Insurance is charged at a premium 5% of the total sum declared.
For example, if you want cover of up to £500, your premium is 5% so it will cost you £10.00.
This policy is subject to the condition of average, that is to say, if the property covered by this insurance shall at the time of loss be of greater value than the sum insured hereby, the Assured shall only be entitled to recover here under such proportion of the said loss as the sum insured by this Policy bears to the total value of the said property.
Where any insured item consists of articles in a pair or set this Policy is not to pay more than the value of any particular part or parts which may be lost without reference to any special value which such article or articles may have as part of such pair or set, nor more than a proportionate part of such pair or set.
Underwriters’ liability is restricted to the reasonable cost of repair and no claim is to attach hereto for depreciation consequent thereon.
Excluding loss of or damage due to mechanical, electrical or electronic derangement unless there is evidence of external damage to the insured item or its packing.
Excluding loss or damage due to moth, vermin, wear, tear and gradual deterioration.
In the event of loss or damage to any part or parts of an insured machine caused by a peril covered by the policy the sum recoverable shall not exceed the cost of replacement or repair of such part or parts plus charges for forwarding and refitting, if incurred, but excluding duty unless the full duty is included in the amount insured, in which case loss, if any, sustained by payment of additional duty shall also be recoverable. Provided always that in no case shall the liability of Underwriters exceed the insured value of the complete machine.
Excluding loss or damage by Climatic or Atmospheric conditions or extremes of temperature.
Excluding breakage, scratching, denting, chipping, staining and tearing of owner packed effects, including trunks, suitcases and the like. Also excluding claims for missing items unless a valued list of contents is supplied by the owner prior to commencement of transit.
Excluding loss of or damage to furs valued over GBP £100.00, or any cash, notes, stamps, deeds, tickets, travelers cheques, jewellery, watches or similar valuable articles.