Page 19 - Agriculture Policy Wording Binder

General Exceptions, Conditions and Provisions
29.4 alarm and detection systems;
29.5 TV aerials including television transmission or reception equipment;
29.6 closed circuit cameras and monitors;
29.7 or any accessory or attachment relating thereto;
being the subject of a claim as insured for which there is no immediate replacement, or for which the agency or supplier in South Africa has discontinued the importation of such equipment, and;
PROVIDED THAT:
such equipment is not repairable, then such equipment will be considered obsolete.
In the event of the equipment being considered or declared obsolete, then at the option of the Company the basis of the indemnity will be cash-in-lieu and will be the original purchase or replacement costs thereof less a rate of depreciation based on an accumulative rate of 15% (fifteen percent) per annum, as from the date of purchase or installation, excluding labour and installation costs.
30. Dye-lots, patterns and textures
Loss of or damage to any property (or portion of such property) being supplied or manufactured in specific dye- lots, colours, patterns or textures which is not available (in whole or in part) in such dye-lots, colours, patterns or textures, the Company will indemnify the Insured for the loss of the same as such is available to the nearest dye- lot, colour or texture as may be available in the required quantity.
31. Changes in Premiums and Conditions
The Company reserves the right to change or increase premiums from time to time or to amend the Terms, Conditions and Exclusions of cover in respect of the Policy subject to 31 (thirty one) days’ notice in writing.
32. Average
This Condition shall apply to the following Sections of this Policy:
A. Fire;
B. Business Interruption;
C. Buildings Combined but not applicable to accidental damage to sanitary-ware;
D. Office Contents but not applicable to accidental damage to sanitary-ware;
E. Glass;
F. Electronic Equipment
G. Houseowners but not applicable to accidental damage to sanitary ware;
H. Householders but not applicable to accidental damage to mirrors and glass.
If the property insured is, at the commencement of any damage to such property by any peril insured against, collectively of greater value than the sum insured thereon, then the Insured shall be considered as being their own insurer for the difference and shall bear a rateable share of the loss accordingly. Every item, if more than one, shall be separately subject to this Condition.
Applicable to windmills, animals, game and ostriches
If at the time of any loss of the animals, game and/or ostriches and windmills as insured in terms of this policy against the Perils as defined in the respective Section of the Policy it is found that the number of the specific kind of animals, game and/or ostriches and windmills is higher than the number insured then the Insured shall be considered as being his own insurer for the difference and shall bear a rateable share of the loss accordingly. Every item, if more than one, shall be separately subject to this Condition.
33. 72 hour consecutive occurrence
It is understood and agreed that all loss or damage to property stated in the Schedule occurring during any one period of 72 consecutive hours during the currency of this Policy directly caused by any of the following perils, namely: hurricane, typhoon, windstorm, rainstorm, hailstorm, tornado, earthquake, seaquake, tidal wave, volcanic eruption, and in respect of malicious damage within the limits of any one city, town or village shall be deemed to have been caused by a single event and therefore to constitute one loss for the purpose of this Policy.
Policy Wording – Agriculture – Binder – Version 2 2023 Page | 17