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BURGLARY INSURANCE

ABOUT

Warehouses/godowns, stockists/wholesalers, trading houses, shopkeepers, jewelers, cash vaults, ATMs, etc., need this insurance. All tangible and real Properties owned, leased, hypothecated, in lien or held in trust or on commission, except properties with intrinsic value (e.g, bullion, precious gems, work of art, curios, artifacts, fossils, etc) are covered.

It is necessary and important to prove that violent and forcible entry into or exit from premises has occurred.

Coverage is for one year and insurance has to be renewed each year. This is a location based policy, and all locations more than one should be clearly declared and noted, with assets value for each location in a schedule.

BURGLARY INSURANCE

BENEFITS

  • Insurers offer risk inspection services where sum insured (value of assets) is high, nature of property is different and risk exposure is complex.
  • Property can be covered on first loss basis, where chances of total loss are extremely remote or stock involved (e.g., iron billets, bars, rod bundles, etc) is too heavy to be ordinarily lifted.
  • Coverage available on declaration basis for one location and on floater declaration basis for multiple locations.
  • Indemnity is limited to sum insured either on the whole, or individual items as the case may be.

Add On Covers

  • Theft, Riot & Strike and Terrorism perils can be added on to the basic cover

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