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Comprehensive and Collision Coverages are extended to "autos" you, your partner (if you are a <br />partnership), a member (if you are a limited liability company), or your "employee" lease, hire, or rent <br />without a driver, for the purpose of conducting your business. <br />1. This coverage does not apply unless: <br />a. Hired "autos" are covered for Liability Coverages under the Business Auto Coverage Form, <br />b. Comprehensive and Collision coverages are provided under the Business Auto Coverage <br />Form for an "auto" you own or lease, <br />c. The leased, hired, or rented "auto" is the subject of a written contract in the name of the <br />insured for a period of 30 days or less and requires that you provide Comprehensive and/or <br />Collision coverage; and <br />d. The weight of the leased, hired, or rented, "auto" does not exceed 26,000 pound gross <br />combined vehicle weight. <br />2. The most we will pay for `loss" to any leased, hired, or rented "auto" in any one "accident' is the <br />lesser of: <br />a. The actual cash value of the damaged or stolen property as of the time of 'loss' <br />b. The cost of repairing or replacing the damaged or stolen property with other property of like <br />kind and quality; or <br />c. $50,000 per vehicle. <br />3. Our obligation to pay for repairing or replacing the damaged or stolen property will be reduced by a <br />$500 deductible. <br />4. The most we will pay is $100,000 annual aggregate for losses within the applicable policy period as <br />shown in the Declarations. <br />5. An adjustment for depreciation and physical condition will be made in determining actual cash value <br />in the event of a total 'loss". <br />6. If a repair or replacement results in better than like kind or quality, we will not pay for the amount of <br />the betterment. <br />I. AUTO LOAN/LEASE GAP COVERAGE <br />Under SECTION III — PHYSICAL DAMAGE COVERAGE, Paragraph AA., Coverage Extensions, the <br />following is added: <br />d. Auto Loan/Lease Gap Coverage <br />In the event of a total 'loss" to a covered "auto" you own or lease, we will pay any unpaid amount due on <br />the loan or lease for a covered "auto," less: <br />1. The amount paid under the Physical Damage Coverage Section of the policy; <br />2. The applicable deductible; and <br />3. Any: <br />a. Overdue loan/lease payments, penalties, taxes, interest or charges resulting from overdue <br />payments or lease termination fees at the time of the 'loss'; <br />b. Financial penalties imposed under a lease for excessive use, abnormal wear and tear or high <br />mileage; <br />c. Security deposits not returned by the lessor; <br />d. Costs for extended warranties, Credit Life Insurance or any other insurance purchased with the <br />loan or lease; <br />e. Carry-over balances from previous loans or leases or increases to your loan balance occurring <br />after the date of purchase, and <br />f. Amount by which your original loan balance exceeded the overall purchase or lease price of <br />your covered "auto". <br />CA 133 (01/16) Includes Copyrighted Material of <br />Insurance Services Office, Inc., with its permission. <br />© Insurance Services Office, Inc., 2009 <br />Page 3 of 5 <br />�q` <br />