Page 184 - Agriculture Policy Wording Binder

SUB-SECTION A – LOSS OR DAMAGE
DEFINED EVENTS
1. Loss of or damage:
MOTOR
to any vehicle described in the Schedule, including its accessories and spare parts whilst therein or thereon.
2. Additional costs
In addition, the Company will pay for:
2.1 protection and removal:
the cost of protection and removal to the nearest repairers if such vehicle is disabled by reasons of any loss or damage insured hereby;
2.2 storage:
the cost of storage at the nearest yard, place of safety or repairers if such vehicle is disabled by reasons of any loss or damage insured hereby;
2.3 delivery after repair:
the cost of delivery to the Insured, after repair of such loss or damage, to the permanent address of the Insured per the following territorial scope:
Republic of South Africa, Namibia, Botswana, Lesotho, Eswatini (formerly Swaziland), Zambia, Zimbabwe, Malawi or Mozambique;
2.4 emergency repairs:
the Insured may give instructions for emergency repairs to be executed without the previous consent of the Company;
PROVIDED THAT:
a detailed estimate is first obtained and forwarded to the Company;
PROVIDED THAT:
the Company shall not be responsible to pay more than R40 000 (forty thousand rand) in the aggregate any one event per vehicle in respect of 2.1, 2.2, 2.3 and 2.4 above.
3. Limit of indemnity
The limit of indemnity for each type of vehicle is as stated in the Schedule and shall be the maximum amount payable by the Company.
4. Repair, reinstate or replace
4.1 The Company may, at its own option and discretion, repair, reinstate or replace the vehicle or any part thereof and/or its accessories and spare parts therein or thereon or may pay in cash the amount of the loss or damage not exceeding the amount stated in the Schedule and/or the reasonable retail value, including any specified accessories, whichever is the lesser.
4.2 If the Company replaces or reinstates such vehicle the Company shall have the option to take ownership of the vehicle.
5. Reasonable retail value
The reasonable retail value of the vehicle and its factory fitted accessories and spare parts at the time of such loss or damage shall be determined by the current Auto Dealers Guide or Commercial Vehicle Guide.
Motor
Page | 182 Policy Wording – Agriculture – Binder – Version 2 2023