The sum insured should equal to the cost of replacement of the same kind and capacity via cost of replacement
including freight, dues and custom duties plus cost of erection.
If the sum insured is less than the amount required to be insured at the time of loss (i.e. under-insurance),
you are deemed to be self-insuring the difference. The average condition will apply in the event of a claim.
Every item if more than one shall be subject to this condition separately.
Contribution condition – If at the time any claim arises under the Policy there is any other insurance covering
the same loss, damage or liability, we shall not be liable to pay or contribute more than its ratable proportion
of any claim for such loss, damage or liability