MR 013 – Property in Off-Site Storage

It is agreed and understood that, notwithstanding the terms, exclusions, provisions and conditions of the Policy or any Endorsements agreed upon and subject to the Insured having paid the agreed extra premium, Section I of the Policy shall be extended to cover loss of or damage to property insured (except property being manufactured, processed or stored at the manufacturer’s, distributor’s or supplier’s premises) in off-site storage within the territorial limits as stated below.

The Insurers will not indemnify the Insured for loss or damage caused by the neglect of generally accepted loss prevention measures for warehouse or storage units. Such measures include, in particular:

–        ensuring that the storage area is enclosed (either a building or at least fenced-in), guarded, protected against fire, as appropriate for the particular location or type of property stored;

–        separating the storage units by fire-proof walls or by a distance of at least 50 metres;

–        positioning and designing the storage units in such a way as to prevent damage by accumulating water or flooding due to rainfall or by a flood with a statistical return period of less than 20 years;

–        limiting the value per storage unit.

Territorial limit of :

Maximum value per storage unit :

Limit of indemnity (any one occurrence) :

Deductible   :    …… %  of loss amount minimum any one occurrence.

Extra premium :

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One Comment on “MR 013 – Property in Off-Site Storage”

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