Insured object definition

Insured object. The loss of gross profit of the lessee as a result of loss or damage brought about to the property of the insured party under clause 1 above and / or to the lessor and / or to the structure and / or as a result of the prevention of access to them, as a result of one of the insured risks under clause 1 above, and this for an indemnification period of 12 months.
View Source

Examples of Insured object in a sentence

  • The insurance contract also covers damage caused by a trailer or caravan, provided that the connection between motor vehicle and trailer/caravan meets the legal requirements and insofar as the respective trailer/caravan may be regarded as part of the Insured object within the sense of the ALA.

  • Should there be a dispute about the amount of the body damage to the Insured object, the Policyholder and the Insurer will each appoint an expert to assess the damage.

  • The liability for damage caused by the use of the Insured object on an aviation platform.

  • The Insurer is only obliged to indemnify in the event of the title of the stolen or embezzled Insured object being transferred to the Insurer.

  • The event or accident being caused by any other use of the Insured object than reported to the Insurer or by using it for another purpose than permitted by Law.

  • The excess is reduced by 3,000 Kroner if an FG approved alarm system was operational at the time of a theft of, or break-in damage/loss in connection to, the Insured object.

  • In cases of loss by theft or embezzlement of the Insured object the insurer will indemnify the current market value of the object immediately before the loss.