Burglary insurance is a form of insurance limited to cases involving "visible evidence of forceful entry". Theft insurance covers losses by almost all forms of stealing. Burglary policies are generally designed to cover either business property or personal property. Business policies are more restrictive. Policies generally cover damage done by thieves in breaking and entering but not loss due to employees' dishonesty. Fidelity bonds cover the latter.
An open-stock burglary policy is primarily for merchandisers. Coverage includes robbery of watchmen. (Robbery involves "threat of bodily harm.") A safe-burglary policy is appropriate if large sums of money or valuable property are kept in a safe. It excludes loss caused by the dishonesty of an insured person or partner but covers loss due to dishonesty of employees. If thieves take a safe intact from the premises, the loss is covered. Other common business coverages are the money and securities broad form and storekeepers' burglary and robbery. Theft of personal property is one of many perils covered by a personal property floater and by a homeowners' policy. The broad-form theft policy covers only theft losses.
Because of the technical meaning of words used in theft policies and the variety of policies available, the counsel of experienced personnel is advisable in purchasing such insurance.
More by this Author
The flea, which is found on dogs, Man and cats, occurs nearly everywhere that dogs are found. The male is about two millimetres long, with the female about a millimetre and a half longer. Fleas usually feed every day...
Bricks are made from clay and other minerals, which are processed into a workable consistency, formed to standard sizes, and fired in a kiln to make them strong, durable, and attractive. Building bricks are inexpensive...
Nails, used since ancient times, are still the fasteners most commonly used for joining wood, especially in building wood-frame houses. More than 60,000 nails may be used in a five-room house.
No comments yet.