Page 133 - Commercial - Underwriting Mandates & Guidelines Binder

Motor Traders
Internal and external cover
Description
Notes
Rates
Premium calculation
Vehicle hire
Daily limits:
a) R250
b) R500
a) .5%
b) .75%
Base premium x rate
Social, domestic and pleasure Use
Special-type vehicles
Tools of trade
Riot and strike
Unauthorised use of vehicles
Drivers to be specified on the policy schedule
Cover is extended to include special type vehicles
Cover is extended to include tools of trade
Outside RSA and Namibia
Used by employees without Insured’s permission
R1 500 p/p
.035%
.035%
.010%
.175%
Number of specified drivers x R1 500
Base premium x rate
Base premium x rate
Base premium x rate
Base premium x rate
All
5.6 Optional limitations
Description
Deletion of demonstration risk
Discount allowed/rate
Restrictions/excluded cover
Extensions available
Third party, fire and theft only cover
35% discount
a) Sub-section A is restricted to loss or damage
resulting from fire, self-ignition, lightning, explosion or theft
b) Sub-section C is excluded
a) Contingent liability
b) Legal liability of passengers
c) Special type vehicles
d) Tools of trade
Internal risks only
60% discount
Cover is restricted to the premises of the Insured
a) Vehicle hire
b) Vehicles hoists/ramps
c) Special type vehicles
d) Tools of trade
External risks only
30% discount
Cover is restricted to away from the Insured’s premises
a) Contingent liability
b) Vehicle hire
c) Legal liability of passengers
d) Riot and strike
e) Social, domestic and pleasure use
f) Special type vehicles
g) Tools of trade
h) Unauthorised Use by Employee
Third party only cover (rate applies to limit of liability selected)
.09%
a) Sub-section A is excluded
b) Sub-section C is excluded
None
Sub-section A (Basic) Sub-section B (Basic)
10% of claim minimum R5 000 R2 500
25% discount
Demonstration of vehicles is excluded
First Amount(s) Payable
Description
FAP
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022
131