Burglary Insurance

Photo by Richard Dudley
Photo by Richard Dudley

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 meaningĀ  of words used in theft policies and the variety of policies available, the counsel of experienced personnel is advisable in purchasing such insurance.

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