Page 78 - Hollard Business Branch Policy Wording

Goods in Transit
Breakdown
In the event of breakdown of the means of conveyance during transit or if, for any reason beyond the Insured's control, the property is endangered, nothing contained herein shall debar the u liza on of any other form of transport to assist comple on of the transit and the insurance a orded shall not be a ected thereby.
Property
Property shall be deemed property usual to the Insured's business including ropes, tarpaulins and packaging materials in connec on with the transit.
Conveyance
Means of conveyance shall be deemed to be by road, rail or air.
Basis of valua on
The amount claimed shall be calculated as follows:
1. in respect of new goods:
the replacement value of the property by similar property in a condi on equal to, but not be er nor more extensive than its condi on when new;
2. in respect of goods that are not new:
2.1 the market value of the goods immediately before the insured event; or
2.2 the repair of the property to a condi on substan ally the same as, but not be er than, its condi on immediately before the insured event.
RESTRICTED COVER (if stated in the Schedule to be applicable)
Fire, lightning, explosion, collision, derailment and overturning and the following the event limita on
The insurance under this Sec on is limited to loss or damage resul ng from re, lightning, explosion, collision, derailment and overturning, and the following the event, of the means of conveyance described in the Schedule;
PROVIDED THAT:
1. collision shall not cons tute impact with inequali es in the road or other surfaces or shi ing of the load while in mo on;
2. the is not subject to violent and forcible entry and or exit.
SPECIFIC EXCEPTIONS
The Company shall not be liable for:
1. loss or damage resul ng from or caused by:
1.1 the from any una ended vehicle in the custody or control of the Insured or any principal, partner, director or employee of the Insured unless the property is contained in a completely closed and securely locked vehicle or the vehicle itself is housed in a securely locked building and entry to or exit from such locked vehicle or building is accompanied by forcible and violent entry or exit from;
1.2 the of goods from any temporary storage facility (stored during the period of transit) unless accompanied by visible signs of forcible and violent entry into or exit from such temporary storage facility or any a empt thereat or as a result of the or any a empt thereat following violence or threat of violence;
1.3 inherent vice or defect, vermin, insects, damp, mildew or rust;
1.4 the dishonesty of any principal, partner, director or employee of the Insured whether ac ng alone or in collusion with others;
1.5 or arising whilst in transit by sea or inland transit incidental thereto;
1.6 breakdown of refrigera on equipment;
Hollard Business Policy – Branch – Version 1 2018 Page | 77