propertyinsuranceclauses wholedoc. i.thepropertyinsured thepropertyinsuredshallrefertoallpropertiesand expenses spe-cifiedinthescheduleofthispolicy. unlessspecificallyagreeduponinwritingbetweentheinsuredandthecompanyandappraisedandvalue-establishedbyprofessionalsorassessors,thefollowingarticlesandtheexpenses relevant thereto shall not becoveredunderthispolicy: 1.gold,silver,pearls,diamonds,preciousstonesandjades; 2.antiques,articlesofvirtue, ancient coins, ancient books andancientpaintings; 3.worksofartorpostagestamps; 4.advertisements,aerials,neon,piecesofsolarenergyapparatusetc.onbuildings; 5.computersystemrecordsoritsmakingandcopyingcosts. undernocirc umstancesshallthefollowingarticles relevant theretobecoveredhereunder: 1.guns,ammunitionorexplosives; 2.banknotes,securities,bills,documents,files, account books ordrawings; 3.animals,plantsandagriculturalcrops; 4.mobilephones,portablecomputers,removable photograph apparatusorotherpreciousarticles; 5.vehicleslicensedforgeneraltransportuse. ii.scopeofcover thecompanyshallindemnifytheinsuredin respect of the physicallossofordamagetotheinsuredpropertystatedin the schedule duringtheperiodofinsurancedirectlyarisingfromthefollowingperils: 1.fire; 2.explosion; butnotincludingexplosionof a boiler or other pressure reliefdevices; 3.lightning; 4.hurr icane,typhoonandtornado; 5.storm,tempestandflood; butnotincludinglossordamagecaused by change in normal waterlevelorinundationfromseawaterorwaterescape or leakage from thenormalconfinesofanynaturalwatercourse,lakeorreservoir, canal ordamaswellaslossofordamagetotheinsuredpropertycausedby storm,tempestorfloodwhilebeingstoredintheopenorcoveredbyor under ashedthatchedwithreeds,tarpaulins, straw, asphalt felt, plastic ornylonsheet; 6.hailstorm; 7.landslide,rockslide,avalanche; 8.volcanicexplosion; 9.subsidenceofground; but not including loss or damage resulting from pile driving,groundworkorexcavation; 10.crashingaircraftandpartsorarticlesfallingfromaircraft andotherflyingobjects; 11.burstingofwate rtankorpipe; butnotincludingburstingofwatertankorpipeduetorust. iii.exclusions thiscompanyshallnotbeliablefor: 1.lossofordamagetotheinsuredproperty or expenses caused byintentionalactorgrossnegligenceoftheinsuredorhisrepresentative; 2.lossofordamageto the insured property caused and expensesincurredbyearthquakeortsunami; 3.depreciation,lossofmarket,lossofuseand other consequentiallossesofanydescription; 4.lossofordamagetothe insured property or expenses incurredarising from war, warlike operation, hostilities, armed conflicts,terrorism,conspiracyinsurrection,coupd'etat,strike,riot, and civilcommotion; 5.confiscation,requisition,destructionordamagebyany action or orderofanygovernmentdejureordefactoorbyanypublicauthorities; 6.lossofordamagetoinsuredpropertydirectlyorindirectlycausedorexpensesincurredbynuclearfission,nuclearfusion, nuclear weapon,nuclearmaterial,nuclearradiationandradioactivecontamination; 7.lossordamagecausedandexpensesincurred by pollution of anykind or description whatsoever such as atmosphere, land and waterpollutionsbutthisdoesnotincludelossordamage caused by pollutionarisingfromperilsspecifiedinarticleiithepolicy; 8.thedeductiblesstatedinthescheduletobebornebytheinsured; 9.lossordamagearisingfromanyotherperilsnotlistedin articleiiofthispolicy. iv.treatmentofclaim 1.thecompanyshallatitsoption,indemnifytheinsured in respectoflossordamagefallingwithinthescope of cove r of the policy byeither: 1.1payingtheamountoftheactualvalue of the property lost ordamagedor; 1.2payingthenecessarycostofrepairingor restoring the damagedpropertytoitsnearestconditionimmediatelyprecedingthedamageor; 1.3repairingorrestoringthedamagedpropertytoaconditionneartootherpropertyoflikekindandquality. 2.indemnityunderthispolicyshallbebasedupon the sound marketvalueofthepropertyprevailingatthetimeofloss.ifthesound marketvalueofthedamagedpropertyis lower than the sum insured of suchproperty,theclaimshallbesettledonitsmarket value; if the soundmarketvalueofthepropertyisinexcessofthesuminsured,the companyshallonlybeliableforsuchproportionoftheclaimasthe sum insuredofthedamagedpropertybearstoitssoundmarketvalue. if the insuredpropertyenumeratedinthesched uleismorethanoneitem, the provisionofthisclauseshallapplytoeachthereof. 3.ifaclaimforlossofordamagetotheinsureditemissettled onatotallossbasis,thesalvagevalueofsuchitemshallbededucted fromtheindemnitypayablebythecompany.the company may, at its option,declinetheabandonmentofanydamagedpropertybytheinsured. 4.intheeventoflossofordamageto any equipment item insuredformingpartofapairorset,thecompanyshallnotbeliablein respectofeachofsuchitemlostordamagedformorethanitsproportionate partofthesuminsuredonthecompletepairorset. 5.intheeventofanylossoccurrence,thecompanyshallalsopaytheinsuredfortheexpensesreasonablyincurredfortakingnecessarymeasurestominimizelossordamagetotheleastextent,butinnocaseshall suchexpensesreferredheretoexceedthesuminsuredoftheinsuredproperty. 6.uponsettlementofaclaim,anendorsementshallbeissued by thecompanytoreducet hesuminsuredcorrespondingtothe property lost ordamagedbytheamountsosettledfromthedateof loss, and no premiumshallberefundedfortheamountsoreduced.ifreinstatementof the suminsuredisrequiredbythe insured upon settlement of the claim, anadditionalpremiumforthereinstatedamountshallbechargedatanagreedrate,andbecalculatedonproratadailybasisfromthedateof loss totheexpiryoftheinsurance. 7.thetimeofvalidityofaclaim under this insurance shall notexceedaperiodoftwoyearcountingfromthedateofloss. v.insured'sobligations thefollowingobligationsshallbestrictlyfulfilledby the insuredandhisrepresentative: 1.theinsuredandhisrepresentative, when applying for insuranceshallmaketrueanswersordescriptionstothequestionsin the proposalandquestion naireortoanyotherquestionsraisedbythecompany. 2.theinsuredandhisrepresentativeshallpaytothecompanyin duecoursetheagreedpremiuminthemannerasprovidedin the schedule andendorsements. 3.duringtheperiodofthisinsurance,theinsuredshallat his ownexpensetake all reasonable precautions, including paying sufficientattentiontoandputtingintopracticethereasonable recommendations ofthecompany,prudentlyselectingtheworkmenandemployees and complyingwithallstatutoryregulationsandsafetyoperationprocedures. 4.intheeventofanyoccurrencewhichgivesormightgiveriseto aclaimunderthispolicy,theinsuredorhisrepresentativeshall: 4.1notifythecompanyimmediatelyandwithinseven(7) days or anyfurtherperiodasmaybeagreedby the company in writing, furnish awrittenreporttoindicatethecourse,probablereasonandextentof lossordamage 4.2takeallnecessarymeasurestoavoidaggravationof the loss ordamageandminimizeittotheleastextent; 4.3 preserve the spot affected and defective parts before aninspectioniscarried out by a representative or surveyor from thecompany; 4.4furnishallsuch information and documentary evidence as thecompanymayrequireforsupportingtheclaim. vi.generalconditions 1.policyeffect thedueobservanceandfulfilmentofthetermsandconditionsof thispolicyinsofarastheyrelatetoanythingtobedoneorcompliedwithbytheinsuredshallbeaconditionprecedenttoanyliabilityofthecompanyunderthispolicy. 2.policyvoidance thispolicyshallbe voidable in the event of misrepresentation,m sdescriptionornon-disclosuremadebytheinsuredorhisrepresentativeinanymaterialparticularinrespectofthisinsurance. 3.policytermination unlessitscontinuancebeadmittedbythe company in writing, thispolicyshallbeautomaticallyterminatedif: 3.1theinsurableinterestoftheinsuredislost; 3.2theriskoflossordamageisincreased. afterterminationofthepolicy,thepremiumshallberefundedto theinsuredcalculatedonproratadailybasisfortheperiodfromthedateofterminationtothedateofexpiry. 4.policycancellation thispolicymaybecanceledatanytimeattherequestofthe insuredinwritingorattheoptionofthecompanybygivingafifteen (15) dayspriornoticetotheinsured.intheformercasethecompanyshallretainapremiumcalculatedonshorttermratebasisforthetime the policy hasbeeninforcewhileinthelattercasesuchpremiumshallbecalculatedonproratadailybasis. 5.forf eitofbenefit iftheclaimisinanyrespectfraudulent,orifanyfraudulent meansordevicesareusedbytheinsuredorhis representative to obtain anybenefitunderthispolicyorifanylossordamageis occasioned by theintentionalactorintheconnivanceoftheinsuredorhisrepresentative,theninanyofthesecases,alltherightsand benefits of the insuredunderthispolicyshallbeforfeited,andall consequent losses arisingtherefromincludingtheamountofclaim paid by the company shall beindemnifiedbytheinsured. 6.reasonableinspection therepresentativeofthe company shall at any suitable time beentitledtoattendthesiteandinspectorexaminetherisk explosure ofthepropertyinsured.forthispurpose,the insured shall provide fullassistanceandalldetailsandinformationrequiredbythecompanyas maybe necessary for the assessment of the risk. the above mentionedinspectionorexamination shall in no circumstances be held as anyadmissiontotheinsuredbythecompany. 7.doubleinsurance shouldanyloss,damage,expensesorliabilityrecoverable under thepolicybealsocoveredbyanyotherinsurance,thecompanyshall only beliabletopayorcontributehisproportionoftheclaimirrespectiveastowhethertheotherinsuranceisarrangedbytheinsuredor others on hisbehalf,orwhetheranyindemnification is obtainable under such otherinsurance. 8.subrogation whereathirdpartyshallbeheldresponsiblefortheloss or damagecoveredunderthispolicy,theinsuredshall,whetherbeingindemnifiedbythecompanyornot,takeallnecessarymeasurestoenforceorreserve therightofrecoveryagainstsuchthirdparty,anduponbeingindemnified bythecompany,subrogatetot hecompanyalltherightofrecovery, transferallnecessarydocumentstoandassistthe company in pursuing recoveryfromtheresponsibleparty. 9.dispute alldisputesunderthisinsurancearisingbetweentheinsuredand thecompanyshallbesettledthrough friendly negotiations. where the twopartiesfailtoreachanagreementafternegotiations,suchdispute shallbesubmitted to arbitration or to court for legal actions. unlessotherwiseagreed,sucharbitrationorlegalactionshallbecarriedoutintheplacewherethedefendantisdomiciled. vii.specialprovisions thefollowingprovisionsshallbeappliedtoallpartsofthis policyandshalloverridetheothertermsandconditionsofthis policy if anyconflictarises. propertyinsurancepolicy p olicyno.: whereastheinsurednamedinthe schedule hereto has made to the______insurancecompany(hereinafter called ""the company"") a writtenproposalwhichtogetherwithanyotherstatementsmadebytheinsured forthepurposeofthispolicyisdeemedtobe incorporated herein and haspaidtothecompanythepremiumstatedintheschedule. nowthispolicyofinsurancewitnessesthatsubjecttothe terms andconditionscontainedhereinorendorsedhereonthecompanyshallindemnifytheinsuredfor the loss or damage sustained during the period ofinsurancestated in the schedule in the manner and to the extenthereinafterprovided. by the ________ &nb sp; insurance company_________________________authorisedsignaturedateofissue:placeofissue: schedule policyno.:1.nameandaddressoftheinsured 1.1theinsured: 1.2address:2.locationofthepropertyinsured:3.natureoftrade:4.insureditemsandsumsinsured: insureditems sumsinsured 4.1propertyinsured 4.1.1building(s)(includingdecoration): 4.1.2machineryandequipment: 4.1.3furnitureandfixture: (includingofficeequipmentandsupplies) 4.1.4stock: 4.1.5others: 4.2additionalexpenses: 4.2.1removalofdebrisfees: 4.2.2fireextinguishingexpenses: 4.2.3professionalfees: 4.2.4otherexpenses: totalsuminsured:5.deductible(anyoneaccident):6.periodofinsurance:___months. from00:00of_________to24:00hoursof______7.premiumrate: totalpremium:8.dateofpayment:9.jurisdiction: thispolicyisgovernedbylawofthepeople'srepublicofchina.10.specialprovisions: propertyinsurancepolicy'sschedule _________insurancecompany