STRAUB DISTRIBUTING CO. (2) - 2017

Home Browse Search

the theft amid ending. regardless of the policy's expiration, when. the covered "auto" is returned to use or tine pay for its EXTRA EXPENSE STOLEN AUTOS We will pay up to $1,000 for the expense of returtung a stolen covered "auto' to you. We will pay otily for those covered "autos" for which you carry Comprehensive or Specified Causes of Loss Coverage. HIRED CAR PHYSICAL DAMAGE COVERAGE For purposes of this section, the term "auto" is redefined to mean a land motor vehicle, "trailer" or semitrailer with a gross vehicle weight wider 20,000 pounds designed for travel on public roads. but does not include "inobile equiptent." If Connprehensive. Specified Causes of Loss or Collision coverage is provided to all owned autos by this policy, you may extend that coverage to apply to Physical Damage "loss" to hired "autos." We will provide coverage equal to the minimum coverage available to any covered "auto" shown in the Declarations. But, the most we will pay for "loss" to a lured "auto" hi any one "accident" is the lesser of: .1. $50,000, or 2. The actual cash value of the clantaged or stolen property as of the time of the "lass: ' or 3. The actual cost of repairing or replacirig the damaged or stolen property with other property of like kind or quality A part is of life k intd amid quality when. it is of equal or better condition than the pre -accident part, We will use the original equipment from the manufacturer when: a) The operational safety of the vehicle might otherwise be impaired, b) Reasonable and diligent efforts to locate the appropriate rebuilt, afterniarket or used part have been wusuccessfiil, c) A new original equipment part of life kind and quality is available and will result in the lowest overall repair cost, d) For vehicles insured under policies written on or before December 31, 2003, the vehicle has been used no more than 15,000 miles wniless the pre - accident condition warrants otherwise: or e) For vehicles insured raider policies written on or after January 1. 2001, the vehicle .has been used no more than 20,000 miles unless the pre -accident condition warrants otherwise. FPICO200 (12-11) For each hired "auto" our obligation to pay "loss" will be reduced by a deductible equal to the highest deductible applicable to any owned "auto" for that coverage. No deductible will be applied to '"loss" caused by fire or lightning. We will also pay up to $500 per "accident'° for loss of use of the lured `"auto" if it results from an "accident" for which you are legally liable. The lessor must suffer Ti actual financial "loss" for this coverage to apply. Hired Car Physical Damage Coverage provided by this extension is excess over any other collectible insurance. LOAN/LEASE GAP COVERAGE For purposes of this section. the term "auto" is redefined to mean a land motor vehicle. "trailer" or semitrailer with a gross vehicle weight tender 20,000 pounds designed for travel on public roads. but does not include "mobile equipment," if a long-term leased or financed "-,into" is a covered "auto" for the Physical Damage Coverage applicable to a total "loss," and the lessor or fi ancial 'institution is an additional insured under thus Coverage Part. we will pay up to a nnaximum of $15.000 the difference between amounts you owe the lessor or financial hnstittition under the lease or loan terms and the amount of insurance paid the lessor or frriancial institution for the total "loss" of the covered "auto' nnnin us: any payments overdue at the time of the loss, any financial penalties imposed due to wear and tear, high mileage or similar charges: any security deposits not refunded by the lessor or financial institution; any costs for credit life, health and accidcu.t, or disability hnsurance; any costs for extended warranties, or any carry-over balances front previous leases or loans. You are responsible for the deductible applicable to the "loss' for the covered "auto". This coverage is excess insurance over any other collectible hnsimuice or lease Provision. PERSONAL EFFECTS COVERAGE We `gill pay up to $400 for "loss` to wearing apparel and Other personal cffects, which are: 1. Owned by at ""insured;" and 2. Inn or on your covered "auto:" in the event of a total theft "loss" of your covered "auto," No deductibles apply to Personal Effects 0o\Vage, RENTAL REIMBURSEMENT C%41 gAgAq 1. We will pay for rental rei� l��ennent by you for the rental of al'Tauto° CC o a covered "auto." Payment applies in �fte otheniy.ise applicable amount of� you have ou a covered "auto." No de tifff� to Rental Reimbursettcat Coveraa n Inctudas cupyrightcd material of ISO Properties. Inc, witty ifs pea'ntissioai Page 2 of 3