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1. The amount paid under the PHYSICAL (a) $60,000 <br /> DAMAGE COVERAGE section of the policy; (b) The actual cash value of the damaged <br /> and or stolen property as of the time of the <br /> 2. Any: "loss"; or <br /> a. Overdue lease/loan payments at the time of (c) The cost of repairing or replacing the <br /> the"loss"; damaged or stolen property with other <br /> b. Financial penalties imposed under a lease property of like kind and quality. <br /> for excessive use, abnormal wear and tear (2) An adjustment for depreciation and physical <br /> or high mileage. condition will be made in the event of a total <br /> c. Security deposits not returned by the lessor; "loss". <br /> d. Costs for extended warranties, Credit Life (3) We may deduct for betterment for parts <br /> Insurance, Health, Accident or Disability normally subject to repair and replacement <br /> Insurance purchased with the loan or lease; during the useful life of the "auto". In this <br /> and event, deductions shall be limited to the <br /> lesser of: <br /> e. Carry-over balances from previous loans or (a) An amount equal to the proportion that <br /> leases. the expired life of the part to be repaired <br /> H. Glass Repair—Waiver Of Deductible or replaced bears to the normal useful <br /> SECTION III — PHYSICAL DAMAGE COVERAGE, life of the part; or <br /> D. Deductible is amended by adding the following: (b) The amount which the resale value of <br /> No deductible for a covered "auto" will apply to glass the "auto" is increased from the repair or <br /> replacement. <br /> damage if the glass is repaired rather than replaced. <br /> I. Personal Effects Coverage (4) A deductible equal to the highest Physical <br /> Damage deductible applicable to any owned <br /> The following is added to SECTION III — PHYSICAL auto will apply. <br /> DAMAGE COVERAGE, A. Coverage, 4. Coverage <br /> Extensions: (5) This Coverage Extension will not apply to: <br /> c. Personal Effects Coverage (a) Any "auto" that is hired, rented or <br /> borrowed with a driver; or <br /> In the event of a total theft loss of your covered (b) Any "auto" that is hired, rented or <br /> "auto we will pay up to $400 for"loss" to wearing <br /> apparel and other personal effects which are: borrowed from your"employee". <br /> (1) Owned by an "insured"; and K. Hired Auto Physical Damage— Loss Of Use <br /> (2) In or on your covered "auto"; The following is added to SECTION II — COVERED <br /> AUTOS LIABILITY COVERAGE, A.2. Coverage <br /> No deductible applies to Personal Effects Extensions: <br /> Coverage. e. We will pay sums which you legally must pay to <br /> J. Hired Auto Physical Damage Coverage the lessor of a covered "auto" which you have <br /> leased without a driver for thirty (30) days or less <br /> The following is added to SECTION III — PHYSICAL for the lessor's loss of use of the covered "auto", <br /> DAMAGE COVERAGE, A. Coverage, 4. Coverage <br /> Extensions: provided: <br /> d. Hired Auto Physical Damage Coverage (1) This insurance provides comprehensive, <br /> specified causes of loss or collision covered <br /> If hired "autos" are covered "autos" for Liability on the covered "auto"; <br /> Coverage and this policy also provides Physical (2) The loss of use results from the covered <br /> Damage Coverage for an owned "auto", then the "auto" being damaged in an "accident" while <br /> Physical Damage Coverage is extended to you are leasing it. <br /> "autos" that you hire, rent or borrow subject to <br /> the following: We will pay up to a maximum limit of$1,500 for <br /> (1) The most we will pay for "loss" in any one <br /> this covered extension. <br /> "accident" to a hired, rented or borrowed L. Hired Car—Worldwide Coverage <br /> "auto" is the lesser of: The following is added to SECTION II — COVERED <br /> AUTOS LIABILITY COVERAGE, A.2. Coverage <br /> Extensions: <br /> PPA 300WA 03 13 Page 3 of 5 <br />