LLOYD’S AIRCRAFT HULL POLICY (U.S.A.)

 

WE, UNDERWRITERS AT LLOYD’S, London, agree with the Insured, named in the Declarations made a part hereof, in consideration of the payment of the premium and in reliance upon the statements in the Declarations and subject to the limits of liability, Exclusions, Conditions and other Terms of this Policy:-

 

INSURING AGREEMENTS

 

1.       COVERAGE A —FLIGHT, TAXYING, ON THE GROUND OR MOORED

To pay for direct physical loss of or damage to the Aircraft including disappearance if the Aircraft is unreported for sixty (60) days after the commencement of flight but only for the amount of each separate loss less the applicable deductible stated in Item 3 of the Declarations.

 

2.       COVERAGE B—TAXYING, ON THE GROUND OR MOORED

To pay for direct physical loss of or damage to the Aircraft while not in flight but only for the amount of each separate loss less the applicable deductible stated in Item 3 of the Declarations.

 

3.       COVERAGE C—ON THE GROUND OR MOORED

To pay for direct physical loss of or damage to the Aircraft while not in flight or taxying but only for the amount of each separate loss less the applicable deductible stated in Item 3 of the Declarations.

 

4.       POLICY PERIOD, TERRITORY, PURPOSES OF USE

This Policy applies only to direct physical loss of or damage to the Aircraft which is sustained during the Policy period while the Aircraft is within the Continental limits of the United States of America (excluding Alaska), Canada, or the Republic of Mexico, or is being transported between ports thereof, and is owned, maintained and used for the purpose stated as applicable thereto in the Declarations.

 

5.       TWO OR MORE AIRCRAFT

When two or more Aircraft are insured hereunder the terms of this Policy shall apply separately to each.

 

EXCLUSIONS

 

THIS POLICY DOES NOT APPLY:-

(a)     to loss of use, depreciation, or deterioration; nor to any damage which is due and confined to wear and tear, freezing, mechanical, structural, electrical, hydraulic or pneumatic breakdown or failure, but this exclusion shall not apply to (1) other loss or damage covered by this Policy resulting from such wear and tear, freezing, mechanical, structural, electrical, hydraulic or pneumatic breakdown, (2) such loss or damage by wear and tear, freezing, mechanical, structural, electrical, hydraulic or pneumatic breakdown or failure which results directly from other loss covered by this Policy.

 

AVN 16  6.11.56