Insurance policies that a large departmental shop owner may take are:
(i) Motor vehicle insurance:- To avoid careless driving, protect road users, accident, damage, loss etc of motor vehicles. It could be third party or comprehensive policy.
(ii) Fire insurance:- To cover risk associated with fire outbreak that may damage building, factories, shops, stocks, machines etc.
(iii) Fidelity guarantee insurance:- To guard against possible loss of money through embezzlement or misappropriation of funds by their fraudulent employees in positions of trust
(iv) Burglary, theft and robbery insurance:- To cover against possible loss resulting from breaking and entering of shops, dwelling houses, theft or larceny etc. by thieves or robbers
(v) Accident insurance:- To cover personal accident, sickness, employers liability, accident to properties, etc.
(vi) Consequential loss insurance:- To cover loss of revenue or profit
(vii) Bad debt insurance:- To guarantee, to protect the firm or owner against bad debts
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