b) Excluded Items – Extended W
arranty Insurance does not cover the following items and services: automobiles, motorboats,
airplanes and other motorized vehicles, and parts and accessories thereof; services; dealer and assembler warranties,
normal wear and tear, used and pre-owned items, including demos, normal course of play, negligence, misuse and abuse,
inherent product defects, willful acts or omission and improper installation or alteration, ancillary costs, and any repair or
replacement that would not have been covered under the Manufacturer’s Warranty.
4. ADDITIONAL TERMS, CONDITIONS AND RESTRICTIONS APPLICABLE TO PURCHASE SECURITY &
EXTENDED WARRANTY INSURANCE
a) Limits of Liability – Indemnication for Loss under Purchase Security Insurance is limited to $1,000 per Insured per
loss (even if the loss involves more than one Insured Item) and is further subject to the terms, conditions and exclusions
of the Policy and set forth in this Certicate. Indemnication for Loss under Extended Warranty Insurance is limited to a
maximum of $10,000 per Insured Item (up to a maximum of $25,000 per Insured per policy year for all losses and for all
items combined and is further subject to the terms, conditions and exclusions of the Policy and set forth in this Certicate.
The Insured is entitled to receive the lesser of: the cost of repairs; the actual cash value immediately prior to the loss; the
Purchase Price of the Insured Item; or the Insured’s credit limit as authorized by the Business. Claims for Insured
Items belonging to and purchased as a pair or set will be paid for at the full Purchase Price of the pair or set providing
that the parts of the pair or set are unusable individually and cannot be replaced individually. Where parts of a pair or set
are usable individually, liability will be limited to payment equal to a proportionate part of the Purchase Price that the
number of lost, stolen or damaged parts bear to the number of parts in the complete pair or set. The Company, at its sole
option, may elect to (a) repair, rebuild, or replace the item lost, stolen or damaged (whether in whole or in part) or (b) pay
cash for said item, not exceeding the Purchase Price thereof and subject to the exclusions, terms and limits of liability as
stated in the Policy.
b) Exclusions – Losses resulting from fraud, abuse, hostilities of any kind (including war, invasion, rebellion, or insurrection),
conscation by authorities, risks of contraband, illegal activities, willful acts or omissions, normal wear and tear, normal
course of play, ood, earthquake, radioactive contamination, inherent product defect, items consumed in use, or mysterious
disappearance (used herein to mean disappearance in an unexplained manner marked by an absence of evidence of the
wrongful act of another) are not covered under Purchase Security & Extended Warranty Insurance nor are incidental and
indirect damages including bodily injury, punitive or exemplary damages and legal expenses.
Losses for any unauthorized charges to the Card by the Cardholder; any items which are charged to the card without the
approval of the Business and/or which do not benet the Business directly or indirectly in whole or in part.
5. OTHER INSURANCE
The insurance extended by the Company is issued strictly as excess coverage and does not apply as contributing insurance.
This Policy is not a substitute for Other Insurance and covers Insureds only to the extent a permitted claim for an Insured
Item exceeds the coverage of Other Insurance. This Policy also provides coverage for the amount of the deductible of Other
Insurance. The coverage afforded by the Company takes effect only when the limits of the Other Insurance have been
reached and paid to the Insured regardless of whether the Other Insurance contains provisions purporting to make the
coverage of such Other Insurance non-contributory or excess.
6. SUBROGATION
As a condition to the payment of any claim to an Insured under the Policy, the Insured shall, upon request, transfer the
damaged item to the Company and assign to the Company all legal rights which the covered person has against all other
parties for the loss. The Insured shall give the Company all such assistance as the Company may reasonably require to secure
its rights and remedies, including the execution of all documents necessary to enable the Company to bring suit in the name
of the Insured.
7. BENEFITS TO INSURED ONLY
This protection shall insure only to the benet of the Insured. No other person or entity shall have any right, remedy or claim,
legal or equitable, to the benets. The Insured shall not assign these benets without prior written approval of the Company.
Permission is granted for the Insured to transfer benets on gifts as provided in the program description and the Policy.
8. DUE DILIGENCE
The Insured shall use diligence and do all things reasonable to avoid or diminish any loss of, theft of or damage to property
protected by Purchase Security & Extended Warranty Insurance. The Company will not unreasonably apply this provision to
avoid claims under the Policy. Where damage or loss is due to a malicious act, burglary, robbery, theft or attempt thereat, or
is suspected to be so due, the Insured shall give immediate notice to the police or other authorities having jurisdiction. The
Company will require evidence of such notice with the Loss Report prior to settlement to a claim.
9. FALSE CLAIM
If an Insured makes any claim knowing it to be false or fraudulent in any respect, such Insured shall no longer be entitled to
the benets of these protections nor to the payment of any claim made under the Policy.
10. LEGAL ACTION
Every action or proceeding against an insurer for the recovery of insurance money payable under the contract is absolutely
barred unless commenced within the time set out in the Insurance Act (or other applicable legislation) in the Insured’s
province or territory of residence.
11. SANCTIONS
The Company shall not provide any coverage or be liable to provide any indemnity or payment or other benet under this
certicate which would breach economic, nancial, or trade sanctions imposed under the laws of Canada, the European Union,
the United Kingdom or any other applicable jurisdiction.
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