Insurance News in Nigeria

More information about burglary insurance


Theft and Burglary Insurance Cost Information
Burglary and home break-ins involving thefts are generally covered under a Burglary insurance policy and can sometimes be included in a house owners policy, although how much coverage is obtained is widely variable, depending on how much you are willing to pay-like everything else in this world, money is key. Basic coverage will only cover the basics, obviously, and although this is more economical for the short term, should you be the victim of a theft, the overall burglary insurance cost won‘t be what matters. What does matter is that your things are gone, and you can’t replace them with basic insurance. “You get what you pay for.”
Location is Key
As discussed, burglary insurance can be part of homeowner‘s insurance, which covers personal property. For a basic homeowner’s policy, with a limited amount of personal property coverage. In Nigeria the prices are almost the same irrespective of where you live. Most times, People in rural areas or those with low median crime rates will enjoy lower premiums, whereas those who live in more urban or high-crime neighbourhoods will have to pay higher rates. Bear in mind, this isn’t often, it solely depends on the insurance company.
Helpful Tips to Lower Premiums
There are specific things which can be done to lower burglary insurance premiums, mainly things which increase the property’s safety and makes burglary harder to accomplish. One big help would be to install new doors with deadbolts, as well as locking security windows. Adding an alarm system can lower the risk of burglary by as much as 40%. Also, residing in areas with neighborhood watch programs will help. Other security features, like anti-theft bars and windows and gates, and safes for valuables, bring discounts on home insurance in general, which lowers the overall cost of burglary insurance.

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