Know Risk is a community education program designed by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to improve our understanding of insurance and how it relates to managing the many risks we all face in life.
Glass breakage insurance
Covering the cracks in your window pane.
Glass breakage insurance is designed to cover the replacement of — you guessed it — broken glass as a result of burglary, accidental breakage or malicious damage. Some policies also cover the cost of keeping the premises secure while replacement and repair is being carried out.
But isn’t this covered by my burglary insurance policy, we hear you ask? Well, the unfortunate answer to that is usually no, unfortunately, hence why we’re about to start banging on about the ins and outs of glass breakage insurance policies.
Typically purchased as part of a business pack policy, you may be surprised at just how relevant glass breakage insurance might be to your business.
Why is it worth considering?
Well, there are a few good reasons for you not to throw stones at this whole glass insurance idea.
Firstly, damaged glass is actually pretty expensive to replace. But beyond the expense, damaged glass can leave you vulnerable to further concerns. For example, broken or shattered windows and doors at your business premises can leave whatever is inside at risk of theft or vandalism.
Plus, some lease agreements require that the person/company leasing the premises have adequate glass cover in place.
So it just covers glass, then?
Not quite. While the glass in your windows and doors is obviously covered, some other less obvious glass-adjacent things that usually fall under the boundaries of coverage include the following:
- Perspex and plastic signs
- Wash basins
- Illuminated signs
- Glass countertops
Basically, any internal or external glass is pretty much covered.*
*But read your policy carefully because we don’t speak for every insurance company. Actually, we don’t speak for any insurance company — all the more reason to go over any potential policy with a fine-tooth comb!
How do I know if I need it?
If you have read many of these small business insurance articles, then you’ll know that we always answer this question by advising that you speak to someone who knows what they’re talking about. There’s a good reason for that: We aren’t experts on your business, so we can’t tell you what to do.
If anything we discussed above has piqued your interest or given you cause to believe that perhaps acquiring glass breakage insurance would be a smart move for your small business, then we recommend you discuss this with someone who is more of an expert — be they an expert on your business or an expert on insurances for small businesses.
Have a chat to a trusted business adviser or an insurance broker who isn’t affiliated with a particular insurance company, and seek out their advice on whether or not putting a glass breakage insurance policy in place is the right move for you and your business.