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A-9 Amount of the indemnity, Watercraft Hull Insurance, Premium
Clause A-9, Amount of the indemnity, 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-9.1 In the event of total loss without prospect of recovery, or of destruction, we reimburse you the insured item up to the sum insured agreed in the policy schedule or its endorsements under A-8.1. Where, in the case of destruction, the reinstatement costs exceed the sum insured, the indemnity is paid at new value (the replacement value for new items of the same kind) and is limited to the agreed value (sum insured) in each case.
A-9.2 Unless otherwise agreed, in the case of partial or repairable damage we reimburse the necessary and substantiated replacement or reinstatement costs at new value, 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-9.3 Where age related deductions are agreed for partial damage and documented in the policy schedule or its endorsements, 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; from 10 years: 50 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.
A-9.4: same wording in Hull Basis Plus, clause A-9
A-9.5: same wording in Hull Basis, clause A-8
A-9.8 Further costs. (The German original continues from A-9.5 directly to A-9.8; there is no A-9.6 or A-9.7.) 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: same wording in Hull Basis, clause A-8
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