Work of Art Clause
Notwithstanding anything contained herein, This policy is extended to cover loss of or damage to fine arts and collectible objects of every description including but not limited to paintings, drawings, prints, rare books and manuscripts, rugs, tapestries, antique furniture, sculpture, ceramics, but excluding jewelry, jade, gemstones, precious stones, precious metals, bullion, furs, watches, gold or silver objects
These objects can be owned by the Insured, property offered as gifts, partially owned property, and property for which the Insured have agreed to insure prior to loss.
Basis of Settlement shall be the cost of restoring and repairing to a condition substantially the same as before the damage plus any reduction in market value caused by the damage. Subject always to a maximum amount not exceeding the market value immediately prior to the loss. When restoration or repair is not possible, the Basis of Settlement shall be the market value immediately before the damage.
Amount payable under this clause shall not exceed in the aggregate USD………