Common use of Insurance Terms and Conditions Clause in Contracts

Insurance Terms and Conditions. 4.1. Part I – External damage to the vehicle, fire, explosion; hijacking of the subject of insurance (theft, burglary, robbery), or attempted hijacking except for exclusions indicated in the given Terms and Conditions‌ 4.1.1. The Insurer shall pay insurance indemnification within the scope of sum insured, considering (deducting) deductible in cases, when damage or destruction of the insured vehicle or any part thereof is caused by risks set forth in 4.1 paragraph of this Agreement. 4.1.2. In case of destruction (total loss) or hijacking of the vehicle, the insurance indemnification is calculated by the following rule: 4.1.2.1. The Insurer may choose to indemnify the Insured/Beneficiary replacement value of the insured vehicle, either by: • paying the sum not exceeding the market value of the insured vehicle; or • purchasing a vehicle of model, brand and other parameters similar to the insured vehicle specified in the application in favor of the Insured. At the same time, in the cases aforesaid the Insurer shall retain the right to choose the less costly version. 4.1.3. In case of destruction (total loss), the Insured is entitled to offset premium due (if applicable) from an indemnification in full. 4.1.4. In case of destruction (total loss), if the Insurer reimburses the cost of transportation (evacuation) of the Insured vehicle (damaged as a result of an insured event) to the vehicle repairs, such sums will be deducted from the insurance indemnification payable by the Insurer, except cases when the insured vehicle market value appears to be less than the Sum Insured (in such case the Insurer will reimburse cost of transportation (evacuation) within GEL 1000, however not more than the Sum Insured). 4.1.5. In case of partial damage, the following procedure for payment of the insurance indemnification shall be applied to: 4.1.5.1. When the Insured vehicle age exceeds 3 (three) years, the Insurer and the Insured agree to assess the loss jointly, by representatives of the parties, after the insured event has been confirmed. The Assessment is carried out by either of the methods listed herein, mainly: (1) Insured present cost estimation required for vehicle repair (restoration), if the Insurer does not agree with the cost estimation presented, he shall fairly adjust the cost estimation via his authorized expert, taking into consideration depreciation and other important conditions; or (2) the Insurer presents the cost estimation prepared by the authorized vehicle repairs to the Insured. At the same time, if a wheel rim(s) (damaged as a result of an insured event) does not hinder safe use of the insured vehicle, the Insurer will indemnify the cost of repair/restoration of the damaged rim. 4.1.5.2. In case, the age of the vehicle does not exceed 3 (three) years, the vehicle is bought in the authorized auto center/service center of Georgia and is under the full warrantee thereof, and the Insured requests repairing works and/or cost estimations to be done by the specific auto center/service center, the Insurer is entitled to transfer the indemnification payable for the benefit of the Insured/Beneficiary, directly to such an auto center/service center. Besides, if the wheel rim(s) of the insured vehicle is damaged as a result of an insured accident so that the existing damage does not hinder safe use of the insured vehicle, the insurer will indemnify the cost of repair / restoration of the damaged rim(s) and If such service is not available at an authorized auto center / service center, the cost of repair / restoration shall be determined by another repair center. 4.1.5.3. In case of partial damage, additionally, one time and within one insurance event, the Insurer reimburses the cost of transportation (evacuation) of the Insured vehicle (damaged as a result of an insured event) to the agreed vehicle repairs, consequently, the Sum Insured shall be reduced by such sums. 4.1.5.4. If the parts of vehicle have damaged or lost because of theft or attempted theft of the insured vehicle, the same deductible (nonreimbursable minimum) is applied as it is set forth for the theft risk (if any deductible is not applicable to the relevant Insurance Policy specifically for partial theft risk). 4.1.5.5. For eliminating any concerns, the Insured request for the specific auto center/service center service, will be fulfilled by the Insurer only in case, the age of the vehicle does not exceed 3 (three) years, the vehicle is bought in the authorized auto center/service center of Georgia and is under the full warrantee thereof. 4.1.6. If the Insurer and the Insured fail to reach agreement on final volume of loss, the loss shall be estimated by an independent, accredited expert. The costs of the loss estimation shall be covered by that party who initiates such assessment, in case of joint initiative, the costs are shared equally. 4.1.7. If the amount of sum insured is less than the market price (insurable value) of the insured vehicle for the occurrence of insured event, the Insurer shall indemnify the loss pursuant to correlation of sum insured and insurable value.

Insurance Terms and Conditions. 4.1. Part I – External damage to the vehicle, fire, explosion; hijacking of the subject of insurance (theft, burglary, robbery), or attempted hijacking except for exclusions indicated in the given Terms and Conditions‌Conditions 4.1.1. The Insurer shall pay insurance indemnification within the scope of sum insured, considering (deducting) deductible in cases, when damage or destruction of the insured vehicle or any part thereof is caused by risks set forth in 4.1 paragraph of this Agreement. 4.1.2. In case of destruction (total loss) or hijacking of the vehicle, the insurance indemnification is calculated by the following rule: 4.1.2.1. The Insurer may choose to indemnify the Insured/Beneficiary replacement value of the insured vehicle, either by: • paying the sum not exceeding the market value of the insured vehicle; or • purchasing a vehicle of model, brand and other parameters similar to the insured vehicle specified in the application in favor of the Insured. At the same time, in the cases aforesaid the Insurer shall retain the right to choose the less costly version. 4.1.3. In case of destruction (total loss), the Insured is entitled to offset premium due (if applicable) from an indemnification in full. 4.1.4. In case of destruction (total loss), if the Insurer reimburses the cost of transportation (evacuation) of the Insured vehicle (damaged as a result of an insured event) to the vehicle repairs, such sums will be deducted from the insurance indemnification payable by the Insurer, except cases when the insured vehicle market value appears to be less than the Sum Insured (in such case the Insurer will reimburse cost of transportation (evacuation) within GEL 1000, however not more than the Sum Insured). 4.1.5. In case of partial damage, the following procedure for payment of the insurance indemnification shall be applied to: 4.1.5.1. When the Insured vehicle age exceeds 3 (three) years, the Insurer and the Insured agree to assess the loss jointly, by representatives of the parties, after the insured event has been confirmed. The Assessment is carried out by either of the methods listed herein, mainly: (1) Insured present cost estimation required for vehicle repair (restoration), if the Insurer does not agree with the cost estimation presented, he shall fairly adjust the cost estimation via his authorized expert, taking into consideration depreciation and other important conditions; or (2) the Insurer presents the cost estimation prepared by the authorized vehicle repairs to the Insured. At the same time, if a wheel rim(s) disk (damaged as a result of an insured event) does not hinder safe use of the insured vehicle, the Insurer will indemnify the cost of repair/restoration of the damaged rimdisk. 4.1.5.2. In case, the age of the vehicle does not exceed 3 (three) years, the vehicle is bought in the authorized auto center/service center of Georgia and is under the full warrantee thereof, and the Insured requests repairing works and/or cost estimations to be done by the specific auto center/service center, the Insurer is entitled to transfer the indemnification payable for the benefit of the Insured/Beneficiary, directly to such an auto center/service center. BesidesAt the same time, if the a wheel rim(s) of the insured vehicle is disk (damaged as a result of an insured accident so that the existing damage event) does not hinder safe use of the insured vehicle, the insurer Insurer will indemnify the cost of repair / repair/restoration of the damaged rim(s) and If such service is not available at an authorized auto center / service center, the cost of repair / restoration shall be determined by another repair centerdisk. 4.1.5.3. In case of partial damage, additionally, one time and within one insurance event, the Insurer reimburses the cost of transportation (evacuation) of the Insured vehicle (damaged as a result of an insured event) to the agreed vehicle repairs, consequently, the Sum Insured shall be reduced by such sums. 4.1.5.4. If the parts of vehicle have damaged or lost because of theft or attempted theft of the insured vehicle, the same deductible (nonreimbursable minimum) is applied as it is set forth for the theft risk (if any deductible is not applicable to the relevant Insurance Policy specifically for partial theft risk). 4.1.5.5. For eliminating any concerns, the Insured request for the specific auto center/service center service, will be fulfilled by the Insurer only in case, the age of the vehicle does not exceed 3 (three) years, the vehicle is bought in the authorized auto center/service center of Georgia and is under the full warrantee thereof. 4.1.6. If the Insurer and the Insured fail to reach agreement on final volume of loss, the loss shall be estimated by an independent, accredited expert. The costs of the loss estimation shall be covered by that party who initiates such assessment, in case of joint initiative, the costs are shared equally. 4.1.7. If the amount of sum insured is less than the market price (insurable value) of the insured vehicle for the occurrence of insured event, the Insurer shall indemnify the loss pursuant to correlation of sum insured and insurable value.

Insurance Terms and Conditions. 4.1. Part I – External damage to the vehicle, fire, explosion; hijacking of the subject of insurance (theft, burglary, robbery), or attempted hijacking except for exclusions indicated in the given Terms and Conditions‌Conditions 4.1.1. The Insurer shall pay insurance indemnification within the scope of sum insured, considering (deducting) deductible in cases, when damage or destruction of the insured vehicle or any part thereof is caused by risks set forth in 4.1 paragraph of this Agreement. 4.1.2. In case of destruction (total loss) or hijacking of the vehicle, the insurance indemnification is calculated by the following rule: 4.1.2.1. The Insurer may choose to indemnify the Insured/Beneficiary replacement value of the insured vehicle, either by: •  paying the sum not exceeding the market value of the insured vehicle; or •  purchasing a vehicle of model, brand and other parameters similar to the insured vehicle specified in the application in favor of the Insured. At the same time, in the cases aforesaid the Insurer shall retain the right to choose the less costly version. 4.1.3. In case of destruction (total loss), the Insured is entitled to offset premium due (if applicable) from an indemnification in full. 4.1.4. In case of destruction (total loss), if the Insurer reimburses the cost of transportation (evacuation) of the Insured vehicle (damaged as a result of an insured event) to the vehicle repairs, such sums will be deducted from the insurance indemnification payable by the Insurer, except cases when the insured vehicle market value appears to be less than the Sum Insured (in such case the Insurer will reimburse cost of transportation (evacuation) within GEL 1000, however not more than the Sum Insured). 4.1.5. In case of partial damage, the following procedure for payment of the insurance indemnification shall be applied to: 4.1.5.1. When the Insured vehicle age exceeds 3 (three) years, the Insurer and the Insured agree to assess the loss jointly, by representatives of the parties, after the insured event has been confirmed. The Assessment is carried out by either of the methods listed herein, mainly: (1) Insured present cost estimation required for vehicle repair (restoration), if the Insurer does not agree with the cost estimation presented, he shall fairly adjust the cost estimation via his authorized expert, taking into consideration depreciation and other important conditions; or (2) the Insurer presents the cost estimation prepared by the authorized vehicle repairs to the Insured. At the same time, if a wheel rim(s) disk (damaged as a result of an insured event) does not hinder safe use of the insured vehicle, the Insurer will indemnify the cost of repair/restoration of the damaged rimdisk. 4.1.5.2. In case, the age of the vehicle does not exceed 3 (three) years, the vehicle is bought in the authorized auto center/service center of Georgia and is under the full warrantee thereof, and the Insured requests repairing works and/or cost estimations to be done by the specific auto center/service center, the Insurer is entitled to transfer the indemnification payable for the benefit of the Insured/Beneficiary, directly to such an auto center/service center. BesidesAt the same time, if the a wheel rim(s) of the insured vehicle is disk (damaged as a result of an insured accident so that the existing damage event) does not hinder safe use of the insured vehicle, the insurer Insurer will indemnify the cost of repair / repair/restoration of the damaged rim(s) and If such service is not available at an authorized auto center / service center, the cost of repair / restoration shall be determined by another repair centerdisk. 4.1.5.3. In case of partial damage, additionally, one time and within one insurance event, the Insurer reimburses the cost of transportation (evacuation) of the Insured vehicle (damaged as a result of an insured event) to the agreed vehicle repairs, consequently, the Sum Insured shall be reduced by such sums. 4.1.5.4. If the parts of vehicle have damaged or lost because of theft or attempted theft of the insured vehicle, the same deductible (nonreimbursable minimum) is applied as it is set forth for the theft risk (if any deductible is not applicable to the relevant Insurance Policy specifically for partial theft risk). 4.1.5.5. For eliminating any concerns, the Insured request for the specific auto center/service center service, will be fulfilled by the Insurer only in case, the age of the vehicle does not exceed 3 (three) years, the vehicle is bought in the authorized auto center/service center of Georgia and is under the full warrantee thereof. 4.1.6. If the Insurer and the Insured fail to reach agreement on final volume of loss, the loss shall be estimated by an independent, accredited expert. The costs of the loss estimation shall be covered by that party who initiates such assessment, in case of joint initiative, the costs are shared equally. 4.1.7. If the amount of sum insured is less than the market price (insurable value) of the insured vehicle for the occurrence of insured event, the Insurer shall indemnify the loss pursuant to correlation of sum insured and insurable value.