From showrooms, window displays to offices and more – glass is expensive and fragile.
It can be shattered by a random act of violence / riots and more. The Plate Glass
Insurance from HDFC ERGO covers accidental breakage of glass whilst situated at
the Insured's premises from any cause other than those specifically excluded in
the Policy.
The policy is ideally suited for all business establishments that have plate glass
installed to enhance their visual and aesthetic appeal like showrooms, shopping
complexes, restaurants, hotels, theatres, stadiums, etc.
All Risks which fall under the category of fortuitous or accidental.
- Intrinsic Value of Glass: means its Reinstatement Value less depreciation.
- Glass: Glass means fixed plain glass and mirrors in or on the premises
of the Insured where such glass is situated, excluding painting, tinting, embossing
or ornamental works on the Glass unless expressly stated in the Schedule and its
value included in the Sum Insured. Glass shall also include frames and framework
provided it is expressly stated in the Schedule and its value included in the Sum
Insured.
- Reinstatement Value: means the cost of replacing or reinstating
Glass of the same kind or type but not superior to or more expensive than the Glass
when insured.
- Sum Insured: means Sum Insured as mentioned in the policy schedule
which is the maximum sum payable as a whole under the policy during the policy period
for all the insured perils. Sum Insured shall be on Reinstatement Value basis.
- Deductible Excess stated in the Schedule to the policy
- Breakage or damage during removal, alterations and/or repairs in or about the premises
- Disfiguration or scratching or damage of Glass other than by way of a fracture extending
through the entire thickness of Glass
- Breakage of Glass, which is not completely and securely fixed
- Cracked or imperfect Glass
- Expenses incurred for removal or replacement of any fittings or fixtures in order
to replace Glass
- Any loss or damage arising from the interruption of or delay in the Insured's business
during the time intervening between occurrence of any breakage and reinstatement
of such Glass
- Terrorism