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This provides cover for loss or damage to property arising from forcible or violent entry to or exit from the premises. This may include damage to the building.
Special Conditions:
Most burglary insurances are done on a “FIRST LOSS” basis. It is unusual for all contents to be stolen. Therefore, after declaring the total value of the contents, an estimate is made of the maximum value that can be stolen at any one event. This estimate is referred to as the First Loss sum insured which will be the maximum sum that will be paid under the policy. A discount is then applied to the premiums since the First Loss sum insured is less than the full value at risk. 'Under Insurance’ or ‘Average Clause' is applicable to this policy, hence full values must be declared.
An Excess is applicable, which is dependent on underwriting
consideration.
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