As crime rates and levels of concern related to crimes like burglary continue to rise in Nigeria (Statista), every day more Nigerians consider burglary insurance as an option for their home or business insurance.
What is Burglary Insurance
Burglary insurance recompenses for damage or loss caused by insured valuable items and property due to burglary or housebreaking. Now, before we dive deep into the function of burglary insurance, let´s first define what a burglary is:
A burglary occurs whenever a person enters your property to perform any unlawful act.
The function of burglary insurance is to protect your business and home property from any unlawful act carried by a trespassing person. This type of insurance may be advisable when you have an independent house, own a shop, live in a gated community apartment, or any unforeseen property.
BANNER: We give free advice on burglary insurance – Learn more here (Linking to Landing Page)
When Burglary Insurance may not cover you
Unfortunately, you should note that certain situations will not allow you to be compensated in the event of burglary or theft; this is called warranty exclusions. Some examples are:
- The crime was committed by a family member.
- An outbuilding separate from your main residence.
- The theft was committed with the help of one of the occupants of the home.
- Property left in an outdoor space such as a garden or stairwell.
How to receive compensation from burglary insurance after theft:
Depending on the guarantee conditions of your home insurance contract, you may be eligible for compensation. If the incident happened in your business, check your business insurance policy. If you don´t have any kind of business insurance, this article explaining why you need business insurance may be of your interest. In order to become eligible for compensation after a theft, you will have to start with the following two steps:
File a complaint:
First of all, it is important to keep all possible evidence of the theft, such as a broken lock or anything else. It’s your first duty to go to the nearest police station as soon as possible to fill a complaint about the robbery. The complaint must be sent to your insurer with your claim.
Inform your burglary insurance provider:
The second step is to contact your insurance company. Your insurer will estimate the damage and attach the evidence to your complaint. You will also need any document that can justify the existence of the goods that have been stolen to assess the damage caused.
Depending on the information you have communicated to your insurance company, they may decide to delegate an expert to provide a precise estimate of the situation. The evidence you provide will influence the insurer’s decision regarding the amount of compensation to be paid to you. Keep in mind that if there is a deductible you may have to pay for it.
Warning: If you make a late declaration to the insurer, it may invoke a forfeiture of guarantee and you may lose your right to compensation.
How to Proceed, and What Information is Required at the Time of a Burglary crime?
Fill Out a Declaration
The declaration can be done in different ways:
- By telephone
- Online through insurer’s website
- By registered mail with acknowledgment of receipt.
Note that, when making the declaration, it is in the interest of the insured to be as precise as possible and to provide as much information as possible, such as:
- His/her contact details and insurance contract number.
- A copy of the complaint
- Description of the incident: presumed date, time, circumstances, etc.
- A description of the material and immaterial damage observed such as stolen, damaged, destroyed objects, etc.
Provide Proof of Burglary and Stolen Items
To benefit from compensation, you will have to prove the authenticity of the robbery:
- Examine your accommodation for any traces that could prove the burglary and take pictures: fingerprints scratches … Be careful not to touch what has been moved, as the police are likely to come and collect fingerprints.
- Identify any trace of hacking of the home automation device, photo, or video of the monitoring system and try to obtain the testimony of a neighbor or any other witness.
- Gather the supporting documents for the purchase and value of the stolen goods.
Contact YOA Insurance Brokers:
Our experts will guide you through the process of filing the claim with your insurer.
Here is some extra advice:
- Read all the terms of the contract carefully. If in doubt, do not hesitate to ask your insurer for details in writing.
- List and disclose all information about existing protection systems, size of the house, property value, etc. Be precise and honest in the information you give to your insurer.
- Do not hesitate to contest a refusal of reimbursement.
- Follow the progress of the file closely. If the law does not impose a deadline for compensation, your contract may do.
- Prefer contact by mail, preferably with acknowledgment of receipt.
If you need any help regarding burglary insurance, expect more and consult YOA Insurance Brokers for help.