Orange County NC Website
Browse       Search
DocuSign Envelope ID: DF078B63-CCED-42B9-8016-A67D8F6DF779 <br /> COMMERCIAL AUTO <br /> CA 30 00 07 14 <br /> Comprehensive or Specified Causes Of Loss (4) Transfer or rollover balances associated <br /> Coverage if the "loss" arises from with prior loans or leases, <br /> such coverage; or (5) Final payment due under a "Balloon <br /> Loan", <br /> b. For which you carry Collision Coverage if the <br /> "loss"arises from such coverage. (6) The dollar amount of any unrepaired <br /> damage which occurred prior to the "total <br /> We will pay only for those expenses incurred during the loss" of a covered "auto", <br /> policy period beginning 24 hours after the "loss" and <br /> ending, regardless of the the policy's expiration, when (7) Security deposits not refunded by the <br /> the covered "auto" is repaired or replaced, or we pay for lessor, <br /> its "loss". This coverage does not apply while there are <br /> spare or reserve "autos" available to you for your (8) All refunds payable or paid to you <br /> operations. The most we will pay for rental resulting from the early termination of <br /> reimbursement expenses is $75 per day with a any warranty or extended service <br /> maximum of$750 per occurrence. agreement on a covered "auto", <br /> K. ELECTRONIC EQUIPMENT— BROADENED (9) Any amount representing taxes, or <br /> COVERAGE <br /> (10) Loan or lease termination fees. <br /> Paragraph 4.c. of Section III— PHYSICAL DAMAGE <br /> COVERAGE, B. EXCLUSIONS is revised by adding This coverage only applies to the original loan <br /> the following: or lease written on a covered "auto". <br /> This exclusion as it relates to electronic equipment that Section V—DEFINITIONS is changed by the <br /> receives or transmits audio, visual or data signals does addition of the following: <br /> not apply if said equipment is permanently installed in a R. "Total loss" means a "loss"where the cost of <br /> covered "auto". <br /> repairs plus the salvage value exceeds the <br /> L. LOAN / LEASE GAP COVERAGE actual cash value. <br /> Section III— PHYSICAL DAMAGE COVERAGE, C. S. "Balloon Loan" means a loan with periodic <br /> Limit Of Insurance is Amended by the addition of the payments that are insufficient to repay the <br /> Following to paragraph 1.: balance over the term of the loan, thereby <br /> requiring a large final payment. <br /> c. Balance due under the terms of the loan or lease M. GLASS REPAIR <br /> which the damaged covered "auto" is subject to at <br /> the time of the "loss" less: Section III— Physical Damage Coverage, D. <br /> (1) Overdue payments and financial penalties Deductible, is replaced by the following: <br /> associated with those payments as of the date D. Deductible <br /> of the "loss", <br /> (2) Financial penalties imposed under a lease due For each covered "auto", our obligation to pay <br /> to high mileage, excessive use, or abnormal for, repair, return, or replace damaged or stolen <br /> wear and tear, property will be reduced by the deductible for the <br /> coverage as shown on <br /> (3) Costs of extended warranties, Credit Life <br /> Insurance, Health, Accident, or Disability <br /> Insurance purchased with the loan or lease, <br /> CA 30 00 07 14 Includes copyrighted material of Insurance Services Office, Inc Page 5 of 6 <br /> with its permission <br />