Storekeeper's Burglary and Robbery Insurance
Definition - What does Storekeeper's Burglary and Robbery Insurance mean?
Storekeeper's robbery and burglary insurance is a package of insurance coverages wrapped into one policy providing protection to the storekeeper for losses and damages to assets and properties caused by several criminal hazards. These hazards include robbery inside and outside the business premises, kidnapping, safe burglary, theft, forcible taking of an insured's property, and damages to the premises and any property owned by the insured.
Insuranceopedia explains Storekeeper's Burglary and Robbery Insurance
Storekeeper's burglary and robbery insurance pays for losses caused by these various hazards, provided that the losses are not caused by the fraudulent or dishonest acts of the owner or his authorized representative. For example, this policy will pay loss of money by robbery inside the premises and while the money is in the possession of the insured. In addition, the policy will pay for damages to the premises provided that the damages are caused by the hazards stated in the policy. The policy will not compensate for property damages caused by fire.