Features & Benefits
Requirements
It is unthinkable that someone should violate the sanctity of your home, yet it still is an occurrence. Even in business, stock investments that are stored in the office premises are also open to the risk of such a violation. A lot depends on the safekeeping of our premises. While a break in and robbery cannot be predicted, being prepared is something that is in our hands. There is no replacement for the lost sentimentality in this situation, but Liberty Videocon Burglary and Housebreaking Insurance Policy can at least help your home return to its normalcy.
Benefits
The Burglary Insurance policy can assist you at your most vulnerable situations. Things of your daily use or other amenities will require immediate replacement. This insurance policy helps you move past the incident at the earliest, helping you with the aforementioned replacements.
Sum Insured
The sum insured under this policy is decided based on current market prices for your stock. For items like furniture, equipment, etc. it is fixed as per the reinstatement value.
Premium
The premium for the Burglary Insurance depends on the sum insured, the items, physical security, and the type of premises.
Eligibility
If you own stock for business purposes or have personal possessions open to burglary risks, you are eligible to buy this policy.
Policy Inclusion
The Burglary and Housebreaking Insurance by Liberty Videocon is a ‘named peril’. This means that the loss and damage to the property or possessions should have happened because of a named peril, theft. The theft must have occurred through housebreaking or burglary and there should be signs of violent entry and exit on the premises.
This policy covers:
Destroyed or damaged property as described in the burglary insurance policy by:
- Burglary.
- Housebreaking.
- Robbery (theft that follows forcible and violent entry of or exit from the premises).
- Hold-up (Forcible removal of possessions by actual or threatened violence against the insured).
- Damage to premises resulting from burglary and/ or housebreaking.
- This policy can be issued on the basis of declaration and as a floater for your stocks. You can opt for it on a first loss basis or a full value basis.
- With additional premium, the policy can be extended to cover:
- Riot and strike.
- Loss minimization expenses.
- Expenses towards restoration.
- Expenses towards clearance of debris.
- Loss or damage to the properties of employees.
- Costs for changing locks and for repair of premises damaged.
