Common use of Contract Works Clause in Contracts

Contract Works. The insurance for Building(s) extends to include contract works to the extent to which you have contracted to arrange cover provided that: a) this Extension shall not apply to any contract where the original contract price or contract value on completion exceeds £250,000; b) this Extension shall only apply insofar as such contract works are not otherwise insured; c) we shall not be liable for the first £250 of each and every occurrence for damage to such