Page 148 - Execuline - Classic Policy Wording

Motorcycle – Comprehensive cover
ADDITIONAL COVER YOU CAN CHOOSE
Check your schedule
The cover in this section applies only if you have specifically asked for it to be included as part of your policy. If you are unsure, please check your schedule.
Paying off your motorcycle
If your motorcycle is a write-off and you are still paying it off, we will settle the amount still outstanding. The amount paid out is calculated as if your credit agreement was an instalment agreement paid in equal instalments over a number of years.
It does not include:
○ any arrear instalments or rentals (payments you may have missed as part of your credit agreement), or any interest still owing on them
○ any premium refunds or recoveries from any insurance policy
○ any higher amounts outstanding as a result of a residual/balloon payment2, credit agreement, or unequal
instalments over the agreement period.
The maximum amount we will pay is the limit of liability that applies to your motorcycle in the schedule.
2 A final payment on a credit agreement that is significantly larger than the usual instalments, and pays off the entire debt.
146 HPL – Execuline – Classic Personal Insurance Policy – 6 July 2015