Page 353 - Misc Ebook IC 78

Miscellaneous Insurance

type of glass, the situation, previous experience and the
locality of the neighbourhood.

The rate ranges from 5 % to10% of the value of the
glass. In the event of a claim, the amount payable is
restricted to the intrinsic value of the broken glass, of
course up to the amount specified in the policy against
the relevant item. All salvaged glass shall be the property
of the insurers and must be carefully preserved.

The insurers however, have the option either to pay in
cash, the amount of the intrinsic value of the broken
glass, or to make replacement by glass of similar
manufacture and quality. The coverage under the policy
is applicable so long as the glasses fixed.

The insurance cover ceases in any alterations are carried
out to the Premises, or if there is a change in the tenancy
of, occupancy of, or business carried out in the insured
premises. In the case of heavy breakage involving
substantial amount of loss, sometimes an independent
survey is arranged. In case of minor breaking however,

Sashi Publications - www.sashipublications.com 349

Copyright@ The Insurance Times. 09883398055 / 09883380339