Page 286 - Agriculture Policy Wording Binder

10. vehicles, motorcycles, scooters, three-wheeled vehicles, quad-bikes, golf carts, trailers, caravans, hang-gliders, aircraft (other than remote control aeroplanes/drones if specified) or pleasure-craft – or any of their fitted equipment and accessories.
SPECIFIC CONDITIONS Average
If the total value of property insured which is not separately and individually specified is, at the time of the happening of any loss or damage to such property, of greater value than the sum insured thereon, the insured shall be considered as being his own insurer for the difference and shall bear a rateable share of the amount of the loss or damage. Each item of the schedule covering such property shall be separately subject to this condition.
Pairs and sets
The Company will not pay more than the proportionate value of any article that is part of a pair or set. Therefore if one earring is lost, for example, we will pay out the value of only that one earring.
Replacement value
The basis upon which the amount payable is to be calculated shall be either:
1. the replacement of the property by similar property in a condition equal to, but not better nor more extensive than, its condition when new; or
2. the repair of the property to a condition substantially the same as, but not better than, its condition when new;
PROVIDED THAT:
if, at the time of replacement or repair, the sum representing the cost which would have been incurred in replacement if the whole of the property had been lost, destroyed or damaged beyond repair exceeds the sum insured thereon at the commencement of the loss or damage, then the Insured shall be considered as being their own insurer for the difference and shall bear a rateable proportion of the loss accordingly.
Safeguarding of jewellery and watches
It is a condition that all jewellery (including watches) of which the value of any one item exceed R25 000 (twenty five thousand rand) must be kept in a locked safe, strong room or strong box which is affixed to the floor or structural wall of the building, when not worn on or by the person;
PROVIDED THAT:
any single item (or set) of jewellery (including watches) with a value exceeding R25 000 (twenty five thousand rand) per item/set must have a valuation certificate issued by a reputable jeweller which certificate may not date back longer than 5 (five) years
CLAUSES AND EXTENSIONS Approved lock, chain or cable
Approved means:
1. a cable that is at least 12 mm thick with an integrated lock; or
2. a chain that is at least 12 mm thick with a closed-shackle padlock.
Car radios
If sound reproduction equipment (including 1 (one) tape, compact disc or other storage device for sound such as but not limited to a USB memory stick) fitted in a motor vehicle is described in the Schedule to be included Specific Exception 1.1 does not apply to that item.
Personal All risks
Page | 284 Policy Wording – Agriculture – Binder – Version 2 2023