International personal liability insurance

Question:  What perils / exposure / liabilities does this unscheduled personal property cover?

Answer:  We insure the property described in the declarations for all perils of loss or damage to the Insured property except as hereinafter provided under the “special limits” shown below.

SPECIAL LIMITS

The Company’s liability for loss of the following types of property is limited to:

1. $100 in the aggregate on cash, currency, money, bullion, numismatic property and bank notes;
2. $250 in the aggregate on manuscripts, securities, accounts, bills, deeds, evidences of debt, letters of credit, notes other than bank notes, passports, railroad and other tickets or stamps including philatelic property;
3. $2,500 in the aggregate for jewelry, watches, furs, fine arts, silver, musical instruments, oriental rugs, stamp and coin collection, golfers equipment, cameras and mobile computer hardware; and as respects money only losses, the deductible will not apply.

Question:  What does this unscheduled personal property policy not insure?

Answer:

1. Transit coverage as specified in this policy, unless such coverage is indicated on the declarations page of this policy
2. Shipments by mail unless sent by insured registered mail or insured commercial delivery service.
3. Against loss or damage by delay, inherent defects in the property, insects, vermin or improper or insufficient packing or addressing.
4. Against loss or damage caused by strikes, locked-out workmen or persons taking part in labor disturbances, or riots or civil commotions.
5. Against loss or damage caused by or resulting from:
   1. hostile or warlike action in time of peace or war, including action in hindering, combating or defending against an actual, impending or expected attack,
      1. by any government or sovereign power (de jure or de facto), or by any authority maintaining or using military, naval, or air forces; or
      2. by military, naval, or air forces; or
      3. by an agency of any such government, power, authority, or forces;
   2. any weapon employing atomic fission, nuclear or radioactive force, radioactive contamination or any weapon of mass destruction whether in time of peace or war;
   3. insurrection, rebellion, seizure, revolution, civil war, usurped power, any act(s) of terrorism, whether by a recognized state or government, or any group or individual; action taken by governmental authority in hindering, combating, or defending against such an occurrence; seizure or destruction under quarantine or customs regulations; confiscation by order of any government or public authority; risks of contraband or illegal transportation or trade; or evacuation for any cause initiated or recommended by government authority.
6. Wear and tear, marring, deterioration.
7. Mechanical breakdown, latent defect, inherent vice, or any quality in property that causes it to damage or destroy itself.
8. Smog, rust or other corrosion, or dry rot.
9. Discharge, dispersal, seepage, migration, release or escape of pollutants.
   1. Pollutants means any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste. Waste includes materials to be recycled, reconditioned or reclaimed.
10. Water Damage. 
    Water Damage means:
    1. Flood, surface water, waves, tidal action, overflow or a body of water, or spray from any of these, whether or not driven by wind caused by or resulting from human or animal forces or any act of nature.
    2. Direct loss by fire, explosion or theft resulting from the water damage is covered.
11. Intentional Loss
    1. Intentional Loss means any loss arising out of any act an insured commits or conspires to commit with the intent to cause a loss. In the event of such loss, no insured is entitled to coverage, even insureds/policyholder who did not commit or conspire to commit the act causing the loss.

Question: Is there a deductible?

Answer: There shall be no deductible applied to the property scheduled herein.

Question: What is exactly covered?

Answer:   

SPECIAL DEFINITIONS

Scheduled Property includes only the following:

1. Jewelry, insured for and valued as scheduled herein.
2. Furs and garments trimmed with fur or consisting principally of fur, as scheduled herein.
3. Fine arts, subject to special conditions as specified hereinafter, insured for and valued as scheduled herein.
4. Cameras, projection machines, and articles of equipment pertaining thereto, as listed herein.
5. Musical instruments and articles of equipment pertaining thereto, as listed herein and subject to special conditions as specified hereinafter.
6. “Silverware,” meaning silverware, silver-plated ware, gold ware, gold plated ware and pewter ware, also subject to special conditions as specified hereinafter. (This policy does not insure, as “Silverware,” pens, pencils, flasks, smoking implements or accessories or articles of personal adornment.)
7. Postage stamps including due, envelope, official, revenue, match and medicine stamps, covers, locals, reprints, essays, proofs and other philatelic property owned by or in custody or control of the Insured, including the books, pages and/or mountings therefore, as listed herein and subject to special conditions as specified hereinafter.
8. Rare and current coins, medals, paper money, bank notes, tokens of money and other numismatic property owned by or in custody or control of the Insured, including coin albums, containers, frames, cards and display cabinets in use with such collections, as listed herein and subject to special conditions as specified hereinafter.
9. Guns as scheduled herein. 

Question: Are there any special conditions?

Answer: Yes

1. As to Fine Arts:
   The Insured represents and agrees that the property insured herein will be packed and unpacked by competent packers. The Company shall not be liable for more than the amount set opposite the respective articles covered herein, which amounts are agreed to be the value of said articles for the purpose of this insurance. In the event of the total loss of any article or articles which are a part of a set, the Company agrees to pay the Insured the full amount of the value of such set as specified in the schedule attached, and the Insured agrees to surrender the remaining article or articles of the set to the Company.
2. As to Guns:
   This policy does not insure against:
   1. Loss or damage caused by any process of refinishing, renovating or repairing; by dampness of atmosphere and/or extremes of temperature; by moths, vermin, wear and tear, gradual deterioration, inherent defect or faulty manufacture; by rust, fouling, or explosion of firearms.
   2. Breakage, marring, scratching, tearing or denting unless caused by fire, thieves, or accidents to conveyances.
3. As to Musical Instruments:
   The Insured represents and agrees that none of the instruments insured herein will be played for remuneration during the term of this policy, unless otherwise endorsed hereon and additional premium paid at the current rates of the Company.
4. As to “Silverware:”
   This policy does not insure, as “Silverware,” pens, pencils, flasks, smoking implements or accessories or articles of personal adornment.
5. As to Stamp and Coin Collections: (Philatelic and numismatic property)
   In the event of loss or damage the amount payable hereunder shall be ascertained in the following manner:
   1. In case of loss of, or damage to, property scheduled herein and representing any one stamp, coin or other individual article insured, the Company shall pay or make good to the Insured such loss or damage up to but not exceeding the amount(s) set opposite the item(s) involved;
   2. In case of loss of, or damage to, property specifically described in the above schedule as pairs, strips, blocks, series, sheets, covers, frames, cards or the like, the Company shall pay in the event of total loss of such an item up to but not exceeding the amount set opposite the item involved and, in the event of partial loss, not more than the cash market value of the whole set, less the cash market value of the remainder at the time of loss, it being however understood and agreed that in the event of the property being insured for less than the cash market value, the liability of the Company shall not exceed the proportion that the amount insured bears to the cash market value;
6. Valuation and Payment of Loss:
   This Company shall not be liable beyond the value of the property as scheduled herein at the time any loss or damage occurs, and the loss or damage shall be ascertained or estimated according to such scheduled value with proper deduction for depreciation, however caused, and shall in no event exceed what it would then cost the Insured to repair or replace the same with material of like kind and quality; said ascertainment or estimate shall be made by the Insured and this Company; or if they differ, then by appraisers, as hereinafter provided; and the amount of loss or damage having been thus determined the sum for which the Company is liable pursuant to this policy shall be payable sixty (60) days after due notice, ascertainment, estimate and satisfactory proof of the loss have been received by this Company in accordance with the terms of the policy. It shall be optional, however, with this Company to take all, or any part of the articles at such ascertained or appraised value and also to repair or replace the property lost or damaged with other of like kind and quality within a reasonable time on giving notice within thirty (30) days after receipt of the proof herein required, of its intention to do so; but there can be no abandonment to this Company of the property described. This company is not liable for duty, surcharges, and any related taxes attributed to the disposal or importation of any scheduled property.