These limits help keep the price of these policies more affordable. But they can prevent you from recovering the full cost of some items, even if your loss is covered.
A floater can be written to provide coverage for the full value of these items. Do you need a floater for your valuables? Give us a call at , and we can help you decide. Save my name, email, and website in this browser for the next time I comment. Share this on your social media!
Related Posts. A mysterious disappearance clause is a provision in a property, renter's, and homeowner's insurance policy that excludes coverage for a lost item of considerable value if the cause of the loss cannot be sufficiently explained by the insured. It can be a diamond ring, a newly purchased laptop, or an expensive handbag—it's gone but there is no sign of forced entry and the area is exactly as it looked the last time the owner or tenant saw it. The policyholder makes a claim for the lost item but is at a loss for words when it comes to explaining how that item could have possibly disappeared.
That, in essence, is what the insurance industry considers a mysterious disappearance. If this clause is in the policy, the loss will not be covered and the policyholder will not get any money from the insurance company to replace the missing item.
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Arm yourself with what you need to know to keep your assets and your family safe. By: Kaitlyn Kokoska. By: Steven Porrello. If the Premises or the Building of which the Premises are a part should be damaged or destroyed by fire or other peril, Tenant shall promptly give written notice to Landlord.
If the Building of which the Premises are a part should be totally destroyed by any peril, or if they should be so damaged thereby that, in Landlord's reasonable estimation, rebuilding or repairs cannot be completed within days after the date of such damage, this Lease shall terminate and the rent shall be abated during the unexpired portion of this Lease, effective upon the date of the occurrence of such damage.
Business Associate agrees not to retain any copies of the PHI after termination or expiration of the PO to which this Appendix is applicable. If return or destruction of the PHI is not feasible, Business Associate agrees to extend the protections of this Appendix to limit any further use or disclosure until such time as the PHI may be returned or destroyed.
Loss or Destruction Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction, or mutilation of this Warrant Certificate and, in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement or bond satisfactory in form, substance and amount to the Company or, in the case of any such mutilation, upon surrender and cancellation of this Warrant Certificate, the Company at its expense will execute and deliver, in lieu thereof, a new Warrant Certificate of like tenor.
If the Premises or the portion of the Building necessary for Tenant's occupancy is damaged by fire, earthquake, act of God, the elements of other casualty, Landlord shall, subject to the provisions of this Article, promptly repair the damage, if such repairs can, in Landlord's opinion, be completed within 90 ninety days.
If Landlord determines that repairs can be completed within ninety 90 days, this Lease shall remain in full force and effect, except that if such damage is not the result of the negligence or willful misconduct of Tenant or Tenant's agents, employees, contractors, licensees or invitees, the Base Rent shall be abated to the extent Tenant's use of the Premises is impaired, commencing with the date of damage and continuing until completion of the repairs required of Landlord under Section 19d.
Destruction In the event the Premises are destroyed in whole or in part from any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under Paragraph 10, Landlord may, at its option:.
Unless this Lease is terminated as provided herein, Landlord, at its own expense but only to the extent of the insurance proceeds net of all costs and expenses incurred in obtaining same received by Landlord on account thereof , except for any insurance deductibles which shall be deemed Operating Costs , shall proceed with diligence to repair or cause to be repaired such damage so as to restore the Premises including the Initial Tenant Work but excluding any other Tenant Work to substantially the same condition they were in prior to the casualty, subject to then applicable Legal Requirements.
Landlord shall not be liable for delays in the making of any such repairs that are due to government regulation, casualties, strikes, unavailability of labor and materials, delays in obtaining insurance proceeds provided Landlord files insurance claims with reasonable diligence , and other causes beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage.
All repairs to and replacements of Tenant Property and any Tenant Work other than the Initial Tenant Work shall be made by and at the expense of Tenant, which work Tenant shall promptly commence as soon as practicable and thereafter prosecute diligently to completion.
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