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(1) Permanently installed in the covered "auto" at the time of the"loss"or removable from a housing unit <br /> that is permanently installed in the covered "auto"; and <br /> (2) Designed to be solely operated by use from the power from the"auto's"electrical system; and <br /> (3) Physical damage coverages are provided for the covered"auto". <br /> If the "loss" occurs solely to audio, visual or data electronic equipment or accessories used with this <br /> equipment, then our obligation to pay for, repair, return or replace damaged or stolen property will be <br /> reduced by a$100 deductible. <br /> 16. LOAN/LEASE GAP COVERAGE (Not Applicable In New York) <br /> A. Paragraph C. Limit Of Insurance of SECTION III — PHYSICAL DAMAGE COVERAGE is amended by <br /> adding the following: <br /> The most we will pay for a"total loss"to a covered"auto" owned by or leased to you in any one"accident" <br /> is the greater of the: <br /> 1. Balance due under the terms of the loan or lease to which the damaged covered "auto" is subject at <br /> the time of the"loss"less the amount of: <br /> a. Overdue payments and financial penalties associated with those payments as of the date of the <br /> "loss"; <br /> b. Financial penalties imposed under a lease due to high mileage, excessive use or abnormal wear <br /> and tear; <br /> c. Costs for extended warranties, Credit Life Insurance, Health, Accident or Disability Insurance <br /> purchased with the loan or lease; <br /> d. Transfer or rollover balances from previous loans or leases; <br /> e. Final payment due under a "Balloon Loan"; <br /> f. The dollar amount of any unrepaired damage which occurred prior to the "total loss"of a covered <br /> "auto"; <br /> g. Security deposits not refunded by a lessor; <br /> h. All refunds payable or paid to you as a result of the early termination of a lease agreement or as a <br /> result of the early termination of any warranty or extended service agreement on a covered "auto"; <br /> i. Any amount representing taxes; <br /> j. Loan or lease termination fees; or <br /> 2. The actual cash value of the damage or stolen property as of the time of the "loss". <br /> An adjustment for depreciation and physical condition will be made in determining the actual cash value <br /> at the time of the"loss". This adjustment is not applicable in Texas. <br /> B. Additional Conditions <br /> This coverage applies only to the original loan for which the covered "auto"that incurred the"loss"serves <br /> as collateral, or lease written on the covered "auto"that incurred the"loss". <br /> Page 6 of 9 ©2017 Liberty Mutual Insurance AC 85 01 06 18 <br /> Includes copyrighted material of Insurance Services Office, Inc.,with its permission. <br />