Common use of LOSS OF OR DAMAGE TO INSURED SCHEDULED Clause in Contracts

LOSS OF OR DAMAGE TO INSURED SCHEDULED. BICYCLE(S) IN CONSIDERATION of the payment of the premium specified and of the statements contained in the application and subject to the limits, terms, conditions, provisions, definitions and exclusions herein stated and subject always to the condition that the Insurer shall be liable only under Insuring Agreement C for which a premium is specified in the application and no other, the Insurer agrees to indemnify the Insured against the sudden and unforeseen accidental loss or damage to the Bicycle specified on the Schedule Subsection 1 – ALL PERILS – from all perils not otherwise excluded DEDUCTIBLE CLAUSE Each occurrence causing loss or damage covered under any subsection of Section C shall give rise to a separate claim in respect of which the Insurer’s liability shall be limited to the amount of loss or damage in excess of the deductible amount, as stated in the applicable subsection of Section C of the policy declaration page. In the event of theft of the entire bike the policy deductible will DOUBLE if the scheduled bicycle is not locked to an immovable object or contained within a locked compartment or building at the time of the theft.