Insurance

This is what Rosalba sent me regarding the insurance policy.


RENEWAL NOTICE

Name of Insured
Coco Beach Resort
P.O. Box 1
San Pedro Town, Ambergris Caye, Belize

Policy Number :
30997BQU00M1

Period:
June 1st, 2008 thru May 31st, 2009
Premium:
$ 28,869.60


Total Sum Insured
$ 3,138,000.00
Policy Type :
Fire & Associated Perils including Hurricane
Location: Building "E", Coco Beach Resort, North San Pedro Town, Belize
Description
Sum Insured
Four storey concrete building used as condominium (Building E) $ 3,138,000.00
Assignee: None
Risk Covered: Fire (including bushfire) and lightning
Hurricane, windstorm, rainstorm, tornado, earthquake, volcanic
eruption or tidal wave
Riots, strikes and malicious damage
Aircraft
Explosion
Impact
Flood and burst pipes
Terms &
Conditions: Subject to standard policy terms & conditions including:
1) Belize Jurisdiction only
2) Standard Average Clause – If the value at risk is greater
than the sum insured, the insured shall be considered as
being his own insurer for the difference and shall bear a
rateable proportion of the loss accordingly.
3) Excluding consequential loss of any description, depreciation, wear & tear, pollution,
contamination and mould
4) Policy Excess & Deductibles:
Hurricane, storm, flood, tidal wave or earthquake % of total sum insured per location:
Inland
2% all construction type Private & Commercial risks
Coastal
2% all construction type Private risks
3% all construction type Commercial risks
Cayes
7% Wooden construction
Private & Commercial risks
5% Other construction
Private & Commercial risks


All other claims: $200.00 Private $500.00 Commercial
5) Subject to following conditions, if applicable:
a) Hazardous Goods warranty
b) 4" Pallets warranty
c) Fire Fighting Appliance warranty


WE RECOMMEND THAT YOU REVIEW THE ADEQUACY OF THE SUM INSURED IN ORDER TO AVOID THE OCCURRENCE OF UNDER INSURANCE. PLEASE ASK OUR AGENT FOR ADVICE IN THIS REGARD
This notice is to remind you that the above-mentioned Policy becomes renewable on the date shown hereon. In order to renew the insurance kindly return this notice, together with your remittance for the Premium, payable to RF&G Insurance Company Ltd. or call us at one of our offices and we will arrange for our representative to visit you.

Ref: GH
Agent: 011