Burglary Insurance

Coverage against loss as the result of a burglary. Found as part of the commercial package policy that has generally replaced the special multiperil insurance (smp) policy and the MERCANTILE OPEN STOCK BURGLARY INSURANCE policy. Covers loss of merchandise, furniture, equipment, fixtures due to force and violence to the exterior of a business's premises in order to gain entry, and damage to the premises of the business as the result of the burglary. There is a coinsurance requirement that ranges from 40 to 80%.