Burglary Insurance
Coverage
The policy covers loss or damage caused by Burglary following upon an actual forcible and violent entry of and / or exit from the premises
Burglary Insurance policy covers property contained in business premises like furniture, fixtures, fittings, office equipment, electronic equipment, stocks owned, or for which insured is responsible or held in trust and/or commission. It can also cover cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard if specifically mentioned.
The policy covers loss or damage caused by Burglary and Theft following upon an actual forcible and violent entry of and / or exit from the premises and Robbery. It also covers damage to your premises caused by burglars during burglary or attempts at burglary.
The Policy pays actual loss/damage to your insured property caused by burglary subject to the limit of Sum Insured. If Sum Insured is not adequate, Policy pays only proportionate 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 on this percentage selected only. Policies can be issued on declaration basis and on floater basis for stocks
Extensions3
- Loss of the insured property to cover burglary as a result of riot & strike risks
- Theft and larceny not accompanied by violent ingress or exit
- Costs for changing locks and cost for repair of damage caused to the insured premises after an insured event up to 10 % of the total sum insured.
- Expenses towards restoring paper files, plans, records and drawings, data and installation costs for computer programs
- Expenses towards clearance of debris, movement and protection thereof (normally up to 10 % of the loss subject to a maximum of Rs 10,000/-)
- Loss or damage to the properties of the employees
- Death or injury to employees during a burglary or attempted burglary
The Policy does not cover loss or damage arising from
- War and warlike operation, Riot & strike, civil commotion, Terrorist activities conclusion of nature and / or Consequential loss by use of the keys to the safe unless obtained by force or threat
- Any inmate or member of the Insured’s household or his business staff or any other person lawfully in the premises
- Ionizing radiation or contamination by radioactivity
- Nuclear weapons material
- goods held in trust/commission, jewelry, curios, title deeds, business books unless specifically insured.
- By abstraction from a safe using a key or duplicate key, unless it is obtained by violence or threat
- Due to shop lifting, acts involving you/your family members/ your employees
- The extension does not cover losses detected during routine stock taking/ checking.