Property Investors Protection Plan policy document (PDF)

POLICY EXCLUSIONS Property Investors Protection Plan PolicyPolicy ExclusionsSection One and TwoThe insurance by these Sections doesnot cover1 DAMAGE caused by or consisting ofa) inherent vice latent defect gradualdeterioration wear and tear frostchange in water table level its ownfaulty or defective design or materialsb) the bursting by steam pressure of aboiler economiser vessel machine orapparatus in which internal pressure isdue to steam only and belonging to orunder the control of the Insuredother than• in respect of Section 1 – a boilerused for domestic purposes only• in respect of Section 2 – any boileror economiser on the Premises ora boiler used for domesticpurposes onlyc) pressure waves caused by aircraft orother aerial devices travelling at sonicor supersonic speedsBut this shall not exclude subsequentDAMAGE or subsequent loss resultingfrom DAMAGE which itself resultsfrom a cause not otherwise excluded2 DAMAGE caused by or consisting ofa) faulty or defective workmanshipoperational error or omission on thepart of the Insured or any ofhis Employeesbut this shall not excludei) such DAMAGE not otherwiseexcluded which itself results from aDefined Perilii) subsequent DAMAGE which itselfresults from a cause nototherwise excludedb) acts of fraud or dishonesty by theInsureds Employeesbut this shall not exclude suchDAMAGE not otherwise excludedwhich itself results from a Defined Peril3 DAMAGE caused by or consisting ofa) corrosion rust wet or dry rot shrinkageevaporation loss of weight dampnessdryness marring scratching verminor insectsb) change in temperature colour flavourtexture or finishc) joint leakage failure of welds crackingfracturing collapse or overheating ofboilers economisers superheaterspressure vessels or any range of steamand feed piping in connection therewithd) mechanical or electrical breakdown orderangement of the particular machineapparatus or equipment in which suchbreakdown or derangement originatese) in respect of Section 2 – the deliberateact of a supply undertaking inwithholding the supply of water gaselectricity fuel ortelecommunication servicesBut this will not excludei) such DAMAGE not otherwiseexcluded which itself results from aDefined Peril or from any otheraccidental loss destructionor damageii) subsequent DAMAGE which resultsfrom a cause not otherwise excluded4 Infidelity or dishonesty of the Insured orany of their Employees or other personsto whom Property Insured may beentrusted nor loss destruction or damageresulting from the Insured voluntarilyparting with title or possession of anyproperty if induced to do so by anyfraudulent scheme trick device or falsepretence or any unexplained loss or lossor shortage disclosed on taking inventory30