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Marine Insurance Terms & Conditions
This page was last updated on Friday, 25 August 2006 05:45:16 PM

Insured:	Consigner’s or Consignee’s name as may be required
By:	Sea and / or air and / or conveyances as may be declared.
Voyage:	To or from Australia as may be declared.
Interest:	Goods and / or merchandise and /or interest to be declared and valued.
Basis of Valuation:	Cost, insurance and freight plus 10 % or as may be agreed, but household / personal furniture as declared by insured party.
Conditions:	* As declared in accordance with rating schedules * Institute standard conditions or cargo contracts * Duty Clause (imports) if required * FOB / C&F Pre-shipment clause for imports if required
Excess:	In accordance with Rating Schedules.
Certificates:	To be issued for any one consignment as required.
Payment:	Insurance policy comes into place only when monies are fully accounted for and cleared by our bank.

We are Insurance distributors for Oceanic Insurance

POLICY FOR OVERSEAS HOUSEHOLD REMOVALS

Zurich Australian Insurance Limited, Sydney (the Insurer) through Associated Marine Insurers Agents Pty Ltd (the Company, as agent for the Insurer) agrees, subject to the cover option selected and to the other terms, exclusions, limitations and conditions contained in or endorsed on or otherwise expressed below and overleaf, to insure the Household and Personal Effects and/or Motor Vehicle (the insured goods) provided this Policy is signed by a person authorised by the Company or its Approved Agent.
Any insurance granted will be subject to the Insured named in the Schedule having paid the premium to the Company on behalf of the Insurer.

The Policy wording, Schedule (which expression includes any Schedule substituted for the original Schedule) and endorsements (if any) are to be read together and any word or expression to which a specific meaning has been given in any part bears that meaning wherever it appears.

TERMS AND CONDITIONS

VALUATION

It is in your interest to insure your effects for full value.
This means the cost at destination of replacing with new items less an allowance for condition, age, wear and tear, for items over five years old. If you underinsure your goods, CO-INSURANCE will apply.
This means that you will only recover the proportion of your loss which the insured value bears to the
full value determined as above.

EXAMPLE OF CO-INSURANCE: Item valued at $1000 but insured for $500. Cost of repairs $600.

The Insurer will pay               $500 x $600 = $300

                                                $1000

Subject to full value being declared, if loss or damage occurs as a result of an insured risk, the Company will pay:-

·          The reasonable cost of repairs or restoration in the event of damage.

·          FULL REPLACEMENT COST for any items totally lost or destroyed,
  PROVIDED that such items are no more than 5 years old.

·          INDEMNITY VALUE for any items totally lost or destroyed, if items are more than 5 years old.
 For the purpose of this insurance indemnity value shall mean the replacement cost less an
  assessed allowance for condition, age, wear and tear.

MOTOR VEHICLES are to be valued at the current market value at destination.

PERIOD OF COVER

The risk under this policy commences from the time the insured goods leave the residence or business location of the Insured at the place named herein and continues during the ordinary course of transit until delivered at the place named herein. Storage prior to shipment overseas or prior to delivery at final destination is covered for any periods stated in the Schedule provided storage is in an enclosed warehouse.

RISKS COVERED

COVER OPTIONS

COVER A            (Full Cover)
In Respect of Professional Packed Goods -
All risks of loss or damage to the insured goods from any external
cause including accidental damage during packing by the carrier

In respect to MOTOR VEHICLES –
All risks of loss of or damage to the Motor Vehicle(s) excluding loss or damage
while being driven under own power except while being driven by an authorised employee of the freight forwarder or their agent for the purpose of loading or unloading. Excludes rust, oxidation and or discolouration, chipping and or scratching or paintwork, pairs, broken glass, electronic derrangement.

COVER B              (Restricted Cover) 
                                In Respect of Owner Packed Goods
                                Loss of or damage to the insured goods resulting from

                                  -            Fire and explosion

-                   Collision of vessel, aircraft, or conveyance

-                   Overturning and/or derailment of conveyance

-                   Crashing and/or forced landing of aircraft

-                   Stranding, sinking, or contact of vessel with any external object
  (ice included) other than water

-                   Entry of water into any vessel, hold, container, liftvan or place of   storage

-                   Theft, pilferage or non-delivery

In respect to MOTOR VEHICLES –
All risks of loss of or damage to the Motor Vehicle(s) excluding loss or damage
while being driven under own power except while being driven by an authorised employee of the freight forwarder or their agent for the purpose of loading or unloading. Excludes rust, oxidation and or discolouration, chipping and or scratching or paintwork, pairs, broken glass, electronic derrangement

ADDITIONAL RISKS COVERED BY COVER A AND COVER B

War (sea and air transit risks) and strikes, riots and civil commotions in the terms of
Institute of London Underwriters Clauses current at the time of shipment.

General Average and salvage charges, adjusted or determined according to the contract of affreightment and/or the governing law and practice, incurred to avoid or in connection with the avoidance of loss from any cause except those excluded elsewhere in the policy.

RISKS NOT COVERED BY COVER A AND COVER B

Loss damage or expense caused by

1.                    Delay.

2.                    Confiscation or detention by Customs or other officials or authorities.

3.                    Wear and tear, moths, vermin, normal atmospheric or climatic conditions.

4.                    Inherent vice.

5.                    Mechanical, electrical or electronic breakdown or derangement unless there is external     evidence of the breakdown or derangement having been caused by an insured risk.

6.                   Non-delivery of owner packed items unless an itemised, valued list of contents is supplied    prior to the commencement of transit.

7.                    Any radioactive contamination, chemical, biological, bio-chemical, or electromagnetic weapon.

LIMITATIONS TO COVER A AND COVER B

PAIR AND SET CLAUSE:
Where any insured item consists of articles in a pair or set, the insurance is not to pay more than
the insured value of any particular part or parts which may have been damaged or lost and no more
than a proportionate part of the insured value of a pair or set.
Reference shall not be made to any special value which such article or articles may have as part of such pair or set.

FURNITURE AND ANTIQUES CLAUSE:
In the event of damage to any article of furniture or article of antique nature insured hereunder,
the Insurer’s liability is limited to the reasonable cost of repairs and no claim is to attach
hereto for depreciation consequent thereon.

CLAIMS PROCEDURE

1.                   As soon as possible after the happening of any event which may give rise to a claim
under the Policy the Insured must:

(a)                  Take all reasonable steps to prevent any further loss or damage.

(b)                 Note details of any loss or damage on the carrier’s receipt.

(c)                  Contact the Insurance company Associated Marine (The company)

Send to the Company the original Policy, Inventory and Condition Report
(provided by carrier delivering goods to final destination),
Contract of Carriage (bill of lading or similar document)
together with full details of items lost or damaged.

(d)                 Within 3 days of receipt of the goods, lodge a written claim on the final carrier.

2.                    The Insured must not authorise repairs or replacement of any insured goods lost or
damaged in transit without the consent of the Company.

3.                    The Company, at its expense, may appoint a Surveyor to inspect damaged goods,
in which case this will be advised as soon as possible after receipt of documentation detailed above.

4.                   Settlement of claims under this insurance will only be effected by the Company or its
Representatives or Agents under specific instructions from the Company.

5.             If the Insured is liable to pay Goods and Services Tax (GST) for goods, services
                or supply in respect of any claim and is not entitled to an input tax credit,
                the Company will pay the GST.