Orange County NC Website
Browse       Search
DocuSign Envelope ID: D9F8096F-FD8F-4DEF-97BC-32AEDC172lF9 <br /> SECTION IV- LIMITS OF INSURANCE <br /> 1. As respects PART 1 -LIABILITY: <br /> (a) The Limits of Insurance shown in the Declarations or Aircraft Schedule(s)made part of this policy and the rules <br /> below fix the most we will pay regardless of the number of: <br /> (1) Insureds; <br /> (2) Claims made or suits brought; or <br /> (3) Persons or organizations making claims or bringing suits. <br /> (b) The Each Occurrence Limit is the most we will pay for damages under Coverage A,because of all bodily injury <br /> and property damage arising out of any one occurrence. <br /> (c) If any aggregate limits of insurance and aggregate deductibles are shown in this policy, they apply separately to <br /> each consecutive annual period and to any remaining period of less than 12 months,starting with the beginning of <br /> the policy period shown in the Declarations, unless the policy period is extended after issuance for an additional <br /> period of less than 12 months.In that case the additional period will be deemed part of the last preceding period for <br /> purposes of determining the limit of insurance or deductible.No aggregate limit shall be increased by successive <br /> claims or suits or from occurrence to occurrence. <br /> (d) The limits that shall automatically apply to a newly acquired aircraft are the same as those applicable to the first <br /> scheduled aircraft of the same make and model shown in the Aircraft Schedule(s). <br /> 2. As respects PART 2 - PHYSICAL DAMAGE, the Limits of Insurance shown in the Declarations and Aircraft <br /> Schedule(s)and the rules below fix the most we will pay for physical damage to the scheduled aircraft insured under <br /> Coverage B: <br /> (a) The most we will pay is the least of the cost to repair the physical damage, the insured value of the scheduled <br /> aircraft or the actual cost to replace the scheduled aircraft with an aircraft of the same make and type. However, <br /> our obligation to pay for physical damage will be reduced by the applicable deductible,if any,shown in this policy. <br /> Upon paying for a total loss, we will have no obligation to pay for further physical damage to such scheduled <br /> aircraft. <br /> (b) Any increase in insured value due to modification of the scheduled aircraft is subject to the Maximum Insured <br /> Value Limit shown in the Declarations. <br /> UAS (June 15,2018) Page 11 of 20 <br /> Includes copyrighted material of Insurance Services Office,Inc.,with its permission. <br />