Burglary or Housebreaking Insurance

Any homeowner or business is eligible to purchase this insurance.

• Losses will not be covered if the insured or their employees are involved in the burglary
• Precious metals and cash may be excluded unless explicitly covered by the policy
• Theft or burglary of share certificates, promissory bonds, treasury bills, etc., is not covered
• Burglary or theft occurring when the premises were left unattended, unoccupied, or not fully secured will not be covered
• Claims resulting from fraudulent acts are not covered.
• Theft using a duplicate key is not covered unless the key was obtained through force
• Burglary will not be covered where proper security measures are not maintained as warranted
• Consequential losses are not covered
• Losses caused by war and nuclear perils are not covered

• Stock Declaration Policy: This insurance policy covers businesses that have difficulty estimating the exact value of their inventory. In such situations, the sum insured is typically set at the highest potential value of the stock.
• First Loss Policy: This policy insures a portion of the stock that is at higher risk of burglary, applicable in scenarios where predicting a total loss is uncertain, such as in an event of burglary at shopping malls, sugar warehouses, vehicle showrooms, etc.
• Full Value Policy: This policy provides coverage for an asset at its full value, ensuring that in the event of a loss, the entire value is indemnified. This is particularly relevant for businesses dealing in high-value items such as wristwatches, home appliances, and similar goods.

This is a comparatively affordable policy. The premium depends on the type of storage, class of construction, the nature of goods, the financial value and the security measures.