D.V.L Padma Priya

There were only a few takers for shop insurance till recently

We feel ‘secure’ after knowing that our shops are insured, say traders

HYDERABAD: The recent spate of attacks as part of the Telangana agitation on malls and shops has kept the shop owners and businessmen on tenterhooks. With big malls and shops becoming the first targets of any sort of agitations, owners of both small and big businessmen are being forced to rethink on their business’s insurance coverage.

LIC agent B. Ramakrishnaiah has had many shop owners and small businessmen enquiring about general insurance coverage. “The general awareness about insurance coverage for businesses is low among shopkeepers and small businessmen. But since this Telangana issue has cropped up, I have had many of my clients and others enquiring about insurance coverage and a few have also taken them,” he says. Shankar Rao, owner of Vellanki Sweet Shop in Ameerpet says, he never “felt the need to take insurance” for his sweet shop till the Telangana issue erupted. “After this issue I felt that it is better I protect my shop against any problems. We never know what may happen when and so I felt I should be on the safe side,” he says. Insurance agent Vijay Kumar says, compared to shop owners and tradesmen in other districts, those in Hyderabad have little knowledge about insurance.

Fear that businesses being run by those hailing from other regions would be attacked, has also fuelled the need to know and take insurance coverage. “So far, the attacks seem random but I am worried this won’t be the case later on. I have taken insurance for my shop and will also be taking one for my house too,” says Mr. Suresh Naidu, who owns garment store in Kukatpally adding that he feels ‘secure’ knowing that his shop is insured.