Ingenious Ways to Protect Business From Crime Action

The terminology of burglary and/or housebreaking is defined as theft, which involves the activity of 'getting in' or 'going out' of the insured's premise accompanied by coercion and the presence of signs of damage (forcible and violent). It can also be accompanied by acts of abuse/assault/violence or threats against the insured, the insured's employees, or their family members.

Generally, this policy does not cover the loss due to shop-lifting which for most of the particular entrepreneur's shop/supermarkets is hard to avoid. This policy also excludes the risk of loss or damage caused by the insured employee or the employees involved in it.

Wherever possible, the insured property should be itemized based on the nature of each of these properties. The value of each item must be stated in a separate schedule from the policy.

Example :

1. Stock belonging to the insured or entrusted to the insured

2. Furniture, equipment, and furnishing.

3. Money or valuables items stored in a safe or cash box.

It is possible to hold inspections to check safety standards in terms of preventing acts of theft or theft. Especially to certain parts of the insured's premise, such as:

• Cellar, windows, and doors in the basement area

• Glasses doors

• Windows and rear doors on the ground floor, and 

• Windows on the upper floor which could be infiltrated or adjacent to other buildings/structures

If there is a change in the address of the insured during the coverage period, it is necessary to carry out another survey. If it is felt that the security standard is adequate, an endorsement can be issued for the new address of the insured.

There is a general tendency among the proposers that they do not need to ensure a full-amount but a smaller amount because a thief is less likely to steal everything. However, to obtain an adequate premium calculation and risk underwriting consideration, the burglary policy applies an average condition for each item.
Under normal circumstances, the burglary insurance policy also covers damage to the insured's premises where the insured is responsible for the damage. This expansion can only be obtained if the insured has insured his property in full value.

If the cover includes a certain amount of money and valuables stored in the safe, it is important to ensure that the safe is secure enough. Also, if you cover valuable objects stored in the safe, limit it by giving a limit per article to a maximum of 5% of the TSI.

The policy excludes the risk of losing valuables stored in a safe as long as the safe is opened using the original key or duplicate key unless the use of the key or duplicate is accompanied by acts of violence or threats. The content list (list) of the contents of the safe must also be stored securely.

The maximum liability of the insurer is the amount stated in the list. All safe keys including duplicates must be stored off-premise at night or when business activities are closed. The insured's premises must be maintained for 24 hours.

The stock and sales books must always be kept up-to-date so that the insured can easily prove the losses that may arise.

Coverage
This policy covers property while inside, covering the risk of loss and damage due to demolition.

Exception
This policy excludes all forms of risk of loss or damage that arise or are caused by:

1. War, civil war, rebellion, revolution, mass awakening, riots, strikes, riots, floods, hurricanes, earthquakes, and other risks from nature and other atmospheric disturbances

2. The insured's family, employees of the insured, or other people are legally located at the location of the insured's premises.

3. Other risks that are covered by a more specific policy (fire or glass insurance).

4. Property that is entrusted or kept with fees or gold or objects made of silver, watches, jewelry, precious stones, metals, coins, animal hair, statues, texts, rare books, plants, designs/patterns, replica objects, bonds, contracts, bills of exchange, promissory notes, money, stamps, documents unless specifically insured. 

5. Loss of money in or other property kept in a safe using the original or duplicate key unless accompanied by violence or threats.

6. Nuclear hazard

(Reinfokus 3rd edition,  2013)