2015/09/02 Council Agenda Packet

17 a. I he actual cash value of the damaged or b. Additionally, you and any other invo stolen property as of the time of the "insured" must: "loss"; or (1) Assume no obligation, make b. The cost of repairing or replacing the payment or incur no expense witl damaged or stolen property with other our consent, except at the "insure property of like kind and quality. own cost. 2. An adjustment for depreciation and physical (2) Immediately send us copies of condition will be made in determining actual request, demand, order, not cash value in the event of a total "loss." summons or legal paper recei 3. If a repair or replacement results in better than concerning the claim or "suit." like kind or quality, we will not pay for the (3) Cooperate with us in the investiga amount of the betterment. or settlement of the claim or defe D. Deductible against the "suit." For each covered "auto," our obligation to pay for, (a) Authorize us to obtain med repair, return or replace damaged or stolen records or other pertinent informati property will be reduced by the applicable (5) Submit to examination, at deductible shown in the Declarations. Any expense, by physicians of our cho; Comprehensive Coverage deductible shown in as often as we reasonably require. the Declarations does not apply to "loss" caused "loss" by fire or lightning. c. If there is to a covered "auto" or equipment you must also do the foilowii SECT ION iV — BUSINESS AUTO CONDITIONS (1) Promptly the notify police if The following conditions apply in addition to the covered "auto" or any of its equipm Common Policy Conditions: is stolen. A. Loss Conditions (2) Take all reasonable steps to prot 1. Appraisal For Physical Damage Loss the covered "auto" from fug d of you and we disagree on the amount of damage. Also keep a record of ycexpenses "loss," either may demand an appraisal of the "loss." for consideration in 1 settlement of the claim. In this event, each party will select a competent appraiser. The two appraisers will (3) Permit us to inspect the cover select a competent and impartial umpire. The "auto" and records proving the "lo; appraisers will state separately the actual before its repair or disposition. cash value and amount of "loss." 11 they fail to (4) Agree to examinations tinder oath agree, they will submit their differences to the our request and give us a sign umpire. A decision agreed to by any two will statement of your answers. be binding. Each party will 3. Legal Action Against Us a. Pay its chosen appraiser; and NO one may bring a legal action against fa. Sear the other expenses of the appraisal under this Coverage Form until: and umpire equally. a. There has been full compliance with If we submit to an appraisal, we will stili retain the terms of this Coverage Form; and our right to deny the claim_ b. Under Liability Coverage, we agree 2. Duties In The Event Of Accident, Claim, writing that the "insured" has an obligati( Suit Or Loss to pay or until the amount of th We have no duty to provide coverage under obligation has finally been determined I thispalicy unless there has been lute judgment after trial. No one has the rig compliance with the following duties: under this policy to bring us into an actio a.. In the event of "accident," claim, "suit" or to determine the "insured's" liability. "loss," you must give us or our authorized 4. Loss Payment — Physical Damao representative prompt notice of the Coverages accideni" or "loss. inc!.ude: Alt our option v,;e may: and where the "3ccldeni" c. P-�v COr, clr Cr rapla.ce damaged { or `!oS occ trig ;: len i l iii( IaiaL;, _ nal, '? =i - _. i- loon rt _, Cl �- - 4 -, !J i..l -i'�� -�_.<l: 78