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c. The market value of your damaged vehicle, <br />not including any furnishings, parts or equip- <br />ment not installed by the manufacturer or <br />manufacturer's dealership. <br />This coverage applies only to a covered "auto" <br />of the private passenger, light truck or medium <br />truck type (20,000 Ibs or less gross vehicle <br />weight) and does not apply to initiation or set up <br />costs associated with loans or leases. <br />TWO OR MORE DEDUCTIBLES <br />Under SECTION III - PHYSICAL DAMAGE COV- <br />ERAGE, if two or more "company" policies or cover- <br />age forms apply to the same accident, the following <br />applies to paragraph D. Deductible: <br />a. If the applicable Business Auto deduct- <br />ible is the smaller (or smallest) deduct- <br />ible it will be waived; or <br />b. If the applicable Business Auto deduct- <br />ible is not the smaller (or smallest) de- <br />ductible it will be reduced by the amount <br />of the smaller (or smallest) deductible; <br />or <br />c. If the loss involves two or more Busi- <br />ness Auto coverage forms or policies <br />the smaller (or smallest) deductible will <br />be waived. <br />For the purpose of this endorsement <br />"company" means: <br />a. Safeco Insurance Company of America <br />b. American States Insurance Company <br />c. General Insurance Company of America <br />d. American Economy Insurance Company <br />e. First National Insurance Company of <br />America <br />f. American States Insurance Company of <br />Texas <br />g. American States Preferred Insurance <br />Company <br />h. Safeco Insurance Company of Illinois <br />LOAN/LEASE GAP COVERAGE <br />Under paragraph C - LIMIT OF INSURANCE of <br />SECTION III - PHYSICAL DAMAGE COVERAGE, <br />the following is added: <br />4. The most we will pay for a total "loss" in any one <br />"accident" is the greater of the following, subject <br />to a $1,500 maximum limit: <br />CA 71 10 03 07 <br />a. Actual cash value of the damaged or stolen <br />property as of the time of the "loss", less an <br />adjustment for depreciation and physical <br />condition; or <br />b. Balance due under the terms of the loan or <br />lease that the damaged covered "auto" is <br />subject to at the time of the "loss", less any <br />one or all of the following adjustments: <br />(1) Overdue payment and financial <br />penalties associated with those <br />payments as of the date of the <br />"loss". <br />(2) Financial penalties imposed under a <br />lease due to high mileage, exces- <br />sive use or abnormal wear and tear. <br />(3) Costs for extended warranties, Cre- <br />dit Life Insurance, Health, Accident <br />or Disability Insurance purchased <br />with the loan or lease. <br />(4) Transfer or rollover balances from <br />previous loans or leases. <br />(5) Final payment due under a "Balloon <br />Loan". <br />(6) The dollar amount of any <br />un-repaired damage that occurred <br />prior to the "total loss" of a covered <br />"auto". <br />(7) Security deposits not refunded by a <br />lessor. <br />(8) All refunds payable or paid to you <br />as a result of the early termination <br />of a lease agreement or any war- <br />ranty or extended service agree- <br />ment on a covered "auto". <br />(9) Any amount representing taxes. <br />(10) Loan or lease termination fees <br />GLASS REPAIR - WAIVER OF DEDUCTIBLE <br />Under paragraph D. - DEDUCTIBLE of SECTION III <br />- PHYSICAL DAMAGE COVERAGE, the following is <br />added: <br />No deductible applies to glass damage if the glass is <br />repaired rather than replaced. <br />AMENDED DUTIES IN THE EVENT OF ACCI- <br />DENT, CLAIM, SUIT OR LOSS <br />The requirement in LOSS CONDITION 2.a. - <br />DUTIES IN THE EVENT OF ACCIDENT, CLAIM, <br />SUIT OR LOSS - of SECTION IV - BUSINESS <br />AUTO CONDITIONS that yyou mush o -fin <br />NIP.,0VED T- <br />Page 3 of 6 <br />?_7?11SA E. S-CORCK <br />Flccictani pity Att0!^r"°' S 7?