Compare & Buy Best Burglary Insurance Policy in India‎

What is Burglary Insurance?

Burglary insurance policy is specifically designed to cover the losses arising as a result of burglary. The term burglary represents the act of entering any property illegally or unlawfully with the purpose of committing a crime and this might not always involve theft. The burglary or housebreaking insurance policies are meticulously designed to provide monetary reimbursement in case of loss or damage to a property in your premises by acts of housebreaking and or burglary. Burglary insurance online policy generally covers property damage and financial losses arising out of the followings:
• The burglary insurance covers the theft of property from within the household premises or within the automobile.
• Damage due to the entry of an intruder by force is covered under burglary insurance policies.
Insurance companies are required policyholders to inform the authorities of the burglary as one of the first steps they can take before registering a claim.


Importance of Burglary Insurance

Every one of us stock up valuable goods and or documents at our home and office premise. If somebody breaks into your house and steals your expensive gems, jewelry, or stones you will have no other way left but to face a financial loss. Similarly, you will go helpless if an intruder manages to enter your office premise unlawfully and steal your important data or business plan. We’ll have no option in our hands if somebody steals all that.
As a result of which, the financial loss we will have to suffer would add up to our anguish. But you need not worry since there is a simple, convenient and hassle-free way by which you can safeguard the security of your property. And the all-in-one solution is to buy burglary insurance. Burglary insurance policies are generally formulated to shield you against such losses or damages. A burglary insurance policy provides you with monetary support in the event where you face hard and tough times as mentioned above.


Key Benefits, Features & Coverage of Burglary Insurance Policy in India

Burglary insurance policy in India comes with wide-ranging coverage options. Burglary insurance coverage provides protection for property stocks owned by you or held in trust and/or commission, contained in business premises. Burglary insurance policy online in India can be further extended to cover valuables, cash, securities kept in a locked safe or cash box in locked steel cupboard. There are various burglary insurance companies in India that offer these policies online. You can easily purchase burglary insurance online. It is advisable to go for the best burglary insurance coverage. Following are the exclusive features and benefits of Burglary insurance policy in India.
• Burglary insurance policy in India covers damage or loss to an insured property in case of burglary and/or housebreaking.
• You can extend your burglary insurance online policy to cover strike, riot, theft, and malicious damage. In addition, burglary instance policies can be issued on floater basis and on declaration basis for stocks.
• In case of an inadequate Sum Insured, the burglary insurance online policy pays only for proportionate loss.
• In this policy, there is a provision as well to cover bulk items on "first loss" basis, where a limited percentage of total stock stored can be taken as that exposed to the risk of housebreaking or burglary. The premium you will be required to pay is charged on the basis of the percentage selected only. A nominal premium is chargeable on the balance stock.
• Burglary insurance policy pays actual damage / loss to the insured property caused by burglary / house breaking but this is a subject to the limit of Sum Insured.
• The policy covers damage to premises caused by burglars during burglary or attempts at burglary.


Types of Burglary Insurance

There are basically three types of burglary insurance policies.
• Stock Declaration Insurance: This plan is the best and perfect when a large number of stocks often vary during a financial year. The Sum Insured is fixed at the highest stock value that is projected by the policyholder.
• First Loss Insurance: In the event of an implausibility of total loss, this plan provides a policyholder to select a percentage of the stocks that can be insured.
• Full Value Insurance: This plan offers full value of the insured property.


What is Not Cover under Burglary Insurance Policy in India?

Burglary insurance policy, however, has a number of exclusions which cannot be covered. Exclusions under burglary insurance mean that the policy will not cover certain factors in case of which a claim is filed. Find out the exclusions on burglary insurance policy.
• Burglary insurance will not cover any loss or damage resulting from shop lifting, acts involving you / your family members/ your employees etc.
• The goods held in trust / commission, title deeds, jewellery, curios, business books (unless specifically insured) etc. will not be covered under burglary insurance.
• Any loss or damage due to War perils, Strike and Riots (which are of course, covered by payment of additional premium), nuclear perils, Acts of God are not covered under burglary insurance in India.
• By abstraction from a safe using a key or duplicate key, unless it is obtained by violence or threat.
However, the details regarding the exclusions on the burglary insurance furnished above do not comprise the entire terms and conditions. It’s advisable to refer to the policy document for a clearer understanding.


How to Buy Burglary Insurance Online in India?

The birth of modern technology has made the whole game of insurance buying as easy as drinking water. You can buy any insurance policy online. There’s a huge presence of a number of insurance companies on the internet from where you can effortlessly buy the best insurance plans of your own choice. The same applies when it comes to buying burglary insurance online. But before purchasing insurance for burglary, you must make sure you compare burglary insurance quotes. By comparing various burglary insurance quotes online you will be entitled to avail the best plans within an affordable premium. In addition, you will be able to see the details of various plans and compare the coverage offered by different insurers on burglary insurance online. In the end, pay the premium for the kind of plan you want to buy online to start coverage on your burglary insurance policy.