The insured is required to report tobacco sales at each location and to pay premium based on the amount of reported sales. The report must be filed within thirty days of the close of auction season.

Topics covered: Coverage Property not covered Covered causes of loss Additional coverages Coverage extension Exclusions and limitations Limits of insurance Deductible Loss conditions Additional conditions Definitions

Coverage

We will pay for direct physical loss of or damage to Covered Property at the premises described in the Declarations caused by or resulting from any Covered Cause of Loss.

1.Covered Property

Covered Property, as used in this Coverage Part, means the following type of property for which a Limit Of Insurance is shown in the Declarations:

Tobacco in Sales Warehouses, meaning leaf, loose, scrap and stem tobacco located in the building or structure described in the Declarations:

a.That belongs to others and is in your care, custody or control for auction; or

b.On your leaf account for resale.

Coverage for Tobacco in Sales Warehouses applies only between:

(1)12:01 AM of the 15th day before the opening of the regular auction season at the described premises; and

(2)12:01 AM of the 15th day following the official closing date of the regular auction season at the described premises.

Analysis

The subject of this coverage is tobacco—be it leaf, loose, scrap, or stem. The coverage applies only when the tobacco is in the building or structure described in the declarations. The coverage applies only during the regular auction season and fifteen days before and after.

Property Not Covered