Creating assets takes years of hard work, but one theft can leave you crippled financially. The Burglary and Housebreaking Insurance Policy keeps your property safe and gives you the peace of mind that you deserve.Key Benefits
• Insurance for burglary and housebreaking at your business premises.
• Cover available on a first loss basis by way of judicious management of probable maximum loss assessment.
• Policy can be extended to cover riot, strike, malicious damage, and theft.
• Several variations such as floater policy, declaration policy, and floater declaration policy available.Policy Coverage
Perils covered are as under:
• Property such as stocks and furniture owned by the insured in the business premise is covered.
• Stocks held in trust/ commission and for which the insured is responsible, if specifically covered.
• Damage to premises resulting from burglary, and/or housebreaking or any attempt at burglary is covered.
• Damage to premises resulting from burglary, and/or housebreaking or any attempt at burglary is covered.What will be the level of coverage?
• In Burglary Policy, the Sum Insured should be fixed on current market prices for stocks. For other items such as furniture, fixture, equipment, etc., it can be fixed either on Market Value (i.e. new replacement cost less depreciation) or on a Reinstatement Value basis.
• Further, to cover the fluctuating stocks at one place or at many places or variations due to seasonality, you can choose from our Floater, Declaration or Floater Declaration Policies.
• You can also opt for our First Loss Policy where the Sum Insured chosen by you is a percentage of the full value of property in respect of stocks of bulk nature, where it is impossible for the entire stocks/contents to be burgled at one time.
The policy will not pay for the following losses or damage:
• Loss of goods held in trust/ commission, jewelry, curios, title deeds, business books, unless specifically covered.
• Burglary without any forcible entry.
• Shop lifting, or acts where insured or his/her family members or employees are involved.
• Losses recoverable under fire/ plate glass insurance policy.
• War threats and nuclear perils.
• Riot, strike, and malicious damage unless specifically covered.
• Consequential loss or legal liability of any kind.
• Premises left uninhabited for seven or more consecutive days, unless specifically agreed upon.
• Uninformed material alteration in the premises.