Burglary Insurance Claim Process

Scope of Cover and Documents required for Claims.

Scope of Cover:

  • Loss or damage to the property insured by theft following upon actual, forcible and violent entry into the premises.
  • Damage to the premises following upon entry as above or any attempt thereat.
  • The indemnity provided is to the extent of the intrinsic value of the property so lost or damaged, subject to the limit of the sum insured.

Exclusions:

  • Gold, watches, jewelers, precious stones, plans, designs, money, business books etc. unless specifically insured.
  • Loss or damage where any insured or member of the insured`s household or of his business staff is concerned in the actual theft or damage.
  • Loss or Damage due to Riot & Strike, Civil Commotion, Terrorist activity, Earthquake, Flood Storm, Volcanic eruption, Typhoon, Hurricane, Cyclone, Tornado or other convulsions of Nature.
  • War risks and Risks by Nuclear perils.
  • Consequential Loss of any kind.
  • Loss of money or other property abstracted from the safe following the use of key to the said safe or any duplicate thereof belonging to the insured unless such key has been obtained by assault or violence or any threat.

Documents Required for Claims:

  • Immediately report to the police and obtain a non-traceable certificate that the items are not found.
  • Notify insurer as early as possible.
  • The insurers will insist upon a letter of undertaking on a stamp paper of appropriate value - letter of Subrogation, for refunding the claim amount when the stolen property is recovered.
  • Obtain a final report from Police.
  • Insured has to provide the surveyor complete book of accounts and bills substantiating the loss on the day of incidence to know the value of property stolen.
  • Photographs of the Damage to the premises and damages to lockers etc. to be submitted.

In the event of Claims being repudiated by the Insurance Company the following options are available as a recourse:

  • Make a representation to the Insurance Company/TPA.
  • If no reply is received within 15 days on making such representation make a representation to the Grievance Cell of the Insurance Company.
  • If No Reply is received or if the reply is not satisfactory then make a representation to the Insurance Ombudsman who has Quasi Judicial powers to hear the case and make adjudication.
  • If still not satisfied the next option is to go to court.