Burglary Insurance

  • Subject Matter for insurance:

Cash, Stock, FFF, Machinery and other contents of a Business or residential premises.

  • Risks Covered:
  1. Loss or damage by burglary or attempted burglary
  2. damage caused to the premises by burglars are also covered
  3. Can be extended to cover theft at an additional premium with approval of RO/HO
  • Definition of Burglary

A theft following a house breaking or a theft followed by a house breaking

House breaking means a criminal house trespass effected by forcible means to gain entry to into or exit from the premises

442 IPC – Criminal Trespass

445 IPC –House Breaking

457 IPC – House Breaking at night

  • 442 IPC. House trespass—Whoever commits criminal trespass by entering into or remaining in any building, tent or vessel used as a human dwelling or any building used as a place for worship, or as a place for the custody of property, is said to commit “house-trespass”. Explanation.—The introduction of any part of the criminal tres­passer’s body is entering sufficient to constitute house-trespass
  • Section 445 IPC- House breaking– A person is said to commit “house-breaking” who commits house-trespass if he effects his entrance into the house or any part of it in any of the six ways hereinafter described; or if, being in the house or any part of it for the purpose of committing an offence, or, having committed an offence therein, he quits the house or any part of it in any of such six ways.
  • Means of entry & exit regarded as House Breaking
  • Way created by self or abettor of house trespass
  • any passage not intended by any person, other than himself or an abettor of the offence, for human entrance; or through any passage to which he has obtained access by scaling or climbing over any wall or building.
  • any passage which he or any abettor of the house-trespass has opened, in order to the committing of the house-trespass by any means by which that passage was not intended by the occupier of the house to be opened.
  • by opening any lock – to commit house trespass to exit after house trespass
  • by using criminal force or committing an assault or by threatening any person with assault.
  • By unfastening a fastened entrance

 

  • Important Exclusion
  1. War perils & nuclear perils.
  2. By using authorized Keys unless obtained by threat or assault.
  3. Caused or aggravated or assisted by the Insured, his family, his Employees.
  4. Consequential loss.
  5. Goods held in trust unless specifically declared.
  6. Recoverable under other policies.
  7. Loss after material alterations.
  8. Underwriting Considerations.
  9. Security measures.
  10. Moral hazard.
  11. Attractiveness, susceptibility and criticality and exposure.
  12. Previous claims history.
  13. Accounting system.
  14. Place of storage.
  15. Terms of cover.
  • policy Types
  1. Full Value Policy
  2. First Loss Policy
  3. Declaration Policy
  4. Floater Declaration Policy