Your Contract Works Policy

Transcription

1 U r u p a r e k t e T o n g a Southern Response Earthquake Servces Ltd Your Contract Works Polcy (Lmted Rsks Cover)

2 About your nsurance contract a. Ths polcy forms part of the nsurance contract between us and you. b. Your nsurance contract conssts of: - ths polcy - the polcy schedule, ncludng any specal terms - the nformaton you provded n the proposal - the payment notce - any changes that we wrte to you about - any changes you request and we agree to n wrtng. c. You must pay any nsurance premum by the date stated on the payment notce. You cannot make a clam untl you have pad your premum. If you do not pay your premum, your polcy wll cease to operate. d. In consderaton of you payng us the premum stated n the polcy schedule, we agree to provde the nsurance covers set out below. Our defnton of contract works and related words In ths polcy a. contract works means the constructon works, whether temporary or permanent, to be performed by you, as descrbed n the buldng contract, whch s the subject of ths nsurance, ncludng all materals and tems to be ncorporated. b. buldng contract means the contract between the homeowner, us and the contractor for performance of the contract works. c. buldng ste means the address stated n the polcy schedule. d. buldng perod means the perod commencng on the date stated n the polcy schedule or when the contractor takes possesson of the buldng ste, whchever s later, and fnshng wthn 12 calendar months, or when whchever of. or. below apples frst: completon: - when a practcal completon certfcate s ssued, or - when the contract works are practcally complete except for mnor omssons and mnor defects whch do not prevent the contract works from beng reasonably capable of beng used for ther ntended purpose, or - when the contract works are occuped, taken over or taken nto use by the purchaser, homeowner or authorsed person, whchever s earlest; or scheduled date beng the fnshng date shown n the polcy schedule; ths date may be extended beyond the date stated n the polcy schedule for the express purpose of completng the contract works, provded we agree n wrtng pror to the fnshng date and you agree to pay any addtonal premum requred. d. constructon plant means tools, plant or equpment, ste encampments or hoardngs used to carry out the contract works, excludng any plant or equpment formng, or to form, a permanent part of the contract works. e. nsured property means the contract works and any other property stated on the polcy schedule. f. mantenance perod means the perod commencng when the buldng perod s complete and fnshng wthn 6 calendar months, or: at the end of the mantenance or defects lablty perod referred to n the contract, or when a defects lablty certfcate s ssued, or at the end of the perod shown n the polcy schedule, whchever s earler. For defntons of words used n ths polcy, please see page 7. What s covered by ths polcy Cover for the contract works The nsured property s covered for any loss or damage occurrng at the buldng ste durng the perod of nsurance. Some crcumstances and some property are not covered - please refer to What s not covered by ths polcy on page 3 and the polcy schedule. 1 What we wll pay a. If the loss or damage can be repared, the cost of repars necessary to renstate the nsured property to ts condton at the tme of the loss or damage, less any salvage. b. If the nsured property s damaged beyond economc repar or where the loss or damage s not reparable, the actual value of the nsured property at the tme of the loss or damage, less any salvage, to the extent that: the loss clamed had to be borne by you, and the loss s n respect of nsured property ncluded n the calculaton of the sum nsured. 2

3 c. We can choose whether to ndemnfy you by: repar, or replacement, or cash payment, but we wll only make payments after beng satsfed ether by the producton of the relevant nvoces, recepts and other documentaton showng that the repars have been effected or the replacement has taken place, or that renstatement s mpossble. d. We wll meet the cost of any provsonal repars f such repars consttute part of the fnal repars and do not ncrease the total repar expenses. We wll not meet the cost of any alteratons, addtons or mprovements subsequent to the loss or damage occurrng. e. The most we wll pay under ths polcy s the sum nsured stated n the polcy schedule. Cover durng the mantenance perod We wll cover the homeowner durng the mantenance perod for any falure by or nablty of the contractor to fulfl ts legal lablty to repar or replace any loss or damage to the contract works under the mantenance or defects lablty condtons of the contract. There are some crcumstances when the contractor s not covered - please refer to What s not covered by ths polcy on page 3 and the polcy schedule. 1 Mantenance Perod a. Cover durng the mantenance perod s condtonal upon the loss or damage beng dscovered durng the mantenance perod and: arsng out of the contract works durng the buldng perod, or been caused by the contractor whle t s performng work under the mantenance or defects lablty condtons of the buldng contract, or occurrng to property formng part of the contract works whch s ncomplete, not bult or upon whch work s beng carred out for the purpose of completon followng ssuance of a partal or practcal completon certfcate. b. Ths cover s on the same bass as Cover for the contract works on page 2. Cover for addtonal costs Where there s a loss or damage covered by Cover for the contract works or Cover durng the mantenance perod, we wll pay the followng addtonal costs up to the sum nsured stated n the polcy schedule for each. 1 Removal of debrs a. We wll pay the reasonable cost of demolton and debrs removal necessary for renstatement of the loss or damage. These expenses must be approved by us before they are ncurred. 2 Professonal fees a. We wll pay the reasonable costs of any archtects, surveyors, consultng engneers or clerk of works fees to renstate the contract works, excludng any fees for the preparaton of a clam or estmate of fees. These expenses must be approved by us before they are ncurred. 3 Increased costs a. We wll pay the actual amount by whch the cost of renstatng the contract works exceed the ntal cost of that part of the contract works due to ncreases n the costs of labour and / or materals, provded the renstatement s completed wthout delay. 4 Overtme and express delvery a. We wll pay the reasonable addtonal costs of renstatng the contract works n the most expedtous tme possble, ncludng: penal pay rates, and express delvery and arfreght, but only wthn New Zealand. b. The most we wll pay s 30% more than ordnary labour and road carrage charges and ordnary costs, or the sum nsured stated n the polcy schedule, whchever s lesser. 5 Transt and storage a. The nsured property s covered for any loss or damage durng: storage at a place other than the buldng ste, and transt wthn New Zealand by road, ral, arfreght, nter-sland ferry or contanersed shppng between New Zealand ports. What s not covered by ths polcy 1 No cover for certan knds of damage Clauses 1 a. to 1 c. are lmted to the part of the nsured property drectly affected. a. Gradual damage There s no cover for loss or damage caused, drectly or ndrectly by: gradual deteroraton of the nsured property or any part of them, or deprecaton, wear and tear, seepage, corroson, eroson or the acton of natural atmospherc condtons, or rot, mould, mldew, fung or the acton of mcro-organsms. 3

4 b. Faults and defects There s no cover for loss or damage caused, drectly or ndrectly by: faulty or defectve workmanshp or materals, or fault, defect or omsson n desgn, plan, specfcaton, sequence, procedure or programme. c. Breakdown There s no cover for: loss or damage to mechancal or electrcal tems ncorporated n the contract works caused drectly or ndrectly by ther operaton, or mechancal or electrcal falure, derangement, breakdown or pressure exploson, or loss or damage caused drectly or ndrectly by mechancal or electrcal falure, derangement or breakdown of constructon plant. d. Delberate damage There s no cover for any delberate damage caused, drectly or ndrectly by: v v you, or your employees, subcontractors, or anyone who ordnarly resdes wth you, or any guest, or tenants or guests of tenants. 2 Excluded losses a. There s no cover for: v v v dsappearance or shortage of any property revealed only by the takng of an nventory or by perodc stocktakng and where such loss s not traceable to any specfc event, or consequental economc loss of any knd or descrpton, ncludng (wthout lmtaton) penaltes for non-completon or delay n completon or non-complance wth buldng contract condtons, loss of use, loss due to delay, penaltes, fnes, lqudated damages, aggravated, puntve or exemplary damages, or loss of or damage to any exstng structure or property at the buldng ste before commencement of the contract works, or extra charges for overtme, nght work, work on publc holdays, express delvery or arfreght, unless such charges are reasonable and occurred solely for the purpose of mnmsng further loss to the nsured property followng an nsured loss and these expenses are approved by us before they are ncurred, or are covered under clause 4 Overtme and express delvery (page 3), or loss to contract works n transt, not on the buldng ste, or are covered under clause 5 Transt and storage (page 3), or the cost of normal upkeep of and normal makng good of the contract works. 3 No cover for certan knds of property a. There s no cover for loss or damage to: v v any vehcle, or constructon plant, or tyres or tracks, or any arcraft, watercraft, or employees personal effects or hand tools. b. There s no cover for loss of fles, deeds, evdence of debt, bonds, blls of exchange, promssory notes, cash, bank notes, cheques, securtes or money, stamps, accounts, computer records, credt cards, fles, computer software, drawngs and plans. 4 No cover for certan events a. There s no cover for any loss, damage or lablty caused, drectly or ndrectly by the followng events: v v nterrupton of access to, or the supply of telecommuncatons, water, gas, electrcty or other servces to, the buldng ste, or total or partal cessaton of the contract works, or war, nvason, act of foregn enemy, hostltes (whether or not war s declared), cvl war, rebellon, revoluton, nsurrecton or mltary or usurped power, or onsng radaton or the escape or exstence of, or contamnaton by, radoactvty, or confscaton, natonalsaton, requston or destructon by or under the order of any Government or Publc Authorty. 5 No cover for terrorsm a. There s no cover for death njury, llness, loss, damage, cost, expenses or lablty of any nature whatsoever, drectly or ndrectly caused by, or n connecton wth an act of terrorsm. b. Act of terrorsm means an act, ncludng but not lmted to the use of force or volence and/or threat thereof, of any person or group(s) or persons, whether actng alone or on behalf of or n connecton wth any organsaton(s) or government(s), whch from ts nature or context s done for, or n connecton wth, poltcal, relgous, deologcal, ethnc or smlar purposes or reasons, ncludng the ntenton to nfluence any government and or to put the publc or any secton of the publc n fear. 4

5 6 No cover for electronc data losses a There s no cover for loss or damage to electronc data, and any lablty arsng from ths, drectly or ndrectly caused by, or n connecton wth a computer vrus. Ths ncludes loss of use, reducton of functonalty or any other assocated loss or expense n connecton wth the electronc data. b. In ths clause 6: electronc data means facts, concepts and nformaton converted to a form useable for communcatons dsplay, dstrbuton, nterpretaton or processng by electronc and electro-mechancal data processng or electroncally controlled equpment and ncludes programmes, software and other coded nstructons for the processng and manpulaton of data or the drecton and manpulaton of such agreement, and computer vrus means a set of corruptng, harmful or otherwse unauthorsed nstructons or code ncludng a set of malcously ntroduced unauthorsed nstructons or code, programmatc or otherwse whch propagate themselves through a computer system or network of whatsoever nature; ths ncludes, but s not lmted to Trojan Horses, Worms and Tme or Logc Bombs. 7 No cover for leaky buldngs a. There s no cover for loss, damage, lablty, prosecuton or expense of any type connected n any way wth an nternal part of a buldng or structure beng wet, damp or most that s caused drectly or ndrectly by: the faulty desgn or faulty specfcaton, ncludng faulty sequence, procedure or programme, or faulty materals, or faulty workmanshp, when t was constructed, repared, rebult, renstated or altered. 8 No cover for polluton a. There s no cover for loss, damage, lablty, prosecuton or expense of any type caused drectly or ndrectly by: seepage, polluton, or contamnaton (ncludng the costs of removng, nullfyng or cleanng up) unless the seepage polluton or contamnaton occurs durng the perod of nsurance and s caused by a sudden and unforeseen occurrence durng the same perod of nsurance, or mnng, processng, transportng, dstrbutng or storng asbestos, or manufacturng or processng materal contanng asbestos, or v any process of decontamnaton, treatment or control of asbestos, or v the presence of asbestos n any buldng or structure, or v asbestos polluton or contamnaton (the provso n clause 8 a. wll not apply). Your deductble 1 What you must pay (your deductble) a. Your deductble s the amount you must contrbute as the frst payment towards the cost of each clam you make. The polcy schedule states the deductble that apples under dfferent parts of the polcy. b. The applcable deductble wll be deducted from each adjusted loss for each event or seres of losses from the same event. c. A seres of losses arsng from a natural dsaster durng any perod of 72 consecutve hours wll be treated as one event for the purpose of applyng the excess. Clams 1 If you need to make a clam These are your responsbltes when makng a clam. If you do not fulfl these responsbltes, then we can decde not to accept a clam. a. If t s lkely that you wll make a clam, you must, at your expense: mmedately notfy us by fax or telephone, mmedately lay a complant wth polce f you suspect a crmnal act has occurred, fll out our clam form, v take prompt steps to mnmse the loss or damage, and to prevent any further loss or damage, v take prompt steps to mnmse any lablty and avod any further lablty, v take reasonable steps to obtan detals of any other person, property, or vehcle nvolved and any wtnesses, v mmedately tell us of any communcaton you receve that relates to an event whch has resulted or could result n a clam, v provde us wth any further nformaton, documents, authortes or assstance that we may ask for, x help us as we requre, ncludng after your clam s settled; ths may nvolve attendng court to gve evdence. 5

6 b. If t s lkely that you wll make a clam, you must not: dspose of any property or any part of damaged property nvolved n the clam untl we have gven you permsson to do so, admt responsblty for any lablty or do or say anythng whch may prejudce our ablty to defend a clam aganst you or pursue recovery from the person or entty who caused the loss or damage, release anyone from lablty that could arse from loss or damage covered by ths polcy, unless agreed to by us. 2 Repars a. You may start repars, wthout prejudce to our lablty under the polcy, provded all of the condtons under ths polcy are compled wth. 3 Your rghts a. You are enttled to: have your clam acknowledged and dealt wth n a professonal and effcent manner, and receve a far settlement of your clam as quckly as crcumstances allow, and/or receve a clear explanaton of why any clam has not been met, and v have free access to our formal complants procedure (see general polcy nformaton on page 7) 4 Our rghts a. We are enttled to: enter and nspect any land or buldng where loss or damage has occurred, and take and keep possesson of any damaged tems, and deal wth any salvage n a reasonable manner, and v negotate or settle any clams aganst you for anythng covered by ths polcy, and v defend you or take legal acton n your name aganst anyone else for anythng covered by ths polcy, and v complete all necessary documents and authortes as your agent. Your responsbltes These are your responsbltes as a polcyholder. If you do no fulfl these responsbltes, we can decde not to accept a clam or to cancel or vod your polcy. 1 Reasonable care a. You wll, at your own expense, take all reasonable care to prevent loss or damage to property and avod ncurrng any legal lablty to others. b When hot work s beng carred out on any nsured property or at the buldng ste, you must ensure complance wth any applcable New Zealand Standards and best ndustry practce. 2 Accuracy of your statements a. Your polcy s based on nformaton suppled to us, ether by you, or on your behalf. All nformaton suppled by you or on your behalf must be truthful and correct. b. You must tell us about any crcumstances that may affect: c. You must: our decson whether to accept your proposal and on what terms, or any clam made under your polcy. nsure the contract works for ts full value, nclusve of all tems and materals for ther new replacement value ncludng freght, customs, dutes, wages and sub-contractors work, and declare n the proposal the new replacement value of homeowner s suppled materals whch form part of the project that have not been ncluded n the contract works prce. If any values or sums nsured are understated, average wll apply and the clam payment for a partal loss wll reduce by the same percentage whch the amount of any understatement bears to that whch should have been stated. d. If you do not dsclose all of the nformaton you should have your polcy may not operate, and we may refuse to meet a clam. e. If you make a fraudulent clam, your polcy wll cease to operate. 3 Keepng us nformed a. You must mmedately gve us wrtten notce of any change n crcumstance snce ncepton of the polcy whch ncreases the rsk of a clam. 6

7 General polcy nformaton Dsputes We have a formal complants procedure to help resolve any aspect of our polces or our servce that you are unhappy wth. For nformaton, please contact Southern Response Earthquake Servces Lmted. Call toll free on , vst our webste: or wrte to PO Box 9052, Tower Juncton, Chrstchurch, 8149 Ths nsurance contract s governed by New Zealand law. The New Zealand courts and trbunals wll have exclusve jursdcton over any legal proceedng or acton arsng out of or n relaton to the nsurance contract. Other Insurance At the tme of loss, you wll mmedately gve notce to us of any other polcy of nsurance coverng the same contract works or lablty, whether arranged by you or not. If, at the tme any clam arses under ths polcy, there s any other nsurance coverng you for the same rsks, we wll only pay or contrbute over and above the sum payable under that other nsurance. Renstatement of sum nsured When we pay a loss, the sum nsured s reduced by that amount. We wll add that amount back onto the sum nsured to gve you the full sum nsured agan, after the loss. Recepts and other documents We recommend that you keep all recepts and other documents that confrm your ownershp of the property covered under ths polcy and all accounts, nvoces, recepts, breakdown of costngs and other documentaton showng amounts spent, or ndcatng that repars have been effected or replacement has taken place. Goods and Servces Tax All amounts referred to n ths polcy nclude any GST that may apply. Legslaton Any reference to a statute or regulaton ncludes an amendment, replacement, or substtute statute or regulaton. Dollar amounts Any dollar amounts stated n ths polcy are n New Zealand dollars. Words n talcs Any words n talcs do not form party of the polcy and are provded by way of explanaton only. Defntons In ths polcy some words have specal meanngs. Wherever these words are mentoned n ths polcy, they have the followng meanng. clam means a clam lodged under ths polcy or a seres of clams arsng from any one event. contractor means the person or frm named as the contractor n the buldng contract. damage means any unforeseen and sudden physcal damage. exstng structures means any buldng, structure or property already at the buldng ste before the commencement of the contract works. homeowner means the person or entty named as the homeowner n the buldng contract. nsured property means the contract works and any other property stated on the polcy schedule. loss means any unforeseen and sudden physcal loss. perod of nsurance means both the buldng perod and the mantenance perod. polcy schedule means the most recent polcy schedule we have produced for you. project manager means Arrow Internatonal (NZ) Lmted we, us or our means Southern Response Earthquake Servces Lmted and ncludes ts assgnees. you or your means the homeowner. 7

8 U r u p a r e k t e T o n g a