Property and Automobile Glass Insurance

Did you know that most property insurance policies apply a deductible in the event of a glass claim?

 

The average cost to replace a living room window is around $640.  Comprehensive Homeowner’s Insurance policies provide coverage to broken or damaged glass, depending on the cause, but the claim is subject to your policy deductible.

 

Reliance Glass has introduced a Residential Glass insurance policy that provides you with replacement cost coverage on the glass of your home.  Policy premiums start as low as $60.00/year and the policy can be purchased for multiple family homes, rented dwellings, and buildings under construction as well.  As well, any claims made do NOT impact your homeowner insurance premiums.

 

 

Did you know that most automobile insurance policies have an endorsement that limits the automobile glass insurance coverage?

 

In Alberta, the majority of automobile insurance policies (that include physical damage coverage) have the SEF 13D Limited Glass Endorsement applied. This endorsement limits glass coverage to Specified Perils only, and includes vandalism coverage to windows other than the front window. This means that if the SEF 13D Endorsement is added to your policy, you would not have coverage for glass damage caused by rocks, chips, and other debris.

 

So why would we, as your Broker, suggest that you limit your glass coverage?

 

By applying the SEF 13D Endorsement to your policy, your Comprehensive premiums are significantly reduced. Most Insurers provide a 50% (or more) discount when this endorsement is added. As well, the minimum Comprehensive deductible on most automobile insurance policies is $250 or $500. In the event of an automobile glass claim, you would be required to pay this amount first.  In many cases, the automobile glass costs less than the deductible to repair or replace.

There are instances when you may still prefer to have glass coverage on your vehicle(s), especially if it is a newer or high end model.  In these cases, we recommend purchasing a specialized Autoglass Insurance policy through AMI Insurance. The cost of a policy with AMI can be as low as $186.00/year or $18.00/month, which is often covered by the savings of limiting the glass under your automobile policy.  The policy provides coverage for the windshield, rear and side windows, and sunroof.  Any claims made do NOT impact your automobile insurance premiums and the policy carries low deductibles ($25.00 for repairs of up to 3 chips at the same time, and $50.00 for glass replacement).

Please do not hesitate to contact us if you have any questions regarding your automobile insurance policy or if you would like to review your current policy coverage.

 

Thank you,

The Costen Insurance Team