Burglary Insurance Policy
The home burglary insurance policy offers
protection against the risk of loss or damage by burglary,
housebreaking, theft or larceny in residential premises.
Protection is offered from burglary to both the premises as well
as personal belongings. Although insurance companies define
burglary by means of entry and exit through "violent and
forcible" means, legal instances have proved that evidence of
use of force is not necessary.
The home burglary insurance policy covers any loss of property due
to burglary occurring during the policy period. The amount of
claim payable would be limited to the sum insured or market value
at the time of loss whichever is lower. Apart from compensation
for the stolen property, the burglary policy covers damage to the
premises like walls, doors, windows, locks, bolts, etc.
Loss of or damage to livestock, motor vehicles, pedal cycles,
money, securities, stamps, bullion, deeds, bonds, bills of
exchange, promissory notes, share certificates, business books,
manuscripts or documents of any kind cannot be claimed under a
If the home burglary policy is not a part of a Householders
Package policy, the applicant may have to file separate list of
property to be covered, giving detailed description and individual
values to avoid ambiguity. Before granting cover, Inspection is
carried out by Agents or Brokers or Marketing officers of the
The cost of home burglary insurance is payable by way of a monthly
premium to the Insurance Company. This premium amount varies from
0.2%-4% of the value being insured on an annual basis. In order to
substantiate a burglary insurance claim, one should inform the
insurance company immediately (within 14 days) in writing with
details of the amount lost along with the evidence.