Lubrication Oil & Refrigerant Clause

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, and subject to the Insured having paid the agreed extra premium, the Insurers shall indemnify the Insured for loss of lubricating oil or refrigerant in the insured machineries contained in the specification of the Policy,
caused by an indemnifiable accident to the above items, subject to
- a separate sum insured being provided in the specification of the Policy for the lubricating oil or the refrigerant
- a deduction of proper depreciation according to the average life expectancy indicated by the manufacturer or otherwise to be determined at the time of the loss