Rescue. We will pay the reasonable costs for the rescue of you, your passengers or members of your crew. Our limit of liability for rescue costs is $10,000. We will reimburse you reasonable temporary accommodation and travel costs if following an accident to or loss of your vessel giving rise to a claim which has been admitted under this policy you, your passengers or members of your crew are unable to return to the point of original embarkation. Our limit of liability shall not exceed $2,500. These optional clauses will only apply if there is a statement on the Schedule that they apply. We cover gear and equipment (provided they are not otherwise insured) against all risks of accidental loss or damage whilst onboard or being carried on or off your vessel however there is no cover while the vessel is laid up for repairs or storage. We will pay the actual cash value of gear and equipment but not exceeding what it would cost to repair or replace the property with a similar item of property. Our liability for any one item will not be more than $2500 and in total shall not exceed the sum insured specified in the schedule for this extension. We will pay the cost of replacing or repairing sails, mast, spars, or standing and running rigging lost or damaged whilst the vessel is racing. Unless the loss or damage is caused by the vessel being stranded, sunk, burnt, on fire or in collision or contact with any external substance (ice included) other than water any settlement will be subject to the racing risk excess stated on the schedule and we deduct depreciation for sails over 3 years old. We have the option:
Appears in 3 contracts
Sources: Insurance Policy, Insurance Agreement, Insurance Agreement