The policy is designed to cover business premises against loss or damage to the property as a result of:

  1. Theft following actual, forcible and violent entry into the premises.
  2. Damage to the premises due to entry as above or any attempt thereat

The cover provided is to the extent of the intrinsic value of the property so lost or damaged subject to the limit of the sum insured.

There are two types of policies available:

  • Full Value Insurance: The policy must be effected for the full value of the property to be insured.
  • First Loss Insurance: In the event of improbability of total loss, the proposer can opt for a percentage of total stocks to be insured.


The insurance company shall not be liable in respect of:

  • Gold, watches, jewellery, 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/hers business staff is concerned in the actual theft or damage.

The policy shall cease to attach:

  • In the event of material alterations to the premises whereby the risk is increased.
  • If the insurable interests has passed from the insured otherwise by will or operation of law.