ExactCare Value

CAR RENTAL COLLISION COVERAGE

The Company will reimburse up to the Maximum Limit shown in the Schedule, subject to the Deductible, if the Insured rents a vehicle while on a Trip and the vehicle is damaged due to collision, vandalism, windstorm, fire, hail or flood, while in their possession.

The Company will pay the lesser of:

(a) the cost of repairs and rental charges imposed by the rental company while the vehicle is being repaired; or
(b) the Actual Cash Value of the vehicle.

Coverage is provided to the Insured and their Traveling Companion, provided they are a licensed driver and are listed on the rental agreement.

Coverage does not apply in countries or states where the sale of this insurance is prohibited by law.

For purposes of this endorsement, the following definitions apply:

“Actual Cash Value” means the replacement cost of an insured item of property at the time of loss, less the value of physical depreciation as to the item damaged. For purposes of this definition, physical depreciation means a value as determined according to standard business practices.

“Deductible” means the amount of charges that must be incurred by an Insured before benefits become payable.

“Rental Return Date” means the return date listed on the Rental Car Agreement.

“Rental Car Agreement” means the entire contract into which the Insured enters when renting a vehicle from a rental car agency that describes in full all of the terms and conditions of the rental, as well as the responsibility of all parties under the Rental Car Agreement.

“Rented Vehicle” means an automobile or other vehicle designed for use on public roads that the Insured has rented for the period of time shown in a rental car agreement for use on the Trip. Rental Vehicles do not include:

(a) Heavy duty trucks or moving vans;
(b) Campers, trailers, or recreational vehicles;
(c) Motorcycles or motorbikes;
(d) Snowmobiles, kit-cars, or all-terrain vehicles;
(e) Vehicles when used off-road;
(f) Vehicles that are more than 10 years old;
(g) Vehicles that seat more than nine persons, including the driver;
(h) Vehicles that do not have to be licensed or are not legal where used;
(i) Vehicles that are rented for commercial or for-hire purposes, including limousines; and
(j) Vehicles that have a manufacturer’s suggested retail price of more than $75,000.

The following exclusions also apply to Car Rental Collision Coverage:
Unless otherwise provided by this policy benefits will not be provided for any Loss resulting from:

(a) the Insured violates the rental agreement;
(b) any obligation the Insured assumes under any agreement except insurance collision deductible;
(c) failure to report the Loss to the proper local authorities (when loss exceeds the Deductible) and the rental car company;
(d) damage to any other vehicle, structure, or person as a result of a covered Loss;
(e) participation in contests of speed, motor sport or motor racing including training or practice for the same;
(f) driving under the influence of alcohol;
(g) a rental from any source other than a state or government appointed and licensed rental car provider (where applicable).