Page 115 - Bay Union - Platinum Policy Wording
P. 115

Sec on 8 – Motor vehicle
○ Retail value for vehicles mean the value that the vehicle can generally be bought for, from a recognised member of the motor vehicle trade industry. This value is obtained from the Auto Dealer’s Guide published by TransUnion Auto (Pty) Ltd, or any similar publica on approved by us and adjusted for mileage and condi on. Where no provision is made in such publica ons, the average value given by three independent motor industry sources of our choice will be used. All these amounts are VAT-inclusive.
○ What are accessories?
An accessory is an addi on to your vehicle which does not enhance the performance or change the structure of
the vehicle.
– Factory-  ed accessories are those standard-issued items which are originally   ed by the manufacturer of the vehicle.
– Op onal vehicle accessories are those items which are chosen by you to be   ed by the manufacturer.
– Non-factory-  ed/a er-market vehicle accessories are those items which are   ed to the vehicle where the value of such items are not included in the retail value which are purchased separately post- manufacture of the vehicle.
We provide automa c cover for non-factory-  ed/a er-market accessories up to the limit stated in the schedule at no addi onal cost.
Should you require addi onal cover for accessories which are not factory-  ed or op onal vehicle accessories included in the retail value of the vehicle we will list the accessories in your schedule and charge an addi onal premium.
○ What are motor vehicle modi ca ons?
Motor vehicle modi ca ons are altera ons made to the manufacturer’s standard body, engine, suspension, wheels or paintwork of your vehicle which may a ect its performance, value, safety or appearance. Examples of modi ca ons include modi ed:
– engines, for example increased capacity
– body shape and body kits
– performance exhaust systems
– suspension
– fuel systems, for example LPG
– performance-enhancing 'chips', for example Chipbox and Dustec.
Vehicle modi ca ons are not automa cally covered as part of your vehicle and you must tell us about them as this may a ect our decision to insure you. If we agree to insure vehicle modi ca ons as part of your vehicle, we will list the modi ca on in your schedule. An extra premium and an addi onal vehicle excess may apply. If a vehicle modi ca on is not listed in your schedule, it is not covered.
Bay Union – Pla num Policy Wording – 24 October 2016 113

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