Question

Explain the term “Period of Insurance” under Burglary Insurance.

Hint:

Period of Insurance = Valid time during which cover is active — usually 1 year.

Answer 1

The term “Period of Insurance” refers to the duration during which the burglary insurance policy is valid.
This period is mentioned clearly in the policy document and usually runs for 12 months (one year) from the date of inception.
During this period, the insurer agrees to cover any loss or damage due to burglary that occurs within the insured premises.
If a burglary takes place outside this period, the insurer is not liable to pay any claim.
Renewal of the policy must be done on time to ensure continuous protection without any gap in coverage.
Thus, the Period of Insurance defines the exact timeframe when the insurer is responsible for covering burglary-related losses.