Burglary and Theft Insurance
THE POLICY
Burglary and Theft insurance covers the property insured against loss or damage as a result of theft or any attempted theft.
WHO NEEDS THIS COVER?
Church organisations and businesses where the Composite Risks Property policy is not well suited, i.e. short term covers such as fetes or special events with high sums insured.
DEDUCTIBLE/EXCESS
A minimum deductible of $500 applies.
LIMITS OF LIABILITY
The limit of liability is the amount shown on the schedule as the sum insured against each item of property insured.
FIRE SERVICE LEVIES and STAMP DUTY
FSL does not apply to this class of insurance. In the states where it is applicable stamp duty calculated at the gazetted rate is added to the premium.
FEATURES and BENEFITS
The policy covers theft of property whilst the property is contained within the premises. The policy also covers:
- The cost of repairing damage caused during a theft or attempted theft.
- The cost of temporary protection for an amount up to $500.
- Cash and negotiable instruments for an amount up to $50.
- Personal property of employees and teaching staff for a maximum of $200 per person.
- The theft of lead, copper or other metals or external fixtures and fittings attached to the premises for an amount up to $200.
- The cost to replace or modify locks in the event of stolen keys, to a maximum of $200.
- The cost of clerical labour and other charges incurred in replacing or restoring business books or records (including computer system records) that were lost or damaged as a result of a theft to an amount of $500.
OPTIONS/EXTENSIONS
The cover can be extended to include Replacement Costs which means:
- Where property is lost as a result of theft, the cost of replacing such property with similar property in a condition as near as practicable to its condition when new.
- Where property is damaged as a result of theft, the cost of repairing such property to a condition as near as practicable to its condition when new.
The policy can also be extended to include automatic reinstatement after a loss which means the sum insured is not reduced by the loss amount.
IMPORTANT POINTS
The policy does not cover:
- Theft by an employee (fidelity policy required) or by students of the insured.
- Loss or damage by fire.
The property is covered whilst within the premises. This does not include any garden, yard, open verandah, open shelter shed, outbuilding or other appurtenances.
TAKING OUT A POLICY
Catholic Church Insurances Limited will assist in obtaining information necessary for providing a quotation and issuing a policy.
In the event of a loss the insured must:
- Give immediate notice to the police and to us.
- Take all practicable steps to discover who is responsible and to recover the stolen property.
- Provide written details to us within 30 days of the loss.
Please note: this information sheet is not intended to replace the policy wording. It is designed for information purposes only and should be read in conjunction with the policy wording. For further information or a full copy of the policy wording please contact Catholic Church Insurances Limited on 1300 655 001.
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