Asset Protection Machinery Damage


(5) any penalty (a) for delay or detention


(b) in connection with guarantees of performance or efficiency


(c) for liquidated damages or consequential loss


(d) for liability not specifically provided for by this Section.


(6) tyres damaged by (a) the application of brakes (b) cuts, punctures or bursts.


(7) Damage caused by Your wilful act or wilful neglect.


(8) Damage to experimental or prototype Plant or Machinery.


(9) Damage caused by the chipping of painted surfaces or scratching of any surfaces.


(10) The Excess stated in The Schedule.


We will deduct the Excess in respect of any claim or all claims arising out of one cause.


If more than one Excess is stated in The Schedule the highest amount will apply.


Conditions The following condition applies to this Section.


(Also refer to the Policy Conditions at the back of this policy booklet).


If in relation to any claim You have failed to fulfil the following condition You will lose Your right to indemnity or payment for the claim.


(1) Maintenance


You must maintain all Plant or Machinery in accordance with the manufacturers recommendations.


Clauses


The following clauses apply to this Section. Additional Plant or Machinery


We will indemnify You in respect of Damage to additional Plant or Machinery of a similar type to that specified in The Schedule subject to the Limit of Liability provided that You


(a) tell Us of any additional Plant or Machinery before the end of the Period of Insurance in which it was installed and ready for use and pay an agreed additional premium


(b) comply with current law for examination and certification of Plant or Machinery before it is used.


We will not indemnify You in respect of


(a) Plant or Machinery that is unsuitable for its purpose


(b) material defects that You are aware of in the additional Plant or Machinery.


Basis of Settlement - Reinstatement


The basis upon which We will calculate the amount We will pay for any claim will be the reinstatement of the Plant or Machinery or other property insured by this Section subject to the following conditions


(1) if Plant or Machinery or other property insured is destroyed We will pay for its replacement by similar Plant or Machinery or property insured in a condition as good as but not better or more extensive than its condition when new. If Plant or Machinery or other property insured is damaged We will pay the cost of repairs but will not pay more than We would have if the Plant or Machinery or other property insured had been completely destroyed.


(2) the Plant or Machinery or other property insured may be replaced on another site in a manner suitable to Your needs but this must not increase Our liability.


(3) all work must begin and be carried out as quickly as possible.


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