04. Gifts Coverage
You and the Honoree have this coverage only if a limit of insurance is shown for it on the Declarations page. We cover Gifts against physical loss or damage that results during the Policy Period, from a cause of loss not excluded while the Gifts are within the Policy Territory.
a. What We Will Pay Under Gifts Coverage
We will pay the full cost to repair or replace the lost or damaged property, without deduction for depreciation. The most we will pay for any lost or damaged item shall not exceed the lesser of:
(01) the cost of a new item identical to the one damaged or destroyed; or
(02) when an identical item is no longer manufactured or is not available, a new item of comparable quality and usefulness; or
(03) 10 percent of the total limit for Gifts.
b. Exclusions-What We Do Not Cover Under Gifts Coverage
(01)Breakage Or Scratching
We do not cover via wedding day insurance loss or damage by breakage, marring or scratching of Gifts that are statuary, marble, glass, china, porcelains, furniture or other fragile items. But this does not apply if the damage is the direct result of:
(a) fire, explosion or smoke;
(b) lightning, windstorm, hail, earthquake or flood;
(c) aircraft, spacecraft, self-propelled missiles, or objects that fall from any of these;
(d) vehicles of any kind;
(e) strikes, riots, civil commotion or vandalism;
(f) theft or attempted theft which is reported to the wedding insurance policy within 24 hours of the discovery;
(g) sprinkler leakage; or
(h) collapse of buildings.
(02) Electrical Current
We do not cover loss or damage to Gifts that are electrical devices (including their wiring or electronic circuitry) caused by electrical current, other than lightning, unless fire or explosion results.
(03) Mechanical Breakdown
We do not cover loss or damage to Gifts caused by breakdown or failure, unless a fire or explosion results.
(04) Nuclear Action Or War
We do not cover loss or damage to Gifts caused by Nuclear Action or War.
(05) Ordinary Causes
We do not cover loss or damage to Gifts caused by:
(a) wear or tear, gradual deterioration or inherent vice;
(b) insects, moths or vermin; or
(c) wetness or dryness of atmosphere, freezing or extremes of temperature.
(06) Repair Of Fine Arts
This wedding insurance policy does not cover loss or damage to Gifts that are fine arts caused by any repair, restoration or retouching process.
(07) Repair Processes
We do not cover loss or damage to Gifts caused by any process to repair, adjust, service or maintain the property unless a fire or explosion results.
(08) Theft From An Unattended Vehicle
We do not cover loss or damage to Gifts caused by theft from an unattended vehicle. But this does not apply if at the time of the loss:
(a) the Gifts were contained in a fully enclosed, locked and secured body or compartment of the vehicle; and
(b) the vehicle had an audible alarm which was fully operational and “armed”; and
(c) there are visible signs of forced entry requiring repair to the vehicle; and
(d) the theft is reported to the police within 24 hours of the discovery.
05. Rented Property Coverage
You and the Honoree have this coverage only if a limit of insurance is shown for it on the Declarations page. This wedding insurance policy will cover Rented Property against physical loss or damage that results during the Policy Period from a cause of loss not excluded while the Rented Property is within the Policy Territory and in the care, custody or control of you or the Honoree.
a. What We Will Pay Under Rented Property Coverage
We will pay the cost to repair or replace the lost or damaged Rented Property. The most we will pay for any lost or damaged item shall not exceed the actual cash value of the item at the time of loss.
b. Exclusions-What We Do Not Cover Under Rented Property Coverage
(01) Delay Or Loss Of Market
We do not cover loss or damage to Rented Property caused by delay, loss of market, loss of use, or interruption of business.
(02) Dishonesty
We do not cover via wedding venue insurance loss or damage to Rented Property caused by any dishonest act committed at any time by;
(a) you;
(b) the Honoree;
(c) any person in the employ or service of you or the Honoree; or
(d) any person, other than carriers for hire, to whom the Rented Property was entrusted.
(03) High Valued Items
We do not cover loss or damage to any item of Rented Property with an actual cash value of $1,000 or more unless that item is specifically scheduled on this policy.
(04) Mechanical/Electrical Breakdown
We do not cover loss or damage to Rented Property caused by mechanical or electrical breakdown or failure, unless a fire or explosion results.
(05) Mysterious Disappearance
We do not cover loss or damage to Rented Property caused by unexplained loss, mysterious disappearance, or shortage disclosed upon taking inventory.
(06) Neglect Of Insured
We do not cover loss or damage to Rented Property that results because you or the Honoree fail to exercise ordinary care in protecting the Rented Property from loss.
(07) Nuclear Action Or War
We do not cover loss or damage to Rented Property caused by Nuclear Action or War.
(08) Ordinary Causes
We do not cover loss or damage to Rented Property caused by:
(a) wear or tear, gradual deterioration or inherent vice;
(b) insects, moths or vermin; or
(c) wetness or dryness of atmosphere, freezing or extremes of temperature.
(09) Theft From An Unattended Vehicle
We do not cover loss or damage to Rented Property caused by theft from an unattended vehicle. But this does not apply to the wedding insurance coverage if at the time of the loss:
(a) where applicable, the Rented Property was contained in a fully enclosed, locked and secured body or compartment of the vehicle; and
(b) where applicable, the vehicle had an audible alarm which was fully operational and “armed”; and
(c) where applicable, there are visible signs of forced entry requiring repair to the vehicle; and
(d) the theft is reported to the police within 24 hours of the discovery.
06. Special Attire Coverage
You and the Honoree have this coverage only if a limit of insurance is shown for it on the Declarations page. We cover Special Attire against physical loss or damage that results during the Policy Period by a cause of loss not excluded while the Special Attire is within the Policy Territory.
a. What We Will Pay Under Special Attire Coverage
We will pay the full cost to repair or replace the lost or damaged Special Attire, without deduction for depreciation. The most the wedding insurance will pay for any lost or damaged item shall not exceed:
(01) the cost of a new item identical to the one damaged or destroyed; or
(02) when an identical item is no longer manufactured or is not available, a new item of comparable quality and usefulness.
b. Exclusions-What We do Not Cover Under Special Attire Coverage
(01) Nuclear Action Or War
We do not cover loss or damage to Special Attire caused by Nuclear Action or War.
(02) Ordinary Causes
We do not cover loss or damage to Special Attire caused by atmospheric or climatic conditions, alterations, process
or cleaning, restoration, repair, moth, vermin, wear or tear, gradual deterioration or inherent vice.
(03) Theft From An Unattended Vehicle
We do not cover loss or damage to Special Attire caused by theft from an unattended vehicle. But this does not apply with your wedding planning insurance if at the time of the loss:
(a) the Special Attire was contained in a fully enclosed, locked and secured body or compartment of the vehicle; and
(b) the vehicle had an audible alarm which was fully operational and “armed”; and
(c) there are visible signs of forced entry requiring repair to the vehicle; and
(d) the theft is reported to the police within 24 hours of the discovery.
07. Jewelry Coverage
You and the Honoree have this wedding insurance coverage only if a limit of insurance is shown for it on the Declarations page. We cover the items of jewelry scheduled in this policy which you or the Honoree own against physical loss or damage which results during the Policy Period from a cause of loss not excluded while the jewelry is within the Policy Territory.
a. What We Will Pay Under Jewelry Coverage
We will pay the full cost to repair or replace the lost or damaged jewelry, without deduction for depreciation. Our maximum liability for any lost or damaged item shall not exceed the amount shown in the schedule for that item. In case of loss of any item that is part of a pair or set, we will pay the amount shown in the schedule for the set upon surrender of the remaining items of the set to us.
b. Exclusions-What We Do Not Cover Under Jewelry Coverage
(01) Nuclear Action Or War
We do not cover loss or damage to jewelry caused by Nuclear Action or War.
(02) Ordinary Causes
We do not cover loss or damage to jewelry caused by wear or tear, gradual deterioration or inherent vice.
(03) Theft From An Unattended Vehicle
We do not cover loss or damage to jewelry caused by theft from an unattended vehicle. But this does not apply if at the time of the loss:
(a) the jewelry was contained in a fully enclosed, locked and secured body or compartment of the vehicle; and
(b) the vehicle had an audible alarm which was fully operational and “armed”; and
(c) there are visible signs of forced entry requiring repair to the vehicle; and
(d) the theft is reported to the police within 24 hours of the discovery.
We’ll be moving onto part 4 of this series next. As you read through this sample, take notes on the sections you might have questions on, so when you contact your insurer, you’ll be ready to discuss any issues you might have in regards to your wedding insurance policy.
wedding insurance
No comments:
Post a Comment