Contemplating a much needed getaway of the Christmas and New Year’s Holidays but worried about burglaries occurring at your business while you’re away? In this post, we look at burglary/theft insurance and share some tips to help prevent a burglary from happening at your business while you’re away.
What is Burglary/Theft Insurance?
Burglary and Theft Insurance is designed to cover you against loss or damage as a result of theft or any attempted theft. Burglary and Theft Insurance will usually cover theft of property whilst the property is held within the premises. It will also cover damage made to such property during the course of the theft. There’s also insurance that may cover you for the cost of temporary protection; cash and negotiable instruments; personal property of employees; the cost to replace or modify locks in the event of stolen keys; the cost of clerical labour and other charges incurred in replacing or restoring business books or records; and much more.
- Burglaries/thefts can be deterred by having good visibility in the business and on the premises, alarm systems, surveillance cameras, security guards, dogs, and good lighting, and keeping the property in good condition, posting signs, etc.
- Security. Ensure your business premises are fitted with a security alarm system.
- Lighting. Darkness suggests your business is empty. Use timers to light parts inside your offices while you are away to give the appearance someone is there, also so that any movement inside is also visible. Having external lights also provide a good deterrent, especially when they cover all aspects of the building. Install outside lights that stay on overnight at all entry points.
- Lock down. Bolt down any safes so they can’t be carried away; secure all valuable inventory before leaving; make changing security codes and passwords a regular thing (every month) and before you leave.
- Count your keys. Experts advise that records should be kept on key distribution, and that employees should be required to turn in their keys when they leave the business. Having a master key or one key for both outside doors and inside offices is convenient, but makes burglary a simple matter. It's a good idea to code keys so only the employees know which locks they fit.
- Back up. Keep a record of serial numbers for all valuables in a secure location away from the business.
- Stop the press. Nothing screams you’re away like a pile of mail and newspapers outside of your business. Have the mail and paper stopped while you’re away so burglars don’t know you’re out of town.
- Notify your neighbours. Letting a trusted neighbour know when you will be gone will give your business extra protection and allow them to inform you if anything suspicious happens.
- Robberies are usually planned in advance. Don’t count money in front of non-employees, even if the person is a friend of a relative or an employee.
- Cash on hand. Make deposits daily or more often if cash exceeds a predetermined amount. Never keep more money in cash drawers than necessary.
DISCLAIMER: This blog is intended for the provision of general insurance related information only. In this instance we only provide “general advice”. You need to consider the appropriateness of any information or general advice that we give you, having regard to your personal situation, before acting on our advice or buying any product.