Burglary Insurance - QS Study
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Burglary insurance falls under the classification of insurance of property. In case of burglary policy, the loss of damages of household goods and properties and personal effects due to theft, larceny, burglary, house-breaking and acts of such nature are covered. The policy covers the property against loss/damage by burglary/house breaking. It also covers damage to your premises caused by burglars during burglary or attempts at burglary. The Policy pays actual loss/damage to your insured property caused by burglary/house breaking subject to the limit of Sum Insured. The actual loss is compensated.

(1) Insurable interest must exist at the time of loss but not necessarily at the time when the policy was taken.

(ii) The principle of cause proximate will apply to it. The insurance company will be liable to pay only that particular or nearest cause that is covered by the policy. For example, if a loss is caused by several reasons then the nearest cause of loss will be considered.