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<br />BUILDERS RISK COVERAGE <br /> <br />Insurer <br />Hiscox Inc on behalf of Certain Underwriters at L10yds of London (Syndicate 3624) <br />Non- Admitted Insurer in Florida <br />Best's Rated A XV <br /> <br />1 <br /> <br />Perils Insured: <br /> <br />All risks of direct physical loss of or damage to property insured while at the <br />location of the insured project, while in offsite storage or offsite fabrication or while <br />in transit, all within the policy territory and occurring during the term of this policy <br />(Subject to the terms, exclusions, limitations and conditions contained in or <br />endorsed to the policy, coverage is provided against) <br /> <br />- 1, <br /> <br />Total Insured Value: $3,777,866 Scheduled Any One Occurrence (Not Blanket) * <br /> <br />1 <br /> <br />* <br /> <br />Coverage Limits must be ultimately chosen by the Insured. We as Agents cannot <br />recommend the adequate limit of protection. Higher limits may be available. Please <br />let us know if a quote is desired. <br /> <br />Coverages: Builders Risk (New Construction of Fishing Pier & Restaurant) <br /> <br />Project Description: New construction of a non combustible fishing pier and restaurant. <br /> <br />Property Insured: Permanent Works - All materials, supplies, equipment, machinery, and other <br />property of a similar nature, being property of the Insured or of others for which the <br />Insured may be contractually responsible, including the value for incidental <br />demolition of existing structures, site preparation, assembly or fabrication on or <br />offsite, installation or erection, alteration, renovation or construction of the insured <br />project. <br /> <br />Temporary works - All scaffolding, form work, fences, shoring, hoarding, false <br />work and temporary buildings all incidental to the project, the value of which has <br />been declared by the Named Insured. <br /> <br />Valuation: <br /> <br />Property Under Construction - Cost to repair or replace the property lost or <br />damaged at the time and place of loss with material of like kind and quality less <br />betterment including contractor's profit and overhead and including owner's indirect <br />expenses to the extent declared as part of the TOTAL COMPLETED VALUE*, but <br />in no event to exceed the Limit of Liability; if not so replaced then loss shall be <br />settled on the basis of Actual Cash Value with proper deduction for depreciation. <br /> <br />Temporary Works - The actual cash value of the lost or damaged property valued <br />as of the time and place of loss <br /> <br />2 <br />