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Burglary

BURGLARY INSURANCE POLICY 

Description of Burglary Insurance Business:

This form of insurance provides indemnity for loss or damage by burglary of house breaking in respect of property contained in the premises belonging to the insured or for which he is responsible including damage to premises caused by burglary house breaking or any attempt there-at. Cove is provided in respect of property such as goods in trust or on commission for which the insured is responsible stock in trade, business plant and appliances, trade fixtures, fittings and utensils belongings to the insured and cash in locked sate. Damage to the premises falling to be done by the insured is covered. Burglary insurance is divided into two distinct classes – private residences and business premise.

Premium of BG policy calculated on the basis of Location of premises & Type of Business and construction:

All Metropolitan Area.

All municipal Area

All other place other than A & B above

Premium Rate:

Business Premises

 

 

Private Premises

 

 

Location

1st class

2nd class

3rd class

1st class

2ndclass

3rd class

A

3.00

4.50

6.00

2.40

3.60

4.80

B

3.90

5.45

7.80

3.00

4.50

6.00

C

4.80

7.20

9.60

3.90

5.45

7.80

               

Policy exclusions:

1.Deed, Bonds, Bill of Exchange, Promissory Note, Securities for money, Stamps, Stamp collection, pattern, module, Plans, Drawing, designs, models, unless mentioned in the schedule.

2. Loss or damage caused, Brought about expedited directly or indirectly by member of insured family, domestic servant or employee or any person lawfully on the premises.

3. Loss or damage, which can be insured under fire or plate glass insurance

4. Loss or damage caused by earthquake, war invasion, Riot strike civil war