Know Insurance _ Burglary Insurance policy


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Burglary Insurance

Bajaj-Allianz's Burglary Insurance policy covers property contained in business premises, stocks owned, or for which insured is responsible 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.

What does this Policy cover ?
This Burglary Insurance covers loss or damage caused by

    • Burglary and Theft (i.e. theft following upon an actual forcible and violent entry of and / or exit from the premises)
    • Robbery

In respect of contents of offices, warehouses, shops, etc. and cash in safe or strong room and also damage caused to the premises
Extensions

It is possible to extend the policy to include loss of the insured property to cover burglary as a result of riot & strike risks.

It is possible to extend the cover to include theft and larceny not accompanied by violent ingress or exit. The extension does not cover losses detected during routine stock taking/ checking.


Benefits
 
  • Costs for changing locks and cost for repair of damage caused to the insured premises after an insured event up to 10 % of the total sum insured. This extension is available regardless of whether the Insured is a tenant responsible for such repairs or owner of the premises.
  • Loss minimisation expenses up to 10 % of the total sum insured
  • Expenses towards restoring paper files, plans, records and drawings, data and installation costs for computer programs up to Rs 10000
  • Expenses towards clearance of debris and movement and protection up to 10 % of the loss subject to a maximum of Rs 10,000
  • Loss or damage to the properties of the employees of the Insured up to Rs 5,000
  


Exclusions
 

  • The Policy does not cover loss or damage arising from

    • War and warlike operation, Riot & strike, civil commotion, Terrorist activities conclusion of nature and / or Consequential loss by use of the keys to the safe unless obtained by force or threat
    • Any inmate or member of the Insured's household or his business staff or any other person lawfully in the premises
    • Ionizing radiation or contamination by radioactivity
    • Nuclear weapons material