As per some reports, burglary and theft are very common in India, and a standard home insurance policy provides basic coverage like loss in the structure of the house, home content, etc. but it does not cover loss of valuable items, electronic equipment, etc. To get coverage for such things, you must buy an add-on.
There are many add-ons or additional covers offered by most of the home insurance providers against losses of valuable items from your home due to theft or burglary and you can select one as per your suitability.
Covers Offered by Home Insurance Providers for Theft and Burglary
A home insurance policy provides the below cover against theft and burglary to your home:
- A Home Insurance Policy Covers Both Theft and Burglary: Theft and burglary are different. On one hand, where theft is done in secret, a burglary is known as forceful entry to your home’s premises, on the other hand. While theft takes the benefit of the absence of secrecy and absence, burglary is intimidation. However, a home insurance policy covers both.
- Covers for the Damage Caused to the Structure of Home: When thieves enter your home, they do not enter peacefully. They may come by force or by deceit, they may damage the locks and the door of the house and in the worst case, they may damage the windows and the walls. Getting door replacement can itself cost much and if the walls are damaged, then you may have to spend in lakhs. However, your home insurance policy covers all this.
- Covers for the Losses of Home Content: Whenever a thief enters your home, they try to steal the things that they can easily carry away with them. In this process, many things can get damaged in this entire process. A thief may damage your wall-mounted TV in the process of shifting some item. However, all these kinds of losses are covered.
Add-Ons You Can Purchase with Standard Home Insurance
Additionally, you can purchase some add-ons for providing extra protection against burglary or theft in your home:
- Add-On Cover for Valuables and Jewelry: Jewelry is one of the most valuable things in an Indian household. Despite the small size, jewelry is valuable and is very easy to carry, and it is complicated to prove its ownership. So, it is the first thing on which thieves keep their eyes. You can easily enhance the coverage of your home insurance policy by adding an add-on cover for the same. Besides this, all the items that are made up of precious metals like silver, gold, etc. are also covered in this add-on cover.
- Add-On Cover for Portable Electronic Items: Some mobile phones these days cost more than one lakh rupees nowadays. Moreover, a good laptop, which is very common these days in every home as more and more people are working from home, can cost around Rs.2 lakhs or sometimes even more. Some of you may love to spend money on high-end multimedia and high-end equipment. The cost of such items can easily cost into many lakhs. To protect these items from burglary or theft, an add-on cover with your home insurance policy can work best.
Summing It Up!
Burglary and theft are not positive words, and some of you may avoid talking about them, but they are a real part of life. The best way to avoid these is to ensure protection against them. However, not every household can afford someone at home all the time or stand a guard always. In addition to this, passive security measures like CCTV cameras, burglar alarms, etc. have limitations. So, what can you do in such a case? Well, the best way is to have a home insurance policy with a burglary insurance add-on and keep your house and its items safe.
