OBJECT OF INSURANCE

EUROINS insures: locomotives, coaches and freight wagons, rail tankers, subway garnitures and their additional equipment such as: sound systems, hatches, panels and advertising inscriptions, luggage, sofas, chairs, curtains, etc.

 INSURED RISKS

RISK OF DAMAGE

EUROINS shall indemnify the Insured, for damage or destruction of the rolling stock or parts of it, including accessories and additional equipment, listed and attached to the policy, due to events that occurr independently of the Insured’s willand due to the following risks: collision, turnover, scratches, falls, fire, lightning, explosion, damage caused by falling rocks or stones, damage caused during loading or unloading operations.

RISK OF THEFT AND VANDALISM

Burglary or attemptive burglary or robbery of the rolling stock or its parts/accessories, as well as the damage due to burglary or attempted bulgrary to the storage room, property of the insured, where the rolling stock was held in.

 TERITORIALITY

The insurance is valid within the teritorial limits of Romania, if the insurance policy does not provide otherwise.

 LIABILITY PERIOD

Insurance period is usually 12 months but not less than 6 months.

 THE SUM INSURED

Rolling stock is insured at its fair/real value on inception date of the insurance, thus understood as: the value as new, corrected by depreciation coeficients in accordance with the age of the rolling stock (number of years from the date of operation until the issuing of the policy), according to scale of depreciation or the value resulting from the evaluation in accordance to the International Valuation Standards (IVS) developed by the International Valuation Standards Comity (IVSC) - 8^th edition of 2007, and the rules and practical recommendations developed by the National Association of Evaluators Romania – ANEVAR.

If the purchase invoice price of the rolling stock is in lei, the insurance be issued:

a. in lei;

b.  in euros, and the value of the purchase invoice will be converted to euros by applying the exchange rate announced by the NBR as of the date mentioned in the invoice.

 THE INSURANCE PREMIUM

Insurance premiums are paid in advance and in full or in maximum 4 installments.

 INSURED’S OBLIGATIONS

To pay the insurance premium under the terms of the contract of insurance and pay premium installments at their due dates.