Why is this insurance important and specific?
Every building has large or small glass surfaces, entire walls or roofs made of various glass types, counters of marble or artificial stone, porcelain sets, mirrors and the like. Glass breakage insurance provides indemnity for costs incurred in the replacement and repair of damaged or broken glass.
What is insured?
Subject matter of this insurance comprises:
• All types of glass, neon signs and advertisements
• Paintings, signs and ornaments on insured glass surfaces
• Marble and artificial stone slabs on desks, counters, walls etc.
• Porcelain sinks, toilet bowls
• Street mirrors (for traffic control)
• Cultural and historical monuments and tombstones made of concrete, metal and stone
• Neon and other glow tubes with or without appurtenant equipment
Which risks are covered?
The advantage of this type of insurance is that it provides cover against each and every peril to which the object insured is exposed.
If specially contracted, the indemnity may be provided for damaged paintings, signs and ornaments if caused by the same occurrence as the loss to the insured object, as well as for a damage to or destruction of items from the shop-windows due to the direct impact of the insured object.
What is the agreed insured value?
The insurance is written to the sum insured. The sum insured represents the purchase price of glass, slab etc. and/or the price of making a new painting, sign or decoration on the glass. The sum insured is the maximum indemnity payable in the event of risk occurrence, and can be either expressed as the full value of the insured object or contracted to the amount of possible loss (“first loss”).
What does the premium amount depend on?
The premium amount depends on the type of insured object, kind, thickness and mobility of glass, protection of glass surface against breakage, total sum insured, method and place of installation of neon tubes, signs and advertisements.
What is indemnified in case of loss?
Indemnity is paid to the amount of costs incurred for fixing a new glass and/or another object of the same type and quality, and/or for making a new painting, sign, decoration or letters on the glass surface, not exceeding the agreed sum insured.
Moreover, the indemnity shall cover the reimbursement of costs of temporary glazing, elimination and mitigation of loss and other expenses related to the particular insured object and loss event.
What benefits can you expect?
Depending on the agreed insurance period, method of payment etc., you may be granted a discount on the insurance premium charged by Dunav Insurance.
Should you need any additional information on the Glass Breakage Insurance, please contact our nearest branch, point of sale or a business office by phone.