How is burglary defined in insurance terminology?

Burglary, in insurance terminology, is specifically defined as the illegal taking of property from a locked building after business hours. This definition emphasizes two critical aspects: first, that the property must be taken from a structure that is secured or locked, which distinguishes burglary from other forms of theft; and second, it occurs after business hours, indicating that the property is unoccupied and not under direct supervision.

This nuanced definition is important in the realm of insurance because it determines the coverage provided under various policies. Insurance companies will typically outline specific conditions under which a burglary is considered valid for claims purposes. For instance, if a theft occurs during business hours or from a location that is not locked, it may not fall under the burglary definition and could lead to different coverage implications.

Understanding this definition aids policyholders in recognizing what is covered under their insurance policies and helps assess risks and necessary coverage features accurately.