IRDAI License Number: IRDAI/INT/ISNP/2022/250

Burglary Policy

Epoch Insurance Brokers Private Ltd.
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Burglary Policy
Introduction
Who can take this Policy?
Coverage
Add on Covers
Basis of Sum lnsured
Exclusions
Introduction

The policy protects stock, machines, tools, equipment lying in industrial, shop, warehouse premises against risk of burglary.

Who can take this Policy?

Any individual, firm, organization, or institution can apply for the burglary insurance policy. The only need is that you have an insurable interest in the asset either in your custody or possession.

Coverage

  • Loss or damage to the insured property by theft following upon actual, forcible and violent entry into the premises.
  • Damage to the premises following upon entry as above or any attempted theft.

Add on Covers

  • Theft
  • RSMD
  • Waiver of Key Clause

Basis of Sum lnsured

  • For Stock - Market Value
  • Other than Stock - Reinstatement Value

Exclusions

The policy does not pay below loss or damage:

  • Loss or damage caused by use of key unless it is obtained with force or threat
  • Loss or damage caused by using duplicate key
  • Loss or damage caused by act of insured’s family member or employee
  • Infidelity of employee
  • Riot, strike, Civil commotion, terrorism (coverable by paying extra premium)
  • Consequential loss

Why Choose PolicyLo.com

Professional and Experienced Team
Professional and Experienced Team
Customized Solutions
Customized Solutions
Strong Relationship With Insurance Companies
Strong Relationship With Insurance Companies
Service Commitment Ontime Everytime
Service Commitment Ontime Everytime
Technological Edge
Technological Edge
Additional Services Offered
Additional Services Offered
Competitive Premium
Competitive Premium
Single Window Solution
Single Window Solution

Important Points to remember while Buying the Policy

Adequate Sum Insured - To Avoid Underinsurance

Coverage for Theft

  • Theft should be covered under this policy as it gives wider cover to your property.
Ensure that assets should be covered under the right entity/company

Coverage for Goods Held in Trust

  • Goods held in trust should be covered if your your business model allows you to keep another's goods in your premises.
Risk Location/s should be properly mentioned

Waiver of NTR (Non Traceable Report)

  • Waiver of NTR allows to get the claim released even if the item/goods were not traced.
Downloads
Proposal Form
Proposal Form  
Policy Wordings
Policy Wordings  
Claim Form
Claim Form  
Key Documents
General Claim Intimation Format
General Claim
Intimation Format
Immediate Action Client Should Take
Immediate Action Client
Should Take
Indicative General Documents
                            for Settlement of Claims
Indicative General Documents
for Settlement of Claims

Our Insurance Partners

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Claim Case Study - 1

1
Situation
Situation

In a retail outlet dealing in apparels of all kinds, a loss was reported under the assets item i,e AC copper wire. This theft of copper wire was aroun 1 Lakh. FIR on formal format was not lodged.

2
Challenge
Challenge

The insurer held the view that this FIR which was not lodged on the right format, was not acceptable to them and therefore the claim will not be entertained.

3
Solution
Solution

Convinced the Insurance Company to get the claim settled on the basis of acknowledgement received from the Police station as there was other evidence to show that the theft had indeed occurred.

4
Advisory/Conclusion
Advisory/Conclusion

The insured was formaly adivised to lodged formatted FIR in such situations especially for high value claims.

Claim Case Study - 2

1
Situation
Situation

While trying to enter the premises of a retails outlet, the thieves caused huge damages to Property.

2
Challenge
Challenge

Damage to property was substantial causing loss to door, windows and wall which was caused during theft/burglary. This was not claimed by the insured and therefore not allowed by the surveyor.

3
Solution
Solution

We intervened immediately and convinced the surveyor to add this amount arising out of damage to property while theft is committed. The same was agreed by the surveyor and paid to the client.

4
Advisory/Conclusion
Advisory/Conclusion

Damage to property at the time theft/burglary is payable in the policy.

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