Minggu, 01 September 2013

SUBSIDENCE CLAUSE

This policy included erosion, subsidence, earth movement or collapse resulting there form and section 1 of this policy is extended to include Damage to Property Insured caused by or occasioned through subsidence, earth movement, land-slip, erosion or collapse resulting from any of the foregoing circumstances, but excluding  :
All loss or damage
i)    if signs of subsidence, earth movement, land-slip or erosion were apparent on the site before this insurance commenced.
ii)    Damage arising from coastal erosion, settlement of newly made-up ground or settlement caused by the bedding-down of new structures.
iii)    Damage to paths, paved areas, drives, fences, gates, boundary and retaining walls unless an insured building is damaged by the same event,
iv)    Loss to the extent that compensation is recoverable under legislation.
v)    The lesser of $ 1,000 or 5 % of the cost of reinstatement of the damage, in respect of each claim or series of claims arising out of any one original sources or cause.

OPTION 2
Excluded circumstance 6.2.2 is deleted and section 1 of this policy is extended to include Damage to Property Insured caused by or occasioned through subsidence, earth movement, land-slip, erosion or collapse resulting from any of the foregoing circumstances, but excluding  :
All loss or damage
i)    if signs of subsidence, earth movement, land-slip or erosion were apparent on the site before this insurance commenced.
ii)    Damage arising from coastal erosion, settlement of newly made-up ground or settlement caused by the bedding-down of new structures.
iii)    Damage to paths, paved areas, drives, fences, gates, boundary and retaining walls unless an insured building is damaged by the same event,
iv)    Loss to the extent that compensation is recoverable under legislation.
v)    The lesser of $ 1,000 or 5 % of the cost of reinstatement of the damage, in respect of each claim or series of claims arising out of any one original sources or cause.
Exclusions 6.2.6 and 6.2.9 shall not apply to this extension
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