Examples of Common Contents in a sentence
SCENARIO 7Section 3 — Theft• Theft of Common Contents – garden equipment.
Total Loss Building and Common Contents$10,000,000Amount paid by Us to builder (including GST)$10,000,000Loss Of Rent claim$1,500,000Less Policy Excess$500Amount Paid to Insured for Loss Of Rent$1,499,500TOTAL SETTLEMENT AMOUNT$11,499,500The Sum Insured for Building and Common Contents is not reinstated as there is a total loss.
We will pay Common Contents up to a maximum of 1% of the Sum Insured or any other amount shown in the Policy Schedule whichever is the greater.
Storm Surge – but We will pay for loss, destruction or damage if Storm Surge occurs at the same time as the insured loss of or destruction of or damage to your Building and Common Contents caused by a named tropical cyclone and the cyclone is deemed to be the proximate or operative cause.
We will pay the reasonable cost to repair, reinstate or replace an electrical motor not exceeding 5 kilowatts, that forms part of the Buildings or Common Contents, burnt out by electric current in the Period of Insurance.
Storm Surge – but if Storm Surge is caused by and immediately follows a named tropical cyclone, We will pay for loss, destruction or damage to Your Building and Common Contents as a result of Storm Surge.
This exclusion does not apply to Section 1 – Buildings and Common Contents, Section 2 – Glass, Section 3 – Theft, Section 5 – Fidelity Guarantee, Section 7 – Voluntary Workers, Section 8 – Government Audit Costs, Section 9 – Legal Expenses, Section 10 – Workplace, Health & Safety Breaches, Section 11 – Machinery Breakdown, Section 12 – Lot Owner’s Improvements or Section 13 – Workers’ Compensation.
Repairs to Glass — You have paid for the repairs$4,500Temporary Protection — You have paid for this cost$500Subtotal$5,000Less GST$0.00Less Policy Excess$250TOTAL SETTLEMENT AMOUNT$4,750We will automatically reinstate the Sum Insured and additional benefits for section 1.SCENARIO 6Section 3 — Theft• Theft of Common Contents – garden equipment.
We will not pay any amount under this Additional Benefit until the relevant Sum Insured or other applicable limits shown next to Buildings and Common Contents under this Section 1 as shown in the Schedule has been exhausted.
We will also pay the above reasonable removal & storage costs for undamaged Common Contents owned by You.