A-9 Amount of the indemnity, Watercraft Hull Insurance, Basis Plus

A-9.1 In the event of total loss of the insured item without prospect of recovery, or of its destruction, we reimburse you the part of the sum insured under A-8 attributable to that item, provided the insured item is no more than 5 years old at the time the loss occurs and proof of replacement or reinstatement is provided.

A-9.2 For insured items more than 5 years old, the provision under A-9.1 likewise applies, provided their current value at the time the loss occurs still reaches half of the sum insured under A-8.1 and proof of replacement or reinstatement is provided.

A-9.3 For insured items more than 5 years old whose current value at the time the loss occurs does not reach half of the sum insured under A-8.1, or for which proof of replacement or reinstatement is not provided, settlement is made on the basis of the current value.

A-9.4 Unless otherwise agreed, in the case of partial or repairable damage we reimburse the necessary and substantiated replacement or reinstatement costs without age related deductions. Transport costs caused by the insured event (for example to the repair yard) are reimbursed like reinstatement costs. Those transport costs are set off against the sum insured.

A-9.5 Where age related deductions (current value) are agreed for partial damage and documented in the policy schedule or its endorsements, then by way of derogation from A-9.4 the reinstatement costs for partial damage are reimbursed as follows:  up to 3 years: no deduction;  after 3 years: 20 per cent deduction;  after 5 years: 35 per cent deduction; German law applies to the contract. The German wording of the conditions alone is binding; this translation is provided for understanding only.  from 10 years: 50 per cent deduction.

A-9.6 Unless another agreement is documented in the policy schedule or its endorsements, the indemnity for damage to personal effects is at most 3 per cent of the sum insured per claim, but at least 1,000 euros and at most 3,000 euros.

A-9.7 Achievable proceeds from residual values are set off against the indemnity. You cannot avoid that set off by placing the remains at our disposal, and you are not entitled to do so of your own accord.

A-9.8 Further costs.

A-9.8.1 Value added tax on indemnity amounts is reimbursed only if and so far as it has actually been incurred by you and there is no entitlement to deduct input tax. Transport costs, freight costs, standing costs, holding costs and other items not attributable to the value of materials and labour are likewise reimbursed only where they have actually been incurred. Crane costs are reimbursed where they were incurred because of the loss.

A-9.8.2 We reimburse experts' costs only where we arranged for the expert to be instructed or consented to it.