D.T.V. Hull Clauses 1978.docVIP

PICC PC DTV HULL CLAUSES 1978 (As amended in April 1984) (Original text in German which shall take precedence) 1 Relationship to the German General Rules of Marine Insurance (ADS) The DTV Hull Clauses take precedence over the ADS. 2 Period of Insurance 2.1 The insurance commences and expires on the dates mentioned. This applies also to a vessel which is en route at the time when the insurance expires in accordance with Article 68 ADS. 2.2 The Assured may, however, submit a declaration to Underwriters before expiry of the insurance to the effect that the insurance be extended in the event that the vessel is en route when the insurance expires and sustains indemnifiable damage impairing her seaworthiness. The extension expires as soon as the repairs have been carried out or - if repairs are not carried out immediately - when the damage has been ascertained. 3 Insurable Value The agreed hull valuation shall be considered as the insurable value and comprises the vessel, the mechanical equipment, appurtenances and installations. 4 Appurtenances and Installations 4.1 Appurtenances are included in the insurance even if these are not the property of the Assured. 4.2 Equipment is covered against partial loss or damage only if caused by fire or explosion. 5 Parts removed from the vessel Parts of the insured vessel and her appurtenances, which are temporarily removed from the vessel, remain insured. Any other existing insurance shall take precedence over this insurance. 6 Insurances on Disbursements and Freight 6.1 Additional insurances for shipowners account are permitted as follows: up to 15 % of the hull valuation on disbursements and equipment and up to 20 % of the hull valuation on freight. Amounts insured on equipment and freight not at risk shall be deemed to be covered on disbursements. 6.2 In the event of total loss, Underwriters are entitled to demand a declaration of all additional insurances taken out for shipowners account. 6.3 If additional insurances are cover