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before making a claim under this Transit <br />Coverage. We will not make payment until <br />you grant us the right of recovery against <br />the buyer. <br />d. Loading and Unloading <br />Shipments during loading or unloading and <br />within 500 feet of any transporting <br />conveyance. <br />e. Return Shipments <br />Outgoing shipments which have been <br />rejected by the consignee or are not <br />deliverable, while: <br />(1) In due course of transit, being returned <br />to you; or <br />(2) Up to 10 days after delivery or <br />attempted delivery awaiting return <br />shipment to you. <br />Payment under paragraphs a., b., c., d. and <br />e. above will not increase the Transit <br />Coverage Limit of Insurance. <br />C. Under this Transit Coverage — Property in the <br />Care of Carriers for Hire, we will not pay for: <br />1. Property in the care, custody or control of your <br />salespersons. <br />2. Mail shipments in the custody of the U.S. Postal <br />Service. <br />3. Property of Others for which you are responsible <br />as a: <br />a. Carrier for hire; or <br />b. Carloader, consolidator, broker, freight <br />forwarder, shipping association, or other <br />arranger of transportation. <br />4. Property in or on a motor vehicle you own, lease <br />or operate. <br />D. Limit of Insurance <br />The Limit of Insurance shown in the Declarations for <br />Transit Coverage — Property in the Care of Carriers <br />for Hire is the most we will pay for all physical loss <br />or physical damage in any one occurrence to <br />property insured under this endorsement. <br />Page 2 of 2 <br />E. Deductible <br />We will not pay for physical loss or physical damage <br />in any one occurrence until the amount of physical <br />loss or physical damage exceeds $250. We will <br />then pay the amount of physical loss or physical <br />damage in excess of $250 up to the applicable Limit <br />of Insurance. <br />F. Additional Conditions <br />1. Valuation <br />Property Loss Condition E.5. is deleted and <br />replaced by the following: <br />a. Valuation <br />(1) Property You Own <br />The value of Covered Property will be <br />the amount of invoice plus accrued <br />charges, prepaid charges and charges <br />since shipment; or <br />(2) In the absence of an invoice, the value <br />of Covered Property will be its actual <br />cash value, with proper deduction for <br />depreciation, at the point of destination <br />on the date of expected arrival. <br />b. Property of Others <br />The most we will pay for Covered Property <br />owned by others is the lesser of: <br />(1) Your legal liability for direct physical <br />loss or physical damage to such <br />property; or <br />(2) What we would pay if you had owned <br />the property. <br />2. Impairment of Rights of Recovery <br />We will not pay for physical loss or physical <br />damage, if you impair our rights to recover <br />damages from any carrier for hire. But you may <br />accept from carriers for hire bills of lading, <br />receipts or contracts of transportation which <br />contain a limitation of value. <br />ew cF RAMwagementDMsian <br />Jy/\'x REVIEWED & APPROVED BY.- <br />V"° <br />--� Risk janagement Analyst <br />