1934年1月1日协会更换保险条款（Institute Replacement Clause (1/1/34)）
   
    In the event of loss of or damage to any part or parts of an insured machine caused by a peril covered by the Policy the sum recoverable shall not exceed the cost of replacement or repair of such part or parts plus charges for forwarding and refitting, if incurred, but excluding duty unless the full duty is included in the amount insured, in which case loss, if any, sustained by payment of additional duty shall also be recoverable.
    Provided always that in no case shall the liability of Underwriters exceed the insured value of the complete machine.
   如果承保机器的任何部件或另件因本保险单某种承保危险造成灭失或损害，赔偿总额将不超过更换或修理此种部件或另件的费用，加上可能发生的运输和安装的花费。但不包括关税，除非保险金额包括了全部关税，在此种情况下，由于支付附加关税而遭受的损失亦可获得赔偿。