Does The Bharat Sookshma Udyam Suraksha Office Package Policy Offer Plate Glass Coverage?

A business enterprise is no stranger to risks. Business owners know they need to take risks to grow their enterprise to new heights. However, business owners should also protect themselves against the type of risks that can disrupt their business and/or their business premises. This is where an MSME insurance plan like the Bharat Sookshma Udyam Suraksha Office Package Policy comes into view. In India, MSME stands for Micro, Small and Medium Enterprises. Thus, an MSME insurance plan protects these kinds of enterprises against events and uncertainties that can cause havoc to their finances.* The Office Package Policy, as the name suggests, provides coverage against events that can disrupt the office premises. Plate glass is an essential component of most modern offices. Does the Bharat Sookshma Udyam Suraksha Office Package Policy cover damages to plate glass? Yes, it does. Let’s learn more about it. Understanding Plate Glass Cover in the Bharat Sookshma Udyam Suraksha Office Package Policy This is how the coverage for plate glass pans out within the scope of this policy- *

1. The insurer shall indemnify the insured for any accidental loss or damage that may occur to plate glass located at the insured premises during the policy period.
2. The insurer will cover the reasonable costs incurred in repairing and reinstating frames and framework that will be necessitated by such loss or damage to plate glass.
3. It is crucial to note that this coverage is subject to a maximum payment limit of ₹5,000 for each and every claim.

Thus, the plate glass coverage in the Bharat Sookshma Udyam Suraksha Office Package Policy is designed to bring financial protection and peace of mind to the insured. Claims are subject to terms and conditions set forth under commercial insurance policy. However, as with all coverages in commercial insurance policies, this coverage too, is subject to certain conditions.

Special Conditions for Plate Glass Coverage 

Following are the special conditions that shall apply to plate glass coverage in this plan: 1. The insurer retains the authority, at its sole and absolute discretion, to opt for repair, replacement, or reinstatement of the lost/damaged plate glass. This is to ensure its restoration to a condition equivalent to that which existed immediately before the insured event. This may be carried out as an alternative to making a monetary payment to the insured. 2. If the insurer chooses to make a payment to the insured, the following conditions shall apply:

1. The payment assessment will be based on the cost of replacing the plate glass with glass of plain and ordinary glazing quality, unless explicitly stated otherwise in the policy schedule.
2. If any plate glass is no longer in production, payment assessment will be decided by referencing the latest available price charged by reputable manufacturers for the same or similar plate glass.
3. The insurer’s liability for payment shall be capped at the sub-limit of the sum insured specified in the policy schedule for each plate glass item, always subject to the main sum insured amount.
4. All plate glass, accepted under a claim in this policy, becomes the property of the insurer. The insured, at their own expense, must take necessary steps to preserve it and eliminate any uninsured items from it.

Additionally, the plate glass coverage is also subject to special exclusions specified in the policy schedule, and general conditions and exclusions. Now that you may know all about plate glass cover in the Bharat Sookshma Udyam Suraksha Office Package Policy, let’s look at its other coverage aspects.

Other Coverage Aspects of Bharat Sookshma Udyam Suraksha Office Package Policy

Here are some more inclusions of the plan -

1. Buildings and contents cover (excluding valuables) *

The policy provides coverage to the building and contents of the insured premises, as per the policy annexure attached to the plan.

2. Burglary and robbery cover, including theft* 

The plan covers loss or damage to contents (excluding money) caused by actual or attempted burglary, robbery, or theft, including damage to the insured premises, and the cost of changing damaged locks due to actual or attempted burglary. Additionally, the policy also covers the loss of money in certain scenarios.

3. Money insurance cover*

The plan covers the loss of money in transit, when carried by the insured or their employees, caused by theft or any other fortuitous event during the policy period.

4. Breakdown of office equipment cover*

Under the plan, the insurer will pay the insured for repair or replacement costs associated with office equipment due to any unforeseen and sudden physical loss (not considering excluded causes). Claims are subject to terms and conditions set forth under commercial insurance policy. All the above coverage points are subject to conditions and exclusions specified in the insurance plan. By opting for this general insurance plan, entrepreneurs can safeguard their small business today, for a brighter tomorrow.   * Standard T&C apply. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.