Page 171 - Hollard Business Policy - Binder

Motor Traders Risk
MOTOR TRADERS RISK
SUB-SECTION A – LOSS OR DAMAGE
DEFINED EVENTS
1. Loss of or damage
to any vehicle as defined in Definitions 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, the Kingdom of Eswatini (formerly Swaziland), Zambia, Zimbabwe, Mozambique and Malawi;
1.3 within or about the premises of the Insured as specified in the Schedule.
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 in the Republic of South Africa, Namibia, Botswana, Lesotho, the Kingdom of 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 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 time of such loss or damage; or
3.2 the value as stated in the books of the dealer reflecting the purchase price of such vehicle plus expenses paid in order to improve the condition or to maintain roadworthiness of such vehicle.
Hollard Business Policy – Binder – Version 8 2024 Page | 169