What is covered?
Burglary and/or Housebreaking Policy covers property contained in your premises, stocks/goods owned by you or held in trust and/or commission. It also covers cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard on specific request.
The policy covers the property against loss/damage by burglary/house breaking. It also covers damage to your premises caused by burglars during burglary or attempts at burglary. The Policy pays actual loss/damage to your insured property caused by burglary/house breaking subject to the limit of Sum Insured. If Sum Insured is not adequate, Policy pays only proportionate loss. There is also a provision in the Policy to cover bulk items on ‘first loss’ basis wherein a percentage of total stock stored can be taken as that exposed to the risk of burglary and housebreaking. The premium is charged on this percentage selected only.
What is not covered?
To goods held in trust/commission, jewellery, curios, title deeds, business books unless specifically insured.
Recoverable under Fire/Plate glass insurance policy
By abstraction from a safe using a key or duplicate key, unless it is obtained by violence or threat
Due to shop lifting, acts involving you/your family members/ your employees
Due to War perils, Riot & Strike (covered by payment of additional premium), Acts of God, Nuclear perils