Investing in burglary insurance

Burglary on the rise in the CNMI

There have been a number of burglary incidents reported in recent months. Homeowners have reported losing a range of valuable assets including laptops and electronics. The more common reported cases of theft relates to copper wire. During an economic recession, the surge of burglary and other theft cases should come as no surprise.

Protecting your home

You do not want to gamble losing your most valued possessions from theft. You are not able to control outside parties from breaking into your home, but you can minimize your loss by having insurance. If you own a business, you may inquire about burglary insurance for your business establishment.

Review your existing insurance policy

If you currently have a homeowner’s policy, the most basic step to take in finding out if you are covered from burglary is to review it. Since most insurance companies do not automatically include burglary insurance in a homeowner’s policy, inquire if their burglary insurance covers both contents and property. Before pursuing such coverage, fully understand all policy conditions to ensure that you will have adequate protection.

If you do not already have burglary insurance, set an appointment with an insurance agent from a reputable company to fully understand the risks involved by not having one.

Including burglary insurance in your homeowners policy

You stand to save some money by including burglary insurance in your homeowner’s policy instead of having it separate. If you do not own a homeowner’s policy, you may inquire two proposals: a homeowner’s policy with burglary coverage and one for burglary insurance alone. Take time to compare the difference between both options to see which will suit your needs. If you will be receiving proposals from more than one insurance company, compare the details of each policy before committing.

Deterrent from theft

Insurance is only a way to reduce financial losses in the event of a burglary. It is advisable to consider preventive methods to reduce the risks. Taking steps such as installing a security alarm system, building a fence wall, and having a watchdog when you are away from home can reduce the chances of theft. Such steps will not reduce your insurance premium, but it may enhance security and protection. (Pacifica Insurance)

For more information on investing in burglary insurance, call Pacifica Insurance Underwriters, Inc. at 234-6267 or visit their office located at Joeten Center in Susupe. You may also visit www.pacificains.com or send an inquiry via email to piui@pacificains.com. Pacifica Insurance Underwriters, Inc. is a general agent for Century Insurance and Tokio Marine Pacific Insurance Limited.