What is Burglary Insurance
Burglary in home insurance refers to an incident in which an unauthorised individual illegally enters your home by force or violence, such as breaking a lock, door, window, or security system, with the intention of stealing valuables or causing damage to the home. Burglary insurance provides financial protection against the loss of household contents and property damage resulting from burglary. It typically covers stolen items such as electronics, appliances, furniture, and jewellery, as well as repair costs for damaged doors, locks, or windows, subject to the policy terms and conditions.
Who Should Consider Burglary Insurance Policy?
Being a homeowner, the possession of your home carries financial and emotional value. A burglary insurance coverage is essential to protect it against losses from break-ins.
Even if you are renting an apartment and do not own the property, you likely own valuable contents within your rental. It protects your personal belongings from financial loss during a break-in. Typically, the policy purchased by your property owner covers only the building structure, not the contents you bring into the home.
Who Should Buy Burglary Insurance?
Burglary insurance can be useful for anyone who wants financial protection against home theft and break-ins. Therefore, this policy is beneficial for the following individuals:
How Does Burglary Insurance Work?
Burglary insurance works by offering monetary compensation to you for losses caused by a burglary or break-in at your home. Once you buy this plan, the insurer agrees to compensate you for the theft of insured household items and for any damage to the property caused by forced entry, according to the policy terms & condition.
In case of a burglary, you need to immediately inform the police and file an FIR, notify the insurance company, submit the required documents, and provide proof of loss or damage. After verifying the claim, the insurer assesses the value of the stolen or damaged items and settles the claim to accordance with the sum insured, coverage limits, and policy conditions.
Documents Required to File Burglary Insurance Claims
The following documents are generally required while filing a burglary insurance claim:
Why Do You Need a Burglary Insurance Policy for Your Home?
A burglary insurance policy helps homeowners protect against unexpected financial losses from theft, break-ins, or property damage during a burglary attempt. Modern homes often contain expensive electronics, appliances, furniture, jewellery, and personal belongings that can be costly to replace if stolen.
In addition to the loss of valuables, burglars may also damage doors, locks, windows, or interiors as they enter the property. A burglary insurance policy for your home gives financial security in such situations and helps reduce the burden of repair or replacement expenses. It also offers peace of mind, especially for people living in independent houses, urban areas, or homes that remain unoccupied for long periods.
Types of Burglary Insurance Plans for Home
Coverage Under Home Burglary Insurance
Property Contents Cover
The policy covers insured property, such as stocks, furniture, fixtures, and goods, kept on the premises due to burglary or housebreaking. The coverage is available only for items specifically insured under the policy.
Damage to Premises
Any damage to doors, windows, locks, or the insured premises caused by a burglary or attempted burglary is covered under the policy.
Cash and Valuables Cover
The policy can also cover cash, valuables, and securities kept in a locked safe or cash box inside a locked steel cupboard, if specifically declared and insured.
Theft Coverage
The policy offers protection against theft-related losses under specific extensions and coverage conditions.
Riot, Strike & Malicious Damage Cover
Losses caused by riots, strikes, or malicious acts can be covered if this extension is opted for under the policy.
First Loss Basis Cover
The policy provides an option to insure property on a first-loss basis, which helps reduce premiums when a total loss is unlikely.
Gold & Jewellery Exclusion
Gold, silver articles, jewellery, money, bonds, or securities are not covered unless they are specifically insured under the policy.
Other Insurance Exclusion
Any loss already covered under another insurance policy, such as fire or plate glass insurance, will not be payable under this policy.
Key Theft Exclusion
Losses involving the use of original or duplicate keys are excluded unless the keys were obtained through force, assault, or threat.
War & Nuclear Risk Exclusion
The policy does not cover losses arising due to war, nuclear risks, or certain natural calamities categorised as acts of God.
Riot & Strike Exclusion
Losses due to riot, strike, or malicious damage are excluded unless this cover is specifically included in the policy.
Insider Involvement Exclusion
Losses involving employees, inmates, staff members, or the insured person are not covered under the policy.
Consequential Loss Exclusion
Indirect financial losses, business interruption losses, or legal liabilities arising after the burglary are not covered.
How to Protect Your Home Against Burglary?
Here are a few methods that you can incorporate to protect your home against burglary:
-
Secure All Entry Points
It might seem basic, but many incident occur because doors and windows are not locked or working properly. Always ensure that all entry & exit points are securely locked when you leave your home, even if it is just for a short while. The robbers know the minor loopholes in the security that lead to heavy losses. -
Install and Use Home Alarm Systems
If you have a home alarm system, set it whenever you leave the house. If you do not have one, consider buying one and installing it. An alarm system deters burglars and lowers your home insurance premium. Hence, it provides a critical alert if someone attempts to break into your home. -
Install CCTV
Investing in a CCTV setup is a good practice if you are a homeowner. However, it is essential to maintain and regularly check your security devices. If the device is faulty, fix it. Additionally, frequent checks help you identify suspicious acts or vulnerabilities. -
Avoid Advertising Your Absence
The most important yet ignored tip is to avoid telling others about your upcoming vacation or absence from the residence. Usually, thieves monitor your actions and attempt to rob during these break-ins. Instead, you can inform your trusted neighbour to watch your home when you are away.
How to Calculate Home Burglary Insurance Premium?
The premium for home burglary insurance is calculated based on several risk-related and property-related factors. Insurers generally consider the following:
- Type and value of household contents insured
- Sum insured selected under the policy
- Property location and burglary risk in the area
- Type of house or construction
- Availability of security features such as CCTV, alarms, or guards
- Add-on covers opted under the policy
- Occupancy status of the property
- Previous claim history of the policyholder
- Coverage type and policy tenure
How to Buy/Renew Burglary Insurance Online?
Buying or renewing burglary insurance online through Policybazaar is quite simple. Also, you can compare plans here and select coverage based on your needs.
How to File Burglary Insurance Claims?
You can raise a burglary insurance claim online or offline by informing the insurer immediately after the incident and following the required claim process.
-
Inform the insurer about the incident as soon as possible and register the claim with complete details of the loss.
-
If required by your insurer, file an FIR at the nearest police station immediately upon discovering the burglary or housebreaking.
-
Provide all necessary documents, including a copy of the FIR, the claim form, photographs, and proof of ownership of the stolen items.
-
The insurer may appoint a surveyor to inspect the property damage and assess the loss incurred due to burglary.
-
After successful verification and document review, the insurer processes and settles the claim in accordance with the policy terms and conditions.
FAQs About Burglary Insurance for Home
-
Q. What is the difference between burglary and theft?
Ans: Burglary refers to an unlawful entry into the home with the intent to commit theft. It typically involves forced entry and can also cover damage to the property caused by the break-in. Theft refers to robbery or theft regardless of whether there was forced entry. It can also include situations where items are stolen without physically damaging the property. -
Q. What is burglary insurance for property?
Ans: Burglary insurance for property is a type of coverage designed to protect homeowners against financial losses resulting from a break-in. This insurance typically covers losses due to forced entry into the home, including damage to the property and personal belongings. -
Q. How much coverage do I need for burglary insurance?
Ans: The amount of coverage you need depends on several factors, such as the value of personal belongings, size & location of the house, deductible implied, etc. However, you are often recommended to get adequate coverage for high-value items and periodically review and update your coverage as your possessions or home value changes. -
Q. What type of content is insured under burglary cover?
Ans: You can generally insure a range of contents, including electronic items, furniture & fixtures, appliances, and other personal belongings. -
Q. Can I insure my home when it is lent out for rent?
Ans: Yes, you can insure a rented home, but you may make sure you have a comprehensive home insurance policy, which can cover both structure and home content (if you let out a fully furnished home). You can also visit Policybazaar.com to compare various home insurance plans that suit your needs and choose one. -
Q. Will the insurance company deny my claim if I left my house unlocked before any burglary insurance?
Ans: Leaving your house unlocked can potentially lead to a denial of a claim. As a homeowner, you must take reasonable precautions to secure the property.
Articles
- Recent Article
- Popular Articles
How to File & Track a Home Insurance Claim in...
Owning a home is one of the biggest milestones in life, but a
Read more
Rising Flood Risks in Delhi NCR: How Flood...
During heavy monsoon rains, Delhi NCR has seen a sharp rise in
Read more
Valuable Content Cover in Bharat Griha Raksha...
Valuable Content Cover is an optional or add-on cover offered by
Read more
Personal Accident Cover in Bharat Griha Raksha...
Personal Accident (PA) Cover is an add-on cover provided by
Read more
Loss of Rent Cover in Home Insurance
Loss of Rent (LOR) coverage is a significant feature of a home
Read more
