What is Plate Glass Insurance?
Plate Glass Insurance is a type of insurance that is there to cover you against any damage or breakage of large panes of glass on your commercial buildings, like shop windows.
In case you were wondering, Plate Glass is a kind of thick and fine quality glass that is used to make window panes, glass doors, screens, and transparent walls.
For many businesses, having lots of glass is really important. Just imagine a shop where you can’t look inside to see what they are selling! But glass is also very fragile and can accidentally get damaged or break suddenly, due to anything from a badly balanced shelf, to kids playing cricket! Unfortunately, getting this plate glass repaired can turn out to be a costly affair.
But if your business is covered by a plate glass insurance, you will be protected against such financial losses.
But, why do you need a Plate Glass Insurance?
What can a Plate Glass Insurance Cover?
When you get a Plate Glass Insurance, you will be covered in case of...
What’s not Covered?
Since we really believe in transparency, here are some situations that won’t be covered...
How much does a Plate Glass insurance cost?
The cost of the premium for your Plate Glass Insurance premium is based on a number of factors. Some of these factors that are used to determine the premium are:
- The sum insured you opt for (i.e., the maximum sum payable as a whole under the policy).
- Where your business is located.
- The number of items covered.
- Type of glass being insured.
Types of Coverage
With Digit’s plate glass insurance, you can opt for a sum insured based on which of the following will suit your business.
Here, the value of the plate glass is fixed as per its cost of replacement on the first day of the Policy Period, or when it was new, with any depreciation due to age, wear and tear deducted.
Also called “Reinstatement Value” this is fixed as per the cost of replacement as on the first day of Policy Period, and no depreciation for age, or wear and tear is taken into consideration.
Advantages of having a Plate Glass Insurance
Who all need a Plate Glass Insurance?
If you or your business establishments have even a bit of plate glass installed, you might find a plate glass insurance is extremely important. For example, if...