Index Linking


Where it states in the schedule that index linking is applicable the sums insured on buildings will be adjusted at the end of the period of insurance in line with suitable indices of costs and the renewal premium will be based on the adjusted sums insured


Loss Minimisation and Prevention Expenditure


The Company will pay the costs and expenses necessarily and reasonably incurred by or on behalf of the Insured to prevent or minimise insured Damage at the Premises


Provided that such costs are [i]


[ii] [iii]


directly related to Damage which is likely to occur in the immediate future unless urgent preventative action be taken


not more specifically insured under this or any other policy bond indemnity security or other legally binding contract


incurred with the Company’s consent


For the purpose of this clause the Company’s liability shall not exceed £25,000 in respect of any one Period of Insurance and shall be subject to an Insured’s Contribution of 10% or £250 whichever is the greater Obsolete Building Materials


This Policy extends to include the reasonable additional costs incurred in replacement of damaged materials which given consideration to the scientific and technical knowledge at the time of installation construction or fitting were reasonably deemed to be fit for the purpose intended but require replacement with more suitable modern materials after the Damage


The Buildings shall not be regarded as being better or more extensive than when new provided that the Company’s liability shall not exceed 10% of the Declared Value of such Buildings in respect of such additional costs


Partial Damage


Where Damage occurs to only part of the Buildings the Company's liability shall not exceed for all costs in total the amount which the Company would have been liable to pay to rebuild the Buildings had they been wholly destroyed


Rebuilding on Another Site


The Buildings may be wholly or partially rebuilt on another site and in any manner suitable to the requirements of the Insured provided that it does not increase the Company's liability


Reinstatement to Match


This Section of the Policy extends to include the cost of replacement repair or modification of undamaged parts of the Property Insured that form part of a suite common design or function where the Damage is restricted to a clearly identifiable area or to a specific part


The Company's liability under this clause shall not exceed the amount that would have been payable for replacement repair or modification of the whole property forming a suite common design or function if such property had been wholly destroyed


We will not pay for any undamaged items of Property Insured solely to them forming part of a) a set (other than a pair) b)


a suite


c) any other item of a uniform nature, design or colour when damage occurs to a part or within a clearly identifiable area


Replacement of Locks


Any cover granted under this Section of the Policy in respect of theft includes the reasonable expenses necessarily incurred in replacing locks which provide entry to the Premises or safes or strongrooms therein consequent upon theft of keys or reasonable evidence that keys have been duplicated by an unauthorised person provided the Company’s liability shall not exceed £2,500 in respect of all losses arising out of any one occurrence


Trace and Access


In the event of Damage resulting from escape of water or oil (if insured hereby) the Company will pay [i]


[ii]


the costs necessarily and reasonably incurred in locating the source of such Damage and subsequently making good


the cost of repairing or replacing tanks apparatus pipes or appliances which have been damaged by freezing


Tree Felling


The Company will pay reasonable costs and expenses incurred for the lopping or removal of trees for which the Insured is responsible if following Damage such trees are considered to be an immediate threat to life or the Property Insured provided that such costs


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