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Burglary Insurance

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Burglary Insurance

This policy provides cover for property contained in business premises, stocks owned by you or held in trust and/or commission. It can be further extended to cover cash, valuables, securities kept in a locked

safe or cash box in locked steel cupboard.

The policy provides cover for the following occurrences;

  1. Loss or damage to insured property due to burglary and/or housebreaking.
  2. Damage to premises caused by burglars during burglary or attempts at burglary. The policy pays actual loss /damage to the insured property caused by burglary/house breaking subject to limit of sum insured.

If the sum insured is not adequate, the policy pays only proportional loss. There is also a provision in the policy to cover bulk items on first loss basis, wherein a percentage of total stock stored can be taken as that exposed to the risk of burglary and housebreaking. The premium is charged in this percentage selected only. A nominal premium is charged on the balance stock. The policy can be extended to cover riot, strike, malicious damage and theft. Further, policies can be used on declaration basis and on floater basis for stocks.