Page 106 - Bay Union - Platinum Policy Wording
P. 106

Sec on 7 – Watercra 
What is covered
○ We will cover you against loss or damage to the watercra , which is being used for social, pleasure and domes c purposes only, up to the sum insured stated in the schedule subject to the following:
– If the watercra  is less than  ve years old – the basis for calcula ng se lement is the current purchase price of a new watercra  of the same or similar model.
– If the watercra  is more than  ve years old – the basis for calcula ng se lement is the current market value. Quota ons from two quali ed watercra  dealers will be used to determine market value.
○ If a part necessary for the repair of the watercra  is not available in the Republic of South Africa, we will pay an amount equal to the value of the part at the  me when the loss or damage occurred. The value of the part will be determined by the price stated in the most recent catalogue or price list. The cost of air freight and/or impor ng replacement parts and express delivery is limited to the amount stated in the schedule.
○ Our payment for sails (less than three years old), protec ve covers, erected tackle, outboard motors, inboard motors and ba eries will be the cost to replace such items up to its reasonable market value less deprecia on.
○ The maximum amount we pay for loss of or damage to the watercra  is the sum insured.
○ We will not be expected to achieve an exact restora on, repair or replacement. It will be as close to the original
speci ca on as possible.
○ Inspec on of the hull a er stranding, sinking or collision means the costs up to the limit stated in the schedule incurred to inspect the hull of the watercra  for possible damage that may have occurred due to stranding, sinking or collision.
○ Medical bene t means bodily injury sustained by any person while on board the watercra  as a result of an accident. We will pay the bene t stated in the schedule.
○ Outboard motors means loss or damage to outboard motors as a result of dropping o  or falling overboard, provided that they have been bolted or chained to the hull.
○ Repatria on costs means the cost necessarily incurred by you to repatriate the watercra  when damage was sustained while outside of the borders of the Republic of South Africa, but within 'Where we cover your watercra ' up to the limit stated in the schedule.
○ Safeguarding and emergency repairs means:
– –
the necessary costs up to the limit stated in the schedule to store, safeguard and remove the watercra  to the nearest repairer, if the watercra  is not in working order, due to loss or damage covered under this sec on
costs up to the limit stated in the schedule for emergency services you are liable to pay to any public authority following a loss.
Bay Union – Pla num Policy Wording – 24 October 2016

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