Burglary Insurance Policy
Burglary Insurance policy covers stocks and contents owned by you or for which you are responsible or held in trust and/or commission at the insured premises. It also covers cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard on specific request.
The policy covers loss or damage caused due to
- Actual forcible and violent entry to or exit from that part of the building occupied by you at the premises.
- Assault or violence or threat of assault or violence to you (or your employees) or any other person lawfully at the premises e.g.; armed hold up
- Theft of any content/stock from the insured premises where there is no forcible and violent entry or exit from the premises
The policy does not cover the following:
- Loss or damage from any yard, garden outbuilding (including sheds or garages not attached to the building) or any other property outside the confines of the premises unless specified in the schedule
- Valuables, unless specifically covered in the schedule
- Loss or damage of motor vehicles, trailers unless shown in the schedule
- Loss or damage the premises that involves any of your employees or intermediaries
- Loss or damage resulting from an act of riot, strike, malicious damage and terrorism
- Damage to glass and sign boards
- Loss or damage to contents or stock when the premises are left unoccupied for more than seven consecutive days unless the same has been reported to us in writing and our written approval obtained
- Contents from the safe following the use of a key to gain access to the safe, or any duplicate thereof belonging to you unless such key has been obtained by aggressive or violent means
- Any consequential loss or legal liability
Theft? Burglary? People often tend to use the terms burglary and theft interchangeably but each of the term has special meaning when viewed from technical standpoint. Theft means depriving the owner of their property be it money or material whereas burglary means forcefully entering structure with intent to commit the crime with or without involving theft. Moment we think of these risks, our subconscious mind starts searching for safeguards. Apart from traditional and more direct ways, one can look for burglary or theft protection insurance policies. While burglary insurance is offered by most, it is rather uncommon for the companies to offer standalone theft insurance in India. Theft as a risk is covered under various insurance policies including motor, house holder’s package and along with burglary.