Page 154 - Hollard Business Branch Policy Wording

Motor Traders Risk
MOTOR TRADERS RISK
1. SUB-SECTION A – LOSS OR DAMAGE
DEFINED EVENTS
1. Loss of or damage
to any vehicle as de ned in De ni ons arising in the course of the Insured's business including its accessories and spare parts whilst therein or thereon but excluding (unless supplied by the manufacturer when new) car radios, tape players, compact disc players or any sound equipment, and occurring whilst the vehicle is:
1.1 on the road;
1.2 temporarily garaged during the course of a journey elsewhere, other than in or on any business premises owned and/or occupied by the Insured, anywhere in the Republic of South Africa, Namibia, Botswana, Lesotho, Swaziland, Zimbabwe, Zambia, Mozambique and Malawi;
1.3 within or about the premises of the Insured as speci ed in the Schedule.
2. Addi onal costs
In addi on, the Company will pay for:
2.1 protec on and removal:
the cost of protec on 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 a er repair:
the cost of delivery to the Insured, a er repair of such loss or damage, to the permanent address of the Insured in the Republic of South Africa, Namibia, Botswana, Lesotho, Swaziland, Zambia, Zimbabwe, Malawi or Mozambique;
2.4 emergency repairs:
the Insured may give instruc ons for emergency repairs to be executed without the previous consent of the Company;
PROVIDED THAT:
a detailed es mate is rst 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 loss of or damage to any vehicle is as stated in the Schedule and shall be the maximum amount payable by the Company in respect of such loss or damage but shall not exceed:
3.1 the reasonable retail value of the vehicle, its accessories and spare parts therein or thereon at the me of such loss or damage; or
3.2 the value as stated in the books of the dealer re ec ng the purchase price of such vehicle plus expenses paid in order to improve the condi on or to maintain roadworthiness of such vehicle.
Hollard Business Policy – Branch – Version 1 2018 Page | 153