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Burglary Insurance (Business premises)
This insurance policy is suitable for every individual who is exposed
to the risk of burglary or is liable for goods held in trust/ commission. |
What can be Insured
This insurance policy provides protection to the insured party's
assets and property, such as - Property contained in business premises, stocks owned
or held in trust or commission.
- Premises.
- Cash, valuables, securities (locked in a safe or cash
box or strong cupboard).
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Risks covered
This insurance policy covers all contingencies arising
out of actual loss/ damage to the insured property caused by burglary/
housebreaking
as well damages caused to the premises by the burglars during burglary
or attempts at burglary.
Compensation Offered
This insurance
policy will pay for any contingencies arising out of actual loss/
damage to the insured property caused by burglary/
housebreaking, subject to the Capital Sum Insured.
If the sum insured proves inadequate, then the policy pays only
a proportionate amount.
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Exclusions
The insurance policy will never pay for any loss
or damage
- To goods in trust/ commission, jewellery, curios,
title deeds and books of business unless specifically insured.
- Owing
to shoplifting acts involving
the insured, his family or his employee.
- Recoverable under Fire
insurance or Plate Glass insurance policies.
- Due to war or nuclear
perils, riots or strikes, allied perils
- By abstraction from a safe
using a key or a duplicate, unless it was obtained using violent
threats.
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Fluctuating
stocks can be covered under a "Declaration Policy" while
bulk of stock or heavy items can be covered on a "First Loss
Basis". |
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