Definition
Burglary Insurance
Burglary insurance covers loss of or damage to property from theft involving forcible and violent entry or exit.
Distinct from simple theft, burglary cover requires evidence of forcible entry or exit, protecting business stock, cash, equipment and household contents against break-ins. It is widely bought by shops, offices and warehouses, and forms part of home contents cover for households.
Policies may exclude theft by employees (covered instead by fidelity guarantee) and require reasonable security precautions. Claims usually need a police FIR. Burglary cover complements fire and other property protections to give businesses and homes rounded protection against loss.
Related terms
- PerilA peril is the actual cause of a loss, such as fire, flood, theft, accident or illness, against which insurance provides protection.
- Indemnity PrincipleThe principle of indemnity ensures an insured is restored to their pre-loss financial position but cannot profit from a claim, applying to general insurance.
- Contents CoverContents cover insures the movable belongings inside a home, such as furniture, appliances, electronics and valuables, against insured perils.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.