Physical Damage Coverage Clause Samples
The Physical Damage Coverage clause defines the insurance protection provided for damage to or loss of insured property, such as vehicles or equipment, resulting from covered events like accidents, theft, or natural disasters. This coverage typically pays for repairs or replacement of the damaged property, subject to policy limits and deductibles, and may include both collision and comprehensive components. Its core function is to ensure that the policyholder is financially protected against unexpected physical damage, thereby reducing the risk of significant out-of-pocket expenses.
Physical Damage Coverage. This is an optional coverage under which we will pay you for damage to a covered automobile on an actual cash value basis in excess of the applicable deductible stated in the Information Pages. Automobile Physical Damage Coverage, if elected, will extend to hired automobiles, but is excess over any other available coverage or insurance.
Physical Damage Coverage. The Insurer will indemnify the Insured for direct physical loss, damage, or destruction to Insured Property caused solely and directly by an Incident which occurs during the Policy Period.
Physical Damage Coverage. ● Minimum Limit: $80,000.00 ● This policy must cover damages to Go for Ro's rental vehicles in the event of an accident. ● Example 1: If you rent a 3-ton grip truck and it is damaged in an accident, this coverage will pay for the repairs. ● Example 2: If you hit another vehicle with the 3-ton grip truck, Automobile Liability Coverage will pay for the damages to the other party. ● Requirement Exception: This coverage is not required if your rental order does not include a vehicle.
Physical Damage Coverage a. until 30 days after a proof of loss is filed with us;
b. until the amount of loss is determined as provided in this policy; and
c. except during the first twelve months after the loss. Your bankruptcy or insolvency will not change or relieve us of any of our obligations under this policy.
Physical Damage Coverage. Section 1 -- Insuring Agreements
Physical Damage Coverage. All-risk physical damage coverage, insuring the Hotel and its contents for its full replacement cost. If the Hotel is damaged or destroyed, and unless a mortgagee requires otherwise, the proceeds of any insurance will be used to repair or restore the Hotel in accordance with your plans that we approve. Your insurance must contain a waiver of subrogation in our favor and the favor of our affiliates and subsidiaries, the officers, directors, agents and employees of us, our affiliates and subsidiaries.
Physical Damage Coverage. INSURING AGREEMENT-
Physical Damage Coverage. WE will pay for covered direct and accidental loss or damage resulting in physical contact to YOUR insured car. This includes YOUR insured car’s equipment, which was purchased and installed as standard or optional factory equipment from the manufacturer of the car. YOUR deductible applies to each accident or loss. WE may pay the loss in money, or repair or replace a damaged or stolen car. WE will not pay for depreciation, mileage, or loss of value to YOUR insured car, caused by a covered loss. WE will pay the cost of repairs based on a competitive estimate approved by US, or an estimate written by US based on competitive prices charged by licensed repair shops in the area where the car is to be repaired. WE may keep all or part of YOUR insured car, upon payment to YOU of its’ agreed or appraised value. YOU may not abandon the damaged car to US. WE may at any time before the loss is paid or the car replaced, return YOUR insured car, at OUR expense, to YOU, or to the address shown on the Declarations page, and repair, or pay YOU for any resulting damage. If YOUR insured car is stolen, commencing 48 hours after YOU report the theft to the police, WE will pay YOUR rental car or taxi cab expense up to $10 per day for a maximum of 30 days. This coverage ends when YOUR insured car is recovered, or until we offer to pay YOU for the car. You must provide US with written proof of YOUR cost of transportation.
Physical Damage Coverage. INSURING AGREEMENT - COMPREHENSIVE AND COLLISION COVERAGE
1 . impact with an animal (including a bird); 2 . explosion or earthquake;
3 . fire;
4 . malicious mischief or vandalism; 5 . missiles or falling objects;
6 . riot or civil commotion; 7 . theft or larceny;