Property Damage Insurance
Buildings shall mean -
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buildings outbuildings and garages (including foundations) built mainly of brick stone concrete or other non- combustible material
landlord's fixtures and fittings (including fixed glass and fitted carpets) tenants’ improvements and interior decorations
furnishings and other contents of common parts of the Buildings including seasonal items telecommunications aerials aerial fittings and masts satellite dishes gangways pedestrian malls and pedestrian access bridges
patios terraces paths drives car parks roads pavements hardstandings and similar surfaces all constructed of solid materials
street furniture fixed signs garden ornaments statues garden furniture and gardening equipment walls gates fences and Services
landscaping excluding external ponds and lakes swimming pools tennis and squash courts and gymnasia video audio and buildings management security systems and equipment baths bath panels washbasins pedestals sinks splashbacks showertrays and sanitaryware
in on or around the Buildings situate at the Premises and all being the property of the landlord or Insured or for which they are responsible
For the purpose of determining whether any property falls within the definition of Buildings the Company agrees to accept the designation under which such property has been entered in the Insured's books or which has been used by the Insured in computing the Sums Insured hereunder or for which the Insured is responsible under the terms of the lease
Contract Works shall mean temporary or permanent works executed or in the course of execution at the Premises by or on behalf of the Insured for the purposes of alterations or improvements to the Premises including unfixed site materials for use in connection therewith
Day One Rental Value shall mean
the actual annual Rent at the commencement of the Period of Insurance
or if the Buildings are untenanted at that date – the actual annual Rent at which the Buildings were subsequently let (or the estimated annual Rent at which they are expected to be let)
or if the Buildings are subject to a rent free period concession at that date - the actual annual Rent that applies from the date immediately after the rent free period ceases
in each case the amount to be
proportionately increased where the
indemnity Period exceeds one year
Declared Value shall mean the base value shown in brackets below the Sum Insured excluding any provision for inflation
Empty Disused or Unoccupied shall mean any Building that is unfurnished untenanted or no longer in active use
Indemnity Period shall mean the maximum period from the date of the Damage for which the Company shall be liable to pay any loss such period being the number of years shown in the Schedule
Insurable Amount shall mean the the total of the insured costs i) ii) iii) iv) and v) detailed within Buildings – Basis of Settlement of Claims in reinstating the property insured
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to a condition substantially the same as when new or if in the schedule it is stated that the Alternative Basis of Settlement applies - -
after an appropriate deduction for wear and tear Long Term Unoccupied shall mean any Building that
[a] has been unfurnished or untenanted for any continuous period exceeding 26 weeks or
[b] is no longer in active use and is awaiting refurbishment redevelopment renovation or demolition
Notifiable Disease shall mean injury or illness sustained by any person resulting from 6
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