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F. Fellow Employee Coverage SECTION II -- COVERED AUTOS LIABIL- ITY COVERAGE, Exclusion B.S. does not apply if you have workers compensation in- surance in -force covering all of your em- ployees. G. Auto Loan Lease Gap Coverage SECTION III — PHYSICAL DAMAGE COV- ERAGE, C. Limit Of Insurance, is amend- ed by the addition of the following: In the event of a total "loss" to a covered "auto" shown in the Schedule of Declara- tions, we will pay any unpaid amount due on the lease or loan for a covered "auto" less: 1. The amount paid under the PHYSICAL DAMAGE COVERAGE section of the policy; and 2. Any: a. Overdue lease/loan payments at the time of the "loss"; b. Financial penalties imposed under a lease for excessive use, abnormal wear and tear or high mileage. c. Security deposits not returned by the lessor; d. Costs for extended warranties, Credit Life Insurance, Health, Acci- dent or Disability Insurance pur- chased with the loan or lease; and e. Carry-over balances from previous loans or leases. H. Glass Repair-- Waiver Of Deductible SECTION III — PHYSICAL DAMAGE COV- ERAGE, D. Deductible is amended by add- ing the following: No deductible for a covered "auto" will apply to glass damage if the glass is repaired ra- ther than replaced. Personal Effects Coverage The following is added to SECTION III - PHYSICAL DAMAGE COVERAGE, A. Coverage, 4. Coverage Extensions: c. Personal Effects Coverage for "loss" to wearing apparel and other personal effects which are: (1) Owned by an "insured"; and (2) In or on your covered "auto"; No deductible applies to Personal Ef- fects Coverage. J. Hired Auto Physical Damage Coverage The following is added to SECTION III - PHYSICAL DAMAGE COVERAGE, A. Coverage, 4. Coverage Extensions: d. Hired Auto Physical Damage Cover- age If hired "autos" are covered "autos" for Liability Coverage and this policy also provides Physical Damage Coverage for an owned "auto", then the Physical Damage Coverage is extended to "au- tos" that you hire, rent or borrow subject to the following: (1) The most we will pay for "loss" in any one "accident" to a hired, rented or borrowed "auto" is the lesser of: (a) $60, 000 (b) The actual cash value of the damaged or stolen property as of the time of the "loss"; or (c) The cost of repairing or replac- ing the damaged or stolen prop- erty with other property of like kind and quality. (2) An adjustment for depreciation and physical condition will be made in the event of a total "loss". (3) If repair or replacement results in better than like kind or quality, we will not pay for the betterment. (4) A deductible equal to the highest Physical Damage deductible appli- cable to any owned auto will apply. (5) This Coverage Extension will not apply to: (a) Any "auto" that is hired, rented or borrowed with a driver; or In the event of a total theft loss of your (b) Any "auto" that is hired, rented covered "auto" we will pay up to $400 or borrowed from your "employ- ee", Contractors Bonding and Insurance Company RAU 300 01 17 Contains copyrighted material of Page 3 of 6 Insurance Services Office, Inc., with its permissi [AyPPRaVE#7 Cynthia Mora at 7:47 am, Nov 25, 2024.