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.
The policy provides cover for the following occurrences:
Loss or damage to insured property due to burglary and/or housebreaking
- Damage to premises caused by burglars during burglary or attempts at burglary The policy pays actual loss / damage to the insured property caused by burglary / house breaking subject to the limit of sum insured.
- If the sum insured is not adequate, the 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. A nominal premium is charged on the balance stock.
- The policy can be extended to cover riot, strike, malicious damage and theft. Further, policies can be issued on declaration basis and on floater basis for stocks.