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MARINE INSURANCE ACT 1906 - SECT 69

Partial loss of ship.

69. Where a ship is damaged, but is not totally lost, the measure of
indemnity, subject to any express provision in the policy is as follows:

(1)Where the ship has been repaired, the assured is entitled to the reasonable
cost of the repairs, less the customary deductions, but not exceeding the sum
insured in respect of any one casualty:

(2)Where the ship has been only partially repaired, the assured is entitled to
the reasonable cost of such repairs, computed as above, and also to be
indemnified for the reasonable depreciation, if any, arising from the
unrepaired damage, provided that the aggregate amount shall not exceed the
cost of repairing the whole damage, computed above:

(3)Where the ship has not been repaired, and has not been sold in her damaged
state during the risk, the assured is entitled to be indemnified for the
reasonable depreciation arising from the unrepaired damage, but not exceeding
the reasonable cost of repairing such damage, computed as above.

© 1906 Crown Copyright

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