Inspection of damage. The insurer has the right to have the damage inspected. Therefore, we ask you to keep the property until the damage is settled.
Inspection of damage. The insurer is entitled to have the loss inspected. We therefore ask you to keep the property until the claim is settled unless otherwise notified.
Inspection of damage. The insured shall permit the insurer at all reasonable times to inspect the watercraft and its’ equipment. We reserve the right to inspect the insured property prior to any repairs being authorized. We agree to indemnify the insured named in the declaration and pay all necessary and reasonable costs to repair the insured property for loss or damage covered by this policy. Our liability in the event of a loss will be the least of the following: Actual cash value of the property at the time of loss, destruction or damage or; The interest of the insured in the property or; The applicable limit of insurance on the declaration page(s) for each item, subject to any pro rata division for the specified policy period and subject always to the condition that we are liable only under the section(s) or coverage(s) as indicated on each item as scheduled on the declaration page(s) of this policy.
Inspection of damage. The insurer has the right to have the damage inspected, therefore Xxxxxxx asks that the insured or the policyholder keeps the property/good until the damage is settled.
Inspection of damage. The insured shall permit the insurer at all reasonable times to inspect the watercraft and its’ equipment. We reserve the right to inspect the insured property prior to any repairs being authorized. BASIS OF CLAIM PAYMENT SECTION A We agree to indemnify the insured named in the declaration and pay all necessary and reasonable costs to repair the insured property for loss or damage covered by this policy. Our liability in the event of a loss will be the least of the following: Actual cash value of the property at the time of loss, destruction or damage or; The interest of the insured in the property or; The applicable limit of insurance on the declaration page(s) for each item, subject to any pro rata division for the specified policy period and subject always to the condition that we are liable only under the section(s) or coverage(s) as indicated on each item as scheduled on the declaration page(s) of this policy. Waiver of depreciation on Partial Losses In the event of an insured partial loss;
i. On property or items of less than 12 years of age; and
ii. Where the applicable limit of insurance is equal to a minimum of 90% of the actual cash value of the property or item sustaining the loss We agree to pay: All necessary and reasonable costs to repair the damage or replace the lost property without deduction for depreciation. If the total costs of the repairs or item replacement exceed the actual cash value of the complete watercraft, our liability will not exceed the limits as outlined in original basis of claim payment section A above. All sails, protective canvass covers or other similar materials which are three years old or less will be settled on the basis of full replacement cost with no depreciation, otherwise any claim shall be settled on the basis of actual cash value. For “tenders/dinghy(s)” and auxiliary outboard motors less than five (5) years of age, full replacement cost subject to policy limitations will apply. For all “tenders” and auxiliary outboard motors five years and older, claims will be settled on an actual cash value basis, with proper deduction for depreciation and under no circumstances will our liability exceed the declared amount. Under no circumstances will our liability exceed the amount indicated on the Declaration Page. We reserve the right to repair or replace the watercraft with materials of similar kind and quality. Repair Clause We reserve the right to repair or replace the vessel or any part thereof. Repairs may be ma...
