Common use of Coverage and Benefit Clause in Contracts

Coverage and Benefit. This agreement covers the computer loaned to the student against failure and/or damage over $100.00. The agreement covers the equipment 24 hours per day both inside and outside of school. Total repair/replacement costs will be determined at the time repairs are made. In the event of accidental damage or malfunction, the user will be responsible for 100% of the repair costs up to a maximum of $100.00. Payment for repairs will be due at the time repairs are made. Theft claims for the first occurrence will be subject to $200.00 maximum whereas a second theft second claim will be subject to full replacement cost or $405. Any careless, malicious or intentional damage to the equipment is not covered by this policy and will require the full replacement cost to be borne by the parent on behalf of the student. This policy does not cover lost equipment. Accessories valued less than $50.00 are not covered by this agreement. In no case shall the value be greater than $405.