Page 166 - Hollard Business Branch Policy Wording

Motor Fleet
MOTOR FLEET
1. SUB-SECTION A – LOSS OR DAMAGE
DEFINED EVENTS
1. Loss of or damage:
to any vehicle as disclosed to the Company, including its accessories and spare parts whilst therein or thereon.
2. Addi onal costs
In addi on, event 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, Zimbabwe, Zambia, 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 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 op on and discre on, repair, reinstate or replace such 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, whichever is the lesser.
4.2 If the Company replaces or reinstates such vehicle the Company shall have the op on to take ownership of the vehicle.
5. Reasonable retail value
The reasonable retail value of the vehicle and its accessories and spare parts therein or thereon at the me of such loss or damage shall be determined by the current Auto Dealers Guide or Commercial Vehicle Guide.
Hollard Business Policy – Branch – Version 1 2018 Page | 165