Plate Glass Insurance is a property insurance policy that covers accidental breakage or damage to plate glass fixtures due to any accidental event that is not specifically excluded in the policy schedule.
Plate glass is a thick high-quality glass that is used by various businesses for their window displays, walls, doors, sign boards, and other purposes. Establishments like commercial buildings, offices, showrooms, etc. regularly use it as part of their building structure.
Plate glass comes in many variants and is rather expensive. And because of their fragility, they are highly prone to breaking by any random act of violence or unintended accident.
Most corporate office buildings have complete glass facades covering most of their interiors. In addition to the glass facades, a typical office set up also has numerous other glass settings such as cubicle partitions, cabin doors, decorative glass structures, table tops, etc. Therefore, Plate Glass Insurance becomes essential for businesses that utilise these structures in their premises.
Plate Glass Insurance covers the intrinsic value of glass, i.e., its reinstatement value after deducting depreciation. ‘Plate Glass’ in the policy would normally refer to fixed plain glass used in work cubicles, glass doors, table tops, glass partitions etc. within the business premises excluding painting, tinting, ornamental work on the glass specified in the policy schedule and included in the Sum Insured. It also includes frames and framework provided it is expressly stated in the schedule.
A Plate Glass Insurance policy will indemnify the insured in relation to the following :
- Accidental loss or damage to plate glass within the insured premises
- Labour expenses incurred for the replacement for damaged plate glass
The following covers are automatically provided by this policy without any need for payment of additional premium upto a specified limit :
- Cost of replacement of the burglar alarm tape or wiring affixed to the broken plate glass
- Replacing damaged window frames, but with due allowance for wear and tear
The following additional cover can be added to the policy on payment of extra premium (this risk is excluded from coverage by default unless specifically opted for) :
- Loss due to riots, strikes, malicious damage (RSMD) or terrorism
Plate Glass Insurance does not offer coverage for the following :
- Breakage or damage arising out of fire, explosion, gas or heat
- Breakage or damage due to earthquake, volcanic eruption, Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation (STFI risks), and other natural disasters
- Cracked, scratched or imperfect plate glass
- Breakage or damage during removal, alteration or repairs in or around the insured premises
- Damage to lettering or design or designed films enclosed over the glass
- Breakage of glass that is not completely and securely fixed
- Damage to frames or frameworks, silver letters, embossed or ornamental glass frames, etc. unless these are specifically mentioned in the policy
- Damage to any plate glass which is different from the plain and ordinary plate glass of glazing quality unless stated in the policy schedule
- Loss or damage due to an order of a public authority or cost of compliance with laws, regulations, etc.
- Deductible excess which is stated in the schedule of the insurance policy
- Consequential loss of property, legal liability or personal injury
- War and nuclear related perils
In summary, if your business extensively makes use of plate glass in its building structure, and you’re already purchasing a Fire and Allied Perils Insurance, it is advisable to also add Plate Glass Insurance to your insurance program. You can then rest in confidence that the most delicate part of your property is covered.