Burglary Insurance : Historical Review **

You should buy burgary insurance. One time the crime was rampant and people are helpless.   Thief,  robbery, riots,   burglary,  vandalism  and  many tipes of  crime always be  a threat to peace and comfort in our lives.  Crime is our common enemy and the war against crime will never stop. You can Minimize the risk of financial losses and property damages due to criminal acts by purchasing policies of fire insurance or home insurance or property all risk insurance and BURGLARY insurance.

And now increasing number of cases of theft and burglary in big cities cause people to do various prevention efforts such as the use of CCTV, alarm systems, maintaining guard dogs and even fortify houses with high fences and closed. However, cases of theft accompanied by violence still occur, causing considerable financial losses. So for now in spite of attempts to protect themselves and their property, they also need insurance to guarrantee the risks, espeially burglary insurance.

If  all security efforts against property deemed inadequate then to meet the security needs, burglary insurance is the solution. this insurance type guarantee risks of Theft and Robbery. But for  closure of  this  insurance is required prior to close fire insurance or PAR insurance. Why should it? Because burglary insurance initially was an extension of the guarantee or endorsement of fire insurance policy.

Brief History

The first company to sell an insurance products that guarantee theft and Robbery was the Property Protection Insurance Company in 1846 and then followed the General Indemnity Insurance Company around 1853. But unfortunately not known how far the development of such products.

In 1897 a Lloyd's underwriter approved the extension of fire insurance coverage by attaching an endorsement that increase the risk of theft and Robbery solely because of the additional course. And further, application for burglary (theft and robbery) collateral was more and more. Finally established the Mercantile Accident and Guarantee Insurance Company of Glasgow. Although the number of policies sold pretty much at that time, 6.364 policy with a premium of 4.638 poudsterling, but within a period of one year later there were big claims so that eventually the company was taken over by the Scottish Alliance Insurance Company.

Before World War I (1914-1918) there was a high crime rate, then after the war ended there was an increase demand for Burglary insurance especially after the emergence of insurance products "Householders Comprehensive" in 1920 which includes theft and robbery guarantees .

Crime rate increase sharply, including demolition of the house for several years after World War II. Burglary insurance was experiencing the most difficult period in its history due to high claims. As a result, insurance rates had increased also related to the expanding additional warranty.

Looking at the historical development of Burglary Insurance that stems from the expansion of fire insurance coverage, so to this day one of the requirements for closing Burglary insurance of property, the building containing the property, must already be secured by the first fire insurance.