Burglary Insurance: What Does it Cover?

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    A burglary insurance policy which covers items or assets contained in the premises including stocks/goods owned or held in trust if specifically covered. This cover may be offered for a business enterprise or for a house.

    Any loss caused by burglary can put a break in your growth plan by putting a financial burden. So it is better to be insured. This policy covers any damage done to your house or premises caused by burglars during burglary or attempts at burglary.

    Burglary Insurance: What Does it Cover?

    If you wish to cover cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard, you have specifically mention.

    The payment of policy at the event depends on the your how much you have insured property as it depends on the amount of sum assured. If insured amount is not sufficient, then policy pays only proportionate loss. So, insurer should give proper formation and explain the basis of fixing the sum insured.

    Hence, you must ensure that you value the property covered correctly to ensure that there is no under insurance.

    A Burglary Insurance Policy can generally be extended to cover riot, strike, malicious damage and theft.

    What is not covered in a Burglary Insurance Policy?

    The Policy will not pay for loss or damage to goods held in trust/commission unless specifically covered, jewellery, curios, title deeds, business books unless specifically insured.

    Any  amount that is recoverable under fire/plate glass insurance policy; loss  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. War perils, riot & strike, acts of god, nuclear perils are covered by payment of additional premium.

    The design of the policy may vary from company to company.


    Read more about: insurance
    Story first published: Saturday, December 13, 2014, 13:22 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more