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theft and burglary insurance policy

26 March 2023

At the present time, business owners or even ordinary people cannot bear the responsibility for the complete loss of their property in the event of theft or burglary by others, hence the idea of the theft and burglary insurance policy, as it is one of the means that avoid you from bearing the costs of any type of theft, whether it is in your home, your work institution, or even in your store.

Through the theft and burglary insurance policy, you can cover the risks of theft in the insured place in addition to avoiding the heavy financial losses that result from theft, knowing that theft and burglary insurance is one policy, but each act is different from the other

The terms "burglary" and "theft" are often used interchangeably but are completely different especially when it comes to the insurance policy against this type of risk, while both involve some kind of theft, illegal interference, and the use of force, the main difference is the type of force used during the act.

In the theft and burglary insurance policy. What is the difference between theft and burglary?

Theft: Theft is defined as the use of force or the threat of using force or intimidation to seize someone else's property without their consent, which means that there is a victim involved in the act, and an easy example of this is robberies that occur in banks where cashiers and customers are stopped.

Burglary: On the other hand, burglary involves entering the place by force but without force being used against anyone, and one of the most famous examples of this is the entry and exit of a thief from the place by sneaking in without anyone noticing or getting involved.

Hence, we find that theft and burglary are two separate things, as there is a separate policy for theft insurance, a separate policy for burglary insurance, and a theft and burglary insurance policy that combines the two together.

To file a theft claim, you must provide evidence of an attempt to enter the insured building or place without using violence, as burglary involves "entering by force and violence" into the building in order to carry out the theft.

In order to prove that the burglary occurred, insurance companies will question the sight or existence of evidence of possession of stolen items such as jewelry bills, lockers, etc., and the police report if the incident is greater with proof of the use of force to enter the building, through the police report proving the presence of broken windows, scratch marks on the doors, etc., and if there are no signs of violent entry, the policy will not cover the burglary aspect, but will fall under other categories of coverage such as theft.

Can burglary be covered by the usual insurance policies?

Burglary coverage is usually part of most other insurance policies, including:

Although the previous insurance policies cover the owner in part, it should be noted that burglary coverage in such policies is very limited, insurance companies usually do not insure a wide range of properties, for example; companies cover burglary on home appliances in general only but without covering burglary of money or jewelry in the house at the same time, or may put strict restrictions to insure such accidents by reducing the amount of compensation that You get it in case of loss of property by burglary.

Therefore, the presence of property exposed to theft or burglary requires choosing the theft and burglary insurance policy without retraction, because it provides full protection for your property and the ability to compensate you for it in the event of its loss in any form of theft or burglary.

What is a theft and burglary insurance policy?

A theft and burglary insurance policy is a type of crime insurance that simply covers losses resulting from burglary and property theft together, as the term burglary refers to the use of force to illegally enter another person's property, and then steal that property without any right.

The types of losses insured in the theft and burglary insurance policy include:

  • Stealing property from enclosed places such as a home, workplace or car.

  • Repair damage caused by property damage as a result of burglary or violence.

  • Cover any loss or damage to buildings during theft.

  • Reimbursement of the cost of items stolen from the insured place.

The cost of the burglary and theft insurance premium is determined based on the nature of the items, inventory in the building and other risks to which you are expected to be exposed.

What are the exceptions in the theft and burglary insurance policy?

A theft and burglary insurance policy will not provide compensation for the following items – you may need to purchase an additional policy to cover that property – such as:

  • Stealing precious metals such as silver, gold, and others.

  • Theft and burglary by employees.

  • Things that have been stolen by employees.

  • Theft during riots, war, strikes, natural disasters, and terrorist activities in the country.

In what cases are theft and burglary insurance policy claims not accepted?

  • Theft carried out in buildings left unattended or cameras.

  • Theft takes place in buildings that are not properly sealed.

  • Buildings in which security does not play its role.

  • Fraudulent theft to claim the benefits of a theft insurance policy.

Therefore, if you own a building or project or even looking to protect your home and property from theft and burglary, choosing a theft and burglary insurance policy is not considered a luxury nowadays.

If you believe that theft poses an insured risk to your property, you can rest assured that your property is well protected against all types of criminal losses be it burglary, theft, or otherwise if you choose Brokerage Insurance for your property.

We now offer you the fastest insurance services and the best offers, just by communicating with our customer service team, you can know all your needs, the most appropriate insurance policies you need, and all the details of the quotations that suit you, leaving only the choice on your part and implementation under the best service from Brokerage Insurance.