Study for Insurance Covers(Australia) Essay Example | Topics and Well Written Essays - 3250 words

Study for Insurance Covers(Australia) - Essay Example Accidental breakage of glass, mirrors etc. will get insurance cover under this policy. For fixed glass that forms part of the building including fixed shower bases, basins, sinks, baths and toilets the insurance cover is available. Mirrors, glassware, crystal, crockery, china (except when being used, cleaned or carried) or glass in furniture (except for glass which forms part of a television or a computer screen/monitor. Items covered for accidental breakage include fixed glass like window tinting or shatter- proofing material attached to the glass on the insured buildings. If we insured the contents, any mirrors, glassware, crystal, crockery or any glass in furniture .Mirrors, glassware, crystal, crockery or china are not covered while they are being used, cleaned or carried by hand. The most the CGS will pay for any one item, pair, set, collection or system is $20000.The contents worth more than $20000 will have to include each as a special content item .To do this the insured must advise the CGS and the items will be listed on the insured’s schedule. For each claim for the building and contents the CGS will reduce the amount they pay for claim by the excess. The amount of excess is shown on the insured’s schedule. The most the CGS will pay for any claim for building or contents is the sum insured shown on the insured’s schedule. In case of additional things this condition is not applied. The cost of rebuilding or repairing the damaged portion of the insured building will be paid by the CGS if the schedule shows â€Å"including replacement benefit.† (Accidental Damage. 2006, p. 53). From the analysis of the terms and conditions of the Essentials Plus home and content insurance policy we can see that Rob’s damaged vessel is included in the term contents in the CGS policy and it is sure that the damage is not caused during