Common use of Material Losses Clause in Contracts

Material Losses. The INSURER cover, up to the amount stipulated in the Policy and subject to the exclusions stated in these Terms and Conditions, the payment of the indemnity corresponding to material loss affecting the INSURED’S luggage, during the trips or holidays taken outside the INSURED’S habitual place of residence, as a consequence of: • Theft (for these purposes, theft is understood solely as robbery occurring through violence or the threat of violence or intimidation towards people or the use of force on objects). • Faults or damage caused directly by fire or theft. • Faults and definitive, total or partial, loss, caused by the transport company. The term “valuables” refers to jewellery, watches, precious metals, furs, paintings, works of art, silver and precious metalwork, unique objects, mobile telephones and their accessories, photo and video cameras and their accessories, radios, sound and image content and reproduction media, as well as their accessories, computer information or material of all types, prototypes and remote-controlled/guided accessories, rifles, including their optical accessories and medical devices. Furs and jewellery are covered only against theft and only when they have been placed in the hotel’s safe or when the INSURED are carrying them with them. The pro rata condition of average is expressly deleted in respect of claims under this cover, which will be paid at first risk.