Orange County NC Website
Browse       Search
Page 6 of 9 Includes material copyrighted by Insurance Services Office, Inc., with <br />its permission <br />CA 83 63 03 23 <br />K. Total Theft of a Covered Auto <br />Section III – Physical Damage Coverage, Paragraph A.4. is amended to add the following: <br />d. Total Theft of a Covered Auto <br />In the event of the total theft of a covered “auto”: <br />(1) Coverage includes personal items in the covered “auto” at the time of loss up to a maximum of $500. No <br />deductible applies to this coverage. <br />(2) We will pay reasonable expenses for returning the stolen covered “auto” to you once it is recovered, up <br />to a maximum of $1,000. No deductible applies to this coverage. <br />L. Auto Loan / Lease Gap Protection <br />Section III – Physical Damage Coverage, Paragraph A.4. is amended to add the following: <br />e. Auto Loan / Lease Gap Coverage <br />In the event of a total “loss” of a covered “auto” shown in the Declarations for which Physical Damage <br />Coverage is provided, we will provide coverage for any unpaid amount due on the lease or loan for such <br />covered “auto”, less the following: <br />(1) The amount paid under the Physical Damage Coverage Section of the Policy for that covered “auto”; and <br />(2) Any: <br />(a) Overdue or any deferred lease or loan payments 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, Health, Accident or Disability Insurance <br />purchased with the loan or lease; and <br />(e) Carry-over balances from previous loans or leases. <br />M. Customization Coverage <br />Section III – Physical Damage Coverage, Paragraph A.4. is amended to add the following: <br />f. Customization Coverage <br />(1) We will pay with respect to a covered “auto” for “loss” to automobile customization which includes special <br />carpeting and insulation, height - extended roofs and custom murals, paintings, vinyl wraps or other <br />details or graphics. <br />(2) Our limit of liability for “loss” to automobile customizations in any one “loss” shall be the least of: <br />(a) The actual cash value of the stolen or damaged property; <br />(b) The amount necessary to repair or replace the property; or <br />(c) $2,000. <br />This Coverage Extension does not apply to electronic equipment. <br />27