The policy is designed for buildings with glass doors, windows, glass panels and showcases.
The policy provides indemnity to the insured against loss and/or destruction/damage to glass by accident or misfortune of a fortuitous character. There are options either to replace the broken glass according to description or to pay the sum equivalent to the value of the broken glass at the time of loss, destruction or breakage up to the insurance value. Cover can be arranged for cabinet glass, display signs, fixed glass and glass partitions on premises.
i. Fire risks: risks more traditionally covered under fire policy, such as fire itself, storm and various extra perils associated with fire insurance, are excluded.
ii. Wear and tear: as is customary with “all risks” cover, losses attributable to the effect of time (in this case dilapidation of frames or framework) are excluded, as is scratching without actual breakage of the glass.
iii. “Standard” exclusions: war and associated and nuclear risks.
iv. Consequential loss: loss of business or other expense resulting from the breakage of insured glass is excluded.
Clearly the quality of the glass concerned has an influence on the premium, which is generally based on the area of glass insured.
i. be extended to cover this loss or whether the fire policy should be so extended.
ii. Alternative title: originally, this class of business was known as Plate Glass (since it covers fixed glass installations).