Rabu, 01 Mei 2013

Construction / erection machinery

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, the cover under Section I of the Policy shall be extended to include loss of or damage to the construction/erection machinery mentioned in the attached list of machinery, excluding however

  1. loss or damage due to electrical or mechanical breakdown, failure, breakage or derangement, freezing of coolant or other fluid, defective lubrication or lack of oil or coolant, but if as a consequence of such breakdown or derangement an accident occurs causing external damage, such consequential damage shall be indemnifiable,
  2. loss of or damage to vehicles licensed for general road use or waterborne vessels or aircraft.

The sums insured on construction/erection machinery shall be their replacement values, which shall mean the cost of replacement of each insured item by a new item of the same kind and the same capacity.
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