Theft cover
A home and commercial policy cover that pays for the loss or damage of property following theft, usually conditional on specific circumstances, forced entry, violence, and on protection measures.
Theft cover pays for stolen property and the damage done in the process, forced doors, locks, windows. It is almost always framed by conditions that determine its real scope. Most policies require specific circumstances: forced entry, climbing in, use of false keys, clandestine entry, violence or threats against occupants. Theft by an invited person, or in a home left open, is often excluded. Policies also impose protection measures, security locks, shutters, an alarm for valuable contents, and their absence on the day of the loss may lead to a reduction or forfeiture, within the limits set by law and case law. Valuables, jewelry, art, cash, are subject to specific caps, sometimes on condition of being kept in a safe. Prolonged vacancy of the home, beyond a set number of days, often suspends cover. In commercial insurance, theft cover protects stock, equipment and cash, and its price depends heavily on the nature of the goods and the location. For the insured, reporting to the police promptly and proving ownership of the goods, invoices, photographs, are decisive for compensation.
Textbook case: burglars force the door of a house during the holidays and take jewelry and computer equipment. The insurer pays for the equipment on invoices, but caps the jewelry at 3,000 euros for lack of a safe, and notes that the three-week absence stays below the policy's thirty-day vacancy threshold.
theft cover, burglary cover, theft insurance
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