Known also as Burglary Insurance, this covers the trade contents against theft accompanied by an actual forcible and violent entry of or exit from the premises.
Premiums
These will depend on a number of factors, including type of business, location, protections and previous claims history. Premiums can be reduced by opting for a voluntary deductible, or by choosing a “first loss” sum insured – please see below.
Features
Where it is unlikely that the full value of the property at risk could be stolen at any one time, you may save premium by opting for a “first loss” sum insured. This represents the maximum probable loss, and ensures that you are not paying premium unnecessarily.
No compulsory deductible. You may however reduce the premiums further by opting for a voluntary deductible.
It can be seen that commercial general insurance is a complicated matter, and is best handled by a professionally-qualified insurance broker or agent, who will also be there for you in the event of a claim. For further information, please contact one of the insurance companies listed in our Bahamas Directory.
Waiver
Nothing contained in this article should be construed as altering, amending or adding to any policy of insurance, cover note or binder. For full details of the policy cover, exclusions, restrictions etc., reference should be made to the policy document itself, a specimen of which will be supplied on request. Neither the author of this article nor his employers nor principals accept any responsibility for the accuracy or otherwise of anything contained therein.
