Burglary Insurance In Malaysia
Burglary insurance coverage in Malaysia is to cover losses or damages to your business properties due to theft. This can be first loss or full value basis as stated in the policy taken. Burglary insurance for home owners are covered by home insurance.
The types of business properties usually covered by burglary insurance are:
- Inventories, Materials, Components, Consignments, Stocks and Goods for Sale
- Business Machinery, Equipment, Tools, Fixtures And Furnishing
- Intellectual Properties, Blueprints and Designs
Different insurance companies will have different terms and conditions for burglary risk coverage for properties, premium pricing and claims processing.
Red Cover Insurance Agents Calculate Premiums and Coverage
These policies coverage and premium calculations will differ between insurance companies. Their terms and conditions will be different too.
Red Cover insurance agents get you proposals, from insurance companies in Malaysia, for coverage on your specific business liabilities and risks. Contact us with your coverage needs and questions.
Business Burglary Risks Coverage
Burglary insurance offers coverage for your business properties from the risks of theft and damages to the place or premises due to:
- Breaking and entering
- Armed robbery
- Robber hiding on premises
Full insurance coverage for all risks and perils such as burglary damages, fire damages, flood damages and others are covered by all risks insurance:
Business Burglary Sum Insured Types
There are two types of sum insured values for burglary insurance:
Burglary Insurance First Loss Basis
Burglary insurance sum insured based on possible selected items of your property to be stolen. This means that not all your properties listed in the burglary policy would be stolen in one go or at the same time.
Burglary Insurance Full Value Basis
Burglary insurance sum insured based on the total property being stolen. This means that all your properties listed in the burglary policy would be stolen at the same time.
Insurance Companies and Agents for Burglary Insurance
Our experienced business insurance agents can guide you on which insurance type to use based on your requirements. They work with several insurance companies such as AIA Insurance, RHB Insurance, AXA Insurance, Liberty Insurance, Tokio Marine, MSIG, Allianz or Takaful Ikhlas and many more to get you the best plans and prices for your requirements.
This will differ between insurance companies and their policies’ fine print. Get a reliable general insurance agent to guide you in comparing and evaluating the insurance proposals from different insurers.
Burglary Insurance Policy in Malaysia
A burglary insurance policy covers losses to a business that results from a burglary at its business premises. The policy will state the properties to be insured, the sum insured of the properties and the location of the properties.
The sum insured is based on the list of properties to insured at the particular business premises. And how these properties are secured, in a safe, locked room etc. This list is categorized by type of property as follows:
1. Stocks and Goods for Sale
2. Consigned Goods
3. Equipment and Tools
4. Furnishings and Fixtures
And more, depending on the insurance company policies. Get our experienced business insurance agents to calculate the sum insured for you.
The burglary insurance claims process differs between insurance company SOPs. It is generally as follows:
1. Police report
2. List of items stolen
3. List of items damaged due to the burglary
4. Insurance adjuster investigation report
5. The excess to be paid by you as stated in the policy
6. The type of burglary insurance taken, i.e., First Loss or Full Value basis
Contact our experienced insurance agents for full clarification to your business situation.
Contact Insurance Agent for Best Insurance Proposals in Malaysia
Levine Lee has over 15 years of working experience with AIA and ING Insurance as an insurance agent and life planner. Jack Gan has over 25 years with Orix and RHB Insurance as general and business insurance agent management.
Contact LEVINE LEE, at email@example.com or +6012 684 0948. She is the focal point for initial customer contact. Jack Gan or other Red Cover insurance team members will step in to contact you depending on your insurance requirements.
Levine and her team can work with you to create the best insurance proposal and quotations to meet your needs and budget plans. The Team can get you quotations from various Insurance Companies in Malaysia for your general business insurance needs.