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. To immune yourself from the losses
and safeguard yourself and your property, belongings and documents in your office
or home you should have burglary insurance.
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Types of policies
1. Full Value Insurance :
The policy must be affected for the full value of the property to be insured.
2. First Loss Insurance:
In the event of improbability of total loss, proposer can opt for a percentage of
total stocks to be insured.
3. Stock Declaration Policies:
These policies are given where large stocks frequently fluctuate in quantity during
the year. The sum insured is fixed at the maximum value of stocks which the insured
anticipates he will hold at any one time. A deposit premium of 100% of the annual
premium will be paid at the beginning of the insurance. Monthly declarations of
value are to be sent to the company and the "deposit" premium will be adjusted at
the end of the policy period based upon the average of the monthly declarations.
4. Sales Turnover Policy:
Sales Turnover Policy is a flexible Marine Cargo Insurance Policy which covers the
insurable Risks associated with the transit of goods by the seller. This policy
has the unparalleled advantage of covering not just the entire sales turnover of
the company but can be extended to cover the purchases, imports, exports, returns,
loading, unloading, intermittent storage, movement of goods from factory to depots
or warehouses, warehouses to dealership, dealership to customer.
5. Loading and unloading:
The risk of unloading goods at point of arrival on import and/or inland transit
is also extended to cover in this policy as deemed to be in the ordinary course
of transit. The risk of loading goods at point of origin on export and/or inland
transit is also extended to cover in this policy as deemed to be in the ordinary
course of transit.
COVERAGE
- Property Contained In Business Premises (Such As Stocks, Furniture
Etc) Owned By The Insured.
- Stocks Held In Trust / Commission And For Which The Insured Is Responsible,
If Specifically Covered.
- Damage To Premises Resulting From Burglary And/Or Housebreaking Or
Any Attempt At Burglary.
- Cash, Valuables And Securities Kept In A Locked Safe Or Cash Box In
Locked Steel Cupboard If Specifically Covered.
- Theft.