Burglary insurance policies are intended to offer an additional layer of security to your property, for example, your home, office, factory, and godown against burglary and housebreaking.
In any case, it will not cover any such episode coming about because of riots, shoplifting, and war conditions. It normally does not cover things that are stolen from a safe using a duplicate key except if there is the contribution of viciousness or danger.
Burglary insurance is regularly mistaken for theft insurance. In any case, they are two separate insurance approaches. In contrast to, theft insurance, burglary insurance includes theft conducted with viciousness and an even armed robbery. It offers coverage for damage(s) or misfortune (es) caused to your property and its contents, under the accompanying circumstances:
On the off chance that someone breaks into your home and takes the things in your home then it will be both emotionally and monetarily decimating. You can likewise get add-on coverage for your costly jewellery, diamonds or stones, under Home Burglary Insurance policy.
In the event that some pariah breaks into your office premises and figures out how to take the merchandise in trust, fittings, stock-in-exchange, instruments of the exchange, for example, typewriters, number crunchers, and so forth then likewise burglary insurance or theft insurance would act the hero. It offers the ideal money related help to assist you with adapting up to such occurrences.
The primary reason that burglary insurance policies solve is that they risk-proof the insured premises from a violent or forceful attempt to theft. In the event that burglaries and house-breaking incidents are regular in your general vicinity, then at that point, you should get theft or burglary insurance cover to ensure the well-being and security of your house/office /go down.
The prime intent of buying burglary insurance is to risk-proof your premises against a burglary/burglary attempt.
Incidents such as housebreaking, theft, and so on are the headlines of the newspaper often. Such news and incident are a threat to the safety and security of the home/office/godown.
We are living in times when you simply can not leave hour home unattended over a long duration of time. In case, if you do so, at the back of your mind you are always in stress in regards to the safety and security of the equivalent. Under such circumstances, burglary insurance gives you peace of mind and sense of satisfaction.
When far away from home/office, burglary insurance take care of your worries in regards to the security.
Burglary insurance plans can be classified into three types, which are:
A full value insurance plan provides the complete value of the property insured.
Under first loss insurance, when there is an improbability of a total loss, it offers the policyholder to select a certain percentage of the stocks to be insured.
This plan is beneficial when a large number of stocks fluctuate frequently during a financial year. The sum assured is locked at the highest stock value that is anticipated by the policyholder.
The features may differ from one insurer to another. However, some of the key features of home burglary/burglary insurance plans are listed below:
A burglary insurance policy offers financial backing in case if there is any loss/damage caused to the insured property. Let us have a look at the advantages of buying a burglary insurance policy:
A theft at office, shop or home can cause immense money related misfortunes. However, a home burglary insurance policy would offer ideal compensation under such circumstances. In India, the incidences of burglaries are quite common. And to recoup from such immense misfortunes, a burglary insurance policy is required.
It is the simple, helpful, convenient and hassle-free way to defend yourself and your property from such risks.
In the below grid, is the overview of coverage offered in a burglary insurance plan.
It provides coverage for loss/ damage caused to the insured assets within the insured premise, due to any of the following reasons:
In the below grid, is a list of some of the common limitations in a burglary insurance policy:
ICICI Lombard General Insurance
- Cover for the loss/damage caused by burglary, theft, riots, strikes and terrorist.
- Option to insure the stocks fluctuating in value on a declaration value.
- Stocks may also be insured on a first loss basis.
Reliance General Insurance
- Cover for burglary/housebreaking at one’s business premises.
- Cover for cash, jewellery, etc. when kept in a safe securely.
- Enhance the policy by and opt for cover against loss/damage caused due to riots, strike, theft and any malevolent damage.
- Hassle-free and quick claim settlement process.
- The cover is available on a first loss basis.
SBI General Insurance
- Cover for any damage caused in case of theft to the personal belongings, safe/strong room, etc.
- Quick, fair and hassle-free claim settlement process.
- In case of demise/injury occurred due to theft, the lump sum benefit will be availed.
Bharti AXA General Insurance
- Cover for property within the business establishment, stocks owned or held in trust or commission.
- The cover caused to the loss/damage to the insured property subject to the limit of sum insured.
- Extend the policy by opting the covers for money, valuables, securities kept in a locked safe or cash box.
- Offer cover on bulk items upon first loss basis.
On the off chance, if you need to file a claim for burglary insurance, all you need to follow is the procedure mentioned below:
At the onset, the insured must inform the insurance provider and the close by the police station in regards to the incident. The insured should register the claim in regards to the loss or damage incurred to the insurance provider within 14 days.
Moreover, the insurer should provide all relevant and necessary details, evidence in regards to the loss/damage incurred to the insurance provider.
Incidences like burglary hinder the growth of a business by putting a financial burden. PolicyBazaar can help you in comparing and choosing the best burglary insurance to safeguard assets you value the most. Now you can enrol anytime, anywhere and get a customized plan as per your requirements.
We strongly recommend you to compare insurance plans from different insurance companies. You can visit our website to get free quotations from top insurers and make easy only comparison and then choose the best plan.