Most burglary insurance comes as part of homeowner‘s insurance, which covers a limited amount of personal property. There are certain valuable items which require cover beyond the normal scope of Fire and Burglary policies. This is called breakage and pilferage risk, this compensation is for loss or damage to the property insured by any accident or misfortune. Items that can be covered in addition includes:
· Wearing Apparels
· Jewellery & Personal Ornaments
· Trunks & Suitcases
· Fountain Pens, Gold & Silver Wares etc.
· Surveying Instruments
· Tools of Trade
· Sport Requisites
· Household effects
· Cookery and Glassware
· Pictures, Books
· Miscellaneous Equipment
In Nigeria, burglary insurance prices are the almost the same regardless of where you live. In rural areas or those with low median crime rates will get lower premiums, while those living in urban or high-crime neighbourhoods will have to pay higher rates. To get lower premiums, there are specific things which can be done:
· Doors with deadbolts
· Locking security windows
· Adding an alarm system
· Residing in areas with neighbourhood watch
· Anti-theft bars and windows and gates
· Safes for valuables
Taking out burglary/home insurance may seem like a hassle but in the end it will; be worth it when the unexpected happens. It is also very handy to make a list of the most-valuable-items and its price next to it. Along with the list keep there is also three other thing you can do:
· Keep the receipts – it shows identifiable serial numbers proof of purchase and the item’s original value.
· Instruction manuals - also act as proof of purchase as they contain identifiable serial numbers for each of your items.
· Take digital photos – if possible email them to yourself, or, physical photos stored in a safe place will work too.