Exhibition Risk Clause

EXHIBITION RISK CLAUSE #

Notwithstanding anything contained herein to the contrary, it is hereby agreed that this policy covers loss or damage to the items specified or displayed by fire, burglary, housebreaking, theft or any accident or misfortune including loss or damage occuring during transit.

Transit shall be deemed to commence at the time of the removal for packaging of any property from its normal position at the Insured`s premises and shall terminate on the replacement of such property to the said position or any stated destination after unpacking.

Provided always that :

1. If such property at the time of the accident be collectively of greater value than the sum insured, then the insured shall be considered as being his/her own insurer for the difference, and shall bear a rateable share of the loss or damage accordingly;
2. In respect of each and every occurrence, the insured shall be responsible for the first `85 (or any loss expenditure which may be incurred) of any expenditure for which the provision is made under this policy, other than for loss or damage by fire;
3. The company shall not be liable for loss or damage cause by wear and tear, the process of cleaning, repairing or restoring any article, the action of light or atmospheric conditions, moth ar any other gradually operating cause nor for damage to any steam boiler by its own explosion or collapse.