Insurance for Plate Glass: Coverage, Claim, & Exclusions

In the fitness industry, it’s never a good idea for professionals and operators to leave things to chance, especially when it comes to their facility. Fortunately, gym insurance is available to provide fitness professionals with protection and peace of mind for their business endeavors. Because the possibilities are endless and the path to success is paved with risks, it’s more important than ever for professionals to vet their options and choose insurance that covers what they need without the burden, inconvenience, or extra expense of coverage they don't.

Finding the right insurance coverage means taking into account the many things that could go wrong and how they may impact the gym’s operations. Sadly, many professionals overlook their facility’s windows, storefront, glass fixtures, and plate glass. All it takes is extreme weather, someone accidentally throwing a weight through a window, or an incident that damages the plate glass inside the building to cost issues that result in unexpected operation impairments, repairs, and quite possibly medical expenses. 

When it comes to insuring a gym or fitness business, it’s important to consider every possible angle, including plate glass insurance. Here’s what fitness professionals need to know about insurance for plate glass, coverage, claims, and exclusions. 

1. What Is Plate Glass Insurance?

2. Types of Plate Glass Insurance

3. What Does Plate Glass Insurance Cover?

4. How Does Plate Glass Insurance Work?

5. The Advantages of Buying Plate Glass Insurance
   
   

What Is Plate Glass Insurance?

Plate glass insurance offers protection against accidental glass damage and breakage. Glass damage and breakage are among the most common reasons for repairs and insurance claims. Repairs are expensive, and in many cases, when they involve the storefront or large panes of glass in the gym, it’s enough to shut down the facility or the affected section until repairs are complete and everything is safe and secure to resume operations. 

Types of Plate Glass Insurance

Plate glass insurance applies to glass walls, screens, doors, window panes, and storefronts. There are different types of plate glass insurance coverage for gym operators to consider: intrinsic glass value, fixed glass, and replacement or reinstatement value.

Reinstatement or replacement value plate glass insurance covers the replacement cost. Coverage generally starts on the first effective day of the policy. It only covers the fixed replacement cost of the glass. It does not take into account depreciation from age or wear and tear.

Intrinsic value covers the fixed replacement from the first day of coverage cost minus depreciation for age, wear and tear. Coverage starts on the first day of the policy.

Fixed glass value applies to glass fixtures, mirrors, and certain fittings inside of the fitness building. Glass painting, tints, novelty, and ornamental items are not covered. However, policyholders can have their insurer include them in their coverage by calculating the sum assured. 

What Does Plate Glass Insurance Cover?

Plate glass repairs and replacement costs are nothing to gloss over. Without proper plate glass insurance, these expenses are often higher than expected and quite difficult for facility operators to manage. Gym and fitness facility owners and operators who have plate glass insurance enjoy the following benefits.

• Expenses for lost or damaged plate glass

• Costs for temporary provisions (boarding) used in place of damaged plate glass

• Replacement expenses for window frames for maintenance or replacement due to wear and tear

• Replacement costs for expenses related to protective film or coating on damaged plate glass 

• Expenses related to ornamentation, signage, lettering, and design on damaged glass

• Costs related to security wiring or tape replacement for damaged plate glass

• Replacement expenses due to certain criminal or malicious activities

It’s important to note that plate glass insurance only covers glass within the insured facility. It does not apply to events or off-site. Also, exclusions and additional coverage options vary among insurers.

How Does Plate Glass Insurance Work?

Plate glass insurance is pretty straightforward. Fitness professionals submit an application detailing the different plate glass items they want to cover. The insurer verifies their insurability and their glass items. The insurer then decides premium costs and sum coverage. Applicants then review the policies, accept and pay their first premium, activating their policy. The coverage becomes effective on the first day of the policy term. If a covered glass item is broken or damaged, clients can file a claim for compensation with their insurer. The insurer evaluates and verifies the claim before approving or denying it. Approved claim payments are disbursed to the client.

Advantages of Buying Plate Glass Insurance

In the fitness industry, one of the best pieces of advice to be had is to never make assumptions, especially when it comes to gyms and fitness centers. These are places where trainers and members push the limits of their reality every day. Unfortunately, that means having to deal with mounting financial losses due to accidents, liabilities, and broken glass issues is alarmingly high.

Fitness professionals can mitigate these concerns with plate glass insurance and gym insurance. Plate glass insurance is designed with the facility owner/manager in mind. It offers additional financial protection against glass damage, repairs, and replacement.

Key Takeaways

Plate glass insurance is essential for fitness professionals and facility owners who are determined to win big with minimal costs and liabilities. The extra layers of protection that gym insurance with plate glass coverage provides are invaluable. Not only do clients win by providing members with the ultimate facility and experience, but they also gain savings and peace of mind from having a good gym policy with plate glass insurance that works best for their situation.

To learn more about our plate glass insurance and other gym insurance products, contact NEXO at