Page 24 - Agriculture Policy Wording Binder

General Exceptions, Conditions and Provisions
Section
Reference
Amendment
Fire
Buildings Combined Office Contents Houseowners
Capital Additions Clause Capital Additions Clause Capital Additions Clause Capital Additions Clause
If the period of insurance is more often than quarterly then the words "each quarter" are amended to read "each month"
Fidelity Guarantee
Defined Event
In addition to the defined events the following is added:
The amount payable during any one period of 12 (twelve) consecutive months from inception or anniversary date will not exceed the sum insured stated in the Schedule
at the said inception or anniversary date as the case
may be (or double the sum insured if the "Reduction/ Reinstatement of sum insured" Extension applies).
If the sum insured is increased the 12 (twelve) consecutive months applies from the anniversary date.
Any reinstatement between the date of increase and the anniversary date will not exceed twice the sum insured.
Fidelity Guarantee
Reduction/Reinstatement of sum insured Extension
The words "annual premium" are amended to read
"12 (twelve) times the monthly premium" for policies with monthly periods of insurance and "4 (four) times
the quarterly premium" or "2 (two) times the bi-annual premium" for policies with quarterly or half-yearly periods of insurance respectively.
15. Locks and keys
This Provision shall apply to the following Sections of this Policy:
A. Buildings Combined B. Office Contents
C. Theft
D. Money.
In addition to any payment in respect of a defined event, the Company will indemnify the Insured in respect of the cost of replacing locks and keys following upon the disappearance of any key or following upon the Insured having reason to believe that any unauthorised person may be in possession of such key or a duplicate of such key of:
15.1 any receptacle; or
15.2 the insured premises;
15.3 after theft has taken place and the Company accepted liability for such claim;
PROVIDED THAT:
1. the premises is stated in the Schedule;
2. the liability of the Company shall not exceed R5 000 (five thousand rand) in terms of 15.1, 15.2 or 15.3 or
R10 000 (ten thousand rand) in the aggregate any one event;
3. the Insured shall be responsible for the first R500 (five hundred rand) each and every claim.
Additional cover may be purchased under the Money Section only, in which case the limit stated in the Schedule will be over and above the automatic cover provided.
16. Property under construction or alteration
Damage to property insured by this Policy in the course of erection and/or completion and/or alteration and/ or any loss following interruption or interference with the business in consequence of such damage, until final completion of the contract, shall not exceed R2 500 000 (two million five hundred thousand rand);
Page | 22 Policy Wording – Agriculture – Binder – Version 2 2023