Common use of EXTENSIONS OF COVERAGE Clause in Contracts

EXTENSIONS OF COVERAGE. a) Equipment on shore This insurance is extended to cover fixed equipment which is removed from the insured boat and stored on shore for servicing and/or maintenance, repair or storage. b) Newly acquired property We insure additional boats, tenders or trailers acquired subsequent to the attachment date of this Policy. You agree to report such additional property within fifteen (15) days of the date of acquisition and to pay additional premium thereon from said date. This insurance shall cease if such additional property is not reported to us within the fifteen