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Burglary insurance provides coverage to the policyholder in the event that the insured home gets burgled (entered into & stolen.) Burglary insurance can be availed by a person having a flat, bungalow, or even a mansion. Burglary insurance can also be availed by business people owning shops, offices, warehouses, and more.
Let us now look at some of the most important aspects of burglary insurance below.
The inclusions and exclusions of burglary insurance can vary from plan to plan and from insurer to insurer. That being said, mentioned within are some of the general inclusions and exclusions:
Intentional damage leading to moral hazard
Dames to property due to forced entry
Cash that is stolen
Valuables like jewellery, art, and furniture
Damages caused due to the premise left unattended (unlocked or without proper security measures in place)
Death caused due to burglary
Damages caused due to government confiscation of the insured property
Disability caused due to burglary
Rioting and strikes
Here is a list of insurance companies in India that provide burglary insurance services. Some of the companies provide a stand-alone burglary insurance plan, where as some insurance companies only provide burglary insurance as an additional rider that can be bought with a property insurance policy.
Frequently asked questions
Yes, there are stand-alone burglary insurance plans available in India. However, Some insurance companies prefer to only offer burglary insurance coverage as part of an additional rider that the policyholder can avail after buying a property insurance policy.
No, burglary insurance is not mandatory. It is advisable to opt for a burglary insurance plan but it is not mandatory.