Home / Policy wording / Watercraft Hull Insurance, Premium / A-8
A-8 Insured value = agreed value, Watercraft Hull Insurance, Premium
Clause A-8, Insured value = agreed value, from Watercraft Hull Insurance, Premium, AVB WSK Premium (1-2025nam).
German law applies; only the German wording is binding.
This English text is a courtesy so you can read what you buy, not a contract document.
Where the two differ, the German text decides:
A-8.1 The insured value is the sum insured set out in the policy schedule or its endorsements, as an agreed value on the basis of mutual agreement, provided it is deemed proven.
A-8.2 The objection of underinsurance cannot be raised.
A-8.3 You are obliged to notify any increase in the value of your craft through modifications. Cover exists for such a value increasing change only if you have provided us with proof of the modifications. The premium is based on the total value of the craft after its modifications. If the sum insured you have chosen is lower than the actual total value, we are entitled to reduce our payment in a corresponding proportion. On value adjustments, an increase in the sum insured is possible at any time on production of purchase invoices or expert reports.
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