Laserfiche WebLink
4. Loss Payment — Physical Damage <br />Coverages <br />At our option, we may: <br />a. Pay for, repair or replace damaged or <br />stolen property; <br />b. Return the stolen property,at our expense. <br />We will pay for any damage that results to <br />the "auto" from the theft; or <br />c. Take all or any part of the damaged or <br />stolen property at an agreed or appraised <br />value. <br />If we pay for the "loss", our payment will <br />include the applicable sales tax for the <br />damaged or stolen property. <br />5. Transfer Of Rights Of Recovery Against <br />Others To Us <br />If any person or organization to or for whom <br />we make payment under this Coverage Form <br />has rights to recover damages from another, <br />those rights are transferred to us. That <br />person or organization must do everything <br />necessary to secure our rights and must do <br />nothing after "accident" or "loss" to impair <br />them. <br />B. General Conditions <br />1. Bankruptcy <br />Bankruptcy or insolvency of the "insured" or <br />the "insured's" estate will not relieve us of <br />any obligations under this Coverage Form. <br />2. Concealment, Misrepresentation Or Fraud <br />This Coverage Form is void in any case of <br />fraud by you at any time as it relates to this <br />Coverage Form. It is also void if you or any <br />other "insured", at any time, intentionally <br />conceals or misrepresents a material fact <br />concerning: <br />a. This Coverage Form; <br />b. The covered "auto"; <br />c. Your interest in the covered "auto"; or <br />d. A claim under this Coverage Form. <br />3. Liberalization <br />If we revise this Coverage Form to provide <br />more coverage without additional premium <br />charge, your policy will automatically provide <br />the additional coverage as of the day the <br />revision is effective in your state. <br />4. No Benefit To Bailee — Physical Damage <br />Coverages <br />We will not recognize any assignment or grant <br />any coverage for the benefit of any person or <br />organization holding, storing or transporting <br />property for a fee regardless of any other <br />provision of this Coverage Form. <br />5. Other Insurance <br />a. For any covered "auto" you own, this <br />Coverage Form provides primary insurance. <br />For any covered "auto" you don't own, the <br />insurance provided by this Coverage Form <br />is excess over any other collectible <br />insurance. However, while a covered <br />"auto" which is a "trailer" is connected to <br />another vehicle, the Covered Autos Liability <br />Coverage this Coverage Form provides for <br />the "trailer" is: <br />(1) Excess while it is connected to a motor <br />vehicle you do not own; or <br />(2) Primary while it is connected to a <br />covered "auto"you own. <br />b. For Hired Auto Physical Damage Coverage, <br />any covered "auto" you lease, hire, rent or <br />borrow is deemed to be a covered "auto" <br />you own. However, any "auto" that is <br />leased, hired, rented or borrowed with a <br />driver is not a covered "auto". <br />c. Regardless of the provisions of Paragraph <br />a. above, this Coverage Form's Covered <br />Autos Liability Coverage is primary for any <br />liability assumed under an "insured <br />contract". <br />d. When this Coverage Form and any other <br />Coverage Form or policy covers on the <br />same basis, either excess or primary, we <br />will pay only our share. Our share is the <br />proportion that the Limit of Insurance of <br />our Coverage Form bears to the total of <br />the limits of all the Coverage Forms and <br />policies covering on the same basis. <br />6. Premium Audit <br />a. The estimated premium for this Coverage <br />Form is based on the exposures you told <br />us you would have when this policy began. <br />We will compute the final premium due <br />when we determine your actual exposures. <br />The estimated total premium will be <br />credited against the final premium due and <br />the first Named Insured will be billed for <br />the balance, if any. The due date for the <br />final premium or retrospective premium is <br />the date shown as the due date on the bill. <br />If the estimated total premium exceeds the <br />final premium due, the first Named Insured <br />will get a refund. <br />L� <br />If this policy is issued for more than one <br />year, the premium for this Coverage Form <br />will be computed annually based on our <br />rates or premium.-; in effect at the <br />beginning of each <br />CA 00 01 10 13 © Insurance Services Office,lnc., 2011 <br />N_oaa <br />?9 'e'' <br />} r <br />RisleMmVme dDMsfan <br />REVIEWED & APPROVED BY.- <br />f P1. M44441 <br />Risk Management Analyst <br />