SGI CANADA Policy Booklet - Your Easy Read Special Coverages

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asement floor. In the event that there is no basement, thenthose items that are below the surface of the ground insidethe foundation walls shall be disregarded.6. If the policy covers two or more dwellings, the Basis ofSettlement Clause shall apply separately to each dwelling.b) Occupancy Clause:It is a condition of this insurance that the dwelling(s) shall not beoccupied unless you tell us and we show this on your Cover Page.c) Arson Conviction Reward:We will pay $1,000 for information which leads to a convictionfor arson in connection with a fire loss to property insured bythis policy. The amount we pay adds to your total amount ofprotection. The $1,000 limit will not be increased regardless ofthe number of persons providing information. This coverage isnot subject to a deductible.d) Fraud Conviction Reward:We will pay $1,000 for information which leads to a conviction offraud in connection with an insured loss to property covered bythis policy. The amount we pay adds to your total amount ofprotection. The $1,000 limit will not be increased regardless ofthe number of persons providing information. This coverage isnot subject to a deductible.e) Debris Removal Clause:We will pay to remove debris of insured property from yourpremises, if your insured property has been damaged ordestroyed by an insured peril.We will also pay for removal of property of others, excludingtrees, shrubs and plants blown on to your premises bywindstorm, if your insured property is damaged or destroyed byan insured peril.Debris removal expenses shall not be considered for thepurpose of applying any co-insurance.ConditionsParts I - Added Features of Your Part I Coverage, II, III and V(A.) and(B.) of this booklet do not apply to dwellings under construction.Part V — Policy ConditionsA. Settling a ClaimB. Property and Causes of LossWe Do Not CoverC. General ConditionsA. Settling a ClaimYour Cover Page will show the amount of protection on property insuredin Part I, III and IV. Those amounts, along with the features we have saidadd to your amount of protection, are the most we will pay for your loss.We will only pay up to your financial interest in the property.Our payment will also depend on your share of the loss and otherrules used to settle claims. These are explained below.DeductibleA deductible is used for losses to property covered in Parts I, III and IV.A deductible means that you will have to bear the first part of yourloss yourself. We will subtract this amount from your total loss. Then15
we will pay for the rest of your loss. We will pay up to your totalamount of protection. We will not pay if your loss is less than thedeductible. The deductible is shown on your Cover Page.You may have different deductibles, depending on the type ofproperty and the type of loss that we cover. When two or more itemsare lost or damaged in one loss, or several insured perils occur at thesame time contributing to the loss, we will use only one deductible.We will use the largest single deductible of all that apply.Replacement Cost and Actual Cash ValueWe will use one of these methods to find the amount of your loss:Replacement Cost: This is the cost to replace or repair property withmaterial of similar kind and quality at today’s prices.Actual Cash Value: This is the cost to replace or repair your propertyconsidering depreciation which includes such things as its age,condition, resale value, obsolescence, and normal life expectancy atthe time of loss. The value of the property usually falls as it ages.Thus, actual cash value is normally lower than the cost to replace yourproperty at today’s prices.If the dwelling is a mobile home, the basis of settlement will be actualcash value unless otherwise shown on your Cover Page.The basis of settlement for swimming pool liners will be actual cashvalue in all situations.ObsolescenceWe will not pay for increased costs that result when you cannot fix orreplace your property because materials or parts are unavailable,obsolete, or outmoded. We will only pay the cost that would havebeen needed if materials or parts were available. We will pay the lastknown cost of materials or parts.Dwelling and OutbuildingsIf you repair or replace the damaged or destroyed building on thesame site with material of similar kind and quality within a reasonabletime after the damage, you may choose as the basis of losssettlement either (A) replacement cost or (B) actual cash value. We willonly pay up to the total amount of protection shown on your CoverPage.(A) The actual cost of repairs or replacement (whichever is less)without deduction for depreciation. In this case, if the loss is over$1,000 we will pay in the proportion that the applicable amount ofprotection bears to 80% of the replacement cost of the damagedbuilding at the date of loss. This means that if the amount ofprotection you have chosen is less than 80% of the replacementcost of your building you have to pay part of the loss.Settlement will be as in (B) actual cash value, if any of the followingapplies:— you do not repair or replace your dwelling or outbuilding on apermanent foundation at the same site.— you do not repair or replace your dwelling or outbuilding withinreasonable time.— at the time of loss or damage your dwelling was vacant.— you do not re-occupy your dwelling on the same basis as thetime of loss.(B) The actual cash value of the property at the date of loss.We will not pay for increased costs due to any law or by-law dealingwith building or repair. We will not pay for any increased costs due tounnecessary delays on your part.16
Page 2 and 3: Table of ContentsPageIntroduction.
Page 5: This policy contains various exclus
Page 8 and 9: elocate or settle your household.We
Page 10 and 11: This coverage will apply to all pro
Page 12 and 13: We do not cover loss or damage:a) c
Page 14 and 15: Shipping Act regulations governing
Page 16 and 17: intended for use in construction of
Page 20 and 21: Special BelongingsBoats, their equi
Page 22 and 23: (i) business or farming purposes; b
Page 24 and 25: lawyers. You may release another pe
Page 26 and 27: (4) The refund may be made by money
Page 29 and 30: Privacy: Our commitmentThank you fo

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