Examples of Insured Goods in a sentence
Please tell Us as soon as possible of any changes to: • the method of transporting or packing the Insured Goods; • the place of storage, pick up or destination addresses; • the people who are Covered under this Policy.
If Insured Goods are totally lost, Policyholder shall contact the Assured.
Subject to the terms of this Policy, the Assured is covered in the event of loss of or Damage to the Insured Goods whilst in transit to the destination shown on the Certificate during the Period of Insurance.
Where it is not possible to repair the Damage to the Insured Goods, including the actual loss of the Insured Goods, Underwriters will cover the actual cost of replacement of the Damaged Insured Goods or the reasonable purchase costs of a substitute up to the declared value of the Damaged or lost Insured Goods as described in the Packing List.Where it is reasonable to do so, Underwriters will pay the amount of the additional costs which are actually incurred, and which are described below.
In addition to the repair or replacement of Insured Goods subject to the terms of this Policy, Underwriters will act on Assureds behalf and will pay in full, any costs and expenses incurred in order to minimise delay to the delivery of Insured Goods, in circumstances where the vessel is arrested or detained, or the voyage is abandoned or as a result of a declaration of "General Average" or which Underwriters have to make a contribution to salvage charges.
Assureds must notify the claim within one (1) month of the delivery of Insured Goods to the destination shown on the Certificate.
In addition to the repair or replacement of Insured Goods subject to the terms of this Policy, Underwriters will act on the Assureds behalf and will pay in full, any costs and expenses incurred in order to minimise delay to the delivery of Insured Goods, in circumstances where Insured Goods are delivered to a port or place other than to the port or place which is the destination described in the Certificate.
However, We will reduce any payment We make by an amount equal to the salvage value of any undamaged or repairable Insured Goods.
Other than in respect of War Risks which is described in paragraph 3.2.1 below, the cover under the Policy commences from the time the Insured Goods are collected by the Policyholder at the Assureds residence.
Where it is not possible to replace the Damaged or lost part(s) of the Insured Goods or to purchase a substitute, Underwriters will pay the declared value of the Damaged or lost part(s) of the Insured Goods as described in the Packing List plus the reasonable cost of a certificate of irreparability where the declared value of the Damaged or lost part(s) of the Insured Goods is reasonable.