Key Benefits

1

All Risks cover for all standard cases

2

Increased coverage with lower rates for selected benefits

3

Free Rental Expenses

4

Include more headcount for Work Injury Compensation

5

Include more trades

SMECare Key Benefits

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Description of Benefits

Standard Plan Sum Insured

Top-up Rates

Maximum Limit
Section 1 - All Risks1
Description of Benefits

Standard Plan Sum Insured

Top-up Rates

Maximum Limit

All Risks1
Excess: S$500 each and every loss 

Sub-limit

  • Plate Glass: S$25,000
  • Full-theft: maximum 20% of the sum insured or S$100,000, whichever is lower

S$100,000

S$21.40 for every S$10,000

S$3,000,000

Section 2 - Consequential Loss
Description of Benefits

Standard Plan Sum Insured

Top-up Rates

Maximum Limit

Consequential Loss
Excess: 3 days by order of a public authority

  • Due to insured perils under All Risks

S$250 per day up to 100 days

S$10.70 for every S$50 per day

S$500 per day

  • Cost of material and labour incurred caused by Fire and/or Extraneous Perils
S$1,000 N.A. N.A.
Section 3 - Rental Expenses
Description of Benefits

Standard Plan Sum Insured

Top Up Rates

Maximum Limit
Rental Expenses S$200 per day up to 100 days N.A. N.A.
Section 4 - Money Insurance
Description of Benefits

Standard Plan Sum Insured

Top Up Rates

Maximum Limit
In transit S$5,000 S$5.35 for every S$500 S$10,000
In premises during business hours S$5,000 S$5.35 for every S$500 S$10,000
In premises after business hours S$5,000 S$5.35 for every S$500 S$10,000
  • Sub limit in locked drawers/cash registers within insured premises

S$1,000

S$5.35 for every S$500

S$2,000

  • Sub-limit in locked drawers/cash registers within registered directors' residences 

S$1,000

N.A.

N.A.

Section 5 - Personal Accident 
Description of Benefits

Standard Plan Sum Insured

Top-up Rates

Maximum Limit
Personal Accident
Not exceeding 70 years of age
S$50,000 or pro-rated if more than one insured person N.A. N.A.
Section 6  - Public Liability and Food & Beverage Extension
Description of Benefits

Standard Plan Sum Insured

Top Up Rates

Maximum Limit
Public Liability
(Any one loss and unlimited any one period)
Excess: S$500 each and every loss
S$500,000 S$80.25 for every S$500,000 S$5,000,000
Food & Beverage Extension
(Any one loss and in the aggregate)
Excess: S$500 each and every loss
S$50,000 S$26.75 for every S$50,000 S$150,000
Section 7 - Goods-in-Transit
Description of Benefits

Standard Plan Sum Insured

Top-up Rates

Maximum Limit
Goods-in-Transit
Excess: S$250 each and every loss
S$5,000 N.A. N.A.
Annual Premium (includes prevailing GST)
Description of Benefits

Standard Plan Sum Insured

Top-up Rates

Maximum Limit
Annual Premium S$513.60    

All Risks/Fire and Extraneous Perils (Buildings only)

  • Premises situated on road level or basement is subject to an excess of S$2,500 each and every loss in respect of flood claims

Optional Coverage

Optional Coverage Sum Insured/Headcount Top-up Rates Maximum Limit
Fire and Extraneous Perils1
Optional Coverage Sum Insured/Headcount Top-up Rates Maximum Limit
Buildings only To be declared S$5.35 for every S$10,000 N.A.
Deterioration of Stock
Optional Coverage Sum Insured/Headcount Top-up Rates Maximum Limit
Any one loss and in the aggregate S$2,000 S$32.10 + S$32.10 per additional S$500 insured S$5,000
Fidelity Guarantee2
Optional Coverage Sum Insured/Headcount Top-up Rates Maximum Limit
Any one loss and in the aggregate S$3,000 S$32.10 + S$10.70 per employee Up to 25 employees
Work Injury Compensation3
Optional Coverage Sum Insured/Headcount Top-up Rates Maximum Limit
Non-manual employees Earning ≤ S$30,000
Earning > S$30,000 up to S$75,000
S$32.10 per employee
S$74.90 per employee
Up to 25 employees
Manual/Drivers/Deliveries Earning ≤ S$50,000 S$214.00 per employee Up to 25 employees
Directors and Officers Liability
Optional Coverage Sum Insured/Headcount Top-up Rates Maximum Limit
Any one claim and in the aggregate
Excess: S$5,000 each and every claim
S$100,000
S$150,000
S$374.50
S$535.00
S$100,000
S$150,000

All Risks/Fire and Extraneous Perils (Buildings only)

  • Premises situated on road level or basement is subject to an excess of S$2,500 each and every loss in respect of flood claims

Fidelity Guarantee

  • This section will need to be taken together with the Work Injury Compensation section
  • Please declare occupation and headcount

Work Injury Compensation

  • Please refer to separate underwriting for annual earnings above the stated amount
  • Please declare occupation, headcount and Actual4 annual wages per Category. Actual4 annual wages consists of salary (including overtime pay), bonuses and allowances excluding transport allowance
  • The company shall not be liable for any claim arising from 2-wheelers/motorcycling (as rider or passenger) unless specifically agreed upon

Actual annual wages per category at the inception of the policy year

Notes

  1. The sum insured on Fire and Extraneous Perils, Fire (Building) and All Risks must represent the following:

  2. Premises occupied as an office or store in an industrial building are accepted by SMECare

  3. Referred trades^ for underwriting:

  4. Excluded trades:

  5. The following types of Premises/Construction are not covered:

  6. Directors and Officers Liability Optional Extension is only available for companies with total assets less than S$10,000,000 and without securities listed on any securities exchange

  7. Policy Owners' Protection Scheme