Benefits of taking out theft insurance

 The theft insurance is one in which the insurance company undertakes to indemnify the insured for the damages suffered as a result of the disappearance, destruction or deterioration of the objects insured due to a theft or attempted robbery. The coverage includes the damage caused by the commission of the crime in any of its forms.

Theft insurance indemnity

The compensation of the insurer will necessarily include:

• The value of the insured interest when the insured object, in fact, is stolen and was not found within the term indicated in the contract.
• The damage that the commission of the crime, in any of its forms, causes on the insured object.

Theft insurance features

Once the subtraction of the insured object occurs and the claim is duly communicated to the insurer, the following characteristics are observed if the insured object is recovered:

• If the insured object is recovered before the expiration of the term indicated in the policy, the insured must receive it, unless the policy expressly recognizes the faculty of its delivery to the insurer, collecting the corresponding compensation.
• If the insured object is recovered after the agreed period and compensation is paid, the insured may withhold the compensation received by giving the insurer the ownership of the insured object; or reacquire it, restoring, in this case, the compensation received for the insured object.

Exceptions to theft insurance

The insurer, unless otherwise agreed, will not be obliged to repair the effects of the loss when it has occurred for any of the following reasons:

• For gross negligence of the insured, the policyholder or the persons responsible for the insured object.
• When the insured object is stolen outside the place described in the policy or because of its transportation, unless some of these circumstances have been expressly agreed by the insurer.
• When the theft is caused by claims arising from extraordinary risks.

What is theft insurance?

The theft insurance is responsible for the loss of the objects insured for theft, assault or robbery, while they are in the place indicated in the Policy, for the damage caused to the insured objects when stealing or attempting to do so and for the destruction that is made. by violating the address. In this way, the insurer is obliged to indemnify the insured for the damages suffered due to theft or attempted theft of the insured objects. In order to compensate, the theft or attempted theft, must be taken by people outside the insured.

Policy against theft:

What is the theft insurance policy?

It is a contract between the insured and the insurance company, which establishes the rights and obligations of both, in relation to insurance against theft contracted. The policy consists of two (02) parts or sections:

• Particular conditions: They constitute the first section of an insurance policy and it indicates the specific conditions of risk for the person or to be insured. These conditions can only extend or clarify aspects of the general conditions included in the second section.
• General conditions: They establish the frame of reference for the insurance to hire. They are standard conditions for the contracted product and are the same for all customers in certain types of insurance.

Types of theft insurance:

The so-called theft insurance is in itself a specialty within the guarantees for damages, offered by insurers within some types of insurance. Theft insurance can be included in the following insurance contracts:

• Home insurance
• Insurance for companies and commerce
• Travel insurance
• Car insurance, motorcycles, vans or other vehicles
• Insurance for motorcycles and other vehicles
• Safe for community.

For each case, the insurance against theft will be subject to particular conditions that will be agreed in the contract, and the indemnities will depend on each loss of the sums insured. Therefore it is recommended to review your policies and verify if they include insurance against theft.