With break-ins on the rise, businesses are being caught out by missing cover and missing paperwork. Ensuring your policy includes Theft and Money Cover, and keeping receipts, inventories and photos of valuable items, can significantly improve claim outcomes.
Our claims team at Midland has seen a rise in break-in claims recently – a reminder that theft and vandalism can affect any business, any time.
While insurance is there to help you recover, the outcome of a claim often hinges on two things: having the right cover in place and being able to prove ownership of what’s been stolen or damaged.
1) Do you have the right cover?
We recently handled a commercial claim where cash was stolen during a break-in. The policy didn’t include Money Cover - the section that protects cash on premises or in transit - so the loss wasn’t insured.
Not every policy automatically includes every theft-related risk. Optional covers like Money, Theft/Burglary, Glass, and Business Interruption should be selected to suit your business.
Did You Know
In 2023–24, 2.1% of Australian households (≈217,600) experienced a break-in or attempted break-in - a useful reminder that property crime risk remains persistent for homes and businesses.
2) Keep proof of ownership
A frequent roadblock in theft claims is lack of documentation. Without proof an item existed, was owned by the business, and what it’s worth, claims can be delayed or reduced.
To ensure your claim progresses smoothly:
- Keep receipts/invoices for valuable items (equipment, plant, stock, electronics).
- Maintain a simple inventory list with serial numbers/model details, purchase dates and values.
- Take photos/video of your premises and equipment.
- Store digital copies securely in the cloud or with your accountant.
Having this evidence helps the insurer validate your claim quickly.
A quick chat with your broker can reveal gaps and make sure your policy reflects the real risks you face.
3) A quick check-up could save you thousands
If it’s been more than a year since your last insurance review, now’s a good time. Our brokers can confirm you’ve got Theft/Burglary and Money Cover in place and that sums insured reflect current replacement values.
Quick checklist
✅ Confirm Theft/Burglary and Money Cover are included
✅ Review sub-limits (especially cash) and security requirements
✅ Update sums insured to current replacement cost
✅ Keep receipts/invoices and an asset register (serials/models, purchase dates)
✅ Take photos/videos of key items and storage areas; back up records off-site/cloud
✅ After an incident: contact the police and obtain a police report / event number. Then contact your broker and supply receipts, serials, photos.
Need a fast cover check?
A quick insurance check-up can make a big difference after a break-in. Our brokers can review your cover to ensure Theft, Money and key business risks are properly protected, and that your sums insured reflect true replacement values.
If you have claims-related questions or need guidance after an incident, our in-house claims team is here to help - claims@midlandinsurance.com.au, or 1300 306 571.
Written By Seam Ung
Senior Claims Officer
Seam has 14 years of experience handling claims for Australian small businesses, specialising in property and liability insurance.
Sources
- Australian Bureau of Statistics (ABS)
- Business.gov.au (Australian Government)
- Australian small business insurer claims insights (e.g. QBE Insurance Group) - SME claims category breakdowns
- General Insurance Code of Practice / Insurance Brokers Code of Practice
With break-ins on the rise, businesses are being caught out by missing cover and missing paperwork. Ensuring your policy includes Theft and Money Cover, and keeping receipts, inventories and photos of valuable items, can significantly improve claim outcomes.
Our claims team at Midland has seen a rise in break-in claims recently – a reminder that theft and vandalism can affect any business, any time.
While insurance is there to help you recover, the outcome of a claim often hinges on two things: having the right cover in place and being able to prove ownership of what’s been stolen or damaged.
1) Do you have the right cover?
We recently handled a commercial claim where cash was stolen during a break-in. The policy didn’t include Money Cover - the section that protects cash on premises or in transit - so the loss wasn’t insured.
Not every policy automatically includes every theft-related risk. Optional covers like Money, Theft/Burglary, Glass, and Business Interruption should be selected to suit your business.
Did You Know
In 2023–24, 2.1% of Australian households (≈217,600) experienced a break-in or attempted break-in - a useful reminder that property crime risk remains persistent for homes and businesses.
2) Keep proof of ownership
A frequent roadblock in theft claims is lack of documentation. Without proof an item existed, was owned by the business, and what it’s worth, claims can be delayed or reduced.
To ensure your claim progresses smoothly:
- Keep receipts/invoices for valuable items (equipment, plant, stock, electronics).
- Maintain a simple inventory list with serial numbers/model details, purchase dates and values.
- Take photos/video of your premises and equipment.
- Store digital copies securely in the cloud or with your accountant.
Having this evidence helps the insurer validate your claim quickly.
A quick chat with your broker can reveal gaps and make sure your policy reflects the real risks you face.
3) A quick check-up could save you thousands
If it’s been more than a year since your last insurance review, now’s a good time. Our brokers can confirm you’ve got Theft/Burglary and Money Cover in place and that sums insured reflect current replacement values.
Quick checklist
✅ Confirm Theft/Burglary and Money Cover are included
✅ Review sub-limits (especially cash) and security requirements
✅ Update sums insured to current replacement cost
✅ Keep receipts/invoices and an asset register (serials/models, purchase dates)
✅ Take photos/videos of key items and storage areas; back up records off-site/cloud
✅ After an incident: contact the police and obtain a police report / event number. Then contact your broker and supply receipts, serials, photos.
Need a fast cover check?
A quick insurance check-up can make a big difference after a break-in. Our brokers can review your cover to ensure Theft, Money and key business risks are properly protected, and that your sums insured reflect true replacement values.
If you have claims-related questions or need guidance after an incident, our in-house claims team is here to help - claims@midlandinsurance.com.au, or 1300 306 571.
Written By Seam Ung
Senior Claims Officer
Seam has 14 years of experience handling claims for Australian small businesses, specialising in property and liability insurance.
Sources
- Australian Bureau of Statistics (ABS)
- Business.gov.au (Australian Government)
- Australian small business insurer claims insights (e.g. QBE Insurance Group) - SME claims category breakdowns
- General Insurance Code of Practice / Insurance Brokers Code of Practice
