Many businesses carry high amounts of valuable materials and products that make them attractive to professional thieves, with almost all companies vulnerable to petty pilfering. Some companies, for instance, those working with pharmaceuticals or precious metals and stones, are at special risk of theft. The risk of threat between businesses vary so significantly that each business deserves to be treated individually when it comes to their burglary insurance cover package.
Burglary events fall into three basic categories:
- Theft, or attempted theft following forcible entry into a building
- Theft, or attempted theft by a person concealed in a building and exiting after business hours
- Assault or violence, violent intimidation to employees
Burglary insurance is available for all these categories, however the cost of cover will heavily depend on deductibles and the maximum limit of cover.
Attempting to achieve 100% cover is likely to outweigh the benefits of burglary insurance. Providing optimum cover for your business will involve considering the damage that could be caused by different events and distinguishing those which can significantly impact your business from those that are irritants with limited impact on the long term health of your business.
Sydney Insurance Brokers have many years’ experience assisting businesses to correctly assess their vulnerability to burglary and designing burglary insurance packages that deliver optimum protection.