to perform better. We help clients position their fixed income allocation appropriately based on the interest rate environment.
When you go directly to an insurer, you’re receiving advice from someone whose primary objective is to sell that insurer’s products. At Beyond Insurance, we’re independent consultants. We assess your needs first, then recommend the most suitable products from across the market — whichever insurer fits your risk profile and budget best. Our loyalty is to you, not to any insurance company.
We’re with you through the entire journey — including and especially at claims time. We believe a consultancy’s real value shows up when things go wrong, not just when policies are sold. Our team supports clients through the documentation process, follow-ups with insurers, and resolution — so you’re not navigating the process alone.
At minimum, annually — at renewal time. But significant life or business changes should trigger an immediate review: acquiring new assets, expanding operations, taking on new employees, a major revenue shift, or a change in your personal circumstances. Insurance programmes that aren’t updated to reflect your current situation are almost always carrying gaps.
Absolutely. Many clients come to us with existing coverage that was either purchased without a full risk assessment or hasn’t been updated in years. We audit your current portfolio, identify gaps and redundancies, and restructure it where needed. In many cases, we’re able to improve coverage while reducing the overall premium spend.
No. Our first conversation is always about understanding your situation — whether you’re a business reviewing your risk exposure or an individual looking for independent advice. The recommendations and a plan come after we understand you properly. Get in touch with our team to get started.
