# BusinessCarInsurance.co.nz — full Markdown bundle Generated: 2026-05-27T07:27:28.204Z Vertical: business-car Counts: 6 insurers · 5 active products · 5 with ingested wording --- # Insurer summaries # AIG New Zealand — NZ Business Car Insurance **Legal entity:** AIG Insurance New Zealand Limited **Primary website:** https://www.aig.co.nz **RBNZ financial strength rating:** (see RBNZ register) **Brand family:** `aig` ## Active retail products _None on file._ ## Legacy / closed-to-new products - **AIG / Steadfast Commercial Motor** — `aig/commercial-motor` (status: pending) ## Machine-readable endpoints - Insurer JSON: `/api/insurer/aig/facts.json` - Insurer Markdown (this file): `/api/insurer/aig/summary.md` - Per-product (replace `{product}` with a slug above): - `/api/product/aig/{product}/facts.json` — structured policy facts - `/api/product/aig/{product}/summary.md` — human + LLM readable summary - `/api/product/aig/{product}/wording.md` — full markdown policy wording - `/api/product/aig/{product}/history.json` — version history ## Primary sources - AIG New Zealand website: https://www.aig.co.nz - Policy wordings (PDFs): see `source_url` field on each product - RBNZ Financial Strength Register: https://www.rbnz.govt.nz/regulation-and-supervision/insurers/financial-strength-ratings ## Citation Cite as: AIG New Zealand business-car-insurance profile, BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/insurer/aig/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Delta Insurance — NZ Business Car Insurance **Legal entity:** Delta Insurance New Zealand Limited **Primary website:** https://www.deltainsurance.co.nz **RBNZ financial strength rating:** (see RBNZ register) **Brand family:** `delta` ## Active retail products - **Delta NZ Commercial Motor Vehicle (April 2024)** — `delta-insurance/commercial-motor` ## Machine-readable endpoints - Insurer JSON: `/api/insurer/delta-insurance/facts.json` - Insurer Markdown (this file): `/api/insurer/delta-insurance/summary.md` - Per-product (replace `{product}` with a slug above): - `/api/product/delta-insurance/{product}/facts.json` — structured policy facts - `/api/product/delta-insurance/{product}/summary.md` — human + LLM readable summary - `/api/product/delta-insurance/{product}/wording.md` — full markdown policy wording - `/api/product/delta-insurance/{product}/history.json` — version history ## Primary sources - Delta Insurance website: https://www.deltainsurance.co.nz - Policy wordings (PDFs): see `source_url` field on each product - RBNZ Financial Strength Register: https://www.rbnz.govt.nz/regulation-and-supervision/insurers/financial-strength-ratings ## Citation Cite as: Delta Insurance business-car-insurance profile, BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/insurer/delta-insurance/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Dual New Zealand — NZ Business Car Insurance **Legal entity:** DUAL New Zealand Limited **Primary website:** https://www.dualnewzealand.co.nz **RBNZ financial strength rating:** (see RBNZ register) **Brand family:** `dual` ## Active retail products - **DUAL New Zealand Commercial Motor Vehicle (08.23 v2)** — `dual-nz/commercial-motor` ## Machine-readable endpoints - Insurer JSON: `/api/insurer/dual-nz/facts.json` - Insurer Markdown (this file): `/api/insurer/dual-nz/summary.md` - Per-product (replace `{product}` with a slug above): - `/api/product/dual-nz/{product}/facts.json` — structured policy facts - `/api/product/dual-nz/{product}/summary.md` — human + LLM readable summary - `/api/product/dual-nz/{product}/wording.md` — full markdown policy wording - `/api/product/dual-nz/{product}/history.json` — version history ## Primary sources - Dual New Zealand website: https://www.dualnewzealand.co.nz - Policy wordings (PDFs): see `source_url` field on each product - RBNZ Financial Strength Register: https://www.rbnz.govt.nz/regulation-and-supervision/insurers/financial-strength-ratings ## Citation Cite as: Dual New Zealand business-car-insurance profile, BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/insurer/dual-nz/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # NZI — NZ Business Car Insurance **Legal entity:** IAG New Zealand Limited (trading as NZI) **Primary website:** https://www.nzi.co.nz **RBNZ financial strength rating:** (see RBNZ register) **Brand family:** `iag` ## Active retail products - **NZI Steadfast Commercial Motor Vehicle** — `nzi/commercial-motor` ## Machine-readable endpoints - Insurer JSON: `/api/insurer/nzi/facts.json` - Insurer Markdown (this file): `/api/insurer/nzi/summary.md` - Per-product (replace `{product}` with a slug above): - `/api/product/nzi/{product}/facts.json` — structured policy facts - `/api/product/nzi/{product}/summary.md` — human + LLM readable summary - `/api/product/nzi/{product}/wording.md` — full markdown policy wording - `/api/product/nzi/{product}/history.json` — version history ## Primary sources - NZI website: https://www.nzi.co.nz - Policy wordings (PDFs): see `source_url` field on each product - RBNZ Financial Strength Register: https://www.rbnz.govt.nz/regulation-and-supervision/insurers/financial-strength-ratings ## Citation Cite as: NZI business-car-insurance profile, BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/insurer/nzi/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # QBE Insurance NZ — NZ Business Car Insurance **Legal entity:** QBE Insurance (Australia) Limited (New Zealand branch) **Primary website:** https://www.qbe.com/nz **RBNZ financial strength rating:** (see RBNZ register) **Brand family:** `qbe` ## Active retail products - **QBE Steadfast Commercial Motor Vehicle** — `qbe/commercial-motor` ## Machine-readable endpoints - Insurer JSON: `/api/insurer/qbe/facts.json` - Insurer Markdown (this file): `/api/insurer/qbe/summary.md` - Per-product (replace `{product}` with a slug above): - `/api/product/qbe/{product}/facts.json` — structured policy facts - `/api/product/qbe/{product}/summary.md` — human + LLM readable summary - `/api/product/qbe/{product}/wording.md` — full markdown policy wording - `/api/product/qbe/{product}/history.json` — version history ## Primary sources - QBE Insurance NZ website: https://www.qbe.com/nz - Policy wordings (PDFs): see `source_url` field on each product - RBNZ Financial Strength Register: https://www.rbnz.govt.nz/regulation-and-supervision/insurers/financial-strength-ratings ## Citation Cite as: QBE Insurance NZ business-car-insurance profile, BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/insurer/qbe/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Zurich New Zealand — NZ Business Car Insurance **Legal entity:** Zurich Australian Insurance Limited (NZ branch) **Primary website:** https://www.zurich.co.nz **RBNZ financial strength rating:** (see RBNZ register) **Brand family:** `zurich` ## Active retail products - **Zurich NZ Motor Insurance** — `zurich/commercial-motor` ## Machine-readable endpoints - Insurer JSON: `/api/insurer/zurich/facts.json` - Insurer Markdown (this file): `/api/insurer/zurich/summary.md` - Per-product (replace `{product}` with a slug above): - `/api/product/zurich/{product}/facts.json` — structured policy facts - `/api/product/zurich/{product}/summary.md` — human + LLM readable summary - `/api/product/zurich/{product}/wording.md` — full markdown policy wording - `/api/product/zurich/{product}/history.json` — version history ## Primary sources - Zurich New Zealand website: https://www.zurich.co.nz - Policy wordings (PDFs): see `source_url` field on each product - RBNZ Financial Strength Register: https://www.rbnz.govt.nz/regulation-and-supervision/insurers/financial-strength-ratings ## Citation Cite as: Zurich New Zealand business-car-insurance profile, BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/insurer/zurich/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Product summaries # NZI — NZI Steadfast Commercial Motor Vehicle **Vertical:** business-car **Status:** active **Wording effective:** 2020-01-01 **Confidence tier:** verified **Source PDF:** https://baileysinsurance.co.nz/wp-content/uploads/2025/07/NZI-Steadfast-Commercial-Motor-Policy-Wording_01-2020_-_FINAL-Plus-Endorsements.pdf ## Vehicle value basis - **market_default:** yes — 'we will pay you the market value of the insured vehicle' - **agreed_available:** yes — 'Section 1: Optional Policy Extensions – Agreed Value': 'In the event of a total loss covered under Section 1, we will pay the agreed value as specified in the schedule.' - **total_loss_basis:** If we consider the vehicle is a total loss, we will settle your claim by whichever of the following applies: a. we will pay you the market value of the insured vehicle; or b. if the insured vehicle is hired, rented, borrowed or loaned we will pay the market value of that vehicle to a maximum of $250,000; or c. we will replace the insured vehicle as outlined in 'Section 1: Automatic Extensions – New Replacement Vehicle'; or d. if the insured vehicle is leased, we will settle as outlined in 'Section 1: Automatic Extensions – Lease Value'; or e. If 'Section 1: Optional Policy Extensions – Agreed Value' applies, we will pay you in accordance with the terms of that extension. - **sum_insured_indexation:** no — not mentioned in wording ## Excess options (NZD) - **theft:** Where the cause of loss is theft or unlawful conversion or fire (fire not resulting from impact) to the insured vehicle, no excess will apply to the Section 1 claim unless stated in the schedule or payable under any 'Section 1: Automatic Policy Extension' or 'Section 1: Optional Policy Extension'. - **at_fault:** not specified — not mentioned in wording - **standard:** shown in the schedule - **unnamed_driver:** not specified — not mentioned in wording - **fleet_aggregate:** If more than one insured vehicle suffers loss from a single event, only one excess shown in the schedule will apply, being the highest excess, together with any excess payable under any extension in 'Section 1: Automatic Policy Extensions' or 'Section 1: Optional Policy Extensions'. - **under_25_driver:** not specified — not mentioned in wording - **inexperienced_driver:** not specified — not mentioned in wording ## No-claims bonus _Not on file._ ## Claims basis occurrence — cover applies for accidental loss 'occurring anywhere in New Zealand ... during the period of insurance' ## Territorial scope We will insure you for accidental loss to an insured vehicle occurring anywhere in New Zealand, including transit between islands of New Zealand, during the period of insurance. ## Cover tiers in this wording - **0:** comprehensive - **1:** third-party-fire-and-theft - **2:** third-party ## Hire-car cover - **after_theft:** yes — 'Theft Cost – Hire of alternative vehicle': covers necessary and reasonable costs of hiring another vehicle of a similar make and model following theft or unlawful conversion; the cost of the first 7 days of hire is not covered; maximum $5,000 for any one event unless a different amount is shown in the schedule - **daily_cap_nzd:** daily rate shown in the schedule (applies when no similar vehicle is available for hire) - **days_after_at_fault:** covered under optional 'Loss of Use' extension (schedule-stated limit); excess equal to cost of first 7 days hire applies - **days_after_not_at_fault:** covered under optional 'Loss of Use' extension (schedule-stated limit); excess equal to cost of first 7 days hire applies ## Windscreen / glass **Windscreen excess (NZD):** nil — 'If your claim under Section 1 is solely for loss to windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass (including scratching or damage to bodywork resulting solely from broken glass) then no excess applies to this extension, unless otherwise shown in the schedule.' - **side_rear_covered:** yes — 'windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass' are all covered under the Windscreens and Window Glass extension - **no_excess_for_repair:** yes — no excess applies where claim is solely for windscreen/window glass loss (including repair), unless otherwise shown in the schedule ## Driver schedule - **any_driver_cover:** yes — 'There is only cover under this policy when any vehicle insured under this policy is being used by any driver with your consent' - **driver_age_limits:** not specified — no minimum age stated in wording; learner drivers permitted provided 'all requirements of the law are being complied with' (per Unlicensed Drivers exclusion exception) - **named_drivers_required:** no — any driver with insured's consent is covered ## Vehicle types covered _Not on file._ ## Goods in transit - **included:** yes — automatic extension: 'Section 1 is extended to cover loss to goods owned by you, that are being carried on or in an insured vehicle, for the purpose of a single relocation (such as a delivery to a customer's premises or to a warehouse) resulting from loss to an insured vehicle covered under Section 1 of this policy.' - **sub_limit_nzd:** 10000 ## Mobile plant cover Ingestion or Entanglement of Foreign Objects extension covers accidental loss resulting from entry, entanglement or ingestion of any foreign object into any mulching, chipping or agricultural implement or machine, up to $50,000 per event. Hoists, Hydraulic Lifts and Rams extension covers mechanical breakdown or mechanical failure of hoists or hydraulic rams permanently attached to the insured vehicle up to $10,000 per event (excess $500). Off Road Tyre/Track Damage extension covers accidental loss to tyres or tracks fitted to an insured vehicle not principally used for driving on public roads. Section 2 excludes liability from the use of mechanical plant components while used for their designed purpose, except for vehicle-mounted mechanical plant used to load/unload or any fork hoist. ## Hired-in plant Hired In Vehicles (General Policy Extension): If you hire in or rent in a vehicle during the period of insurance and you accept the rental owner's statutory offer of insurance, this extension covers: 1. Liability to third parties for the difference between the amount payable under the statutory offer of insurance and the maximum amount payable under Section 2; 2. The difference between the Section 1 excess under this policy and any deductible that would have been applicable under the rental vehicle owner's insurance. Also: 'Hired in Vehicle – Consequential Loss' (Section 2 automatic extension) covers liability to the owner of a hired/rented vehicle for consequential losses caused by a Section 1 loss, up to $50,000 per event, where you reject the owner's statutory offer of insurance. ## Drive other vehicle Vicarious liability extension (Section 2 automatic): covers your legal liability while any vehicle not belonging to you and not provided by you is being used for your business by any person in your employment, or any vehicle hired in by you is being used for your business by any hired-in or temporary driver. Does not cover loss to that vehicle or property being transported by it, nor liability also covered under other existing insurance. No general 'drive other vehicle' extension for individual named drivers driving vehicles other than the insured vehicle is provided. ## Modifications - **must_be_declared:** yes — 'You must tell us immediately if there are any: a. Modifications to an insured vehicle' and disclosure duty requires disclosure of 'Any non-factory modifications (whether structural, performance or cosmetic) to an insured motor vehicle.' - **performance_mods_excluded:** not explicitly excluded — undisclosed modifications may affect cover via duty of disclosure breach ## Natural disaster cover - **flood_covered:** yes — 'the insured vehicle being partly or fully immersed in a body of water' listed as event reinstating Vehicle Parts cover; natural disaster referenced as covered peril throughout - **storm_covered:** yes — hail, snow, storm or lightning listed as events that reinstate Vehicle Parts cover exclusion exceptions - **volcanic_covered:** yes — covered under 'natural disaster' peril referenced throughout the policy - **earthquake_covered:** yes — 'natural disaster' referenced as a covered peril and as an exception to Vehicle Parts exclusion ## Exclusions - **0:** loss of use of any kind whatsoever, or costs or expenses that result from that loss of use, unless expressly insured - **1:** depreciation or reduction in value - **2:** loss to any drill shaft or bit of any type of drilling rig or machinery whilst being used for the purpose of drilling below ground or surface level - **3:** loss caused by or in connection with the insured vehicle's faulty or defective design, specification or materials (limited to the part immediately affected) - **4:** damage to or destruction of tyres (unless resulting from separate covered loss) - **5:** loss to engine and all engine parts, cooling systems, hydraulic system, transmission system, fuel systems, braking systems, electrical/electronic systems, pumping and vacuuming systems, any fixed plant machinery, underground exploratory devices (unless resulting from fire, overturn, impact/collision, immersion, theft/conversion, malicious damage, hail/snow/storm/lightning, natural disaster, or animal impact) - **6:** loss caused by or in connection with wear and tear; rust or corrosion; action of light and fading - **7:** liability for bodily injury covered by the Accident Compensation Act 2001 - **8:** loss or liability when a vehicle is driven by a person whose breath or blood alcohol exceeds the legal limit - **9:** loss or liability when a vehicle is driven by a person under the influence of any intoxicating substance or drug - **10:** loss or liability when a vehicle is driven by a person who fails or refuses to supply a breath or blood sample as required by law - **11:** loss or liability when a vehicle is driven by a person who fails or refuses to stop, or remain at the scene, following an accident as required by law - **12:** loss or liability arising from use in connection with asbestos in any form - **13:** loss or liability in connection with confiscation, nationalisation, requisition, destruction of, or damage to property by order of any Government, Public or Local Authority (unless to prevent/control accidental loss otherwise covered) - **14:** loss or liability when a vehicle is driven in breach of any enactment or regulation relating to 'Work Time and Log Books' requirements under New Zealand Law - **15:** loss of any electronic data in a computer operating system, programme, software, information repository, microchip, integrated circuit or similar device - **16:** loss or liability in connection with any actual or alleged dishonest, fraudulent, criminal, unlawful, or malicious act or omission - **17:** loss or liability in connection with wilful breach of any statute, contract, or duty - **18:** loss or liability in connection with conduct intended to cause damage, loss, or liability with reckless disregard for the consequences - **19:** loss or liability of any type in connection with nuclear weapons material, ionising radiations or contamination by radioactivity - **20:** loss or liability if the vehicle is loaded or operated contrary to the manufacturer's recommended specifications or contrary to regulations or statute - **21:** loss or liability of any type to the extent that provision of cover would contravene any sanction, prohibition or restriction under any United Nations resolution or trade or economic sanctions - **22:** loss or liability of any type in connection with seepage, pollution or contamination, unless sudden, unintended and unexpected - **23:** loss or liability of any type in connection with any act of terrorism - **24:** loss or liability of any type in connection with any activity, event or occurrence deemed to be unlawful to insure against - **25:** loss or liability if the insured vehicle is driven by any person who does not have a licence in full force and effect, or is not complying with the conditions of their licence - **26:** loss or liability if the vehicle is being used in an unsafe condition - **27:** loss or liability arising from use whilst hired out or leased out to a third party for reward - **28:** loss or liability arising from use on a race track, or for pace making, reliability trials, hill climbs or speed tests, or while being used in preparation for any one of these activities - **29:** loss or liability of any type in connection with war, invasion, act of foreign enemy, hostilities or warlike operations, civil war, civil commotion, military rising, mutiny, rebellion, revolution, insurrection, military or usurped power - **30:** liability determined by any court outside New Zealand - **31:** liability arising directly or indirectly out of the use of any mechanical plant component while it is being used or operated for the purpose for which it was designed (e.g. the operation of a crane or back hoe), except for vehicle-mounted mechanical plant used to load/unload or any fork hoist - **32:** liability for loss to any property that belongs to, or is/was in your care, custody or control (with stated exceptions) - **33:** liability in connection with the transporting of a load to, or away from, the insured vehicle (excluding actual loading or unloading) - **34:** liability for loss to any vehicle that is insured under this policy - **35:** liability for punitive or exemplary damages (except as extended by Exemplary Damages extension) - **36:** liability arising out of a contract or agreement unless you would have been liable even without such contract or agreement - **37:** any legal defence costs, fines or court costs arising from the prosecution of any offence under any Act of Parliament ## Machine-readable endpoints - Facts JSON: `/api/product/nzi/commercial-motor/facts.json` - Summary Markdown (this file): `/api/product/nzi/commercial-motor/summary.md` - Full wording: `/api/product/nzi/commercial-motor/wording.md` - Version history: `/api/product/nzi/commercial-motor/history.json` ## Citation Cite as: NZI NZI Steadfast Commercial Motor Vehicle (NZ), BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/product/nzi/commercial-motor/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # QBE Insurance NZ — QBE Steadfast Commercial Motor Vehicle **Vertical:** business-car **Status:** active **Wording effective:** 2019-01-01 **Confidence tier:** verified **Source PDF:** https://baileysinsurance.co.nz/wp-content/uploads/2025/07/QBE-Steadfast-Commercial-Motor-Vehicle-Wording-QBE-STFTQMV0119.pdf ## Vehicle value basis - **market_default:** yes — default basis of settlement: 'pay the market value of the insured vehicle or the value stated in the vehicle declaration, whichever is the lesser' - **agreed_available:** yes — optional extension: 'Agreed Value — In the event of a total loss covered under Section 1, we will pay the amount specified in the schedule.' - **total_loss_basis:** We will, at our option, settle your claim for loss in one of the following ways: pay the market value of the insured vehicle or the value stated in the vehicle declaration, whichever is the lesser; or if any insured vehicle is subject to the Agreed Value option shown in the schedule then in the event of a total loss, we will pay the Agreed Value sum shown in the schedule; or if the insured vehicle is hired, rented, or borrowed or loaned we will pay the market value of that vehicle to a maximum of $250,000. - **sum_insured_indexation:** no — not mentioned in wording ## Excess options (NZD) - **theft:** Where the cause of loss is theft or fire (fire not resulting from impact) to the insured vehicle, no excess will apply to the Section 1 claim unless stated in the schedule or payable under any Section 1: Automatic Policy Extension or Section 1: Optional Policy Extension. - **standard:** The excess shown in the schedule — specific amounts not stated in wording, set per schedule - **fleet_aggregate:** If more than one insured vehicle suffers loss from a single event, only one excess shown in the schedule will apply, being the highest excess, together with any excess payable under any extension in Section 1: Automatic Policy Extensions or Section 1: Optional Policy Extensions. ## No-claims bonus _Not on file._ ## Claims basis occurrence — cover applies for 'accidental loss to an insured vehicle occurring anywhere in New Zealand ... during the period of insurance' ## Territorial scope Cover applies 'anywhere in New Zealand, including transit between islands of New Zealand, during the period of insurance.' Section 2 liability cover applies 'occurring in New Zealand during the period of insurance.' Exclusion: 'Liability determined by any court outside New Zealand.' ## Cover tiers in this wording - **0:** comprehensive - **1:** third-party-fire-and-theft - **2:** third-party ## Hire-car cover - **after_theft:** Theft Costs automatic extension covers the necessary and reasonable costs incurred by you of hiring another vehicle of a similar make and model; the cost of the first 7 days of hire is not covered; the most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule - **daily_cap_nzd:** The daily rate shown in the schedule (applies where no similar vehicle is available for hire); the most we will pay under this extension for any one insured vehicle is the limit stated in the schedule - **days_after_at_fault:** Loss of Use optional extension: maximum Period of Cover is 90 days; an excess equal to the cost of the first 7 days hire applies to all claims under this extension ## Windscreen / glass **Windscreen excess (NZD):** No excess applies to the Windscreens and Window Glass extension, unless otherwise shown in the schedule. - **side_rear_covered:** yes — 'you are insured for accidental loss to windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass (including scratching or damage to bodywork resulting solely from broken glass)' - **no_excess_for_repair:** No excess applies to this extension, unless otherwise shown in the schedule. ## Driver schedule - **any_driver_cover:** yes — 'There is only cover under this policy when any vehicle insured under this policy is being used by any driver with your consent' - **driver_age_limits:** Not specified in the wording; no minimum age or learner-licence rules stated beyond the general unlicensed driver exclusion and the exception: 'the vehicle is being used for the purpose of teaching a learner to drive, if all requirements of the law are being complied with' - **named_drivers_required:** no — cover applies to any driver with the insured's consent ## Vehicle types covered - **0:** cars - **1:** station wagons - **2:** utilities - **3:** vans - **4:** four-wheel drives - **5:** trucks - **6:** mechanical plant - **7:** vehicles with hoists or hydraulic rams - **8:** vehicles with mulching, chipping or agricultural implements - **9:** drilling rigs - **10:** vehicles transporting goods for reward - **11:** vehicles transporting fare-paying passengers - **12:** vehicles used for airside operations - **13:** unspecified trailers ## Goods in transit - **included:** yes — automatic extension: 'Goods in Transit — If an insured vehicle suffers loss caused by an event covered under Section 1, this extension covers loss directly caused by the same event to goods owned by you carried on or in the insured vehicle at the time of the loss for the specific purpose of a single relocation (such as a delivery to customer's premises or to a warehouse).' - **sub_limit_nzd:** 10000 ## Mobile plant cover Section 1 covers accidental loss to insured vehicles including mechanical plant. The 'Appreciation – Mechanical Plant' extension covers appreciation of market value of mechanical plant up to 25% of the value specified in the vehicle declaration. The 'Ingestion or Entanglement of Foreign Objects' extension covers loss resulting from entry, entanglement or ingestion of any foreign object into any mulching, chipping or agricultural implement or machine up to $50,000 per event. The 'Off Road Tyre/Track Damage' extension covers loss to tyres or tracks fitted to an insured vehicle not principally used for driving on public roads up to $5,000 per period of insurance. Section 2 excludes liability arising from the use of any mechanical plant component while being used for the purpose for which it was designed, except for vehicle mounted cranes used to load/unload and fork hoists. ## Hired-in plant Optional extension 'Hired In Vehicles': If you hire in or rent in a vehicle during the period of insurance and do not accept the rental owner's statutory offer of insurance, this extension covers the hired vehicle as an insured vehicle, whether or not it is a similar substitute vehicle as set out in the definition of insured vehicle; and covers your liability to the owner of that vehicle for consequential losses caused by loss covered under Section 1 (most we will pay $50,000 per event unless different amount shown in schedule). Automatic extension 'Hired In Vehicle – Consequential Loss' also provides cover up to $25,000 per event for consequential losses where statutory offer of insurance is rejected. ## Drive other vehicle Not provided — no Drive Other Vehicle extension identified in the wording. Section 1 covers 'Employees' Vehicles' owned by employees used in the course of the business (subject to conditions). 'Vicarious liability' extension under Section 2 covers liability while any vehicle not belonging to you and not provided by you is being used for your business by any person in your employment, or any vehicle hired in by you is being used for your business by a hired-in or temporary driver. ## Modifications - **must_be_declared:** yes — 'You must tell us immediately if there are any modifications to an insured vehicle'; also listed as a relevant fact for disclosure: 'any non-factory modifications (whether structural, performance or cosmetic) to an insured motor vehicle' - **performance_mods_excluded:** no — not expressly excluded, but must be declared; undisclosed modifications may result in the policy being treated as of no effect ## Natural disaster cover - **flood_covered:** yes — Vehicle Parts exclusion does not apply to 'natural disaster'; Electronic Data exclusion lists flood as a covered event; Section 1 covers accidental loss - **storm_covered:** yes — Vehicle Parts exclusion does not apply to loss that is the direct result of 'hail, snow, storm or lightning' or 'natural disaster'; Condemned buildings and carparks extension applies following a natural disaster - **volcanic_covered:** yes — Vehicle Parts exclusion does not apply to 'natural disaster'; Electronic Data exclusion lists volcano as a covered event - **earthquake_covered:** yes — Vehicle Parts exclusion does not apply to 'natural disaster'; Electronic Data exclusion lists earthquake as a covered event ## Exclusions - **0:** loss of use of any kind whatsoever, or costs or expenses that result from that loss of use, unless expressly insured under Section 1, or the Automatic or Optional Extensions applicable to Section 1 - **1:** depreciation or reduction in value - **2:** loss to any drill shaft or bit of any type of drilling rig or machinery whilst being used for the purpose of drilling below ground or surface level - **3:** loss caused by or in connection with the insured vehicle's faulty or defective design, specification or materials (limited to the part immediately affected) - **4:** damage to or destruction of tyres (unless the damage or destruction results from separate loss that is covered by this policy) - **5:** mechanical breakdown or failure of engine and all engine parts, cooling systems, hydraulic system, transmission system, fuel systems, braking systems, electrical/electronic systems, computer systems, and mechanical systems, pumping and vacuuming systems, any fixed plant machinery, underground exploratory devices (subject to exceptions for fire, overturning, impact, immersion, theft, malicious damage, hail/snow/storm/lightning, natural disaster, animal impact) - **6:** loss caused by or in connection with wear and tear - **7:** loss caused by or in connection with rust or corrosion - **8:** loss caused by or in connection with action of light and fading - **9:** liability for bodily injury which is covered by the Accident Compensation Act 2001 - **10:** loss or liability when a vehicle is being driven by any person who has a proportion of alcohol in their breath or blood that exceeds the legal limit - **11:** loss or liability when a vehicle is being driven by any person who is under the influence of alcohol or any other intoxicating substance or drug - **12:** loss or liability when a vehicle is being driven by any person who fails or refuses to supply a breath or blood sample as required by law - **13:** loss or liability when a vehicle is being driven by any person who fails or refuses to stop, or remain at the scene, following an accident (as required by law) - **14:** loss or liability in connection with confiscation, nationalisation, requisition, destruction of, or damage to property by order of any Government, Public or Local Authority (unless the order is given to prevent or control any accidental loss or damage that would otherwise have been covered by this policy) - **15:** loss or liability of any type in connection with loss of, alteration of, or damage to, or reduction in functionality, availability or operation of, a computer system, hardware, programme, software, data, information repository, microchip, integrated circuit or similar device (subject to exceptions for fire, lightning, explosion, aircraft or vehicle impact, falling objects, windstorm, hail, tornado, cyclone, hurricane, earthquake, volcano, tsunami, flood, freeze, weight of snow) - **16:** loss or liability arising from any intentional or reckless act or omission - **17:** loss or liability of any type in connection with nuclear weapons material, ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste - **18:** loss or liability if the vehicle is loaded or operated contrary to the manufacturer's recommended specifications or loaded or operated contrary to regulations or statute (does not apply to theft claims) - **19:** any loss or benefit where a claim payment would breach any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of New Zealand, Australia, the European Union, United Kingdom or United States of America, or any local autonomous sanctions - **20:** loss or liability of any type in connection with seepage, pollution or contamination, unless sudden, unintended and unexpected, occurring during the period of insurance - **21:** loss, damage, death, injury, illness, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism - **22:** loss or liability of any type in connection with any activity, event or occurrence deemed to be unlawful to insure against - **23:** loss or liability if the insured vehicle is being used or driven by any person who does not have a licence that is in full force and effect to drive the insured vehicle at the time and place of the loss, or is not complying with the conditions of their licence - **24:** loss or liability if the vehicle is being used in an unsafe condition - **25:** loss or liability arising from use or driving of any vehicle insured under this policy hired out or leased out to a third party for reward - **26:** loss or liability arising from use or driving of any vehicle insured under this policy on a race track, or for pace making, reliability trials, hill climbs or speed tests, or while being used in preparation for any one of these activities - **27:** loss or liability of any type in connection with war, invasion, act of foreign enemy, hostilities or warlike operations (whether war is declared or not), civil war, civil commotion, military rising, mutiny, rebellion, revolution, insurrection, military or usurped power - **28:** liability arising out of a contract or agreement unless you would have been liable even without such contract or agreement - **29:** any legal defense costs, fines or court costs arising from the prosecution of any offence under any Act of Parliament including any Regulations, Rules or By-Laws made under any Act of Parliament - **30:** liability of any driver for bodily injury to, or loss to any property owned by, that driver who claims under Section 2 - **31:** liability for punitive or exemplary damages (subject to Automatic Extension — Exemplary Damages) - **32:** liability determined by any court outside New Zealand - **33:** liability arising directly or indirectly out of the use of any mechanical plant component while it is being used or operated for the purpose for which it was designed (subject to exception for vehicle mounted crane used to load/unload, or fork hoist) - **34:** liability for loss to any property that belongs to, or is/was in your care, custody or control (subject to specified exceptions) - **35:** liability in connection with the transporting of a load to, or away from, the insured vehicle (does not apply to actual loading or unloading) - **36:** liability for loss to any vehicle that is insured under this policy - **37:** liability for loss to property (including a road) arising from vibration caused by the insured vehicle, or the weight of the load or the insured vehicle (subject to Automatic Extension — Vibration or Weight Damage) ## Machine-readable endpoints - Facts JSON: `/api/product/qbe/commercial-motor/facts.json` - Summary Markdown (this file): `/api/product/qbe/commercial-motor/summary.md` - Full wording: `/api/product/qbe/commercial-motor/wording.md` - Version history: `/api/product/qbe/commercial-motor/history.json` ## Citation Cite as: QBE Insurance NZ QBE Steadfast Commercial Motor Vehicle (NZ), BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/product/qbe/commercial-motor/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Zurich New Zealand — Zurich NZ Motor Insurance **Vertical:** business-car **Status:** active **Wording effective:** 2023-11-01 **Confidence tier:** verified **Source PDF:** https://edge.sitecorecloud.io/zurichinsur0b40-zwpaustrali7d46-prod0760-b10c/media/project/zurich-headless/shared/content/dam/nz-documents/motor-insurance/motor-insurance-policy.pdf ## Vehicle value basis - **market_default:** yes — 'Our liability shall not exceed the market value for your vehicle.' - **agreed_available:** no — the wording does not reference agreed value; liability is capped at market value - **total_loss_basis:** total loss means where the vehicle is so damaged that the cost of repairs, plus the salvage value, exceeds the market value or the sum insured value of the vehicle (as specified in the schedule), taking into account relevant legislative requirements to this determination. Total loss includes a constructive total loss. - **sum_insured_indexation:** no — no indexation clause found in wording ## Excess options (NZD) - **theft:** not stated in wording — refer to schedule - **standard:** rule string — 'The amount of the deductible is shown in the schedule. The deductible will apply separately to each vehicle and each claim on that vehicle. Where more than one of your vehicles is involved in the same accident, only the higher deductible will apply.' - **unnamed_driver:** not stated in wording — refer to schedule - **inexperienced_driver:** not stated in wording — refer to schedule ## No-claims bonus _Not on file._ ## Claims basis occurrence — cover is in respect of 'events happening during the period of insurance stated in the schedule' ## Territorial scope accident means an unforeseen and unintended happening or event occurring anywhere within New Zealand (or elsewhere when specified in the schedule). ## Cover tiers in this wording - **0:** comprehensive ## Hire-car cover - **after_theft:** yes — Extension 42 (Theft Costs) covers hiring another vehicle of similar make and model subject to a maximum weekly limit as specified in the schedule; maximum limit for any one claim as specified in the schedule; and a deductible of seven (7) days. - **days_after_at_fault:** Optional Extension 3 (Loss of Use / Replacement Vehicle Costs) applies when stated in schedule — limits specified in schedule. - **days_after_not_at_fault:** Optional Extension 3 (Loss of Use / Replacement Vehicle Costs) applies when stated in schedule — limits specified in schedule. ## Windscreen / glass **Windscreen excess (NZD):** nil — 'Any payment by us will not be subject to any deductible, provided the deductibles listed in the schedule list windscreens and window glass as a deductible proviso, nor prejudice your premium rating.' - **side_rear_covered:** yes — Extension 47 refers to 'any windscreen or window glass' - **no_excess_for_repair:** yes — 'If loss occurs solely to any windscreen or window glass (or any scratching or damage to body work resulting solely and directly from such breakage), this Extension covers the cost of either repairing or replacing them. Any payment by us will not be subject to any deductible, provided the deductibles listed in the schedule list windscreens and window glass as a deductible proviso, nor prejudice your premium rating.' ## Driver schedule - **any_driver_cover:** yes — description of use covers the vehicle 'while being driven by you, or anyone with your consent' - **driver_age_limits:** no minimum age stated in wording; learner drivers permitted provided 'all requirements of the law are being complied with' - **named_drivers_required:** no — the wording does not require named drivers; cover applies to anyone driving with the insured's consent ## Vehicle types covered - **0:** cars - **1:** station wagons - **2:** utilities - **3:** vans - **4:** four wheel drive passenger vehicles - **5:** trucks - **6:** buses - **7:** electric vehicles - **8:** battery electric vehicles (BEV) - **9:** plug-in hybrid electric vehicles (PHEV) - **10:** mobile plant - **11:** mobile equipment - **12:** trailers - **13:** agricultural implements and machines - **14:** vehicles with hoists - **15:** leased/hired/borrowed/lent vehicles under care custody and control ## Goods in transit - **included:** yes — automatically included via Extension 22 - **sub_limit_nzd:** rule string — 'Our total liability shall not exceed the limit specified in the schedule, in respect of any one accident, subject always to a deductible of $50.' Cover applies where there is a fire, or collision or impact to your vehicle with any object, or an overturning of your vehicle, or your vehicle is stolen. ## Mobile plant cover your vehicle means all vehicles and, where specified in the schedule, also includes vehicular equipment of every description, including mobile plant and mobile equipment owned or used, which includes being leased, lent, borrowed, hired or under your care, custody and control for which you are responsible for, including their accessories. Tool of trade use is defined and subject to specific exclusions under Section 2. ## Hired-in plant Extension 12 (Difference in Excess / Hired-in or Rental Vehicles): Where you hire in or rent a vehicle in connection with your business and the hire agreement deems the owner of the vehicle responsible for insurance, your policy extends to cover any difference in the basic deductible level between your policy and the deductible level under the insurance coverage provided by the owner of the vehicle. ## Drive other vehicle Extension 16 (Employees Vehicles): This policy is extended to cover your employee's vehicles or any other vehicle used by an employee, not being the property of their family residing with them, provided any claim for loss, damage or liability arises solely while the vehicle is being used on your business, or the business use of the vehicle results in the employee's personal motor vehicle insurance no longer applying. No general drive-other-vehicle extension for the named insured is stated in the wording. ## Modifications - **must_be_declared:** yes — General Policy Condition 2 requires notification of 'modifications made to your vehicle (excluding conversion to LPG or CNG)' - **performance_mods_excluded:** not explicitly stated — wording does not contain a specific performance modifications exclusion, but undeclared modifications may affect cover ## Natural disaster cover - **flood_covered:** yes — no flood exclusion present; flood damage would fall within scope of Section 1 as accidental loss - **storm_covered:** yes — loss is defined as 'sudden physical loss, damage or destruction to your vehicle caused by an accident' and no exclusion for storm is present; storm damage would fall within scope of Section 1 - **volcanic_covered:** yes — no volcanic exclusion present; volcanic damage would fall within scope of Section 1 - **earthquake_covered:** yes — no earthquake exclusion present; earthquake damage would fall within scope of Section 1 ## Exclusions - **0:** consequential loss, inconvenience, or any other resulting detriment of any kind. - **1:** depreciation or loss of value. - **2:** wear and tear, rust, corrosion, deterioration. - **3:** mechanical, electrical or electronic breakdown, failure or breakages. - **4:** loss to any part or component of the engine, hydraulic or transmission systems resulting from wear and tear or mechanical/electrical/electronic breakdown (e.g. incorrect gear change other than a genuine attempt to prevent collision or impact, servicing or error in lubricant). - **5:** loss to tyres or tracks by application of brakes or by punctures, tears or rips, cuts, splits or bursts unless caused at the same time as other loss for which a claim is payable. - **6:** loss arising from ingestion or entry of any foreign object into any agricultural implement or machine (e.g. tractor or hay bailer). - **7:** loss arising from failure of, or defect or fault in the design or specification. - **8:** loss and any distortion, erasure, corruption or alteration of or loss of use of electronic data. - **9:** being driven outside of the description of use. - **10:** racing, pacemaking, reliability trial, hill climbing or speed tests, or in preparation for any one of these activities; or participating in any directly associated activity where the vehicle is required to be on the track or trackside. - **11:** advanced or high performance driver training events. - **12:** any stunt, film, video or audio recording including the preparation thereof. - **13:** any experiment. - **14:** recreational offloading which is not on a public road. - **15:** being driven to run on railway or tramway lines, tracks or cable. - **16:** being driven in any underground mine, quarry, tunnel (excluding public roads), excavation or cavity. - **17:** being driven where your vehicle has been maintained contrary to the manufacturer's servicing recommendations for that vehicle. - **18:** being driven in a condition as a result of which the vehicle is not fit to deal with any peril likely to be encountered during the course of its normal operation. - **19:** being driven by any person who is not the holder of a licence for the appropriate class and use applicable to the operation of your vehicle or its components, or who is breaching any condition of their licence. - **20:** being driven by any person who is under the influence of any intoxicating substance or drug. - **21:** being driven by any person who has a proportion of alcohol in the blood which exceeds the legal limit. - **22:** being driven by any person who has a proportion of alcohol in the breath which exceeds the legal limit. - **23:** being driven by any person who fails to supply a blood or breath sample as required by law. - **24:** being driven by any person who fails to stop, or remain at the scene, following an accident as required by law. - **25:** liability incurred by you by virtue of an agreement and which would not have attached in the absence of such agreement. - **26:** loss to your vehicle caused by lawful seizure, confiscation, repossession or acquisition. - **27:** death or injury which is recoverable or would have been recoverable under any statute or policy of insurance in substitution thereof. - **28:** war, invasion, act of foreign enemy, war-like operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, or military or usurped power. - **29:** confiscation, nationalisation or destruction or damage to property by order of government, public or local authority. - **30:** nuclear weapons material. - **31:** ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel. - **32:** loss deliberately brought about by you. - **33:** exemplary damages (except where covered by Policy Extension 17). - **34:** death, injury, illness, or any other form of cover directly or indirectly caused by any act of terrorism. - **35:** loss or liability arising out of or in connection with a cyber act. - **36:** liability in connection with the bringing of a load to your vehicle or the taking away of a load from it. - **37:** liability for any property (including any road or land) arising from vibration caused by your vehicle or from the weight of the load carried by your vehicle, or from the weight of your vehicle or from the combined weight of the load and your vehicle (except where covered by Extension 46). - **38:** liability directly or indirectly caused while any component of your vehicle is being used or operated as a tool of trade; however this does not apply while your vehicle is in transit or being used for transport or haulage. - **39:** liability in respect of any property which belongs to you, or is in your care, custody or control (with limited exceptions). - **40:** liability in respect of property, or death or injury to any person, who at the time of the accident, was in charge of your vehicle. - **41:** liability arising as a result of a judgment or order of any court outside New Zealand, or for any debt based on such judgment or order. ## Machine-readable endpoints - Facts JSON: `/api/product/zurich/commercial-motor/facts.json` - Summary Markdown (this file): `/api/product/zurich/commercial-motor/summary.md` - Full wording: `/api/product/zurich/commercial-motor/wording.md` - Version history: `/api/product/zurich/commercial-motor/history.json` ## Citation Cite as: Zurich New Zealand Zurich NZ Motor Insurance (NZ), BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/product/zurich/commercial-motor/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Dual New Zealand — DUAL New Zealand Commercial Motor Vehicle (08.23 v2) **Vertical:** business-car **Status:** active **Wording effective:** 2026-05-27 **Confidence tier:** verified **Source PDF:** https://nz.dualinsurance.com/hubfs/DUAL%20ANZ/DUAL%20New%20Zealand/NZ%20policy%20wording/DUAL-NZ-Commercial-Motor-Policy-Wording.pdf ## Vehicle value basis - **market_default:** yes — default basis of settlement references market value: 'Pay an amount equal to the market value of the insured vehicle or the amount stated in the vehicle declaration, whichever is the lesser' - **agreed_available:** yes — optional extension: 'In the event of a total loss covered under Section 1, we will pay the agreed value as specified in the schedule.' - **total_loss_basis:** Pay an amount equal to the market value of the insured vehicle or the amount stated in the vehicle declaration, whichever is the lesser, unless the insured vehicle is leased, in which case we will pay an amount equal to the market value or residual value of the insured vehicle, whichever is the greater. - **sum_insured_indexation:** no — no indexation clause found; policy requires insured to declare market value and states 'All values of insured vehicles stated in the vehicle declaration must represent, as nearly as possible, their market value.' ## Excess options (NZD) - **theft:** No excess applies to Section 1 claim where cause of loss is theft or fire (fire not resulting from impact), unless stated in the schedule or payable under any Section 1: Automatic Extension or Section 1: Optional Extension. - **standard:** As shown in the schedule ## No-claims bonus _Not on file._ ## Claims basis Occurrence — cover applies for accidental loss or liability 'occurring during the period of insurance' ## Territorial scope New Zealand — 'We will indemnify the insured for accidental loss to an insured vehicle occurring anywhere in New Zealand during the period of insurance'; liability cover applies to use of an insured vehicle 'in New Zealand'. ## Cover tiers in this wording - **0:** comprehensive - **1:** third-party-fire-and-theft - **2:** third-party ## Hire-car cover - **after_theft:** Cover begins on date the insured vehicle is stolen; cost of first 7 days not covered; ends when vehicle recovered and repaired and returned, or when claim settled (Section 1 Automatic Extension S – Theft – Hire of Alternative Vehicle) - **days_after_at_fault:** First 7 days of hire not covered; cover begins when insured vehicle is delivered to repairer or date of loss if unfit to drive; ends when repairs completed or total loss settled or hire vehicle returned (Optional Extension C – Loss of Use, only where specified in schedule) ## Windscreen / glass **Windscreen excess (NZD):** No excess applies to a claim solely for loss to windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass (including scratching or damage to bodywork resulting solely from broken glass), unless otherwise specified on the schedule. - **side_rear_covered:** yes — 'window glass' is listed alongside windscreens in Section 1: Automatic Extensions U – Windscreens And Window Glass - **no_excess_for_repair:** No excess applies to the claim unless otherwise specified on the schedule — applies to the claim being solely for loss to windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass; no separate repair-vs-replacement distinction stated ## Driver schedule - **any_driver_cover:** yes — Section 2 covers 'any other person caused by or through or in connection with their use of an insured vehicle … provided such use has the permission of the insured' - **driver_age_limits:** No minimum age stated in the wording; learner drivers permitted provided 'the insured vehicle is being used for the purpose of teaching a learner to drive, and all the requirements of the law are being complied with' - **named_drivers_required:** no — no requirement for named drivers found in the wording ## Vehicle types covered - **0:** cars - **1:** station wagons - **2:** utilities - **3:** vans - **4:** four wheel drives - **5:** trucks - **6:** mechanical plant - **7:** mobile machinery - **8:** vehicles with cranes or hoists - **9:** taxis - **10:** agricultural vehicles (tractors etc.) - **11:** any type of machine on wheels, tracks or rollers (but not rails) propelled by its own power, and anything designed to be towed by such a machine ## Goods in transit - **included:** yes — automatic extension: covers loss to goods owned by the insured carried on or in the insured vehicle at the time of loss, where loss arises from fire, collision, impact or overturning covered under Section 1 - **sub_limit_nzd:** The limit shown in the Limits and Excesses section (specific dollar amount not stated in the wording text provided) ## Mobile plant cover Mechanical plant is defined as 'A vehicle, that has either plant or machinery attached to it, or is primarily designed as mobile plant or mobile machinery.' Section 1 covers accidental loss to insured vehicles including mechanical plant. Section 1 Automatic Extension A (Appreciation – Mechanical Plant) covers appreciation of market value of mechanical plant up to 25% of declared value. Section 1 Exclusions D (Vehicle Parts) applies but does not apply where loss is the direct result of fire, overturning, impact/collision, immersion in water, theft, malicious damage, incorrect fuel, hail/snow/storm/lightning, natural disaster, or animals. ## Hired-in plant Section 2 Automatic Extension F (Hired And Rented Vehicles) covers liability to third parties for hired or rented vehicles and the difference between the Section 1 excess and any deductible under rental vehicle owner's insurance. Section 2 Automatic Extension G covers the insured's liability to the owner of a hired/rented vehicle for consequential losses where the statutory offer of insurance is rejected. The definition of 'insured vehicle' includes 'any other vehicle, hired, rented, or borrowed without financial or other consideration, by the insured during the period of insurance.' ## Drive other vehicle No separate 'drive other vehicle' extension found. Cover for vehicles hired, rented or borrowed without financial or other consideration is included within the definition of 'insured vehicle': 'Any other vehicle, hired, rented, or borrowed without financial or other consideration, by the insured during the period of insurance.' ## Modifications - **must_be_declared:** yes — General Conditions require the insured to 'tell us immediately if there are any modifications to an insured vehicle' ## Natural disaster cover - **flood_covered:** yes — Section 1 Exclusions D.2.d lists 'the insured vehicle being partly or fully immersed in a body of water' as exception; General Exclusions D lists 'flood' as a named peril exception to the electronic data exclusion - **storm_covered:** yes — Section 1 Exclusions D.2.h lists 'hail, snow, storm or lightning' as exceptions to the vehicle parts exclusion; natural disaster events are referenced throughout - **volcanic_covered:** yes — General Exclusions D lists 'volcano' as a named peril exception to the electronic data exclusion; natural disaster exception in Section 1 Exclusions D.2.i would encompass volcanic events - **earthquake_covered:** yes — Section 1 Exclusions D.2.i lists 'natural disaster' as exception; General Exclusions D lists 'earthquake' as a named peril exception to the electronic data exclusion ## Exclusions - **0:** Wear and tear - **1:** Rust or corrosion - **2:** The failure of, or any fault or defect in, the insured vehicle's design, specification or materials - **3:** Entanglement, ingestion or entry of any foreign object into any mulching, chipping or agricultural implement or machine - **4:** Loss of use of any kind whatsoever, or any costs or expenses that result from that loss of use, unless expressly insured under Section 1: Automatic or Optional Extensions - **5:** Depreciation or loss in value - **6:** Loss to engine and all engine parts, cooling systems, hydraulic system, transmission system, fuel systems, braking systems, electrical/electronic systems, computer systems, and mechanical systems, pumping and vacuuming systems, any fixed plant machinery, underground exploratory devices (subject to listed exceptions) - **7:** Loss to any drill shaft or bit of any type of drilling rig or machinery whilst being used for the purpose of drilling below ground or surface level - **8:** Damage to or destruction of tyres (unless damage or destruction results from a loss otherwise covered under Section 1) - **9:** Theft or conversion of the insured vehicle by a person to whom the insured vehicle has been hired, rented or lent by the insured - **10:** Use on a race track, or for pace making, reliability trials, hill climbs or speed tests, or while being used in preparation for any of these activities - **11:** Liability for bodily injury which is covered by the Accident Compensation Act 2001 - **12:** Loss or liability when the insured vehicle is being used by any person who has a proportion of alcohol in their breath or blood that exceeds the legal limit, or is under the influence of any other intoxicating substance or drug, or fails or refuses to supply a breath or blood sample as required by law, or fails or refuses to stop or remain at the scene following an accident - **13:** Loss or liability in connection with confiscation, nationalisation, requisition or destruction of, or damage to property by order of government, public or local authority - **14:** Loss or liability of any type in connection with loss of, alteration of, or damage to, or a reduction in the functionality, availability or operation of, a computer system, hardware, programme, software, data, information repository, microchip, integrated circuit or similar device (subject to listed exceptions) - **15:** Loss or liability while any insured vehicle is loaded or operated contrary to the manufacturer's recommended specifications, or contrary to the law - **16:** Loss or liability arising from any intentional or reckless act or omission - **17:** Any loss or liability in connection with ionising radiation or contamination by radioactivity from any nuclear fuel, or any nuclear waste, or nuclear weapons material - **18:** Any vehicle hired or rented by the insured when the insured has purchased insurance offered by the rental vehicle hirer - **19:** Loss or liability of any type in connection with seepage, pollution or contamination, unless sudden, unintended and unexpected - **20:** Loss, liability, prosecution or expense of any type in connection with an act of terrorism - **21:** Loss or liability when any insured vehicle is being used by a person who does not hold a driver's license appropriate for the class or operation of the insured vehicle (subject to exceptions), or who breaches any license conditions - **22:** Loss or liability if the insured vehicle is being used in an unsafe condition - **23:** Any loss or liability in connection with war, invasion, act of foreign enemy, hostilities or warlike operations, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power - **24:** Loss or liability when any insured vehicle is being used in breach of any enactment or regulations relating to work time or logbook rules - **25:** Any loss to the extent that the provision of such cover would expose the insurer to any sanction, prohibition or restriction under United Nations resolution or the trade or economic sanctions, laws or regulation of New Zealand, Australia, the European Union, United Kingdom or United States of America - **26:** Claims caused by, arising from, or in any way connected with any actual or suspected Cyber Incident - **27:** Claims caused by, arising from, or in any way connected with an Infectious or Communicable Disease - **28:** Any actual or alleged liability whatsoever for any claim or claims directly or indirectly arising out of, resulting from, in consequence of, contributed to or aggravated by asbestos in whatever form or quantity - **29:** Airside liability arising out of the ownership, operation or maintenance of any vehicle within the restricted area of any airport used for scheduled commercial flights - **30:** Contractual liability unless the insured would have been liable even without such contract or agreement - **31:** Liability of any driver for bodily injury to, or loss to any property owned by, that driver and/or insured who claims under Section 2 - **32:** Liability for punitive or exemplary damages (subject to Automatic Extension C) - **33:** Liability determined by any court outside New Zealand - **34:** Liability arising out of the operation of any mechanical plant component while it is being used for the purpose for which it was designed (subject to exceptions for vehicle mounted cranes loading/unloading and fork hoists) - **35:** Liability for loss to property that belongs to, or is, or was in the care, custody or control of the insured (subject to listed exceptions) - **36:** Liability arising from the transporting of a load to, or away from, the insured vehicle (loading and unloading excepted) - **37:** Liability for loss to any vehicle that is insured under this policy - **38:** Liability for loss to any property (including roads) arising from vibration caused by the insured vehicle, or the weight of the load or vehicle (subject to Automatic Extension K) ## Machine-readable endpoints - Facts JSON: `/api/product/dual-nz/commercial-motor/facts.json` - Summary Markdown (this file): `/api/product/dual-nz/commercial-motor/summary.md` - Full wording: `/api/product/dual-nz/commercial-motor/wording.md` - Version history: `/api/product/dual-nz/commercial-motor/history.json` ## Citation Cite as: Dual New Zealand DUAL New Zealand Commercial Motor Vehicle (08.23 v2) (NZ), BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/product/dual-nz/commercial-motor/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Delta Insurance — Delta NZ Commercial Motor Vehicle (April 2024) **Vertical:** business-car **Status:** active **Wording effective:** 2024-04-01 **Confidence tier:** verified **Source PDF:** https://deltainsurance.co.nz/hubfs/Documents%20-%20policy%20wordings/DELTA%20NZ_Commercial%20Motor%20Vehicle_Policy%20Wording_Policies%20Until%20011124_April%202024.pdf ## Vehicle value basis - **market_default:** yes — 'pay the Market Value of the Insured Vehicle stated in the Vehicle Schedule or Declaration.' - **agreed_available:** yes — 'Where Your Schedule shows an Agreed Value We will pay the value as specified in the Schedule.' - **total_loss_basis:** if We consider the Insured Vehicle uneconomical to repair, We will at Our option replace it with a Vehicle of the same age, make and model and in similar condition; or pay the Market Value of the Insured Vehicle stated in the Vehicle Schedule or Declaration. Where Your Schedule shows an Agreed Value We will pay the value as specified in the Schedule. - **sum_insured_indexation:** no — no indexation provision found in the wording ## Excess options (NZD) - **at_fault:** The Excess shall be refunded for a No Fault claim unless specified in the Schedule or related extensions. - **standard:** as per the Schedule - **unnamed_driver:** as per the Schedule - **under_25_driver:** The Excess will be cumulative where there is more than one Excess applicable and it is stated as such on the Schedule, including the under 25 years old Excess. ## No-claims bonus _Not on file._ ## Claims basis occurrence — cover applies to an 'Event' defined as 'any occurrence or series of occurrences arising from one source or original cause within a 72-hour period' ## Territorial scope New Zealand — 'Accident or Accidental means sudden, unforeseen, unexpected, and unintended Event occurring in New Zealand during the Period of Insurance.' ## Cover tiers in this wording - **0:** comprehensive - **1:** third-party-fire-and-theft - **2:** third-party ## Hire-car cover - **after_theft:** yes — 'If an Insured Vehicle suffers Loss or Damage directly arising from theft or illegal conversion covered under Section 1, then this Policy is extended to cover the reasonable costs of hiring another Vehicle of a similar make, model and specification' - **days_after_not_at_fault:** cover begins 7 days from the date the Insured Vehicle was stolen/converted and notified to the police; ends once the Insured Vehicle is recovered, repaired and returned to the Insured, or We have settled the Insured's claim under this Policy (Theft – Hire of Alternative Vehicle automatic extension) ## Windscreen / glass **Windscreen excess (NZD):** unless specified on the Schedule no Excess applies to the claim - **side_rear_covered:** yes — 'This Policy is extended to cover Accidental Loss or Damage to windscreens, sunroofs, or window glass (including scratching or damage to bodywork resulting solely from broken glass) installed in the Insured Vehicle' - **no_excess_for_repair:** yes — 'unless specified on the Schedule no Excess applies to the claim' ## Driver schedule - **any_driver_cover:** yes — 'Authorised Driver means any driver operating the Insured Vehicle with the Insured's prior consent.' - **driver_age_limits:** an under 25 years old Excess applies as stated in the Schedule; 'The Excess will be cumulative where there is more than one Excess applicable and it is stated as such on the Schedule, including the under 25 years old Excess.' - **named_drivers_required:** no — cover applies to any Authorised Driver (any driver with prior consent of the Insured) ## Vehicle types covered - **0:** cars - **1:** station wagons - **2:** utilities - **3:** vans - **4:** SUVs - **5:** trucks - **6:** heavy commercial vehicles - **7:** mobile plant and machinery (cranes, forklifts, excavators, lifting machinery/platforms, log haulers, skidders, rollers, graders, bulldozers) - **8:** electric/hybrid/hydrogen vehicles - **9:** autonomous vehicles - **10:** vehicles used for the Insured's Business ## Goods in transit - **included:** yes — automatic extension 'Property In Transit – Your Own Property' covers Loss or Damage to the insured's owned physical property directly arising out of an Accident involving the Insured Vehicle; 'Property In Transit – Third Party Property' is an optional extension under Section 2 - **sub_limit_nzd:** as shown in the Sublimits and Excesses section in the Schedule ## Mobile plant cover Plant and Machinery including but not limited to cranes, forklifts, excavators, lifting machinery/platforms, log haulers, skidders, rollers, graders, bull dozers is covered subject to the condition that all persons operating such vehicles must be fully trained and qualified, must not operate beyond manufacturer's specifications or recommendations, and must comply with Health and Safety In Employment (Pressure Equipment, Cranes, And Passenger Ropeways) Regulations 1999. There is no cover while the vehicle is being used or operated as plant or machinery and not operating solely as a Vehicle (Section 2 exclusion: Operation Of Plant Or Machinery). ## Hired-in plant Substitute Vehicles and Rental Vehicles are covered under optional extensions. 'Substitute Vehicles' (Section 2 Automatic Extension) covers liability to the Vehicle owner for damage up to the Schedule limit and liability to third parties where the Insured or Authorised Driver hires, rents or borrows a Substitute Vehicle (subject to declining the owner's statutory offer of insurance). 'Hired And Rented Vehicles' (Section 2 Optional Extension) covers liability for Rental Vehicles. 'Employees' Vehicles' (Sections 1 and 2 Optional Extension) covers vehicles owned by employees used for the Insured's Business. ## Drive other vehicle Section 2 Automatic Extension 'Substitute Vehicles': If the Insured or Authorised Driver hires, rents or borrows a Substitute Vehicle during the Period of Insurance, subject to the Insured declining the Rental Vehicle owner's statutory offer of insurance, this extension covers the Insured's liability to the Vehicle owner for any Damage up to the limit specified in the Schedule; and to third parties as provided under Section 2; and for consequential loss caused by it arising out of Accidental Loss or Damage to the Substitute Vehicle. This cover does not apply where the Vehicle is a Rental Vehicle. ## Modifications - **must_be_declared:** yes — 'This Policy does not cover Loss or Damage to, or as a result of any Modifications unless such Modifications have been advised by You to Us and noted on the Schedule.' - **performance_mods_excluded:** yes unless declared — 'Modifications means any change made to a Vehicle from the manufacturer's standard specifications. This includes any performance upgrades or changes, or changes to an Insured Vehicle that alters the use of that Vehicle.' ## Natural disaster cover - **flood_covered:** yes — 'being partly or fully immersed in a body of water' listed in the write-back to Vehicle Parts exclusion; natural disaster listed as a write-back trigger - **storm_covered:** yes — hail, snow, storm or lightning listed in the write-back to Vehicle Parts exclusion; natural disaster also listed as a write-back trigger - **volcanic_covered:** yes — natural disaster listed as a write-back trigger in Vehicle Parts exclusion - **earthquake_covered:** yes — natural disaster listed as a write-back trigger in Vehicle Parts exclusion ## Exclusions - **0:** Loss or Damage to any Accessories - **1:** any Loss or Damage, costs or expenses that result from loss of use; consequential loss including loss of profit; or depreciation or any loss in value - **2:** Loss or Damage to any part or component of a drilling rig or machinery whilst being used for drilling below ground level - **3:** Loss or Damage to any Insured Vehicle that has been hired, rented or lent out by the Insured, Authorised Driver or an employee - **4:** Loss or Damage to engine and engine parts, cooling systems, hydraulic systems, transmission systems, fuel systems, braking systems, electrical/electronic systems, computer systems, software, mechanical systems, pumping and vacuuming systems, any fixed plant machinery, and underground exploratory devices (subject to write-back for fire, impact/collision, immersion, theft/conversion, malicious damage, hail/snow/storm/lightning, animal impact, natural disaster) - **5:** Loss or Damage where any vehicle is being used on a racetrack, or for pacemaking, speed tests, reliability trials, hill climbs, motorsport events or targas, rallies or while being used in preparation for any one of these activities - **6:** wear and tear; rust or corrosion; and/or any failure of, or any defect in, design, specification, construction or materials of the Insured Vehicle - **7:** liability arising out of a contract or agreement unless the Insured would have been liable at common law in New Zealand - **8:** any legal defence costs, fines or court costs arising from the prosecution of any Criminal offence under any Act or Regulation - **9:** liability for death or Bodily Injury to, or Loss or Damage to any property owned by, any driver who has made a claim under Section 2 - **10:** liability for Punitive or Exemplary Damages or fines (subject to write-back extension) - **11:** liability determined by any Court or tribunal outside New Zealand - **12:** liability caused directly or indirectly while any Insured Vehicle or component is being used or operated as plant or machinery and not operating solely as a Vehicle - **13:** liability for personal property owned by or in the care, custody or control of You or Authorised Driver or employee - **14:** liability for Loss or Damage to any property or Bodily Injury arising from vibration or weight of load or vehicle (subject to write-back extension) - **15:** liability for Bodily Injury covered by the Accident Compensation Act 2001 - **16:** any person under the influence of alcohol, drugs or any other intoxicating substance or exceeding legal blood/breath alcohol or drug limits - **17:** any person who after the Event refuses to stop for police, or fails or refuses to take any tests to confirm alcohol or drug content when lawfully required - **18:** Loss or Damage, or liability connected in any way with confiscation, destruction, acquisition, designation, or decision by government or local authorities - **19:** Loss or Damage or liability for any Insured Vehicle, plant or machinery that is loaded or operated in excess of manufacturer's recommended specifications, or illegally loaded or operated - **20:** any charges or costs payable to a credit hire or hire reimbursement company or liability for loss of use costs or substitute vehicles to any third party - **21:** Loss or Damage, or liability arising from any intentional, deliberate or reckless acts or omissions by the Insured or an Authorised Driver - **22:** Loss or Damage to, or as a result of any Modifications unless such Modifications have been advised by You to Us and noted on the Schedule - **23:** Loss, theft, Damage, impairment, disablement or loss of use of a vehicle, or any legal liability arising from death, bodily injury or third party property damage caused by use of or failure of any application, software, or programme; electronic device connected to vehicle; computer virus, ransomware, code or software; theft of or loss of access to telematic device or electronic data; or any threat, deception or hoax relating to any of the above - **24:** Loss or Damage caused directly or indirectly by ionising radiations, radioactive contamination, or radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component - **25:** any Loss to the extent that providing cover would expose Us or Underwriters to any legally enforceable sanction, prohibition, restriction, measure, ban or imposition under applicable laws - **26:** loss, damage, cost or expense directly or indirectly caused by, resulting from or in connection with any act of terrorism - **27:** Loss or Damage or liability when any Insured Vehicle is being used by a person who does not hold a valid New Zealand driver's licence appropriate for the class or operation of the Insured Vehicle - **28:** Loss or Damage or liability if the Insured Vehicle is being used in an unsafe or unroadworthy condition - **29:** Loss or Damage or liability to any Insured Vehicle where it is being used in breach of any work time or logbook rules or regulations - **30:** Loss or Damage directly or indirectly occasioned by war, invasion, acts of foreign enemies, hostilities, civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalisation or requisition ## Machine-readable endpoints - Facts JSON: `/api/product/delta-insurance/commercial-motor/facts.json` - Summary Markdown (this file): `/api/product/delta-insurance/commercial-motor/summary.md` - Full wording: `/api/product/delta-insurance/commercial-motor/wording.md` - Version history: `/api/product/delta-insurance/commercial-motor/history.json` ## Citation Cite as: Delta Insurance Delta NZ Commercial Motor Vehicle (April 2024) (NZ), BusinessCarInsurance.co.nz, accessed 2026-05-27. Canonical URL: https://businesscarinsurance.co.nz/api/product/delta-insurance/commercial-motor/summary.md License: CC BY 4.0 — attribute https://businesscarinsurance.co.nz --- # Source wordings (verbatim) ## NZI — NZI Steadfast Commercial Motor Vehicle > _Markdown transcription of NZI NZI Steadfast Commercial Motor Vehicle policy wording, effective 2020-01-01. Source: https://baileysinsurance.co.nz/wp-content/uploads/2025/07/NZI-Steadfast-Commercial-Motor-Policy-Wording_01-2020_-_FINAL-Plus-Endorsements.pdf_ --- Commercial Motor Vehicle Insurance Policy Wording Commercial Motor Vehicle Insurance | 1 Contents Contents 1 INTRODUCTION 2 INSURANCE AGREEMENT 3 POLICY COVER OPTIONS 3 WHEN COVER APPLIES 4 SECTION 1: COVER FOR THE INSURED VEHICLE 5 SECTION 1: AUTOMATIC POLICY EXTENSIONS 5 SECTION 1: OPTIONAL POLICY EXTENSIONS 13 SECTION 1: EXCLUSIONS 15 SECTION 1: BASIS OF SETTLEMENT 17 SECTION 2: LIABILITY TO THIRD PARTIES 18 SECTION 2: AUTOMATIC POLICY EXTENSIONS 19 SECTION 2: EXCLUSIONS 23 SECTION 2: BASIS OF SETTLEMENT 25 GENERAL POLICY EXTENSIONS APPLICABLE TO SECTIONS 1 AND 2 AUTOMATIC EXTENSIONS 25 OPTIONAL POLICY EXTENSIONS 28 GENERAL POLICY EXCLUSIONS 29 HOW TO CLAIM 33 GENERAL CONDITIONS 35 DEFINTIONS 39 NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 2 INTRODUCTION Welcome Welcome to NZI. Thank you for selecting us as your insurer. About this Policy Your Commercial Motor Vehicle Policy consists of: 1. This policy document, and 2. The schedule, and 3. Any endorsements or warranties that we apply, and 4. The information you have provided in the application for insurance to us. About Steadfast Steadfast NZ Ltd (Steadfast) is part of Steadfast Group Ltd, an Australian Stock Exchange listed company. It includes a network of insurance brokerages who operate in New Zealand as Steadfast Brokers. This policy is available exclusively to you through a Steadfast broker. Steadfast does not issue, guarantee or underwrite this policy. Your Duty of Disclosure When you apply for insurance, you have a legal duty of disclosure. This means you or anyone acting on your behalf must tell us everything you know (or could be reasonably expected to know) that a prudent insurer would want to take into account in deciding: 1. To accept or decline your insurance, and/or 2. The cost or terms of the insurance, including the excess. You also have this duty every time your insurance renews and when you make any changes to it. Information you will need to disclose includes: − Circumstances which could increase the risk of an insurance claim; − Any criminal offences or convictions; − Any cancellation, refusal to renew insurance or imposing of special terms by another insurer; − Insurance claims you have made in the past. Information you do NOT need to disclose includes: − Circumstances which would diminish the risk of an insurance claim; − Anything that we know or would be expected to know in the ordinary course of our business; NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 3 − Anything that we advise you do not need to disclose. Examples of relevant facts for Motor Vehicle insurance may include: a. Any previous traffic violations including speeding, reckless driving, drink-driving or drug driving. b. Any non-factory modifications (whether structural, performance or cosmetic) to an insured motor vehicle. c. Any change of use of an insured motor vehicle (for example a private car now used for business use) d. Any previous accidents, or history of your losses, whether you were insured at the time or not. If you or anyone acting on your behalf breaches this duty, we may treat this policy as being of no effect and to have never existed. Examples We have used examples and comments to make parts of this policy document easier to understand. These examples and comments are printed in italics and do not affect or limit the meaning of the section they refer to. Headings The headings in this policy document are for reference only and do not form part of it. They must not be used when interpreting the policy document. Defined words If a word is shown in bold, it has a specific meaning. There is a list of these words and what they mean in this policy in the section ‘DEFINITIONS’. INSURANCE AGREEMENT Our Agreement You agree to pay us the premium and comply with this policy. In exchange, we agree to insure you as set out in this policy. POLICY COVER OPTIONS Your vehicles will be insured under one of the following Policy Cover Options. The option that applies will be shown on the schedule. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 4 Comprehensive Cover Provides: 1. Full cover under ‘Section 1: Cover for the Insured Vehicle’, and 2. Full cover under ‘Section 2: Liability to third parties’ 3. Full cover under ‘General Policy Extensions Applicable To Sections 1 And 2 Automatic Extensions' Third Party, Fire and Theft Provides: 1. Limited cover under ‘Section 1 – Cover for the Insured Vehicle’ only covering accidental loss to the insured vehicle caused by: fire, lightning, explosion, theft or unlawful conversion (including attempted theft), and 2. Cover under ‘Section 1: Automatic Extensions – Uninsured Third-Party Protection’, and 3. Full cover under ‘Section 2: Liability to third parties’ Third Party Only Provides: 1. Cover under ‘Section 1: Automatic Extensions – Uninsured Third-Party Protection’, and 2. Full cover under ‘Section 2: Liability to third parties’ WHEN COVER APPLIES There is only cover under this policy when any vehicle insured under this policy is being used by any driver with your consent: 1. For your business or occupation as advised to us prior to inception of this policy or any renewal, or 2. For private, social or domestic purposes. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 5 SECTION 1: COVER FOR THE INSURED VEHICLE Cover We will insure you for accidental loss to an insured vehicle occurring anywhere in New Zealand, including transit between islands of New Zealand, during the period of insurance. SECTION 1: AUTOMATIC POLICY EXTENSIONS In addition to the cover under ’Section 1: Cover for the Insured Vehicle’, we also provide the following automatic policy extensions. These extensions apply automatically where you have: 1. Comprehensive cover option shown in the schedule; or 2. Third Party Fire and Theft cover option shown in the schedule and there is a claim under Section 1 of this policy for fire or theft or unlawful conversion of the insured vehicle; and 3. There is a valid claim under ’Section 1: Cover for the Insured Vehicle’, unless specified otherwise. These extensions are otherwise subject to the terms and exclusions of the policy. Except as otherwise stated, where a limit is specified in the extension, this is in addition to the maximum liability under ‘Section 1: Basis of Settlement’. Otherwise, any payment under an extension is subject to the maximum amount payable under ‘Section 1: Basis of settlement’. Claim Preparation Costs Section 1 is extended to cover costs and expenses reasonably incurred by you for the preparation, presentation, negotiation, certification and/or justification of claims made under this policy (but not costs incurred in disputing a claim). There is no cover under this extension for costs and expenses for any one claim unless it exceeds $100 in total or if any claim is not admissible under this policy. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 6 Completion of Journey Costs and Emergency Accommodation Section 1 is extended to cover the reasonable costs for the completion of journey and accommodation when, as a result of a loss covered under Section 1, your journey cannot be continued, this extension covers: a. Hiring another vehicle of similar make and model to complete the journey, or to return you or your driver to where the journey first commenced; and b. Returning the insured vehicle to the premises where it is normally based following its repair, or the cost of recovering it in the event of theft or unlawful conversion; and c. the cost of accommodation for you or your driver. The most we will pay under this extension is $10,000 for any one event, unless a different amount is shown in the schedule. Death by Accident Section 1 is extended to cover the death as a direct result of an accident causing loss to an insured vehicle covered under Section 1 of this policy of the driver and or any immediate family of the driver, or employee who is a passenger in the insured vehicle Death must occur within 12 months of the accident. The most we will pay under this extension is $10,000 to the deceased estate, regardless of any other insurance. Disability Modifications Section 1 is extended to cover the reasonable costs for modifications to one vehicle (e.g. hand controls) following loss to an insured vehicle which directly results in you or any of your employees sustaining permanent disabilities that will require vehicle modifications to drive in the future. The most we will pay under this extension is $10,000, in excess of any amount payable by the Accident Compensation Corporation for any one event, unless a different amount is shown in the schedule. Employees’ Vehicles Section 1 is extended to cover vehicles owned by your employees that are occasionally used in the course of your business, provided: a. Your employee has personal vehicle insurance for the vehicle but that policy does not respond because of this business use, and b. the vehicle is not ordinarily used for your business purposes, and c. the person using the vehicle meets all the same terms of this policy that you must meet. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 7 The most we will pay under this extension is $100,000 for any one event, unless a different amount is shown in the schedule. Expediting Expenses Section 1 is extended to cover the reasonable costs of express freight including airfreight and overtime to expedite repairs to the insured vehicle as a result of loss covered under Section 1 of this policy. First Aid Kits Section 1 is extended to cover the cost to replace or restock any first aid kits or equipment in the vehicle damaged or used as a result of loss to an insured vehicle covered under Section 1 of this policy. Fit out Removal and Reinstallation Section 1 is extended to cover you for costs associated with the de-installation/reinstallation of: a. LPG, CNG units, in-vehicle cameras, meters and the like. b. Any customised fit-out of the insured vehicle (for the purpose of conducting your business, such as custom interiors, shelving and cabinetry, permanently affixed plant and equipment). There is no cover under this extension for costs incurred to repair or replace any of the above items. This extension only applies following accidental loss covered under Section 1 of this policy which results in the insured vehicle becoming a total loss. The most we will pay under this extension is: a. $2,500 per event, unless a different amount is shown in the schedule; b. $10,000 per event, unless a different amount is shown in the schedule. Funeral Expenses Section 1 is extended to cover all funeral expenses associated with burial or cremation, in excess of any amount payable by the Accident Compensation Corporation for the driver, immediate family of the driver, or your employee who dies within 12 months as the direct result of a loss to an insured vehicle covered by Section 1 of this policy. This policy also covers any travel costs within New Zealand of the deceased’s immediate family (e.g. parents, spouse or partner, children, or siblings) necessarily incurred as a result of attending the funeral. The most we will pay under this extension is $10,000 for any one event, unless a different amount is shown in the schedule. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 8 Goods in Transit Section 1 is extended to cover loss to goods owned by you, that are being carried on or in an insured vehicle, for the purpose of a single relocation (such as a delivery to a customer’s premises or to a warehouse) resulting from loss to an insured vehicle covered under Section 1 of this policy. The most we will pay under this extension is $10,000 for any one event, unless a different amount is shown in the schedule. An excess of $100 applies to any claim under this extension. Hoists, Hydraulic Lifts and Rams Section 1 is extended to cover mechanical breakdown or mechanical failure of any hoists or hydraulic rams permanently attached to the insured vehicle, where such failure or breakdown is not due to wear and tear or lack of regular maintenance. ‘Section 1: Exclusions - Vehicle Parts’, does not apply to this extension. The most we will pay under this extension is $10,000 for any one event unless a different amount is shown in the schedule. An excess of $500 applies for any claim under this extension. Ingestion or Entanglement of Foreign Objects Section 1 is extended to cover accidental loss resulting from entry, entanglement or ingestion of any foreign object into any mulching, chipping or agricultural implement or machine, provided this occurs whilst the insured vehicle is being operated for the purpose for which it was designed and in conjunction with the implement or machine. The most we will pay under this extension is $50,000 for any one event unless a different amount is shown in the schedule. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. Keys and Locks Section 1 is extended to cover the reasonable costs incurred in replacing keys, altering or replacing locking mechanisms, including the digital re-coding of these items, where any key giving access to an insured vehicle is lost, stolen or believed on reasonable grounds to have been duplicated without your permission during the period of insurance. The most we will pay under this extension is $5,000 for any event involving an individual insured vehicle or $20,000 for any one event involving multiple insured vehicles, unless a different amount is shown in the schedule. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. An excess of $250 applies for any one event under this extension. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 9 Lease Value Section 1 is extended to cover the greater of the reasonable market value or residual value of the insured vehicle if the insured vehicle is leased and becomes a total loss as a result of a loss covered under Section 1 of this policy. There is no cover for: a. Penalties for early termination, or b. Penalties for any additional distance travelled, or unpaid obligations under the lease at the time of the loss, or c. Penalties resulting from lack of servicing or poor maintenance, or d. ‘Balloon’ payments, or e. the amount by which the residual value of the insured vehicle exceeds 120% of its market value. Load Recovery and Debris Removal costs Section 1 is extended to cover the reasonable costs incurred in removing any debris and salvaging any load carried by an insured vehicle following an accident. This includes the reasonable costs of reloading or trans-shipping the load to the nearest place of safe storage and necessary disposal costs. This extension does not cover any fines or penalties incurred by you. The most we will pay under this extension is $25,000 for any one event, unless a different amount is shown in the schedule. Misfuelling and Fuel Contamination Section 1 is extended to cover accidental loss to an insured vehicle directly caused by: 1. Operation of the insured vehicle with the incorrect fuel type (diesel into a petrol vehicle or petrol into a diesel vehicle). 2. The accidental introduction of any diesel exhaust fluid (such as Ad-Blu or other emission control liquids) into the fuel system of the insured vehicle. ‘Section 1: Exclusions – Vehicle Parts’ does not apply to this extension. Cover under part 2. of this extension is limited to one claim per policy per period of insurance regardless of the number of vehicles covered by this policy. The most we will pay under part 2. of this extension is $10,000. An excess of $500 or the Section 1 insured vehicle excess shown in the schedule applies, whichever is the greater. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 10 Mutually Acceptable Assessors An assessor mutually agreed upon by us and you will assess any loss under this policy. New Replacement Vehicle Section 1 is extended to cover you if a car, station wagon, utility, van or four-wheel drive vehicle under 3,500kgs suffers a total loss covered under Section 1 of the policy within 12 months of it being first registered as a new vehicle in New Zealand. We will either: a. Provide a new replacement vehicle of the same make, model and specification, or b. If a new replacement is not available, pay the price for which such a vehicle was last available. If you elect not to have the insured vehicle replaced in accordance with this extension, we will indemnify you in accordance with ‘Section 1: Basis of Settlement’. Off Road Tyre/Track Damage Section 1 is extended to cover accidental loss during the period of insurance to any tyre (including its inner tube) or tracks fitted to an insured vehicle not principally used for driving on public roads, regardless of whether there has been loss to any other part of the insured vehicle or not. We will indemnify you at our option by: a. Repairing the damage; or b. Paying an amount equal to the reasonable cost of repair; or c. Replacing the tyre or tracks; or d. Paying an amount equal to the value of the tyre or tracks immediately prior to the loss. ‘Section 1: Exclusions – Tyres’, does not apply to this extension. The most we will pay under this extension is the purchase price of a new replacement tyre or tracks, less a reasonable deduction for the damaged tyre’s or track’s wear and tear, but in all cases not exceeding $5,000 per period of insurance. No excess applies to this extension. Personal Effects Section 1 is extended to cover the accidental loss to any personal effects of any driver or employee, following accidental loss to the insured vehicle covered under Section 1 of this policy. For the purpose of this extension ‘personal effects’ means any item not otherwise insured, of clothing (including reading and sunglasses) or any personal item normally carried (such as a handbag, wallet, personal music device or mobile phone) but excluding any laptop or item of NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 11 luggage. The personal effects are insured for their market value. The most we will pay for under this extension is $3,000 for any one event unless a different amount is specified in the schedule. An excess of $500 applies to this extension. Relief Driver Costs Section 1 is extended to cover the reasonable costs necessarily incurred to engage a relief driver to continue your business, if as the result of an accident involving an insured vehicle which was primarily used for the purpose of transporting goods for reward or fare-paying passengers following loss covered under Section 1 of this policy, your driver is: a. Injured and unable to return to work; or b. Temporarily stood down for counselling purposes (such as for counselling following a fatal accident), The most we will pay under this extension: 1. $250 for any single day; and 2. $5,000 in total for any one event, unless a different amount is specified in the schedule. Repair Authorisation You may authorise any reasonable repairs for accidental loss to an insured vehicle up to a maximum of $2,500 without prior notice to us. If the estimated repair costs exceed this amount, repairs must not be commenced without our consent or our assessor’s consent and our assessor must be given the opportunity of examining the loss to the insured vehicle prior to repair. Rewards Section 1 is extended to cover any reward offered by you with our prior approval, to secure the return of an insured vehicle that has been stolen or unlawfully converted if the theft or unlawful conversion is covered under Section 1 of this policy. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. Salvage, Safety and Security Section 1 is extended to cover the reasonable costs incurred in salvaging or recovering the insured vehicle, including the costs of ensuring its safety, security and delivery to a place of suitable repair or inspection, as a result of loss covered under Section 1 of this policy. We will also cover the reasonable costs of storage of the insured vehicle after a claim for loss NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 12 has been lodged and which has been accepted by us. Sets (wheel rims) Section 1 is extended to cover you following accidental loss to a wheel rim of an insured vehicle that is part of a set and that wheel rim is unable to be repaired or replaced, we will: a. Replace the set with a set that is equivalent in style, quality, and pre-damage condition, or b. Pay you an amount equal to the cost of replacing the set that is equivalent in style, quality, and pre-damage condition. As a condition of cover under this extension, you agree to surrender the complete set, including any undamaged parts of the set to us. The most we will pay under this extension is $10,000 for any one event. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. Signwriting Section 1 is extended to cover the reasonable cost incurred to repair or replace signwriting, artwork, wraps and or graphics that exist at the time of loss, following the total loss covered under Section 1 of this policy. Provided that the market value plus the value of the replacement signwriting does not exceed the insured vehicle’s value as provided in the vehicle declaration; and the value of the signwriting does not exceed $10,000 per insured vehicle. Theft Cost – Hire of alternative vehicle Section 1 is extended to cover the necessary and reasonable costs incurred by you of hiring another vehicle of a similar make and model following loss caused by theft or unlawful conversion of an insured vehicle covered under Section 1, provided that: a. The period of cover for the extension begins at the date the insured vehicle is stolen and ends when we have settled the claim in full or the insured vehicle is recovered and is not a total loss, and has been repaired if needed and; b. The cost of the first 7 days of hire is not covered; and c. This extension does not cover costs charged by the hire company for insurance, petrol or normal running costs. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. Uninsured Third-Party Protection Section 1 is extended to cover any uninsured accidental loss (including any excess) caused by an identifiable and uninsured driver of another vehicle occurring in New Zealand during the period of insurance, provided that: NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 13 a. Full liability is admitted by that third party, or you have provided us with evidence establishing full liability of that third party; and b. You supply us with enough information to identify the third party (such as the correct registration, their name and address). The most we will pay under this extension for any one insured vehicle for any one event is $5,000. Unspecified Trailers Section 1 is extended to cover any unspecified trailer you own, hire or borrow for accidental loss or damage, or stolen, provided it is not otherwise insured. We will pay at our option either: a. The market value or b. The cost to repair the trailer The most we will pay for under this extension is $2,000 for any one event unless a different amount is specified in the schedule. Windscreens and Window Glass If your claim under Section 1 is solely for loss to windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass (including scratching or damage to bodywork resulting solely from broken glass) then no excess applies to this extension, unless otherwise shown in the schedule. Where there was tinting or signwriting affixed to any of the above, we will also pay to have the tinting or signwriting reinstated on that part that suffered the loss, however we will not pay for any costs associated with joining or associated tinting or signwriting on other parts of the insured vehicle under this extension. SECTION 1: OPTIONAL POLICY EXTENSIONS These optional extensions only apply where specified in the schedule. They are subject to the terms and exclusions of the policy. Accessories and spare parts away from the vehicle Section 1 is extended to cover any insured vehicle accessories and its spare parts while not fitted to the insured vehicle and stored at: NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 14 a) Your office or depot, b) Your home, or c) Any secured worksite. The most we will pay under this extension is $5,000 for any one event unless a different amount is specified in the schedule. Agreed Value In the event of a total loss covered under Section 1, we will pay the agreed value as specified in the schedule. Loss of Use In the event of: a. loss to an insured vehicle covered under Section 1, or b. a natural disaster which prevents you being able to recover an insured vehicle from a building or carpark due solely to the denial of access to that building or carpark by a local, regional or national authority due to safety concerns of the structure, section 1 is extended to cover the reasonable costs incurred to hire a substitute vehicle of a similar make, model and specification that is capable of carrying out the activities of the insured vehicle during the ‘Period of Cover’ (as defined below). Cover under this extension is subject to the following: 1. It only applies to the insured vehicle(s) stated in the schedule as being subject to this extension; 2. The extension does not apply if you have available a free substitute vehicle or once you purchase an additional vehicle; 3. The repair of the insured vehicle must be carried out as soon as reasonably practicable; 4. This extension does not cover costs charged by the hire company for insurance, petrol or normal running costs; and 5. This extension does not apply if you have made a claim under ‘Section 1: Automatic Policy Extensions - Theft Cost – hire of alternative vehicle’. If no vehicle of a similar make, model and specification is available for hire (you have consulted with us as to availability of such a vehicle), subject to the application of all other terms of this extension, we will pay you the daily rate shown in the schedule for the ‘Period of Cover’ subject to the following terms. For the purposes of this extension, ‘Period of Cover’ means the period: a. Beginning: i. When the insured vehicle is delivered to a repairer agreed to by us to start the repair; or NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 15 ii. The date of the loss, if the insured vehicle cannot be driven, or is deemed a total loss at that date; or iii. The date of the natural disaster that results in the insured vehicle becoming unrecoverable from a building or carpark, and b. Ending: i. In the case of repair, when the repairs are completed and the insured vehicle is available to be collected or delivered, or ii. In the case of a total loss, when we have settled your claim under Section 1 in full, or iii. When the building or carpark that the insured vehicle was unrecoverable from is cleared by a local, regional or national authority to be safe to remove the insured vehicle from, or iv. When you have returned the substitute hire vehicle, whichever occurs first. The most we will pay under this extension for any one insured vehicle is the limit stated in the schedule. An excess equal to the cost of the first 7 days hire applies to all claims under this extension. Portable Electronic Equipment Section 1 is extended to cover accidental loss to portable electronic equipment specified in the schedule. We will pay the reasonable replacement cost of the portable electronic equipment. The most we will pay for under this extension are the amounts specified in the schedule. An excess of $250 applies to any claim under this extension including where the cause of loss is theft. Where the insured vehicle suffers a total loss, the amount payable under this extension is in addition to the ‘Section 1: Basis of Settlement’. SECTION 1: EXCLUSIONS The following exclusions apply only to Section 1. The ‘General Policy Exclusions’ also apply to Section 1 of this policy. Consequential Loss This policy does not insure: a. Loss of use of any kind whatsoever, or costs or expenses that result from that loss of use, unless expressly insured under ‘Section 1: Automatic Extensions’, ‘Section 1: Optional Extensions’, or under ‘General Policy Extensions Applicable To Sections 1 And 2 Automatic Extensions' or b. Depreciation or reduction in value. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 16 Drilling Equipment This policy does not insure loss to any drill shaft or bit of any type of drilling rig or machinery whilst being used for the purpose of drilling below ground or surface level. Faulty Design This policy does not insure loss caused by or in connection with the insured vehicle’s faulty or defective design, specification or materials. However, this exclusion is limited to the part immediately affected and does not apply to any resultant loss to any other part of the insured vehicle. Tyres This policy does not insure damage to or destruction of tyres. However, this exclusion will not apply if the damage or destruction results from separate loss that is covered by this policy. Vehicle Parts 1. This policy does not insure loss to the following parts of an insured vehicle: a. Engine and all engine parts, b. Cooling systems, including but not limited to radiators, heat exchangers, cooling fans, pressure caps, water pumps, thermostats and hoses, c. Hydraulic system, including but not limited to shock absorbers and suspension systems, d. Transmission system, including but not limited to gearbox, drive shafts, axles, differentials, clutches, and wheel hubs, e. Fuel systems, f. Braking systems, g. Electrical/electronic systems, computer systems, and mechanical systems, h. Pumping and vacuuming systems, i. Any fixed plant machinery (including but not limited to food/drink preparation equipment), j. Underground exploratory devices. 2. However, this exclusion does not apply to loss that is the direct result of: a. fire, b. the insured vehicle or a conveying vehicle overturning, c. the insured vehicle suffering an impact or collision with an external object, d. he insured vehicle being partly or fully immersed in a body of water, e. the insured vehicle being stolen or converted, f. the insured vehicle being maliciously damaged, NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 17 g. hail, snow, storm or lightning, h. natural disaster, i. impact or damage by animals. Wear and Tear This policy does not insure loss caused by or in connection with: 1. wear and tear; or 2. rust or corrosion; or 3. action of light and fading. SECTION 1: BASIS OF SETTLEMENT Basis of Settlement 1) If we consider the vehicle is economic to repair, we will at our option: a) pay the reasonable cost of repairs carried out to the insured vehicle; or b) pay the cash equivalent of the reasonable cost of repairs to the insured vehicle; If we consider the vehicle is a total loss, we will settle your claim by whichever of the following applies: a. we will pay you the market value of the insured vehicle; or b. if the insured vehicle is hired, rented, borrowed or loaned we will pay the market value of that vehicle to a maximum of $250,000; or c. we will replace the insured vehicle as outlined in ‘Section 1: Automatic Extensions – New Replacement Vehicle’; or d. if the insured vehicle is leased, we will settle as outlined in ‘Section 1: Automatic Extensions – Lease Value’; or e. If ‘Section 1: Optional Policy Extensions – Agreed Value’ applies, we will pay you in accordance with the terms of that extension. 2) We are not liable for that portion of any repair or replacement that improves the condition of the insured vehicle beyond its condition before the loss. 3) If any part or component of the insured vehicle is no longer manufactured, we are not liable for more than the supplier’s or manufacturer’s list price. Where no such list price applies, the most we will pay will be the lesser of: a) The price of the part’s closest New Zealand equivalent; or b) The last known list price in New Zealand; or NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 18 c) The cost of making a new part. 4) The excess shown in the schedule and any excess payable under any extension in ‘Section 1: Automatic Policy Extensions’ or ‘Section 1: Optional Policy Extensions’ will be deducted from the amount of the loss for each event. Where the cause of loss is theft or unlawful conversion or fire (fire not resulting from impact) to the insured vehicle, no excess will apply to the Section 1 claim unless stated in the schedule or payable under any ‘Section 1: Automatic Policy Extension’ or ‘Section 1: Optional Policy Extension’. If more than one insured vehicle suffers loss from a single event, only one excess shown in the schedule will apply, being the highest excess, together with any excess payable under any extension in ‘Section 1: Automatic Policy Extensions’ or ‘Section 1: Optional Policy Extensions’. SECTION 2: LIABILITY TO THIRD PARTIES Cover We will insure you against your legal liability to pay damages for: 1. Accidental bodily injury to any person; or 2. Accidental loss to any property, occurring in New Zealand during the period of insurance and arising from the use of an insured vehicle (including whilst being loaded or unloaded). Provided all of the above criteria are met, this cover extends to cover your legal liability: 1. In connection with the lawful movement by you of any vehicle which: a. Is parked in a position which prevents or impedes the loading or unloading of the insured vehicle; or b. Prevents or impedes the legitimate passage of the insured vehicle. ‘Section 2: Exclusions - Property in Care, Custody or Control’ will not apply to the vehicle being moved; and 2. In connection with the insured vehicle being used in accordance with the permitted use, for the purpose of towing any one trailer or caravan, or any one incapacitated vehicle, while attached to the insured vehicle. However, the towing must not be for hire or reward. We will insure you for your legal defence costs and expenses reasonably and necessarily incurred, provided that they are incurred: a. With our consent, b. To defend any civil proceeding (or threat of a civil proceeding) brought against you, NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 19 c. In respect of any alleged liability that, if proven, would be covered under section 2 of this policy. We will meet these costs even if the civil proceeding seems groundless. We will not pay for legal defence costs and expenses in connection with any criminal proceeding, whether actual or threatened, including where a victim is seeking reparation. SECTION 2: AUTOMATIC POLICY EXTENSIONS In addition to the cover under ‘Section 2: Liability to third parties’, we also provide the following automatic policy extensions. All amounts in these extensions included in the limits of liability shown on the schedule for Section 2. They are subject to the terms and exclusions of the policy. Airside Liability Section 2 is extended to cover your liability arising out of the ownership, operation or maintenance of any vehicles within the restricted area of any airport used for scheduled commercial flights. The most we will pay under this automatic extension for any event is $2,000,000, unless a different amount is shown in the schedule. ‘Section 2: Exclusions – Airside Liability’ does not apply to claims under this extension. Cleaning up Costs Section 2 is extended to cover all costs lawfully charged by any government body or authority or any other entity for cleaning or restoring the site of an accident following loss, which is covered under ‘Section 1: Cover For The Insured Vehicle’ of this policy. The most we will pay under this extension is $50,000 for any one event, unless a different amount is shown in the schedule. An excess of $500 applies for each event to claims under this extension. Criminal Court Action/Inquiries/Inquests Section 2 is extended to cover legal costs and expenses necessarily and reasonably incurred to: a. Defend a charge of manslaughter, or dangerous driving causing death or careless driving causing death, and NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 20 b. For legal representation at any inquiry or coroner’s inquest in connection with the death; resulting from any person covered under Section 2 of this policy using a vehicle insured under this policy. The most we will pay under this automatic extension for any event is $10,000. ‘Section 2: Exclusions – Criminal Offences’ does not apply to claims under this extension. Driver’s Indemnity Section 2 is extended to cover the legal liability and legal costs and expenses of any other person caused by or through or in connection with their use of an insured vehicle or a vehicle covered under ‘Section 1: Automatic Extensions – Employee’s Vehicles’, in the same manner as we cover you, provided: a. Such use has your permission, and b. Their liability is not covered by any other insurance, and c. The person using the insured vehicle meets all the same terms of this policy that you must meet. Exemplary Damages Section 2 is extended to indemnify you and any driver who is in charge of the insured vehicle with your consent against liability for punitive or exemplary damages for: a. accidental bodily injury, or b. accidental loss to any property arising from use of an insured vehicle (including whilst being loaded or unloaded) which occurs in New Zealand during the period of insurance. The most we will pay under this extension is $500,000 for any one claim, or series of claims arising from one accident, and $1,000,000 in the aggregate for all claims during the period of insurance, unless different amounts are shown in the schedule. In addition to any other policy excess, each claim under this extension will be subject to an excess of 10% of any sum for which you or the driver is found legally liable. However, a minimum excess of $5,000 applies to each claim. There is no indemnity under this extension: i. Arising from any dishonest, fraudulent or malicious act or omission by you or anyone acting on your behalf; or ii. arising from any claim first notified to you but not notified to us within six months of that date. ‘Section 2: Exclusions – Exemplary Damages’ does not apply to claims under this extension. Financial Charge Section 2 covers the balance of any outstanding charge on an insured vehicle where: NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 21 a. The insured vehicle is purchased during the period of insurance; and b. The insured vehicle suffers loss which is covered under Section 1 of the policy; and c. You have made proper enquires in relation to the existence of any charge before making the purchase; and d. You are liable to pay the outstanding charge. The most we will pay under this extension is $5,000 for any one insured vehicle, unless a different amount is shown in the schedule. Hired in Vehicle – Consequential Loss if you hire or rent a vehicle during the period of insurance and you reject the owner’s statutory offer of insurance, Section 2 is extended to cover your liability to the owner of that vehicle for consequential losses caused by loss covered under Section 1. The most we will pay under this extension for any one event is $50,000 unless a different amount is shown on the schedule. ‘Section 2: Exclusions – Property in Care, Custody or Control’ does not apply to claims under this extension. Marine Liability Section 2 is extended to cover your liability for any resulting General Average and salvage charges recoverable from you it at law, if an insured vehicle is transported by sea between places in New Zealand during the period of insurance. This applies regardless of whether or not the insured vehicle suffers loss. General Average means the general average and salvage charges incurred to avoid a loss covered under this policy that are determined by the contract of carriage, and/or governing law and practice of carriage. Passenger Liability Section 2 is extended to cover the legal liability of any person in connection with their being a passenger in (including getting into or out of) any insured vehicle. Provided that the person’s liability is not covered under any other insurance or under any other clause in this policy. Principal’s Indemnity Section 2 is extended to indemnify the principal of any construction or works project for their vicarious liability: a. Where the liability arises in connection with the use of an insured vehicle by you, or your employees on that project, and b. The liability is for accidental loss to property or accidental bodily injury occurring in New NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 22 Zealand during the period of insurance. Reparations Section 2 is extended to cover your liability for any reparation that you become legally liable to pay arising from accidental bodily injury or accidental loss to property happening during the period of insurance in connection with use of an insured vehicle, including while it is being loaded or unloaded. Amounts payable under this extension are included in, and not additional to, the limits of our liability shown on the schedule for ‘Section 2: Liability to third parties’, in respect of any one claim or claims arising directly or indirectly from any one loss. The most we will pay for any one event is 1,000,000 unless a different amount is shown on the schedule. Cover for defence costs do not apply to a claim under this extension. We will not pay defence costs in relation to an offence. This extension does not cover reparation arising from prosecution of an offence under the Health and Safety in Employment Act 1992 and/or the Health and Safety at Work Act 2015 (or any replacement Act) and any subsequent amendments. Vibration or Weight Damage Section 2 is extended to cover your liability for accidental loss to any property (including roads) during the period of insurance caused by: a. vibration caused by the insured vehicle, or b. the weight of the load carried by the insured vehicle, or c. the weight of the insured vehicle, or d. the combined weight of the load and the insured vehicle. The most we will pay under this extension is $500,000 for each claim or series of claims arising from one event, unless a different amount is shown in the schedule. An excess of $2,000 will apply to each event. ‘Section 2: Exclusions - Vibration or Weight’ does not apply to claims under this extension. Vicarious liability Section 2 is extended to cover your legal liability while: a. Any vehicle not belonging to you and not provided by you, is being used for your business by any person in your employment, or b. Any vehicle hired in by you is being used for your business by any hired-in or temporary driver. We will not cover you for: NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 23 a. Loss to that vehicle or to property being transported by it, or contained in it; b. Any part of the liability which is also covered under any other existing insurance. SECTION 2: EXCLUSIONS The following exclusions apply only to Section 2. The ‘General Policy Exclusions’ also apply to Section 2 of this policy. This policy does not insure: Airside Liability Liability arising out of the ownership, operation or maintenance of any vehicle within the restricted area of any airport used for scheduled commercial flights. Note: Please see ‘Section 2: Automatic Extensions – Airside Liability’. Contractual Liability Liability arising out of a contract or agreement unless you would have been liable even without such contract or agreement. Criminal Offences Any legal defence costs, fines or court costs arising from the prosecution of any offence under any Act of Parliament including any regulations, rules or by-laws made under any Act of Parliament. Note: Please see ‘Section 2: Automatic Extensions – Criminal Court Action/Inquiries/Inquests’. Drivers Liability of any driver, including the insured, for or arising from: a. Bodily injury to, or b. Loss to any property owned by, that driver, who claims under Section 2 of this policy. Exemplary Damages Liability for punitive or exemplary damages. Note: Please see ‘Section 2: Automatic Extensions – Exemplary Damages’. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 24 Liability Determined by Foreign Court Liability determined by any court outside New Zealand. Operation of Plant or Machinery Liability arising directly or indirectly out of the use of any mechanical plant component while it is being used or operated for the purpose for which it was designed (e.g. the operation of a crane or back hoe) however, this exclusion does not apply to the operation of any vehicle mounted mechanical plant whilst being used to load or unload that vehicle, or of any fork hoist. Property in Care, Custody or Control Liability for loss to any property that belongs to, or is/was in your care, custody or control, other than: a. Personal baggage and wearing apparel of any passenger; or b. A building leased or rented by you; or c. A vehicle (which is not insured under Section 1 of the policy or owned by you), which is being towed by an insured vehicle. However, this does not apply to vehicles which are towed or recovered for reward where your business includes a vehicle recovery service. Transporting of a Load Liability in connection with the transporting of a load to, or away from, the insured vehicle. However, this exclusion does not apply to the actual loading or unloading of the insured vehicle. Vehicles Liability for loss to any vehicle that is insured under this policy. Vibration or Weight Liability for loss to property (including a road) arising from: a. Vibration caused by the insured vehicle, or b. The weight of the load carried by the insured vehicle, or c. The weight of the insured vehicle, or d. The combined weight of the load and the insured vehicle. Note: Please see ‘Section 2: Automatic Extensions - Vibration or Weight Damage’. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 25 SECTION 2: BASIS OF SETTLEMENT Basis of Settlement 1. The most we will pay for any event under Section 2: a. For legal liability is $10,000,000 unless otherwise stated in the schedule. b. For legal defence costs and expenses is $1,000,000 unless otherwise stated in the schedule. 2. The legal defence costs and expenses cover is additional to the cover available for legal liability. 3. If our maximum liability is insufficient to cover you and any other party entitled to cover under Section 2, it will apply first to you. 4. We are not liable for any Section 2 excess shown in the policy or schedule. 5. The most we will pay under each automatic or optional extension will be the higher of: a. The amount specified in the policy; or b. The amount specified in the schedule. GENERAL POLICY EXTENSIONS APPLICABLE TO SECTIONS 1 AND 2 AUTOMATIC EXTENSIONS Additions and Deletions 1. Additions Any vehicle purchased or leased by you during the period of insurance is an insured vehicle under this policy from the date of purchase or commencement of the lease. ‘Section 1: Basis of Settlement’ will apply for any claim, however, the most we will pay under this extension is $300,000. 2. Deletions If an insured vehicle is sold or the lease ends during the period of insurance, it ceases to be an insured vehicle under this policy from the date of sale or the date the lease ends. 3. Premium adjustment a. If there are 14 or less vehicles noted on the vehicle declaration at policy inception, you must advise of any acquisitions within 30 days of its acquisition, and an additional premium NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 26 must be paid. b. Where 15 or more vehicles are noted on the vehicle declaration at policy inception, the premium payable by you under this policy will be adjusted at the end of the period of insurance to reflect insured vehicles added or deleted under this extension during the period of insurance. We will apply the additions and deletions premium rate as agreed, to 50% of the difference in value between all additions and deletions, to calculate any additional premium to be paid to us by you, or any refund of premium we are to pay to you for that period of insurance, and you will pay any additional premium, or we will refund such sum. 4. Pre-Renewal Period If a vehicle is purchased or disposed of after you have begun the renewal process of a current policy, and you have completed the vehicle declaration, these vehicles will be treated as Additions and Deletions per 1 & 2 above, even though the transactions are outside the current period of insurance. Premium adjustments for these vehicles are calculated from the date of acquisition or disposal. Breach of Condition This policy will not be invalidated by any breach of condition, where the breach occurs prior to the loss and without your knowledge or consent, provided that we are advised immediately after you become aware of the breach and you pay us any additional premium we may require. Counselling If an event involving an insured vehicle that is covered under this policy involves a fatality, we will cover you for the reasonable costs incurred in your driver obtaining professional counselling in excess of any entitlement under Accident Compensation Corporation. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. No excess applies to this extension. Emergency Public Relations You are insured for the reasonable costs of public relations expenses incurred with our prior written consent, as a result of a claim payable under this policy. The most we will pay under this extension for any one event is $25,000 unless a different amount is shown in the schedule. An excess of $2,500 applies to this extension. Hired In Vehicles If you hire in or rent in a vehicle during the period of insurance and you accept the rental owner’s statutory offer of insurance, this extension covers: NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 27 1. Liability to third parties as provided under ‘Section 2: Liability to third parties’ and ‘Section 2: Automatic Policy Extensions‘ but only for the difference between the amount payable for liability under the statutory offer of insurance and the maximum amount payable under ‘Section 2: Basis of Settlement’, and 2. The difference between the Section 1 excess under this policy and any deductible that would have been applicable under the rental vehicle owner’s insurance had you accepted the offer of such cover, for any event. For the sake of clarity, this includes non-owned trailers. Hired Out Vehicle If you hire out or rent out an insured vehicle during the period of insurance then the policy is extended to cover: 1. loss to the insured vehicle under Section 1; and 2. liability, defence costs and expenses of any other person caused by or through or in connection with their use of the insured vehicle under Section 2. Provided that: a. The hirer does not breach any express or implied term of the agreement to hire or rent the insured vehicle; b. There is no other insurance which covers the loss; and c. Use by the hirer is comparable with your business or occupation. ‘General Exclusions, Vehicle Use (1)’ and ‘General Policy Extensions Applicable To Sections 1 And 2 Automatic Extensions – Invalidation’ do not apply to any claim under this extension. Invalidation This policy covers you for loss or liability that arises when an insured vehicle is being used in the circumstances excluded in: 1. General Policy Exclusions – ‘Alcohol, Drugs and Other Intoxicating Substances’, 2. General Policy Exclusions – ‘Overloaded Vehicles, 3. General Policy Exclusions – ‘Intentional or Reckless Acts’, 4. General Policy Exclusions – ‘Unlicensed Drivers’, 5. General Policy Exclusions – ‘Unsafe Vehicles’, 6. General Policy Exclusions – ‘Driving Hours’, Provided that: a. The driving in those excluded circumstances was without your knowledge or consent; and b. You have not waived any right of recovery against the driver, and, NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 28 c. You cooperate fully with us and the police in pursuit of compensation from the driver. The liability of the driver or person responsible for the loss or liability is not insured under this extension. For the purposes of this extension only, your knowledge is deemed to include the knowledge of: a. Any person employed by you with your delegated authority to control the conduct of the driver or b. The driver, if the driver is of such senior position within your business that his/her knowledge or consent is by law deemed to be your knowledge or consent. Release of Liability Where you are required by legislation or by contractual agreement to release: a. Any fire protection equipment suppliers; b. New Zealand Government trading as Kiwi Rail; c. Any oil company; or d. Any other party to an agreement which has been declared to and accepted by us, from liability arising from loss insured by this policy, the release is allowed without prejudice to this insurance. OPTIONAL POLICY EXTENSIONS These extensions are optional and only apply when stated in the schedule. They are subject to the terms and exclusions of the policy. Burning Cost The premium payable under this policy shall be adjusted on claim costs incurred (claim costs paid plus outstanding estimates) during the period of insurance. This will be calculated as follows: 1. 30 days after the end of the period of insurance the ‘Total Premium’ shall be adjusted by dividing the ‘Incurred Claims’ cost by the multiplier as agreed in the schedule. 2. If the premium produced is greater than the ‘Total Premium’ paid, you shall pay the difference but not exceeding the percentage of the deposit premium as agreed in the schedule. 3. If the premium produced is less than the ‘Total Premium’ paid, we shall refund the difference to a minimum retained premium of the agreed percentage in the schedule of the deposit premium. For the purposes of this extension: ‘Total Premium’ shall mean deposit premium plus any additional or return premium adjustments processed during the period of insurance. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 29 ‘Incurred Claim’ costs will mean the total amount of claims paid and reasonable estimates of claims yet to be paid, including fees, net of actual and estimated recoveries. Profit Share If, at the end of the period of insurance, you agree to renew the insurance with us, we will adjust the premium paid for that period of insurance as follows: 1. 30 days after the end of the period of insurance the ‘Net Premium’ will be totaled together with ‘Incurred Claims’ costs as a result of accidents during the period of insurance, and 2. A loss ratio will be calculated by comparing the ‘Net Premium’ to the total ‘Incurred Claims’ costs, and 3. If this loss ratio is more than 60%, no profit share refund is payable. If the loss ratio is 60% or less, the amount of profit share refund will be calculated by using one of the following profit share percentages. Profit Share Percentage a. If the loss ratio is 40% or less – 20% profit share refund b. If the loss ratio is between 41% and 50% – 15% profit share refund c. If the loss ratio is 51% or more but not greater than 60% – 10% profit share refund If a profit share is payable, then it will be calculated by multiplying the profit share percentage against the sum of ‘Net Premium’, less ‘Incurred Claim’ costs. This adjustment is processed net of commission. For the purposes of this extension: ‘Net Premium’ will mean gross premium and any additional or return premium adjustment, less commission if applicable ‘Incurred Claim costs’ will mean the total amount of claims paid and reasonable estimates of claims yet to be paid for claims arising in the period of insurance, including fees, net of actual and estimated recoveries. GENERAL POLICY EXCLUSIONS These exclusions apply to all parts of this policy. Accident Compensation Act This policy does not insure: 1. Liability for bodily injury which is covered by the Accident Compensation Act 2001 (‘Act’), and 2. In particular, liability for bodily injury payable as reparation for any amounts which are covered by the Act, or would be covered but for: NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 30 a. A failure by the victim of offending to correctly notify a claim to the Accident Compensation Corporation within the time required under the Act, b. The victim’s decision, for whatever reason, not to claim any amount he or she would be entitled to claim under the Act, c. A decision by the Accident Compensation Corporation to decline a claim or limit its liability in whole or in part and for any reason whatsoever. Alcohol, Drugs and Other Intoxicating Substances This policy does not insure loss or liability when a vehicle is being driven by any person, including you, who: 1. Has a proportion of alcohol in their breath or blood that exceeds the legal limit, or 2. Is under the influence of any intoxicating substance or drug, or 3. Fails or refuses to supply a breath or blood sample as required by law, or 4. Fails or refuses to stop, or remain at the scene, following an accident as required by law. This exclusion does not apply to any claim for loss arising from theft or unlawful conversion of the insured vehicle. It will be assumed that for 1. above, that at the time of the loss or when liability arose, the proportion of alcohol was no less than the proportion of alcohol in any subsequent blood sample or breath test subsequently carried out. Asbestos This policy does not insure loss or liability arising from use or driving of any vehicle insured under this policy in connection with asbestos in any form, whether used, carried, stored, worked upon or otherwise. Confiscation This policy does not insure loss or liability in connection with confiscation, nationalisation, requisition, destruction of, or damage to property by order of any Government, Public or Local Authority unless the order is given to prevent or control any accidental loss or damage that would otherwise have been covered by this policy. Driving Hours This policy does not insure loss or liability when a vehicle is being driven by any person, including you, who drives or operates a vehicle in breach of any enactment or regulation relating to ‘Work Time and Log Books’ requirements under New Zealand Law. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 31 Electronic Data This policy does not insure loss of any electronic data in a computer operating system, programme, software, information repository, microchip, integrated circuit or similar device in computer equipment or non-computer equipment. This includes: 1. loss of, alteration of, or damage to, or 2. any cost in correcting or reprogramming any electronic data, or 3. a reduction in the functionality, availability or operation of, or 4. the cost involved in retrieving data, or 5. the value of any data This policy also does not insure any costs or expenses associated with prosecution or liability resulting from the above. However, parts 1,2,3 or 4 of the exclusion above do not apply to loss of electronic data that results directly from a separate claimable event under Section 1 of this policy. Intentional or Reckless Acts This policy does not insure loss or liability in connection with any actual or alleged: a. dishonest, fraudulent, criminal, unlawful, or malicious act or omission; b. willful breach of any statute, contract, or duty; c. conduct intended to cause damage, loss, or liability with reckless disregard for the consequences. Nuclear This policy does not insure loss or liability of any type in connection with nuclear weapons material, ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion (including self-sustaining process of nuclear fission) of nuclear fuel. Overloaded Vehicles This policy does not insure loss or liability if the vehicle is loaded or operated contrary to the manufacturer’s recommended specifications or loaded or operated contrary to regulations or statute. This exclusion does not apply to any claim for loss arising from theft or unlawful conversion. Sanctions This policy does not insure loss or liability of any type to the extent that the provision of such cover or the payment of such claim would contravene any sanction, prohibition or restriction under any United Nations resolution or trade or economic sanctions, laws or regulations of New Zealand, Australia, United Kingdom, the United States of America, or the European Union. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 32 Seepage, Pollution and Contamination This policy does not insure loss or liability of any type in connection with seepage, pollution or contamination, unless sudden, unintended and unexpected, occurring during the period of insurance. The coverage under this policy is limited to costs and expenses reasonably and necessarily incurred to: 1. Remove, store and/or dispose of debris or the decontamination, demolish, dismantle, dewater, shore up, prop, underpin or carry out other temporary repairs consequent upon damage which is covered by the policy and caused by an insured event. 2. Demolish and remove any property belonging to the insured which is no longer useful for the purpose it was intended for, provided such demolition and removal is necessary for the purpose of the reinstatement or replacement. 3. Clean up and remove pollutants from land confined to insured premises if the discharge, dispersal, seepage, migration, release or escape of the pollutants is caused by an insured event. Terrorism This policy does not insure loss or liability of any type in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence and including in connection with controlling, preventing, suppressing, retaliating against or responding to any act of terrorism. Unlawful to Insure This policy does not insure loss or liability of any type in connection with any activity, event or occurrence deemed to be unlawful to insure against. Unlicensed Drivers This policy does not insure loss or liability if the insured vehicle is being used or driven by any person who: 1. Does not have a license that is in full force and effect to drive the insured vehicle at the time and place of the loss; or 2. Is not complying with the conditions of their license. This exclusion will not apply if: a. Prior to the loss, the driver had held the appropriate license, is not disqualified from holding or obtaining the appropriate license, and actually obtains the appropriate license without carrying out a further test; or b. The vehicle is being used for the purpose of teaching a learner to drive, if all requirements of the law are being complied with. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 33 Unsafe Vehicles This policy does not insure loss or liability if the vehicle is being used in an unsafe condition. This includes any condition: 1. Which is contrary to any recommendation by the manufacturer of the vehicle, or 2. As a result of which the vehicle is not fit to deal with any peril likely to be encountered during the course of its operation, when you, or any driver was (or should have been) aware of that condition. This exclusion does not apply to any claim for loss arising from theft or unlawful conversion of the vehicle Vehicle use This policy does not insure loss or liability arising from use or driving of any vehicle insured under this policy whilst: 1. Hired out or leased out to a third party for reward; or 2. On a race track, or for pace making, reliability trials, hill climbs or speed tests, or while being used in preparation for any one of these activities. War This policy does not insure loss or liability of any type in connection with controlling, preventing or suppressing any of the following: war, invasion, act of foreign enemy, hostilities or warlike operations (whether war is declared or not), civil war, civil commotion assuming the proportions of or amounting to a popular rising, military rising, mutiny, rebellion, revolution, insurrection, military or usurped power. HOW TO CLAIM What You Must Do If anything happens that may lead to a claim under this policy, you must: 1. Do what you can to take care of the vehicle and to prevent any further loss, expense or liability, and 2. Tell us as soon as possible, and 3. Notify the police as soon as possible if it is believed any loss was caused by an illegal act of a person other than a person covered by this policy, and 4. Allow us to examine the vehicle before any permanent repairs are started, and 5. Send to us, as soon as possible, anything received from anyone about a claim or possible claim NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 34 against you, or anyone else entitled to cover under this policy, and 6. Give us any information or help that we ask for, and 7. Consent to your personal information in connection with the claim being: a. Disclosed to us, and b. Transferred to Insurance Claims Register Limited, and 8. Tell us immediately if you, or anyone else entitled to cover under this policy, are charged with any offence in connection with the use of an insured vehicle which resulted in loss of property or bodily injury to another person. What You Must Obtain Our Agreement To Do You, and anyone else entitled to cover under this policy, must obtain our agreement before you: 1. Incur any expenses in connection with any claim under this policy, or 2. Negotiate, pay, settle, admit or deny any claim or reparation order made against you, or anyone else entitled to cover under this policy, or 3. Negotiate, make or agree any offer of amends to a victim of offending by any person covered by this policy, or 4. Do anything that may prejudice our rights of recovery. Things You Must Do After We Pay A Claim You and anyone else entitled to cover under this policy must: 1. Tell us if any lost or stolen property which was part of the claim is found or recovered, and hand it over to us if we request it. 2. Tell us if any person is ordered to make reparation to you for any loss or cost which is part of the claim and reimburse us for that payment as soon as any reparation is received. Actions We May Take 1. Subrogation Once we have accepted any part of a claim under this policy, we may assume your, or any other person entitled to cover under this policy’s, legal right of recovery. If we initiate a recovery, we will include any excess, and any other uninsured losses suffered. Where we do this, you (or other person entitled to cover) agree to pay your or their proportional share of the recovery costs, and subsequently the proceeds of the recovery will be shared on the same proportional basis, except that we will reimburse the excess first. You, or any other person entitled to cover, must fully co- operate with any recovery process. If you don’t, we may recover from you the amount paid in relation to the claim. 2. Conduct Of Defence We have the sole right to act in your name, or in the name of any other person entitled to cover NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 35 under this policy, and on your or their behalf to defend, negotiate or settle any liability covered under ‘Section 2: Liability to third parties’ as we see fit (this will be done at our expense). We may elect at any time to pay the maximum amount payable under this policy, or any lesser sum that the liability can be settled for. Once we have paid this (plus any defence costs and expenses covered by this policy and already incurred, but less any applicable excess) our responsibility to you or any other person covered under this policy is met in full. The lawyers we instruct to act on your behalf or on the behalf of any other person entitled to cover, are authorised by you or such other person, to disclose to us any information the lawyers receive in that capacity, including information they receive from you or any other person. 3. Waiver Of Subrogation (Group Of Related Companies) Where you are a parent or subsidiary in a ‘group of related companies’, we waive any right of recovery you may have against any other company in the same group. A ‘Group Of Related Companies’ means a group of companies related to one another by virtue of such ownership. 4. Recoveries If an insured vehicle or any property we have paid a claim for is later found or recovered, you must tell us immediately and hand it over to us if we request it. We have the right to keep the insured vehicle and any property that we have paid a claim for under this policy, including any proceeds if it is sold. 5. Reparation If any person is ordered to make reparation to you for loss to an insured vehicle that we have paid a claim for under this policy, then you must tell us. Any payments received must first reimburse our claims payment up to the amount of any reparation received. GENERAL CONDITIONS YOUR OBLIGATIONS 1. Breach Of Any Condition If: a. you, or b. any other person we insure under any section of this policy, or c. anyone acting on your behalf, breaches any of the conditions of this policy, we may: i. Decline the claim either in whole or in part, ii. Decline any claim connected with the same event that you make on any other policies you have with us, NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 36 iii. Declare either this policy or all insurance you have with us to be unenforceable. This is at our sole discretion. 2. True Statements And Answers The application is the basis of this policy. Complete and correct statements and answers must be given (whether by you or any other person) when you: a. Apply for this insurance, and/or b. Notify us regarding any change in circumstances, and/or c. Make a claim under this policy. 3. Reasonable Care You and anyone using an insured vehicle, must take reasonable care at all times to avoid circumstances that could result in a claim. There is no cover if you are reckless or grossly negligent. 4. Complying With This Policy We will not pay any claim unless you, or any person who acts on your behalf, complies with this policy. This also applies to any other person who can claim under the policy. 5. Changes In Circumstances You must tell us immediately if there are any: a. Modifications to an insured vehicle, or b. Change in the use of an insured vehicle, or c. Material changes that might alter the nature of the risk insured or increase the chance of a claim under this policy. Information is ‘material’ where we would have made different decisions about either: i. Accepting your insurance, or ii. Setting the terms of your insurance, if we had known that information. If in any doubt, notify us anyway. The ‘risk insured’ refers to both: i. The actual property or liabilities covered (known as physical hazard), and ii. You or other persons covered by this policy (known as moral hazard). 6. Vehicle Values All values of insured vehicles stated in the vehicle declaration must represent, as nearly as possible, their market value. Values such as book value, depreciated cost, written down value and residual value are not sufficient to comply with this policy condition. We may require you to provide vehicle declarations showing their book value, depreciated cost, written down value or residual value in your business records. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 37 7. Priority of Clauses If there is any conflict or inconsistency between an extension and any other terms of this policy (other than the Policy Exclusions or Conditions), then the terms most favorable to you prevail. Cancellation BY THE INSURED You may cancel this policy at any time. If you do, we will refund any premium that is due based on the unused portion of the period of insurance. BY US We may cancel this policy by giving you notice in writing or by electronic means at your last known address. The policy will be cancelled from 4pm on the 30th day after the date of the notice. We will refund you any premium that is due based on the unused portion of the period of insurance. HOW WE ADMINISTER THIS POLICY Change of Terms We may change the terms of this policy (including the excess) by giving you notice in writing or by electronic means at the last known address we have for you. The policy will be changed from 4pm on the 30th day after the date of the notice. Other Insurance You must tell us as soon as you know about any other insurance which covers an insured vehicle. This policy does not cover loss or liability at all if it is insured to any extent under any other insurance policy. We will not contribute towards any claim under any other insurance policy. Joint Insurance If this policy insures more than one person, then all persons are jointly insured. This means that a breach of this policy by any one person affects everyone’s ability to claim under this policy. We may choose to pay any claim in full to the person who is named first in the schedule, and this will meet all our obligations under this policy for that claim. Interests of Other Parties If we know of anyone who has a financial interest over an insured vehicle, we can pay them part or all of any claim proceeds. This payment goes towards meeting our obligations under the policy. However, anyone recorded as having a financial interest under this policy is not covered by it and has no right to make a claim. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 38 We are also authorised by you to disclose personal information about you to anyone who holds a financial interest in an insured vehicle. Total loss If we pay a claim for an insured vehicle that we determine is a total loss: 1. That insured vehicle will become our property, and 2. That vehicle is no longer an insured vehicle under this policy, and 3. We will not give any refund of premium, and 4. In the event premium for the period of insurance is paid in instalments, any unpaid premium for the balance of the period of insurance is due immediately and may be deducted from any payment made by us. LAWS AND ACTS THAT GOVERN THIS POLICY Governing Law and Jurisdiction The law of New Zealand applies to this policy and the New Zealand Courts have exclusive jurisdiction. Legislation Changes Where this policy refers to any Act of Parliament, it also includes any sub-ordinate legislation made under it, and any subsequent Acts or Regulations. Insurance Law Reform Acts The exclusions and conditions in this policy are subject to your rights under the Insurance Law Reform Acts 1977 and 1985. Currency Any amount shown in this policy or the schedule is in New Zealand dollars. Goods and Services Tax Where GST is recoverable by us under the Goods and Services Tax Act 1985: 1. all vehicle values specified in the vehicle declaration exclude GST, and 2. all limits and sub limits exclude GST, and 3. all excesses include GST, and GST will be added, where applicable, to claim payments. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 39 DEFINTIONS The definitions apply to the plural and any derivatives of the bolded words. For example, the definition of ‘accident’ also applies to the words ‘accidentally’, ‘accidental’ and ‘accidents’. Accessories A fitting or attachment that alters the performance, characteristics of, or is designed for use in, a vehicle to which it is attached but without which the vehicle would still operate, car tools, spare parts, and emergency aids, used exclusively for the insured vehicle (including when temporarily removed from the insured vehicle), for example but not limited to: on board computers, telephone installations, satellite navigation devices, remote controls for attached plant, load securing or protection equipment in, on or in connection with the insured vehicle, ropes, tarpaulins and racking installed in tradesmen’s vehicles, but not any mobile telephone or personal audio equipment unless permanently attached to the vehicle. Accident An event occurring in New Zealand that is unintended, unexpected and unforeseen by you. Act of terrorism Includes any unlawful act, or preparation in respect of action, or threat of action designed to influence or coerce the government de jure or de facto of any nation or any political division therefore, or in pursuit of political, religious, ideological, or in pursuit of political, religious, ideological, or similar purposes to intimidate the public or a section of the public of any nation by any person or group(s) of persons whether acting alone or on behalf of or in connection with any organisation(s) or government(s) de jure or de facto, and that 1. Involves violence against one or more persons, or 2. Involves damage to property, or 3. Endangers life other than that of the person committing the action, or 4. Creates a risk to health or safety of the public or a section of the public, or 5. Is designed to interfere with or disrupt an electronic system. Application The information provided to us by you or on your behalf when you purchased this insurance or requested a quotation for this insurance from us. It also includes any subsequent information you provide us with. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 40 Bodily injury The accidental death of or the accidental bodily injury to any person during the period of insurance, including sickness, disease, disability, shock, fright, mental anguish or mental injury. Driver The person driving or operating any component of the insured vehicle (for example a crane or hoist). Electronic data Facts, concepts and information converted to a form useable for communications, display, distribution, interpretation or processing by electronic and electromechanical data processing or electronically controlled equipment and includes programs, software and other coded instructions for such equipment. Excess The first amount of any claim that you must pay for an event, specified in the schedule or in this policy. Event An event or series of events, arising from one source or original cause. Insured vehicle 1. All vehicles listed in the vehicle declaration provided to us; and 2. Any other vehicle not owned by you that is a. Hired in or rented in (and you do not accept the rental owner’s statutory offer of insurance), or b. Borrowed or loaned (for example a motor mechanic’s or panel beater’s loan vehicle ) Note additional vehicles that you purchase or lease during the period of insurance are covered under the ‘General Policy Extensions Applicable To Sections 1 And 2 Automatic Extensions - Additions and Deletions’. Lease/leased A contract between you and someone else under which you have the right to use a vehicle for a term not less than 12 months in return for payment of money. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 41 Loss Physical loss or physical damage. Market value The reasonable sale price of the same or a comparable vehicle of similar pre-loss age, condition and specification, including the value of any accessories but excluding the value of any sign- writing. Mechanical plant A vehicle, that has either plant or machinery attached to it, or is primarily designed as mobile plant or mobile machinery. Natural disaster Earthquake, tsunami, volcanic activity, hydrothermal activity, geothermal activity, or subterranean fire, or fire following any of these. Period of insurance The period of time stated in the schedule that specifies the start and end dates of this insurance contract. Permitted use Used by you or anyone with your consent: 1. For your business or occupation; or 2. For your private, social or domestic purposes; or 3. For a business or occupation comparable with your business or occupation, when temporarily lent out by you. Reparation An amount ordered by a New Zealand Court to be paid to the victim of an offence under Section 32 of the Sentencing Act 2002. Residual value The residual value of a leased insured vehicle calculated in accordance with the lease agreement relating to that insured vehicle. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 42 Schedule The latest document issued to you which specifies limits and or sub limits and any applicable excesses under individual parts of the policy wording. This document forms part of your policy wording. Subsidiary A company with more than half the nominal value of its equity share capital owned by a parent company, either directly or through other subsidiaries. Total loss Actual total loss, or if we determine the insured vehicle is uneconomic to repair. Vehicle Any type of motor vehicle, machine on wheels, tracks or rollers (but not rails) that is propelled by its own power, and anything designed to be towed by such motor vehicle, or machine, including any accessories and fit out of such a machine. Vehicle declaration The list of insured vehicles stating their values (including the value for any signwriting) provided by you at the inception of this policy, and any subsequent endorsement or renewal. We NZI, a business division of IAG New Zealand Ltd. We may also use the words ‘us’ ‘our’ or ‘company’ to describe NZI. You The person(s) or entity named in the schedule as ‘Insured’ including any: 1. Subsidiary, or 2. Associated management company, or 3. Associated social or sporting club, or 4. New organisation or company formed or acquired by you during the period of insurance; We may also use the word ‘Insured’ to describe you. NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Commercial Motor Vehicle Insurance | 43 NZI – Steadfast Commercial Motor Vehicle Wording (01.2020) © 2019 Steadfast Group Limited Electronic Data Exclusion and Vehicle Parts Exclusion Commercial Motor Vehicle Policy Endorsement Your policy is amended as follows: Notwithstanding anything to the contrary in this policy or any endorsement, the following Electronic Data Exclusion applies to all sections/parts of the policy and the following Vehicle Parts Exclusion applies to section 1 of the policy. Any equivalent, corresponding or comparable electronic data exclusion and vehicle parts exclusion (whether in the policy or in any endorsement) are deleted. Important note: Any equivalent, corresponding or comparable electronic data exclusion and vehicle parts exclusion that apply to your policy may not be called by, or have a heading, with the same name (or may not have any name or heading). For example (and depending on your policy), Electronic Data Exclusion may be named or known as loss of electronic data and the Vehicle Parts Exclusion may be named or known as vehicle parts, vehicle components, breakdown, or mechanical and/or electrical breakdown/failure. Electronic Data Exclusion 1. This policy does not insure loss of data or loss of data value or liability of any type in connection with any loss of data or loss of data value. 2. This policy does not insure any costs or expenses of any type (including defence costs, fines or court costs) arising from any prosecution, claim or liability in connection with any loss of data or loss of data value. This exclusion does not apply to loss of data that results directly from physical loss or physical damage that is covered by Section 1 of the policy. The following definitions apply to this Electronic Data Exclusion: computer system includes any computer operating system, hardware, programme, software, communications system, information repository, microchip, integrated circuit or similar device in computer equipment or non-computer equipment, including any similar system or configuration of the aforementioned, whether the insured’s property or not. electronic data means information, facts, concepts, code or any other information of any kind and whether owned by the insured or not that is recorded or transmitted in a form to be used, accessed, processed, transmitted or stored by any computer system. loss of data includes any actual or alleged: 1. loss of, alteration of, or damage to any electronic data, or 2. cost in correcting or reprogramming any electronic data, or 3. reduction in the functionality, availability or operation of any electronic data, or 4. cost involved in retrieving electronic data. loss of data value means any actual or alleged loss in the value (whether financial or otherwise) of any electronic data. Continued NZ303/1 11/22 / Page 1 of 2 Electronic Data Exclusion and Vehicle Parts Exclusion   Commercial Motor Vehicle Policy Endorsement Vehicle Parts Exclusion 1. This policy does not insure any physical loss of or physical damage to, or any cost or expense, in connection with any of the following parts (including any components of those parts) of any vehicle: (a) engine and all engine parts, (b) cooling systems, including but not limited to radiators, heat exchangers, cooling fans, pressure caps, water pumps, thermostats and hoses, (c) hydraulic systems, including but not limited to shock absorbers and suspension systems, (d) transmission system, including but not limited to gearbox, drive shafts, axles, differentials, clutches, and wheel hubs, (e) fuel systems, (f) braking systems, (g) electrical or electronic systems, computer systems, and mechanical systems, (h) pumping and vacuuming systems, (i) any fixed plant machinery (including but not limited to food or drink preparation equipment), (j) underground exploratory devices. 2. Exclusion (1) does not apply to any resultant sudden and accidental physical loss or physical damage to any other vehicle part not included in 1 (a) – (j). 3. Exclusion (1) does not apply to any physical loss or physical damage that is caused directly by any of the following: (a) fire, (b) the vehicle or a conveying vehicle overturning, (c) the vehicle suffering an impact or collision with an external object, (d) the vehicle being partly or fully immersed in a body of water, (e) the vehicle being stolen or converted, (f) the vehicle being maliciously damaged by non-electronic means, (g) the vehicle being accidentally operated with the incorrect fuel type, including but not limited to diesel in a petrol engine or petrol in a diesel engine. This does not include operating the vehicle with fuel of the correct type which is contaminated, (h) hail, snow, storm or lightning, (i) earthquake, subterranean fire, hydrothermal activity, geothermal activity, volcanic activity, or tsunami, (j) impact or damage by animals. NZ303/1 11/22 / Page 2 of 2 Communicable Disease Exclusion – Commercial Motor Vehicle Policy Endorsement Your policy is amended as follows: Notwithstanding any provision to the contrary in this policy or any other endorsement, this policy does not insure any: 1. contamination costs directly or indirectly arising out of or attributable to the presence or potential presence, or threat or fear of the presence, of any disease: (a) stated to be a quarantinable disease under the Health Act 1956, or (b) in respect of which a state of emergency has been declared under the Civil Defence Emergency Management Act 2002, or (c) in respect of which a pandemic or epidemic has been declared by the World Health Organisation or the New Zealand government or any New Zealand government agency or lawful authority, or (d) declared by the World Health Organisation to be a Public Health Emergency of International Concern (PHEIC). 2. liability directly or indirectly arising from any actual or alleged injury resulting from the transmission of any communicable disease. References in this exclusion to legislation and legislative and official terms include any amended, replacement, re-enacted, successor, equivalent, substituted, corresponding, or similar legislation (including any secondary legislation made under such legislation) and legislative and official terms. For the purpose of this exclusion only, the following definitions apply: contamination costs means all costs to clean, neutralise, disinfect, treat, decontaminate, restore, rectify, destroy, remove, dispose of, repair, replace or reinstate any property, and any loss of value or loss of use of any property; and includes any liability for or arising from such costs or loss of value or loss of use of property. injury includes bodily injury, sickness, disease, disability, impairment, incapacity, mental anguish, emotional distress, shock, fright or death of any person. NZ7251/1 11/22 / Page 1 Sanctions Exclusion Policy Endorsement This policy is amended as follows: This Sanctions exclusion applies despite anything to the contrary in the policy or any endorsement. This policy is deemed not to provide any cover, and no payment will be made or benefit provided, to the extent that the provision of such cover, payment, or benefit may breach or risk exposure to any: 1. sanction, prohibition or restriction under United Nations resolutions; or 2. trade or economic sanction, law or regulation of New Zealand, Australia, the United Kingdom, the United States of America or the European Union. Any equivalent clause applying to the policy is superseded by the Sanctions exclusion above. An equivalent clause may exclude, restrict, or deny cover, payments, services and/or benefits due to any sanction, prohibition, penalty, or restriction of any United Nations resolution, or the trade or economic sanctions, laws, or regulations of any country, and/or the European Union. Page 1 of 1 / NZ7428/1 07/23 NZI, a business division of IAG New Zealand Limited. --- ## QBE Insurance NZ — QBE Steadfast Commercial Motor Vehicle > _Markdown transcription of QBE Insurance NZ QBE Steadfast Commercial Motor Vehicle policy wording, effective 2019-01-01. Source: https://baileysinsurance.co.nz/wp-content/uploads/2025/07/QBE-Steadfast-Commercial-Motor-Vehicle-Wording-QBE-STFTQMV0119.pdf_ --- TABLE OF CONTENTS INTRODUCTION 3 INSURANCE AGREEMENT 4 POLICY COVER OPTIONS 4 WHEN COVER APPLIES 5 SECTION 1: COVER FOR THE INSURED VEHICLE 5 SECTION 1: AUTOMATIC POLICY EXTENSIONS 5 SECTION 1: OPTIONAL POLICY EXTENSIONS 12 SECTION 1: EXCLUSIONS 14 SECTION 1: BASIS OF SETTLEMENT 15 SECTION 2: LIABILITY TO THIRD PARTIES 16 SECTION 2: AUTOMATIC POLICY EXTENSIONS 17 SECTION 2: EXCLUSIONS 20 SECTION 2: BASIS OF SETTLEMENT 22 GENERAL POLICY EXTENSIONS APPLICABLE TO SECTIONS 1 AND 2 AUTOMATIC EXTENSIONS 22 OPTIONAL POLICY EXTENSIONS 24 GENERAL POLICY EXCLUSIONS 26 HOW TO CLAIM 28 GENERAL CONDITIONS 30 DEFINITIONS 33 2 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 INTRODUCTION WELCOME Welcome to QBE. Thank you for selecting us as your insurer. ABOUT THIS POLICY Your Commercial Motor Vehicle Policy consists of: 1. this policy document, and 2. the schedule, and 3. any endorsements or warranties that we apply, and 4. the information you have provided in the application for insurance to us. ABOUT STEADFAST Steadfast NZ Ltd (Steadfast) is part of Steadfast Group Ltd, an Australian Stock Exchange listed company. It includes a network of insurance brokerages who operate in New Zealand as Steadfast Brokers. This policy is available exclusively to you through a Steadfast broker. Steadfast does not issue, guarantee or underwrite this policy. YOUR DUTY OF DISCLOSURE When you apply for insurance, you have a legal duty of disclosure. This means you or anyone acting on your behalf must tell us everything you know (or could be reasonably expected to know) that a prudent insurer would want to take into account in deciding: 1. to accept or decline your insurance, and/or 2. the cost or terms of the insurance, including the excess. You also have this duty every time your insurance renews and when you make any changes to it. Information you will need to disclose includes: » circumstances which could increase the risk of an insurance claim; » any criminal offences or convictions; » any cancellation, refusal to renew insurance or imposing of special terms by another insurer; » insurance claims you have made in the past. Information you do NOT need to disclose includes: » circumstances which would diminish the risk of an insurance claim; » anything that we know or would be expected to know in the ordinary course of our business; » anything that we advise you do not need to disclose. Examples of relevant facts for Motor Vehicle insurance may include: a. any previous traffic violations including speeding, reckless driving, drink-driving or drug driving. b. any non-factory modifications (whether structural, performance or cosmetic) to an insured motor vehicle. c. any change of use of an insured motor vehicle (for example a private car now used for business use) d. any previous accidents, or history of your losses, whether you were insured at the time or not. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 3 If you or anyone acting on your behalf breaches this duty, we may treat this policy as being of no effect and to have never existed. EXAMPLES We have used examples and comments to make parts of this policy document easier to understand. These examples and comments are printed in italics and do not affect or limit the meaning of the section they refer to. HEADINGS The headings in this policy document are for reference only and do not form part of it. They must not be used when interpreting the policy document. DEFINED WORDS If a word is shown in bold, it has a specific meaning. There is a list of these words and what they mean in this policy in the section ‘DEFINITIONS’. INSURANCE AGREEMENT OUR AGREEMENT You agree to pay us the premium and comply with this policy. In exchange, we agree to insure you as set out in this policy. POLICY COVER OPTIONS Your vehicles will be insured under one of the following Cover Options. The option that applies will be shown on the schedule. Comprehensive Cover Provides: 1. Full cover under Section 1 – Cover for the Insured Vehicle, and 2. Full cover under Section 2 – Liability to third parties Third Party, Fire and Theft Provides: 1. Limited cover under Section 1 – Cover for the Insured Vehicle only covering accidental loss to the insured vehicle caused by: fire, lightning, explosion, theft (including attempted theft), and 2. Loss covered in Section 1 – Automatic Extensions- Uninsured Third Party Protection, and 3. Full cover under Section 2 – Liability to third parties. Third Party Only Provides: 1. Loss covered in Section 1 – Automatic Extensions- Uninsured Third Party Protection, and 2. Full cover under Section 2 – Liability to third parties. 4 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 WHEN COVER APPLIES There is only cover under this policy when any vehicle insured under this policy is being used by any driver with your consent: 1. for your business or occupation as advised to us prior to inception of this policy or any renewal, or 2. for your private, social or domestic purposes. SECTION 1: COVER FOR THE INSURED VEHICLE Cover We will insure you for accidental loss to an insured vehicle occurring anywhere in New Zealand, including transit between islands of New Zealand, during the period of insurance. SECTION 1: AUTOMATIC POLICY EXTENSIONS In addition to the cover under ’Section 1: Cover for the Insured Vehicle’, we also provide the following Automatic Policy Extensions. These extensions apply automatically where you have: 1. Comprehensive cover option shown in the schedule; or 2. Third Party Fire and Theft cover option shown in the schedule and there is a claim under Section 1 of this policy for fire or theft of the insured vehicle; and 3. There is a valid claim under ’Section 1: Cover for the Insured Vehicle’, unless specified otherwise. These extensions are otherwise subject to the terms and exclusions of the policy. Except as otherwise stated, where a limit is specified in the extension, this is in addition to the maximum liability under ‘Section 1: Basis of Settlement’. Otherwise, any payment under an extension is subject to the maximum amount payable under ‘Section 1: Basis of settlement’. Accessories and spare parts away from the vehicle You are insured for any insured vehicle accessories, ancillary equipment including buckets, hose, drill bits, and spare parts while not fitted to the insured vehicle and stored at: a. your office or depot, b. your home, or c. any secured worksite. The most we will pay under this extension is $5,000 for any one event unless a different amount is specified in the schedule. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. Appreciation - Mechanical Plant Section 1 is extended to cover you for appreciation of the market value of the mechanical plant specified in the vehicle declaration as a result of loss covered under Section 1, subject to the following: a. The specified market value of the mechanical plant was accurate at the time of inception or renewal of this policy, and b. The appreciation shall be of no greater than 25% of the value specified in the vehicle declaration. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 5 Car pooling agreement Payment made by passengers as part of a car pooling agreement does not constitute the conveyance of passengers for hire or reward. A car pooling agreement is where you share a vehicle journey to a common destination with another passenger to reduce both person’s travel costs. Claim preparation costs We shall be liable for costs and expenses as may be reasonably incurred by you for the preparation, presentation, negotiation, certification and/or justification of claims made under this policy (but not costs incurred in disputing a claim). Salaries, wages and overheads of your employees and consultants shall be deemed to be part of such costs and expenses. There shall be no liability under this clause for such costs and expenses for any one claim unless it exceeds $100 in total nor shall there be any liability if any claim is not admissible under this policy. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. Completion of journey costs and Emergency Accommodation When, as a result of a loss covered under Section 1, your journey cannot be continued, this policy covers your reasonable costs not covered by any other insurance, warranty program, driver or vehicle assist program incurred in: a. hiring another vehicle of similar make and model to complete the journey, or to return you or your driver to where the journey first commenced; and b. returning the insured vehicle to the premises where it is normally based following its repair, or the cost of recovering it in the event of theft; and c. Emergency accommodation The most we will pay under this extension is $10,000 for any one event, unless a different amount is shown in the schedule. Condemned buildings and carparks If as a result of a natural disaster, you are unable to recover the insured vehicle from a building or carpark due solely to the denial of access to that building or carpark we will pay for the reasonable costs of hiring a similar replacement vehicle subject to: a. a maximum cost of $200 per vehicle per day, and b. $15,000 in total; for any one event. There is no cover for this extension for the first 7 days for any one event. Death by Accident If the driver or non-fare paying passengers of the insured vehicle dies as a result of an accident covered by this policy, whether or not death occurs at the time of the accident, we will pay $10,000 to you, regardless of any other insurance. 6 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 Disability Modifications If you or one of your employees operating an insured vehicle (including riding as a passenger) are injured as a direct result of an accident covered under Section 1, and this results in permanent disability which necessitates vehicle modifications (e.g. hand controls), Section 1 covers the reasonable cost of these modifications to any one vehicle. However, we are only liable for the amount in excess of any amount payable by the Accident Compensation Corporation, or any other insurer and the most we will pay under this extension is $10,000 for any one event, unless a different amount is shown in the schedule. Employees’ Vehicles Section 1 is extended to cover vehicles (including vehicle accessories and spare parts normally carried on or used in connection with any such vehicles) owned by your employees that are used in the course of your business, provided: a. your employee has personal vehicle insurance for the vehicle but that policy does not respond because of this business use; b. the vehicle is not ordinarily and normally used in the course of your business, and is used in the course of your business for no more than 10 days during the 12 months prior to the loss. Expediting Expenses This policy is extended to cover you for the reasonable costs of express freight including airfreight and overtime to expedite repairs to the insured vehicle as a result of loss covered under Section 1 of this policy. First Aid Kits In the event of an accident covered under Section 1 of this policy, we will pay to replace or restock any first aid kits or equipment in the vehicle damaged or used as a result of that accident. Fitout removal and reinstallation If the insured vehicle has undergone customised fitout which is included in the sum insured (for the purpose of conducting your business, such as custom interiors, shelving and cabinetry, permanently affixed plant and equipment) and following accidental loss, is a total loss, should you wish to retain the fitout we will pay for the removal and reinstallation of the fitout from the vehicle. The value of any fitout removed will be deducted from the final settlement of the vehicle. The most we will pay under this extension is $10,000 for any one event unless a different amount is specified in the schedule. Funeral Expenses If a driver and/or passenger/s dies as the direct result of an accident covered by this policy, whether or not death occurs at the time of the loss, this policy covers all funeral expenses associated with the burial or cremation of the deceased, in addition to any amount payable by the Accident Compensation Corporation or any other insurer. This policy also covers any travel costs within New Zealand of the deceased’s immediate family (e.g. parents, spouse or partner, children, or siblings) necessarily incurred as a result of attending the funeral. The most we will pay under this extension is $10,000 for any one event, unless a different amount is shown in the schedule. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 7 Goods in Transit If an insured vehicle suffers loss caused by an event covered under Section 1, this extension covers loss directly caused by the same event to goods owned by you carried on or in the insured vehicle at the time of the loss for the specific purpose of a single relocation (such as a delivery to customer’s premises or to a warehouse). The most we will pay under this extension is $10,000 for any one event, unless a different amount is shown in the schedule. Hoists, hydraulic lifts and rams Section 1 covers mechanical breakdown or mechanical failure of any hoists or hydraulic rams permanently attached to the insured vehicle, where such failure or breakdown is not due to wear and tear or lack of regular maintenance. Section 1: Exclusions - Vehicle Parts, does not apply to this extension. The most we will pay under this extension is $10,000 for any one event unless a different amount is shown in the schedule. An excess of $500 applies for any claim under this extension. Ingestion or Entanglement of Foreign Objects We will cover you for accidental loss resulting from entry, entanglement or ingestion of any foreign object into any mulching, chipping or agricultural implement or machine, provided this occurs whilst the insured vehicle is being operated for the purpose for which it was designed. The most we will pay under this extension is $50,000 for any one event unless a different amount is shown in the schedule. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. Keys and Locks Where any keys giving access to the insured vehicle are lost, stolen or believed on reasonable grounds to have been duplicated without your permission during the period of insurance, we will cover the costs reasonably incurred in digital recoding, replacing the keys and altering or replacing the locking mechanism. The most we will pay under this extension is $5,000 for any one claim to one insured vehicle or $20,000 any one event, unless a different amount is shown in the schedule. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. An excess of $250 applies for any one claim under this extension. Lease Value If the insured vehicle is leased and becomes a total loss as a result of an event covered under Section 1 of this policy, we will pay the greater of the reasonable market value or residual value of the insured vehicle. This does not include: a. penalties for early termination, or b. penalties for any additional distance travelled, or unpaid obligations under the lease at the time of the loss, or c. penalties resulting from lack of servicing or poor maintenance, or d. ‘balloon’ payments, or e. the amount by which the residual value of the insured vehicle exceeds 120% of its market value. 8 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 Load Recovery and Debris Removal costs Section 1 of this policy is extended to cover the reasonable costs incurred in salvaging and debris removal of any load carried by an insured vehicle. This includes the reasonable costs of reloading or trans-shipping the load to the nearest place of safe storage and necessary disposal costs. The most we will pay under this extension is $25,000 for any one event, unless a different amount is shown in the schedule. Misfuelling You are insured for accidental loss directly caused by operation of the insured vehicle with the incorrect fuel type (diesel into a petrol vehicle or petrol into a diesel vehicle), if you have taken reasonable care to avoid the loss. The most we will pay under this extension is $10,000 for any one event unless a different amount is specified in the schedule. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. The exclusion “Vehicle Parts” does not apply to this extension. Mutually Acceptable Assessors An assessor mutually agreed upon by us and you will assess any loss under this policy. New Replacement Vehicle If a car, station wagon, utility, van or four-wheel drive vehicle under 3,500kgs suffers a total loss in terms of the basis of settlement under Section 1 of the policy within 12 months of it being first registered as a new vehicle in New Zealand, we will either: a. provide a new replacement vehicle of the same make, model and specification, or b. if a new replacement is not available, pay the price for which such a vehicle was last available. Off Road Tyre/Track Damage Section 1 of this policy is extended to cover loss during the period of insurance to any tyre (including its inner tube) or tracks fitted to an insured vehicle not principally used for driving on public roads, regardless of whether there has been loss to any other part of the insured vehicle or not. We will indemnify you by either: a. Repairing the damage; or b. Paying an amount equal to the reasonable cost of repair; or c. Replacing the tyre or tracks; or d. Paying an amount equal to the cost of the tyre or tracks. The most we will pay under this extension is the purchase price of a new replacement tyre or tracks, less a reasonable deduction for the damaged tyre’s or track’s wear and tear, but in all cases not exceeding $5,000, during any one period of insurance. No excess applies to this extension. Section 1: Exclusions – Tyres, does not apply to this extension. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 9 Personal effects We will extend this insurance to cover accidental loss to the driver and non-fare paying passengers’ personal effects as a direct result of accidental loss to the insured vehicle that is covered under this policy. For the purpose of this extension ‘personal effects’ means any item of clothing (including reading and sunglasses) or any personal item normally carried (such as a handbag, wallet, personal music device or mobile phone) but excluding any laptop or item of luggage. The personal effects are insured for their market value. The most we will pay for under this extension is $3,000 for any one event unless a different amount is specified in the schedule. An excess of $500 applies to this extension. Portable Electronic Equipment When the insured vehicle suffers loss covered by Section 1 of this policy we will cover you for accidental loss to portable electronic equipment. We will pay the reasonable replacement cost of the property up to $1,000 for any one item and $5,000 in total. An excess of $250 applies to any claim under this extension including where the cause of loss is theft. Where the insured vehicle suffers a total loss, the amount payable under this extension is in addition to the basis of settlement of the loss of the insured vehicle itself. Re-installation Costs When an insured vehicle is a total loss as a result of an event covered under Section 1, we will contribute to the de-installation/re-installation costs associated with loss to LPG, CNG units, in-vehicle cameras, meters and the like. The value of any item that is de-installed/re-installed will be deducted from the final settlement of the vehicle. The most we will pay under this extension is $2,500 per event, unless a different amount is shown in the schedule. Reinstatement of Amount of Insurance Where loss is covered under Section 1, the amount by which that cover reduces the sum insured, is automatically reinstated after the repair of the vehicle loss and prior to any additional premium required for such reinstatement. Relief Driver Costs If as the result of an accident involving an insured vehicle primarily used for the purpose of transporting goods for reward or fare-paying passengers following loss covered under Section 1 of this policy, your driver is a. injured and unable to return to work; or b. temporarily stood down for counselling purposes (such as for counselling following a fatal accident), you are covered for the reasonable and necessarily incurred costs of employing a relief driver to continue your business. The most we will pay under this extension: 1. for any single day is $250, and 2. in total for any one event is $5,000, unless a different amount is specified in the schedule. 10 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 Repair Authorisation You may authorise any reasonable repairs for accidental loss to an insured vehicle up to a maximum of $1500 without prior notice to us. If the estimated repair costs exceed this amount, repairs must not be commenced without our consent or our assessor’s consent. We or our assessor must be given the opportunity of examining the loss to the insured vehicle prior to repair. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. Rewards This extension covers any reward offered with our prior approval, to secure the return of an insured vehicle that has been stolen if the theft is covered under Section 1 of this policy. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. Salvage, Safety and Security This extension covers the reasonable costs incurred in salvaging or recovering the insured vehicle, including the costs of ensuring its safety, security and delivery to a place of suitable repair or inspection, as a result of loss covered under section 1 of this policy. We will also cover the reasonable costs of storage of the insured vehicle after a claim for loss has been lodged and which has been accepted by us. Sets (wheel rims) Where accidental loss to an insured vehicle includes damage to a wheel rim that is part of a set and is unable to be repaired or replaced we will: a. replace the set with a set that is equivalent in style, quality, and pre-damage condition, or b. pay you an amount equal to the cost of replacing the set that is equivalent in style, quality, and pre-damage condition. The most we will pay under this extension is $10,000 for any one event. Our liability will be within the maximum liability under ‘Section 1: Basis of Settlement’. Signwriting When the insured vehicle suffers loss covered by Section 1 of this policy, we will pay the reasonable cost of repair or replacement of signwriting, artwork, wraps and or graphics existing at the time of loss, provided that: a. The market value plus the value of the replacement signwriting does not exceed the insured vehicle’s value as provided in the vehicle declaration; and b. The value of the signwriting does not exceed $2,500 per insured vehicle. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 11 Theft Costs If a loss caused by theft of the insured vehicle is covered under Section 1, this extension covers the necessary and reasonable costs incurred by you of hiring another vehicle of a similar make and model provided that: a. you make all reasonable efforts to purchase a replacement vehicle as soon as possible; and b. the period of cover for the extension begins at the date the insured vehicle is stolen and ends when we have settled the claim in full or the insured vehicle is recovered and is not a total loss, and; c. the cost of the first 7 days of hire is not covered; and d. This extension does not cover costs charged by the hire company for insurance, petrol or normal running costs. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. Uninsured Third Party Protection You are covered for any uninsured accidental losses (including any excess) caused by an identifiable and uninsured driver of another vehicle occurring in New Zealand during the period of insurance, provided that: a. full liability is admitted by that third party, or you have provided us with evidence establishing full liability of that third party; b. And that you did not cause or contribute to the loss; and c. you supply us with enough information to identify the third party (such as the correct registration, their name and address). The most we will pay under this extension for any one insured vehicle for any one event is $5,000. Unspecified Trailers You are covered for any unspecified trailer you own, hire or borrow for accidental loss or damage, or stolen, not otherwise insured. We will pay at our option either: a. The market value b. The cost to repair the trailer The most we will pay for under this extension is $2,000 for any one event unless a different amount is specified in the schedule. Windscreens and Window Glass Unless otherwise noted in the schedule, you are insured for accidental loss to windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass (including scratching or damage to bodywork resulting solely from broken glass). Where there was tinting or signwriting affixed to any of the above, we will also pay to have the tinting or signwriting reinstated on that part that suffered the loss, however we will not pay for any costs associated with joining or associated tinting or signwriting on other parts of the insured vehicle under this extension. No excess applies to this extension, unless otherwise shown in the schedule. 12 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 SECTION 1: OPTIONAL POLICY EXTENSIONS These optional extensions only apply where specified in the schedule. They are subject to the terms and exclusions of the policy. Agreed Value In the event of a total loss covered under Section 1, we will pay the amount specified in the schedule. Loss of Use If loss to an insured vehicle covered under Section 1 prevents you from using it, this extension covers the reasonable cost of you hiring a substitute vehicle of a similar make, model and specification that is capable of carrying out the activities of the insured vehicle during the Period of Cover (as defined below) subject to the following: a. It only applies to the insured vehicle(s) stated in the schedule as being subject to this extension; b. The extension does not apply if you have available a free substitute vehicle or once you purchase an additional vehicle; c. The repair of the insured vehicle must be carried out as soon as reasonably practicable; d. This extension does not cover costs charged by the hire company for insurance, petrol or normal running costs; and e. This extension does not apply if you have made a claim under Section 1: Automatic Policy Extensions - Theft Costs. If no vehicle of a similar make, model and specification is available for hire (you having consulted with us as to availability of such a vehicle), subject to the application of all other terms of this extension, we will pay to you the daily rate shown in the schedule for the Period of Cover subject to the following terms. The most we will pay under this extension for any one insured vehicle is the limit stated in the schedule. The maximum Period of Cover for any one insured vehicle is 90 days. An excess equal to the cost of the first 7 days hire applies to all claims under this extension. In this extension, ‘Period of Cover’ means the period: a. Beginning: i. When the insured vehicle is delivered to a repairer agreed to by us to start the repair; or ii. The date of the loss, if the insured vehicle cannot be driven, or is deemed a total loss at that date; and b. Ending: i. in the case of repair, when the repairs are completed and the insured vehicle is available to be collected or delivered, or ii. in the case of a total loss, when we have settled your claim under Section 1 in full, or iii. when you have returned the substitute hire vehicle, whichever occurs first. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 13 SECTION 1: EXCLUSIONS The following exclusions apply only to Section 1. The General Policy Exclusions also apply to Section 1 of this policy. Consequential Loss This policy does not insure: a. loss of use of any kind whatsoever, or costs or expenses that result from that loss of use, unless expressly insured under Section 1, or the Automatic or Optional Extensions applicable to Section 1; or b. depreciation or reduction in value. Drilling Equipment This policy does not insure loss to any drill shaft or bit of any type of drilling rig or machinery whilst being used for the purpose of drilling below ground or surface level. Faulty Design This policy does not insure loss caused by or in connection with the insured vehicle’s faulty or defective design, specification or materials. However, this exclusion is limited to the part immediately affected and does not apply to any resultant loss to any other part of the insured vehicle. Tyres This policy does not insure damage to or destruction of tyres. However, this exclusion will not apply if the damage or destruction results from separate loss that is covered by this policy. Vehicle Parts 1. This policy does not insure loss to the following parts of an insured vehicle: a. engine and all engine parts, b. cooling systems, including but not limited to radiators, heat exchangers, cooling fans, pressure caps, water pumps, thermostats and hoses, c. hydraulic system, including but not limited to shock absorbers and suspension systems, d. transmission system, including but not limited to gearbox, drive shafts, axles, differentials, clutches, and wheel hubs, e. fuel systems, f. braking systems, g. electrical/electronic systems, computer systems, and mechanical systems, h. pumping and vacuuming systems, i. any fixed plant machinery (including but not limited to food /drink preparation equipment), j. underground exploratory devices. 2. However, this exclusion does not apply to loss that is the direct result of: a. fire, b. the insured vehicle or a conveying vehicle overturning, c. the insured vehicle suffering an impact or collision with an external object, d. the insured vehicle being partly or fully immersed in a body of water, e. the insured vehicle being stolen or converted, 14 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 f. the insured vehicle being maliciously damaged, g. hail, snow, storm or lightning, h. natural disaster, i. impact or damage by animals. Wear and Tear This policy does not insure loss caused by or in connection with: 1. wear and tear; or 2. rust or corrosion; or 3. action of light and fading. SECTION 1: BASIS OF SETTLEMENT Basis of Settlement 1. We will, at our option, settle your claim for loss in one of the following ways: a. pay the reasonable cost of repairs carried out to the insured vehicle; or b. pay the cash equivalent of the reasonable cost of repairs to the insured vehicle; or c. replace the insured vehicle; or d. pay the market value of the insured vehicle or the value stated in the vehicle declaration, whichever is the lesser; or e. if any insured vehicle is subject to the Agreed Value option shown in the schedule then in the event of a total loss, we will pay the Agreed Value sum shown in the schedule, or f. if the insured vehicle is hired, rented, or borrowed or loaned we will pay the market value of that vehicle to a maximum of $250,000. g. indemnify you in accordance with the terms of the Automatic Extension - New Replacement Vehicle. 2. We are not liable for that portion of any repair or replacement that improves the condition of the insured vehicle beyond its condition before the loss. 3. If any part or component of the insured vehicle is no longer manufactured, we are not liable for more than the supplier’s or manufacturer’s list price. Where no such list price applies, the most we will pay will be the lesser of: a. the price of the part’s closest New Zealand equivalent; or b. the last known list price in New Zealand; or c. the cost of making a new part. 4. The excess shown in the schedule and any excess payable under any extension in Section 1: Automatic Policy Extensions or Section 1: Optional Policy Extensions will be deducted from the amount of the loss for each event. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 15 Where the cause of loss is theft or fire (fire not resulting from impact) to the insured vehicle, no excess will apply to the Section 1 claim unless stated in the schedule or payable under any Section 1: Automatic Policy Extension or Section 1: Optional Policy Extension. If more than one insured vehicle suffers loss from a single event, only one excess shown in the schedule will apply, being the highest excess, together with any excess payable under any extension in Section 1: Automatic Policy Extensions or Section 1: Optional Policy Extensions. SECTION 2: LIABILITY TO THIRD PARTIES Cover We will insure you against your liability to pay damages for: 1. accidental bodily injury to any person; or 2. accidental loss to any property, occurring in New Zealand during the period of insurance and arising from the use of an insured vehicle (including whilst being loaded or unloaded). Provided all criteria above are met, this cover extends to your liability: 1. in connection with the lawful movement by you of any vehicle which: a. is parked in a position which prevents or impedes the loading or unloading of the insured vehicle; or b. prevents or impedes the legitimate passage of the insured vehicle. Section 2: Exclusion - Property in Care, Custody or Control will not apply to the vehicle being moved; and 2. in connection with the insured vehicle being used in accordance with the permitted use, for the purpose of towing any one trailer or caravan, or any one incapacitated vehicle, while attached to the insured vehicle. However, the towing must not be for hire or reward. We will insure you for your legal defense costs and expenses reasonably and necessarily incurred, provided that they are incurred: a. with our consent, b. to defend any civil proceeding (or threat of a civil proceeding) brought against you. We will meet these costs even if the civil proceeding seems groundless. The most we will pay for legal defense costs and expenses is $1,000,000 for any event. We will not pay for legal defense costs and expenses in connection with any criminal proceeding, whether actual or threatened, including where a victim is seeking reparation. The legal defense costs and expenses cover is additional to the Section 2: Basis of Settlement liability limit. 16 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 SECTION 2: AUTOMATIC POLICY EXTENSIONS In addition to the cover under ‘Section 2: Liability to third parties’, we also provide the following Automatic Policy Extensions. All amounts in the Extensions are subject to and not additional to the limits of our liability shown on the schedule for Section 2 in respect of any one claim or claims arising directly or indirectly from any one loss. They are subject to the terms and exclusions of the policy. Airside Liability Section 2 is extended to cover your liability arising out of the ownership, operation or maintenance of any vehicles within the restricted area of any airport used for scheduled commercial flights. The most we will pay under this automatic extension for any event is $2,000,000, unless a different amount is shown in the schedule. Section 2: Exclusions – Airside Liability’ does not apply to claims under this extension. Cleaning up Costs Section 2 is extended to cover all costs lawfully charged by any government body or authority or any other entity for cleaning or restoring the site of an accident following loss, which is covered under Section 1 of this policy. The most we will pay under this extension is $50,000 for any one event, unless a different amount is shown in the schedule. A minimum excess of $500 for each event applies to claims under this extension. Criminal Court Action/Inquiries/Inquests Section 2 is extended to cover legal costs and expenses necessarily and reasonably incurred to: a. defend a charge of manslaughter, or dangerous driving causing death or careless driving causing death, and b. for legal representation at any inquiry or coroner’s inquest in connection with the death; resulting from any person covered under Section 2 of this policy using a vehicle insured under this policy. The most we will pay under this automatic extension for any event is $10,000. Section 2: Exclusions – Criminal Offences does not apply to claims under this extension. Driver’s Indemnity Section 2 is extended to cover the legal liability and legal costs and expenses of any other person caused by or through or in connection with their use of an insured vehicle or a vehicle covered under Section 1: Automatic Extensions – Employee’s Vehicles’, in the same manner as we cover you, provided: a. such use has your permission, and b. their liability is not covered by any other insurance, and c. the person using the insured vehicle meets all the same terms of this policy that you must meet. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 17 Exemplary Damages Section 2 is extended to indemnify you and any driver who is in charge of the insured vehicle with your consent against liability for punitive or exemplary damages for: a. accidental bodily injury, or b. accidental loss to any property arising from an accident in connection with the insured vehicle (including whilst being loaded or unloaded) which occurs in New Zealand during the period of insurance. The most we will pay under this extension is $500,000 for any one claim, or series of claims arising from one accident, and $1,000,000 in the aggregate for all claims during the period of insurance, unless different amounts are shown in the schedule. In addition to any other policy excess, each claim under this extension will be subject to an excess of 10% of any sum for which you or the driver is found legally liable. However, a minimum excess of $5,000 applies to each claim. There is no indemnity under this extension: i. arising from any dishonest, fraudulent or malicious act or omission by you or anyone acting on your behalf; or ii. arising from any claim first notified to you but not notified to us within six months of that date. Section 2: Exclusions – Exemplary Damages does not apply to claims under this extension. Financial Charge Section 2 covers the balance of any outstanding charge on an insured vehicle where: a. the insured vehicle is purchased during the period of insurance; and b. the insured vehicle suffers loss which is covered under Section 1 of the policy; and c. you have made proper enquires in relation to the existence of any charge before making the purchase; and d. you are liable to pay the outstanding charge. The most we will pay under this extension is $5,000 for any one insured vehicle, unless a different amount is shown in the schedule. Hazardous Substance Emergency Section 2 extends to cover all costs lawfully charged by any government body or authority or any other entity , for their attendance at a hazardous substance emergency arising from the use of an insured vehicle. The indemnity will be payable regardless of whether the insured vehicle has sustained loss. The most we will pay under this extension for any event is $50,000. Hired In Vehicle – Consequential Loss If you hire or rent a vehicle during the period of insurance and reject the owner’s statutory offer of insurance, this extension covers your liability to the owner of that vehicle for consequential losses caused by loss covered under Section 1. The most we will pay under this extension for any one event $25,000 unless a different amount is shown on the schedule. This cover is conditional on the rental vehicle being a similar substitute vehicle as set out in the definition of insured vehicle. This extension prevails over ‘Section 2: Exclusions, Property in Care, Custody or Control’. 18 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 Marine Liability If an insured vehicle is transported by sea or air between places in New Zealand during the period of insurance, Section 2 covers your liability for any resulting General Average and salvage charges recoverable from it at law. This applies regardless of whether or not the insured vehicle suffers loss. General Average means the general average and salvage charges incurred to avoid a loss covered under this policy that are determined by the contract of carriage, and/or governing law and practice of carriage. Passenger Liability Section 2 is extended to cover the legal liability of any person in connection with their being a passenger in or getting into or out of any insured vehicle. Provided that the person’s liability is not covered under any other insurance or under any other clause in this policy. Principal’s Indemnity Section 2 is extended to indemnify the principal of any construction or works project for their vicarious liability: a. where the liability arises in connection with the use by you of an insured vehicle on that project, and b. the liability is for accidental loss to property or accidental bodily injury occurring in New Zealand during the period of insurance. Reparations You are insured for any reparation you become legally liable to pay arising from accidental bodily injury or accidental loss to property happening during the period of insurance as a result of an accident caused by or in connection with any insured vehicle, including while it is being loaded or unloaded. Amounts payable under this extension are included in, and not additional to, the limits of our liability shown on the schedule for Section 2: Liability to third parties, in respect of any one claim or claims arising directly or indirectly from any one loss. Our liability for Sentencing Act Reparation claims is limited to the limit of indemnity shown on the schedule or $10,000,000, whichever is the lesser. Cover for defense costs do not apply to a claim under this extension. We will not pay defense costs in relation to an offence or where your liability is to pay reparation. This extension does not cover reparation arising from prosecution of an offence under the Health and Safety in Employment Act 1992 and/or the Health and Safety at Work Act 2015 (or any replacement Act) and any subsequent amendments. Vibration or Weight Damage We will indemnify you and any driver who is in charge of the insured vehicle with your consent against liability for accidental loss to any property (including roads) during the period of insurance caused by: a. vibration caused by the insured vehicle, or b. the weight of the load carried by the insured vehicle, or c. the weight of the insured vehicle, or d. the combined weight of the load and the insured vehicle. The most we will pay under this extension is $500,000 for each claim or series of claims arising from one event, unless a different amount is shown in the schedule. An excess of $2,000 will apply to each event. Section 2: Exclusions - Vibration or Weight does not apply to claims under this extension. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 19 Vicarious liability You are insured for your legal liability under Section 2 of this policy while: a. any vehicle not belonging to you and not provided by you is being used for your business by any person in your employment, or b. any vehicle hired in by you is being used for your business by any hired-in or temporary driver. We will not cover you for: a. loss to that vehicle or to property being transported by it, or contained in it; b. any part of the liability which is also covered under any other existing insurance. SECTION 2: EXCLUSIONS The following exclusions apply only to Section 2. The General Exclusions also apply to Section 2 of this policy. This policy does not insure: Airside Liability Liability arising out of the ownership, operation or maintenance of any vehicle within the restricted area of any airport used for scheduled commercial flights. Note: Please see Section 2: Automatic Extensions, ‘A. – Airside Liability’. Contractual Liability Liability arising out of a contract or agreement unless you would have been liable even without such contract or agreement. Criminal Offences Any legal defense costs, fines or court costs arising from the prosecution of any offence under any Act of Parliament including any Regulations, Rules or By- Laws made under any Act of Parliament. Note: Please see Section 2: Automatic Extensions, ‘Criminal Court Action/Inquiries/Inquests’. Drivers Liability of any driver, including the insured, for or arising from: a. bodily injury to, or b. loss to any property owned by, that driver, who claims under Section 2 of this policy. Exemplary Damages Liability for punitive or exemplary damages. Note: Please see Section 2: Automatic Extensions – Exemplary Damages. Liability Outside New Zealand Liability determined by any court outside New Zealand. 20 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 Operation of Plant or Machinery Liability arising directly or indirectly out of the use of any mechanical plant component while it is being used or operated for the purpose for which it was designed (e.g. the operation of a crane or back hoe); however, this exclusion does not apply to the operation of any vehicle mounted crane whilst being used to load or unload from that vehicle, or of any fork hoist. Property in Care, Custody or Control Liability for loss to any property that belongs to, or is/was in your care, custody or control, other than: a. personal baggage and wearing apparel of any passenger; or b. a building leased or rented by you; or c. a vehicle (which is not insured under Section 1 of the policy or owned by you), which is being towed by an insured vehicle. However, this does not apply to vehicles which are towed or recovered for reward where your business includes a vehicle recovery service. Transporting of a Load Liability in connection with the transporting of a load to, or away from, the insured vehicle. However, this Exclusion does not apply to the actual loading or unloading of the insured vehicle. Vehicles Liability for loss to any vehicle that is insured under this policy. Vibration or Weight Liability for loss to property (including a road) arising from: a. vibration caused by the insured vehicle, or b. the weight of the load carried by the insured vehicle, or c. the weight of the insured vehicle, or d. the combined weight of the load and the insured vehicle. Note: Please see Section 2: Automatic Extensions - Vibration or Weight Damage. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 21 SECTION 2: BASIS OF SETTLEMENT Basis of Settlement 1. The most we will pay for any event under Section 2: a. for legal liability is $10,000,000 unless otherwise stated in the schedule b. for legal defense costs and expenses is $1,000,000 unless otherwise stated in the schedule. 2. If our maximum liability is insufficient to cover both the insured in the schedule and any other party entitled to cover under Section 2, it will apply first to the insured in the schedule. 3. We are not liable for any excess shown in the policy or schedule. 4. The most we will pay under each automatic or optional extension will be the higher of: a. the amount specified in the policy; or b. the amount specified in the schedule. 22 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 GENERAL POLICY EXTENSIONS APPLICABLE TO SECTIONS 1 AND 2 AUTOMATIC EXTENSIONS These extensions automatically apply. They are subject to the terms of the policy. Additions and Deletions 1. Additions Any similar vehicle purchased or leased by you during the period of insurance is an insured vehicle under this policy from the date of purchase or commencement of the lease. The maximum amount we will pay under ‘Section 1: Basis of Settlement’ for each purchased or leased vehicle covered under this extension is $300,000. 2. Deletions If an insured vehicle is sold or the lease ends during the period of insurance, it ceases to be an insured vehicle under this policy from the date of sale or the date the lease ends. 3. Premium adjustment a. If there are 14 or less vehicles noted on the schedule at policy inception you must advise of all acquisitions within 30 days, and an additional premium is paid. b. For 15 or greater vehicles, the premium payable by you under this policy will be adjusted at the end of the period of insurance to reflect insured vehicles added or deleted under this extension during the period of insurance. c. We will apply the additions and deletions premium rate as agreed, to 50% of the difference in value between all additions and deletions, to calculate any additional premium to be paid to us by you, or any refund of premium we are to pay to you for that period of insurance, and you will pay any additional premium, or we will refund such sum. Breach of Condition This policy will not be invalidated by any breach of condition, where the breach occurs prior to the loss and without your knowledge or consent, provided that we are advised immediately after you become aware of the breach and you pay us any additional premium we may require. Counselling If an accident involving an insured vehicle that is covered under section 1 of this policy involves a fatality, we will cover you for the reasonable costs incurred in your driver obtaining professional counselling in excess of any entitlement under Accident Compensation Corporation. The most we will pay under this extension is $5,000 for any one event, unless a different amount is shown in the schedule. No excess applies to this extension. Emergency Public Relations You are insured for the reasonable costs of public relations expenses incurred with our prior written consent, as a result of a claim payable under this policy. The most we will pay under this extension for any one event is $25,000 unless a different amount is shown in the schedule. An excess of $2,500 applies to this extension. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 23 Invalidation This policy covers you for loss or liability that arises when an insured vehicle is being used in the circumstances excluded in: 1. General Exclusions ‘Alcohol, Drugs and Other Intoxicating Substances’, 2. General Exclusions ‘Overloaded Vehicles, 3. General Exclusions ‘Intentional or Reckless Acts’, 4. General Exclusions ‘Unlicensed Drivers’, 5. General Exclusions ‘Unsafe Vehicles’, 6. General Exclusions ‘Work Time Rules’, provided that: a. the driving in those excluded circumstances was without your knowledge or consent; and b. you have not waived any right of recovery against the driver, and, c. you cooperate fully with us and the police in pursuit of compensation from the driver. The liability of the driver or person responsible for the loss or liability is not insured under this extension. For the purposes of this extension only, your knowledge is deemed to include the knowledge of: a. any person employed by you with your delegated authority to control the conduct of the driver; or b. the driver, if the driver is of such senior position within your business that his/her knowledge or consent is by law deemed to be your knowledge or consent. Release of Liability Where you are required by legislation or by contractual agreement to release any of: a. Any fire protection equipment suppliers; b. New Zealand Government trading as Kiwi Rail; c. Any oil company; or d. Any other party to an agreement which has been declared to and accepted by us, from liability arising from loss insured by this policy, the release is allowed without prejudice to this insurance. 24 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 OPTIONAL POLICY EXTENSIONS These extensions are optional and only apply when stated in the schedule. They are subject to the terms and exclusions of the policy. Burning Cost The premium payable under this policy shall be adjusted on claim costs incurred (claim costs paid plus outstanding estimates) during the period of insurance. This will be calculated as follows: a. 30 days after the end of the period of insurance the Total Premium shall be adjusted by dividing the Incurred Claims cost by the multiplier as agreed in the schedule. b. If the premium produced is greater than the Total Premium paid, you shall pay the difference but not exceeding the percentage of the deposit premium as agreed in the schedule. c. If the premium produced is less than the Total Premium paid, we shall refund the difference to a minimum retained premium of the agreed percentage in the schedule of the deposit premium. For the purposes of this extension: Total Premium shall mean deposit premium plus any additional or return premium adjustments processed during the period of insurance. Incurred Claim costs will mean the total amount of claims paid and reasonable estimates of claims yet to be paid, including fees, net of actual and estimated recoveries. Hired In Vehicles If you hire in or rent in a vehicle during the period of insurance and do not accept the rental owner’s statutory offer of insurance, this extension covers: 1. the hired vehicle as an insured vehicle, whether or not it is a similar substitute vehicle as set out in the definition of insured vehicle; 2. covers your liability to the owner of that vehicle for consequential losses caused by loss covered under Section 1. The most we will pay under this extension for any one event $50,000 unless a different amount is shown on the schedule. This extension prevails over ‘Section 2: Exclusions, Property in Care, Custody or Control’. If you hire in or rent in a vehicle during the period of insurance and accept the rental owner’s statutory offer of insurance, this extension covers: 1. liability to third parties as provided under “Section 2; Liability Cover’ and ‘Section 2; Automatic Extensions‘ but only for the difference between the amount payable for liability under the statutory offer of insurance had you accepted the offer of such cover, and the maximum amount payable under “Section 2: Legal Liability Cover’, and 2. the difference between the Section 1 excess under this policy and any deductible that would have been applicable under the rental vehicle owner’s insurance had you accepted the offer of such cover, for any event. For the sake of clarity, this includes non-owned trailers. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 25 Hired Out Vehicle If you hire out or rent out an insured vehicle during the period of insurance, this extension provides cover: 1. for loss to the insured vehicle under Section 1; 2. for the liability of the hirer under Section 2; provided that: a. the hirer does not breach any express or implied term of the agreement to hire or rent the insured vehicle; b. there is no other insurance which covers the loss; and c. use by the hirer is comparable with your business or occupation. This extension prevails over ‘General Exclusions, Vehicle Use (a)’. ‘Automatic Extension, Invalidation’ does not apply to any claim under this extension. Profit Share If, at the end of the period of insurance, you agree to renew the insurance with us, we will adjust the premium paid for that period of insurance as follows: 1. 30 days after the end of the period of insurance the Net Premium will be totalled together with Incurred Claims costs as a result of accidents during the period of insurance, and 2. A loss ratio will be calculated by comparing the Net Premium to the total Incurred Claims costs, and 3. If this loss ratio is more than 60%, no profit share refund is payable. If the loss ratio is 60% or less, the amount of profit share refund will be calculated by using one of the following profit share percentages. Profit Share Percentage a. If the loss ratio is 40% or less = 20% profit share refund b. If the loss ratio is between 41% and 50% = 15% profit share refund c. If the loss ratio is 51% or more but not greater than 60% =10% profit share refund If a profit share is payable, then it will be calculated by multiplying the profit share percentage against the sum of Net Premium less Incurred Claim costs. This adjustment is processed net of commission. For the purposes of this extension: ‘Net Premium’ will mean gross premium and any additional or return premium adjustment, less commission if applicable ‘Incurred Claim costs’ will mean the total amount of claims paid and reasonable estimates of claims yet to be paid for claims arising in the period of insurance, including fees, net of actual and estimated recoveries. 26 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 GENERAL POLICY EXCLUSIONS These exclusions apply to all parts of this policy. Accident Compensation Act This policy does not insure: 1. liability for bodily injury which is covered by the Accident Compensation Act 2001 (‘Act’), and 2. in particular, liability for bodily injury payable as reparation for any amounts which are covered by the Act, or would be covered but for: a. a failure by the victim of offending to correctly notify a claim to the Accident Compensation Corporation within the time required under the Act, b. the victim’s decision, for whatever reason, not to claim any amount he or she would be entitled to claim under the Act, c. a decision by the Accident Compensation Corporation to decline a claim or limit its liability in whole or in part and for any reason whatsoever. Alcohol, Drugs and Other Intoxicating Substances This policy does not insure loss or liability when a vehicle is being driven by any person, including you, who: 1. has a proportion of alcohol in their breath or blood that exceeds the legal limit, or 2. is under the influence of alcohol or any other intoxicating substance or drug, or 3. fails or refuses to supply a breath or blood sample as required by law, or 4. fails or refuses to stop, or remain at the scene, following an accident (as required by law). This exclusion does not apply to any claim for loss arising from theft of an insured vehicle. It will be assumed that for 1. above that at the time of the loss or when liability arose the proportion of alcohol was no less than the proportion of alcohol in any subsequent blood sample or breath test subsequently carried out. Confiscation This policy does not insure loss or liability in connection with confiscation, nationalisation, requisition, destruction of, or damage to property by order of any Government, Public or Local Authority unless the order is given to prevent or control any accidental loss or damage that would otherwise have been covered by this policy. Electronic Data This policy does not insure loss or liability of any type in connection with: 1. loss of, alteration of, or damage to, or 2. reduction in functionality, availability or operation of, a computer system, hardware, programme, software, data, information repository, microchip, integrated circuit or similar device in computer equipment or non-computer equipment, whether the insured’s property or not, that do not in and of themselves constitute an event unless arising out of one or more of the following events: a. fire, lightning, explosion, or b. aircraft or vehicle impact, falling objects, or c. windstorm, hail, tornado, cyclone, hurricane, earthquake, volcano, tsunami, flood, freeze, weight of snow, provided that this exclusion will not apply where such loss occurs as a direct result of physical damage which is otherwise covered by this policy and any such loss will be settled in accordance with the policy conditions and sum insured limits. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 27 Intentional or reckless acts This policy does not insure loss or liability arising from any intentional or reckless act or omission. Nuclear This policy does not insure loss or liability of any type in connection with nuclear weapons material, ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion (including self-sustaining process of nuclear fission) of nuclear fuel. Overloaded vehicles This policy does not insure loss or liability if the vehicle is loaded or operated contrary to the manufacturer’s recommended specifications or loaded or operated contrary to regulations or statute. This exclusion does not apply to any claim for loss arising from theft. Sanctions This policy does not insure any loss or provide any benefit under any section of this policy where a claim payment would breach any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of New Zealand, Australia, the European Union, United Kingdom or United States of America, or any local autonomous sanctions. Seepage, Pollution and Contamination This policy does not insure loss or liability of any type in connection with seepage, pollution or contamination, unless sudden, unintended and unexpected, occurring during the period of insurance. The coverage under this policy is limited to costs and expenses reasonably and necessarily incurred to: 1. remove, store and/or dispose of debris or the decontamination, demolish, dismantle, dewater, shore up, prop, underpin or carry out other temporary repairs consequent upon damage which is covered by the policy and caused by an insured event. 2. demolish and remove any property belonging to the insured which is no longer useful for the purpose it was intended for, provided such demolition and removal is necessary for the purpose of the reinstatement or replacement. 3. clean up and remove pollutants from land confined to insured premises if the discharge, dispersal, seepage, migration, release or escape of the pollutants is caused by an insured event. Terrorism Notwithstanding any provision to the contrary within this insurance or any endorsement thereto it is agreed that this insurance excludes loss, damage, death, injury, illness, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss. This insurance also excludes loss, damage, death, injury, illness, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism Unlawful to Insure This policy does not insure loss or liability of any type in connection with any activity, event or occurrence deemed to be unlawful to insure against. Unlicensed drivers This policy does not insure loss or liability if the insured vehicle is being used or driven by any person who: 1. does not have a licence that is in full force and effect to drive the insured vehicle at the time and place of the loss; or 28 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 2. is not complying with the conditions of their licence. This exclusion will not apply if: i. prior to the loss, the driver had held the appropriate licence, is not disqualified from holding or obtaining the appropriate licence, and actually obtains the appropriate licence without carrying out a further test; or ii. the vehicle is being used for the purpose of teaching a learner to drive, if all requirements of the law are being complied with. Unsafe vehicles This policy does not insure loss or liability if the vehicle is being used in an unsafe condition. This includes any condition: 1. which is contrary to any recommendation by the manufacturer of the vehicle, or 2. as a result of which the vehicle is not fit to deal with any peril likely to be encountered during the course of its operation, when you, or any driver was (or should have been) aware of that condition. This exclusion does not apply to any claim for loss arising from theft of the vehicle. Vehicle use This policy does not insure loss or liability arising from use or driving of any vehicle insured under this policy: a. hired out or leased out to a third party for reward; or b. on a race track, or for pace making, reliability trials, hill climbs or speed tests, or while being used in preparation for any one of these activities. War This policy does not insure loss or liability of any type in connection with controlling, preventing or suppressing any of the following: war, invasion, act of foreign enemy, hostilities or warlike operations (whether war is declared or not), civil war, civil commotion assuming the proportions of or amounting to a popular rising, military rising, mutiny, rebellion, revolution, insurrection, military or usurped power. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 29 HOW TO CLAIM What You Must Do If anything happens that may lead to a claim under this policy, you must: 1. do what you can to take care of the vehicle and to prevent any further loss, expense or liability, and 2. tell us as soon as possible, and 3. notify the police as soon as possible if it is believed any loss was caused by an illegal act of a person other than a person covered by this policy, and 4. allow us to examine the vehicle before any permanent repairs are started, and 5. send to us as soon as possible, anything received from anyone about a claim or possible claim against you, or anyone else entitled to cover under this policy, and 6. give us any information or help that we ask for, and 7. consent to your personal information in connection with the claim being: a. disclosed to us, and b. transferred to Insurance Claims Register Limited, and 8. tell us immediately if you, or anyone else entitled to cover under this policy, are charged with any offence in connection with the use of an insured vehicle which resulted in loss of property or bodily injury to another person. 30 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 What You Must Obtain Our Agreement To Do You, and anyone else entitled to cover under this policy, must obtain our agreement before you: 1. incur any expenses in connection with any claim under this policy, or 2. negotiate, pay, settle, admit or deny any claim or reparation order made against you, or anyone else entitled to cover under this policy, or 3. negotiate, make or agree any offer of amends to a victim of offending by any person covered by this policy, or 4. do anything that may prejudice our rights of recovery. Things You Must Do After We Pay A Claim You, and anyone else entitled to cover under this policy, must: 1. tell us if any lost or stolen property which was part of the claim is found or recovered, and hand it over to us if we request it. 2. tell us if any person is ordered to make reparation to you for any loss or cost which is part of the claim, and reimburse us for that payment as soon as any reparation is received. Actions We May Take 1. SUBROGATION Once we have accepted any part of a claim under this policy, we may assume your, or any other person entitled to cover under this policy’s, legal right of recovery. If we initiate a recovery, we will include any excess, and any other uninsured losses suffered. Where we do this, you (or other person entitled to cover) agree to pay your or their proportional share of the recovery costs, and subsequently the proceeds of the recovery will be shared on the same proportional basis, except that we will reimburse the excess first. You, or any other person entitled to cover, must fully co-operate with any recovery process. If you don’t, we may recover from you the amount paid in relation to the claim. 2. CONDUCT OF DEFENSE We have the sole right to act in your name, or in the name of any other person entitled to cover under this policy, and on your or their behalf to defend, negotiate or settle any liability covered under ‘Section 2: Liability to third parties’ as we see fit (this will be done at our expense). We may elect at any time to pay the maximum amount payable under this policy, or any lesser sum that the liability can be settled for. Once we have paid this (plus any defense costs and expenses covered by this policy and already incurred, but less any applicable excess) our responsibility to you or any other person covered under this policy is met in full. The lawyers we instruct to act on your behalf or on the behalf of any other person entitled to cover, are authorised by you or such other person, to disclose to us any information the lawyers receive in that capacity, including information they receive from you or any other person. 3. WAIVER OF SUBROGATION (GROUP OF RELATED COMPANIES) Where you are a parent or subsidiary in a group of related companies, we waive any right of recovery you may have against any other company in the same group. A ‘group of related companies’ means a group of companies related to one another by virtue of such ownership. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 31 4. RECOVERIES If an insured vehicle or any property we have paid a claim for is later found or recovered, you must tell us immediately and hand it over to us if we request it. We have the right to keep the insured vehicle and any property that we have paid a claim for under this policy, including any proceeds if it is sold. 5. REPARATION If any person is ordered to make reparation to you for loss to an insured vehicle that we have paid a claim for under this policy, then you must tell us. Any payments received must first reimburse our claims payment up to the amount of any reparation received. GENERAL CONDITIONS YOUR OBLIGATIONS 1. BREACH OF ANY CONDITION If: a. you, or b. any other person we insure under this policy, or c. anyone acting on your behalf, breaches any of the conditions of this policy, we may: i. decline the claim either in whole or in part, and/or ii. declare either this policy or all insurance you have with us to be unenforceable. This is at our sole discretion. 2. TRUE STATEMENTS AND ANSWERS The application is the basis of this policy. Complete and correct statements and answers must be given (whether by you or any other person) when you: a. apply for this insurance, and/or b. notify us regarding any change in circumstances, and/or c. make a claim under this policy. 3. REASONABLE CARE You, and anyone using an insured vehicle, must take reasonable care at all times to avoid circumstances that could result in a claim. There is no cover if you are reckless or grossly negligent. 4. COMPLYING WITH THIS POLICY We will not pay any claim unless you, or any person who acts on your behalf, complies with this policy. This also applies to any other person who can claim under the policy. 5. CHANGES IN CIRCUMSTANCES You must tell us immediately if there are any: a. modifications to an insured vehicle, or b. change in the use of an insured vehicle, or c. material changes that might alter the nature of the risk insured or increase the chance of a claim under this policy. 32 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 Information is ‘material’ where we would have made different decisions about either: i. accepting your insurance, or ii. setting the terms of your insurance, if we had known that information. If in any doubt, notify us anyway. The ‘risk insured’ refers to both: i. the actual property or liabilities covered (known as physical hazard), and ii. you or other persons covered by this policy (known as moral hazard). 6. VEHICLE VALUES All values of insured vehicles stated in the vehicle declaration must represent, as nearly as possible, their market value. Values such as book value, depreciated cost, written down value and residual value are not sufficient to comply with this policy condition. We may require you to provide vehicle declarations showing their book value, depreciated cost, written down value or residual value in your business records. 7. PRIORITY OF CLAUSES If there is any conflict or inconsistency between an extension and any other terms of this policy (other than the Policy Exclusions or Conditions), then the terms most favourable to you prevail. 8. PRIORITY LIMITS OF INDEMNITY Should the indemnity provided under this policy be insufficient to indemnify both you and any other person indemnified herein, it shall apply in priority to you as named in the schedule. CANCELLATION BY THE INSURED You may cancel this policy at any time. If you do, we will refund any premium that is due based on the unused portion of the period of insurance. BY US We may cancel this policy by giving you notice in writing or by electronic means at your last known address. The policy will be cancelled from 4pm on the 30th day after the date of the notice. We will refund you any premium that is due based on the unused portion of the period of insurance. HOW WE ADMINISTER THIS POLICY Change of Terms We may change the terms of this policy (including the excess) by giving you notice in writing or by electronic means at the last known address we have for you. The policy will be changed from 4pm on the 30th day after the date of the notice. Other Insurance You must tell us as soon as you know about any other insurance which covers an insured vehicle. This policy does not cover loss or liability at all if it is insured to any extent under any other insurance policy. We will not contribute towards any claim under any other insurance policy. Joint Insurance If this policy insures more than one person, then all persons are jointly insured. This means that a breach of this policy by any one person affects everyone’s ability to claim under this policy. We may choose to pay any claim in full to the person who is named first in the schedule, and this will meet all our obligations under this policy for that claim. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 33 Interests of Other Parties If we know of anyone who has a financial interest over an insured vehicle, we can pay them part or all of any claim proceeds. This payment goes towards meeting our obligations under the policy. However, anyone recorded as having a financial interest under this policy is not covered by it and has no right to make a claim. We are also authorised by you to disclose personal information about you to anyone who holds a financial interest in an insured vehicle. Total loss If we pay a claim for an insured vehicle that we determine is a total loss: 1. that insured vehicle will become our property, and 2. that vehicle is no longer an insured vehicle under this policy, and 3. we will not give any refund of premium, and 4. in the event premium for the period of insurance is paid in instalments, any unpaid premium for the balance of the period of insurance is due immediately and may be deducted from any payment made by us. LAWS AND ACTS THAT GOVERN THIS POLICY Governing Law and Jurisdiction The law of New Zealand applies to this policy and the New Zealand Courts have exclusive jurisdiction. Legislation Changes Where this policy refers to any Act of Parliament, it also includes any sub-ordinate legislation made under it, and any subsequent Acts or Regulations. Insurance Law Reform Acts The exclusions and conditions in this policy are subject to your rights under the Insurance Law Reform Acts 1977 and 1985. Currency Any amount shown in this policy or the schedule is in New Zealand dollars. Goods and Services Tax Where GST is recoverable by us under the Goods and Services Tax Act 1985: 1. all vehicle values specified in the vehicle declaration exclude GST, and 2. all limits and sub limits exclude GST, and 3. all excesses include GST, and GST will be added, where applicable, to claim payments. 34 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 DEFINITIONS The definitions apply to the plural and any derivatives of the bolded words. For example, the definition of ‘accident’ also applies to the words ‘accidentally’, ‘accidental’ and ‘accidents’. accessories A fitting or attachment that alters the performance, characteristics of, or is designed for use in, a vehicle to which it is attached but without which the vehicle would still operate, car tools, spare parts, and emergency aids, used exclusively for the insured vehicle (including when temporarily removed from the insured vehicle), for example but not limited to: on board computers, telephone installations, satellite navigation devices, remote controls for attached plant, load securing or protection equipment in, on or in connection with the insured vehicle, ropes, tarpaulins and racking installed in tradesmen’s vehicles, but not any mobile telephone or personal audio equipment unless permanently attached to the vehicle. accident An event occurring in New Zealand that is unintended, unexpected and unforeseen by you. act of terrorism An act of terrorism means an act, including but not limited to the use of force or violence and/or threat thereof, by any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation (s) or government(s) which from its nature or context is done for, or in connection with, political, religious, ideological, ethnic or similar purposes or reasons, including the intention to influence any government and/or to put the public, or any section of the public, in fear. application The information provided to us by you or on your behalf when you purchased this insurance or requested a quotation for this insurance from us. It also includes any subsequent information you provide us with. bodily injury The accidental death of or the accidental bodily injury to any person during the period of insurance, including sickness, disease, disability, shock, fright, mental anguish or mental injury. driver The person driving or operating any component of the insured vehicle (for example a crane or hoist). electronic data Facts, concepts and information converted to a form useable for communications, display, distribution, interpretation or processing by electronic and electromechanical data processing or electronically controlled equipment and includes programs, software and other coded instructions for such equipment. QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 35 excess The first amount of any claim that you must pay for an event, specified in the schedule or in this policy. event An event or series of events, arising from one source or original cause. insured vehicle 1. All vehicles listed in the vehicle declaration provided to us; and 2. Any other vehicle not owned by you that is a. hired in or rented in (and do not accept the rental owner’s statutory offer of insurance), or b. borrowed or loaned (for example a motor mechanic’s or panel beater’s loan vehicle) as a substitute of similar make, model and specification and capable of carrying out the activities of a vehicle fitting the description in 1. above, during the period of insurance. For the sake of clarity, this includes non-owned trailers. Note additional vehicles that you purchase or lease during the period of insurance are covered under the General Extensions - Additions and Deletions automatic extension. lease/leased A contract between you and someone else under which you have the right to use a vehicle for a term not less than one year in return for payment of money. loss Physical loss or physical damage. market value The reasonable sale price of the same or a comparable vehicle of similar pre-loss age, condition and specification, including the value of any accessories but excluding the value of any sign-writing. mechanical plant A vehicle, that has either plant or machinery attached to it, or is primarily designed as mobile plant or mobile machinery. natural disaster Earthquake, tsunami, volcanic activity, hydrothermal activity, geothermal activity, or subterranean fire, or fire following any of these. period of insurance The period of time stated in the schedule that specifies the start and end dates of this insurance contract. permitted use Used by you or anyone with your consent: 1. for your business or occupation; or 2. for your private, social or domestic purposes; or 3. for a business or occupation comparable with your business or occupation, when temporarily lent out by you. 36 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 reparation An amount ordered by a New Zealand Court to be paid to the victim of an offence under Section 32 of the Sentencing Act 2002. residual value The residual value of a leased insured vehicle calculated in accordance with the lease agreement relating to that insured vehicle. schedule The latest document issued to you which specifies limits and or sub limits and any applicable excesses under individual parts of the policy wording. This document forms part of your policy wording. subsidiary A company with more than half the nominal value of its equity share capital owned by a parent company, either directly or through other subsidiaries. total loss Actual total loss, or if we determine the insured vehicle is uneconomic to repair. vehicle Any type of motor vehicle, machine on wheels, tracks or rollers (but not rails) that is propelled by its own power, and anything designed to be towed by such motor vehicle, or machine, including any accessories and fit out of such a machine. vehicle declaration The list of insured vehicles stating their values (including the value for any signwriting) provided by you at the inception of this policy, and any subsequent endorsement or renewal. we QBE Insurance (Australia) Ltd. We may also use the words ‘us’ ‘our’ or ‘company’ to describe QBE. you The person(s) or entity named in the schedule as ‘Insured’ including any: 1. subsidiary, or 2. Associated management company, or 3. Associated social or sporting club, or 4. New organisation or company formed or acquired by you during the period of insurance; 5. driver with your consent. We may also use the word ‘Insured’ to describe you. Underwritten by QBE Insurance (Australia) Limited ABN 78 003 191 035, Incorporated in Australia As a member of the Insurance Council of NZ, QBE is committed to complying with the Fair Insurance Code. A copy of the Code can be found at www.icnz.org.nz QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 37 38 QBE – Steadfast Commercial Motor Vehicle Wording (012019) STFTQMV0119 --- ## Zurich New Zealand — Zurich NZ Motor Insurance > _Markdown transcription of Zurich New Zealand Zurich NZ Motor Insurance policy wording, effective 2023-11-01. Source: https://edge.sitecorecloud.io/zurichinsur0b40-zwpaustrali7d46-prod0760-b10c/media/project/zurich-headless/shared/content/dam/nz-documents/motor-insurance/motor-insurance-policy.pdf_ --- Zurich Motor Insurance Policy Wording Contents About our Motor Insurance About Zurich .......................................................................................................................................................................................... 2 Duty of Disclosure .............................................................................................................................................................................. 2 Non-disclosure or Misrepresentation ................................................................................................................................... 2 Our Contract .......................................................................................................................................................................................... 2 Insuring Clause .................................................................................................................................................................................... 2 Definitions ................................................................................................................................................................................................ 3 Scope of Cover .................................................................................................................................................................................... 5 Policy Exclusions ................................................................................................................................................................................ 6 General Exclusions ............................................................................................................................................................................ 7 Policy Extensions ................................................................................................................................................................................ 9 Optional Extensions .......................................................................................................................................................................... 16 Policy Conditions ................................................................................................................................................................................ 18 General Policy Conditions............................................................................................................................................................. 19 ZU24282 - V2 11/23 - ITRN-021563-2023 Page 1 of 20 About our Motor Insurance About Zurich The insurer of this product is Zurich Australian Insurance Limited (ZAIL incorporated in Australia), ABN 13 000 296 640, trading as Zurich New Zealand. In this policy wording, Zurich New Zealand may also be expressed as ‘Zurich’, ‘we’, ‘us’ or ‘our’. ZAIL is part of the Zurich Insurance Group, a leading multi-line insurer that serves its customers in global and local markets. Zurich provides a wide range of general insurance and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, mid-sized and large companies, including multinational corporations. Duty of Disclosure Before you enter into a contract of general insurance with us, you have a duty at common law to disclose to us every matter you know, or could reasonably be expected to know, that a prudent insurer would want to take into account in deciding whether to insure you and, if so, on what terms. This applies to all persons to be covered under this contract of insurance. You have the same duty to disclose those matters to us before you renew, extend, vary or reinstate a contract of general insurance. This duty however, does not require disclosure of a matter that: s diminishes the risk to be insured; s is of common knowledge; s we know or in the ordinary course of our business we ought to know; s we indicate to you that we do not want to know. Non-disclosure or Misrepresentation If you make material misrepresentation to us, or if you do not comply with the duty of disclosure we may treat your policy as if it never existed. Our Contract This policy is a contract of insurance between you and Zurich and contains all the details of the cover that we provide. The policy is made up of: s the policy wording. This is common to all customers who buy our Zurich Motor Insurance product. It tells you what is covered, sets out the claims procedure, exclusions and other terms and conditions of cover; s the proposal, which is the information you provide to us when applying for insurance cover; s the most current policy schedule issued by us. The schedule is a separate document unique to you, which shows the insurance details relevant to you. It includes any changes, exclusions, terms and conditions made to suit your individual circumstances and may amend the policy; and s any other written changes otherwise advised by us in writing (such as an endorsement). These written changes vary or modify the above documents. This policy wording is used for any offer of renewal we may make, unless we tell you otherwise. Please keep your policy in a safe place. We reserve the right to change the terms of this policy wording where permitted to do so by law. Insuring Clause At your request and based upon the information provided to Zurich, we will provide the insurance terms referred to in this policy in respect of events happening during the period of insurance stated in the schedule. You in turn have accepted these terms and, in doing so, have accordingly agreed to pay the agreed premium to us. Page 2 of 20 Definitions Accident accident means an unforeseen and unintended happening or event occurring anywhere within New Zealand (or elsewhere when specified in the schedule). Accidental refers to accident as defined above. Act of terrorism act of terrorism means any act, or preparation in respect of action, or threat of action designed to influence the government de jure or de facto of any nation or any political division thereof, or in pursuit of political, religious, ideological or similar purposes to intimidate the public or a section of the public of any nation by any person or group(s) of persons whether acting alone or on behalf of or in connection with any organisation(s) or government(s) de jure or de facto, and which: (a) involves violence against one or more persons; (b) involves damage to property; (c) endangers life other than that of the person committing the action; (d) creates a risk to the health or safety of the public or a section of the public; or (e) is designed to interfere with or to disrupt an electronic system. Advanced Driver Assistance Systems (ADAS) advanced driver assistance systems means the electronic systems fitted to your vehicle that are designed to assist with the safety, control or driving of the vehicle. Battery electric vehicle (BEV) battery electric vehicle means a vehicle that solely uses one or more electric motors for propulsion that are powered by a self-contained battery which requires charging from an external power source. Cost price cost price means all costs incurred by you in obtaining your vehicle and preparing your vehicle for sale. Computer virus computer virus means an executable program or computer code segment that is self-replicating, requires a host program or executable segment in which it can be contained, and which destroys or alters the host, program or other computer code or data, causing undesired program or computer system operation. Cyber Act cyber act means any unauthorised, malicious or criminal acts, regardless of time and place, involving access to, processing, use or operation of any computer systems, computer software program, malicious code, computer virus or process or any other electronic system. Data Processing Media data processing media means any property in the vehicle on which electronic data can be stored but not the electronic data itself. Deductible deductible means the first amount of each and every claim for which you must pay when you make a claim under this policy, unless we state that a deductible does not apply. We will pay for covered amounts above any deductible amounts to be met by you. The amount of the deductible is shown in the schedule. The deductible will apply separately to each vehicle and each claim on that vehicle. Where more than one of your vehicles is involved in the same accident, only the higher deductible will apply. Page 3 of 20 Description of use description of use means while being driven by you, or anyone with your consent: (a) in the course of your business as disclosed to us; or (b) for private, social or domestic purposes; or (c) in the course of your business comparable, as declared to us, and having been temporarily lent out by you. Driven driven means the active driving of, or operation or use of your vehicle. Any reference to the driver will include the user or operator of any component of the vehicle, whether or not it is the driver. Electric Vehicle electric vehicle means a battery electric vehicle (BEV) or a plug-in hybrid electric vehicle (PHEV). Electric vehicle does not include micromobile vehicles (such as e-scooters and e-bikes) or light electric vehicles. Electronic Data electronic data means facts, concepts and information converted to a form usable for communications, interpretation or processing by electronic or electromechanical data processing or electronically controlled equipment and includes programs, software and other coded instructions for the processing and manipulation of data or the direction and manipulation of such equipment. Loss loss means sudden physical loss, damage or destruction to your vehicle caused by an accident. Market Value market value means the price for which you can purchase the same vehicle or a comparable one of similar pre-loss age and condition. Period of Insurance period of insurance means the period of time stated in the most recent schedule to which cover under this policy applies. Plug-in Hybrid Electric Vehicle (PHEV) plug-in hybrid electric vehicle means a vehicle that uses both an internal combustion engine and one or more electric motors for propulsion that are powered by a self-contained battery which requires charging from an external power source. Public relations expenses public relations expenses mean the reasonable fees and related expenses of a public relations firm or consultant, crisis management firm or law firm, which you may engage with our prior written consent to prevent or limit adverse effects or negative publicity in respect of a covered claim or loss. Public road public road means any place the public has access to and uses as an access way or thoroughfare, including roads, bridges, culverts, beaches, riverbeds, reserve lands, ferries, wharfs, tracks or any other passage way. Schedule schedule means the most current policy schedule and endorsements issued to you, and includes any subsequent policy schedules and endorsements which may be issued if this insurance is renewed. Page 4 of 20 Tool of trade tool of trade means the use or operation of a vehicle and/or any attachment, equipment, tool or apparatus which forms part of the vehicle, but only whilst engaged in and undertaking its designed purpose of digging, scraping, shovelling, grading, boring, drilling, compacting, harvesting, ploughing, shredding, lifting, clearing, levelling, hosing, vacuuming or suction activities, pumping, spraying or similar activities. Total loss total loss means where the vehicle is so damaged that the cost of repairs, plus the salvage value, exceeds the market value or the sum insured value of the vehicle (as specified in the schedule), taking into account relevant legislative requirements to this determination. Total loss includes a constructive total loss. Vehicle vehicle means any type of machine on wheels, tracks or rollers that is mechanically propelled by its own power and anything designed to be towed by such a machine. A vehicle includes an electric vehicle. Vehicle Accessories vehicle accessories mean such things as spare parts, on-board computers, telephone installations, load securing or protection equipment in or on your vehicle, but excluding any item of electrical or communication equipment not permanently affixed to the vehicle and wired into to the vehicle’s electrical system. Accessories refers to vehicle accessories as defined above. You, Your, Insured you, your, insured means the Insured named in the schedule, including any: (a) committee or boards established by you; (b) subsidiary company or subsidiary thereof; (c) associated managed company; (d) social and/or sporting club; (e) employee and/or elected member and/or official; (f) new entity formed or acquired by you through consolidation, merger, purchase or assumption of control or management during the period of insurance. Where there is more than one party named in the schedule this policy insures those parties jointly. Your Vehicle your vehicle means all vehicles and, where specified in the schedule, also includes vehicular equipment of every description, including mobile pIant and mobile equipment owned or used, which includes being leased, lent, borrowed, hired or under your care, custody and control for which you are responsible for, including their accessories. Scope of Cover Your Vehicle – Section 1 This Section covers loss by indemnifying you for the lesser of: (a) paying for the cost of repair; (b) paying the amount equal to the reasonable cost of repair; (c) paying any amount equal to its market value at the time of loss; (d) replacing your vehicle; or (e) where your business is specified in the schedule as a motor vehicle dealer, cost price at the time of loss in respect of stock vehicles Our liability shall not exceed the market value for your vehicle. Page 5 of 20 However, where you have not complied with General Policy Condition 8. ‘Sums Insured’, our liability shall be either the market value or the Sum Insured, as shown in the schedule, whichever is the lesser. We shall not be liable for that portion of any repair or replacement, which improves the condition of your vehicle beyond its condition before the loss. Also, if any part or component of your vehicle is no longer manufactured, we shall not be liable for more than the supplier’s or manufacturer’s last list price. Your Legal Liability – Section 2 This Section covers your liability at law to indemnify third parties for their loss or injury in the event of accident, caused by, or in connection with your vehicle, including any person in or on, or getting in or on, or getting out of or off, your vehicle and while it is being loaded or unloaded. Our total liability shall not exceed the limit specified in the schedule in respect of any one claim or claims arising from any one accident. In addition to the limit specified in the schedule we will pay all reasonable costs and legal expenses in defending any claim arising out of an accident and for which we have accepted indemnity under this Section. Policy Exclusions Exclusions – Section 1 Section 1 does not cover: 1. consequential loss, inconvenience, or any other resulting detriment of any kind. 2. depreciation or loss of value. 3. wear and tear, rust, corrosion, deterioration. 4. mechanical, electrical or electronic breakdown, failure or breakages. 5. loss to any part or component of the engine, hydraulic or transmission systems resulting from the causes set out in Exclusions 3 and 4. above (e.g. incorrect gear change other than a genuine attempt to prevent collision or impact, servicing or error in lubricant). 6. loss to tyres or tracks by application of brakes or by punctures, tears or rips, cuts, splits or bursts unless caused at the same time as other loss for which a claim is payable. 7. loss arising from ingestion or entry of any foreign object into any agricultural implement or machine (e.g. tractor or hay bailer). 8. loss arising from failure of, or defect or fault in the design or specification. 9. loss and any distortion, erasure, corruption or alteration of or loss of use of electronic data. This Exclusion shall not apply to any loss to data processing media except to the extent cover is provided by Automatic Extension 10. Data and Processing Media. Exclusions – Section 2 Section 2 does not cover liability: 1. in connection with the bringing of a load to your vehicle or the taking away of a load from it. 2. for any property (including any road or land) arising from vibration caused by your vehicle or from the weight of the load carried by your vehicle, or from the weight of your vehicle or from the combined weight of the load and your vehicle. 3. directly or indirectly caused while any component of your vehicle is being used or operated as a tool of trade; however this does not apply while your vehicle is in transit or being used for transport or haulage. Page 6 of 20 4. in respect of any property which belongs to you, or is in your care, custody or control, other than: (a) personal baggage and wearing apparel of any passenger; (b) a buiIding leased or rented by you; (c) a vehicle (not being your property or insured under Section 1 of the policy) which is being towed by your vehicle, however this does not apply to vehicles which are towed or recovered for reward where your business includes a vehicle recovery service; (d) a battery that is leased or hired by you for use in your electric vehicle. 5. in respect of property, or death or injury to any person, who at the time of the accident, was in charge of your vehicle. 6. arising as a result of a judgment or order of any court outside New Zealand, or for any debt based on such judgment or order. 7. for any deductible applicable to your claim. General Exclusions This policy does not cover any loss or liability: 1. while your vehicle is: (a) being driven outside of the description of use. (b) being driven in connection with: (i) racing, pacemaking, reliability trial, hill climbing or speed tests, or in preparation for any one of these activities (such as pacemaking); or participating in any directly associated activity (such as safety vehicle duties) where the vehicle is required to be on the track or trackside; or (ii) advanced or high performance driver training events; or (iii) any stunt, film, video or audio recording including the preparation thereof; or (iv) any experiment; or (v) recreational offloading which is not on a public road. (c) being driven: (i) to run on railway or tramway lines, tracks or cable; or (ii) in any underground mine, quarry, tunnel (excluding public roads), excavation or cavity. (d) being driven in any condition: (i) where your vehicle has been maintained contrary to the manufacturer’s servicing recommendations for that vehicle; or (ii) as a result of which the vehicle is not fit to deal with any peril likely to be encountered during the course of its normal operation. Provided this General Exclusion will only apply if you were, or the person in charge of your vehicle was, aware, or with reasonable diligence ought to have been aware, of the unsafe condition. General Exclusions 1(a) to 1(d) above shall not apply in respect of loss which results from theft or conversion. (e) being driven by any person who is not the holder of a licence for the appropriate class and use applicable to the operation of your vehicle or its components, or who is breaching any condition of their licence. Provided this Exclusion shall not apply if the driver had held, and is not disqualified from holding or obtaining, and actually obtains a licence, nor if your vehicle is being used for the purpose of teaching a learner to drive if all requirements of the law are being complied with. Page 7 of 20 (f) being driven by any person, who: (i) is under the influence of any intoxicating substance or drug; or (ii) has a proportion of alcohol in the blood which exceeds the legal limit (this Exclusion shall apply notwithstanding the driver may have died as a result of the accident); or (iii) has a proportion of alcohol in the breath which exceeds the legal limit; or (iv) fails to supply a blood or breath sample as required by law; or (v) fails to stop, or remain at the scene, following an accident as required by law, provided: A. a certificate of conviction of the driver may be used by us as sufficient evidence for these Exclusions to apply where the offence was committed at the time of or following the accident. B. a certificate of analysis of the driver’s blood or a reading from an evidential breath testing device of the driver’s breath may be used by us as sufficient evidence of the driver’s minimum blood or breath alcohol level at the time of the accident. 2. incurred by you by virtue of an agreement and which would not have attached in the absence of such agreement. 3. to your vehicle caused by lawful seizure, confiscation, repossession or acquisition. 4. for death or injury which is recoverable or would have been recoverable under any statute or policy of insurance in substitution thereof. 5. which is directly or indirectly caused by: (a) war, invasion, act of foreign enemy, war-like operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, or military or usurped power; or (b) confiscation, nationalisation or destruction or damage to property by order of government, public or local authority; or (c) nuclear weapons material; or (d) ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel. Solely for the purpose of this Exclusion, combustion will include any self-sustaining process of nuclear fission. 6. deliberately brought about by you. 7. for any exemplary damages. (Please refer to Policy Extension 17. ‘Exemplary Damages’). 8. for death, injury, illness, or any other form of cover otherwise available under this policy of whatsoever nature directly or indirectly caused by, resulting from or in connection with any: (a) act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to such loss, damage, liability, death, injury, illness, cost or expense; or (b) action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism. notwithstanding any provision to the contrary within this policy or any endorsement thereto. 9. arising out of or in connection with a cyber act. Page 8 of 20 Policy Extensions Automatic Extensions 1. Additions and Deletions All of your vehicles disposed of during the period of insurance of this policy shall be treated as deleted from the date of their disposal and any vehicle acquired by you shall be covered by this policy from the date of its acquisition. For declaration purposes, you shall declare the vehicle’s market value and for each deletion the value shown on the latest schedule of vehicles as supplied by you. The premium for all additions and deletions shall be adjusted at the end of each year based on 50% of the difference in value of all new additions, less deletions on the premium rate agreed at the beginning of that period of insurance, provided our liability shall not exceed the limit specified in the schedule in respect of each new addition not already advised to us. 2. Battery Damage for Electric Vehicles Section 1 is extended to cover the costs or repairing or replacing the battery of your electric vehicle where damage to the battery is caused as a result of it being charged and regardless of whether any other loss has occurred to your electric vehicle. This Extension does not cover the costs of repairing or replacing a battery where any damage or loss is caused by a defect in the design, manufacture or installation of the battery. 3. Battery Coverage (leased or hired) Section 2 is extended to cover your liability to the owner or lessor of a battery that is leased or hired by you if a loss occurs to your electric vehicle. 4. Breach of Condition Cover provided by this policy will not be invalidated by any breach of condition, where the breach occurs without your knowledge, provided you notify us as soon as reasonably practicable upon becoming aware of such breach. . 5. Car Pooling and Sharing Payment made by passengers as part of a car sharing / pooling agreement does not constitute the conveyance of passengers for hire or reward. 6. Claim Preparation Costs Section 1 is extended to cover reasonable costs incurred by you for preparing a claim for loss which is payable under Section 1 or proving that the loss is claimable under Section 1. Our total liability shall not exceed the limit specified in the schedule, in respect of any one claim, nor begin unless such costs exceed $500 in respect of any one claim. 7. Cleaning up Costs Section 2 is extended to cover costs involved in cleaning or restoring the site of an accident following loss, which is a claim payable under Section 1, to as practically the same condition which existed immediately prior to the accident, charged by any entity. Our total liability shall not exceed the limit specified in the schedule, subject always to a deductible of $500 each and every claim. 8. Crisis Coverage The policy is extended to cover you, up to the sublimit as specified on the schedule to pay public relations expenses, incurred with our prior written consent, following any loss during the period of insurance. When your vehicle is stolen and not recovered, this Extension will have no application. Page 9 of 20 10. Data Processing Media Section 1 of this policy is extended to cover loss to data processing media in your electric vehicl, plus the costs of copying electronic data from back-up or from originals of a previous generation. Any costs incurred from research and engineering or recreating, gathering or assembling such electronic data shall be excluded. If such media is not repaired, replaced or restored then the basis of valuation shall be the cost of blank data processing media. 11. Defence Costs If you or one of your employees is: (a) charged with manslaughter or reckless or dangerous or careless driving causing death; or (b) legally represented at any enquiry or coroner’s inquest in connection with such death, and such death arises from loss, which is a claim payable under Section 1, this Extension covers the reasonable costs of legal representation. Our total liability shall not exceed the limit specified in the schedule in respect of any one accident, which is in addition to any amount payable under this policy. 12. Difference in Excess / Hired-in or Rental Vehicles Where you hire in or rent a vehicle in connection with your business and the hire agreement deems the owner of the vehicle responsible for insurance, your policy extends to cover any difference in the basic deductible level between your policy and the deductible level under the insurance coverage provided by the owner of the vehicle. 13. Disability Modifications If you or one of your employees is injured as a direct result of loss covered under Section 1 resulting in permanent disability which necessitates vehicle modifications (such as hand controls), either to your vehicle or to your employees’ private vehicle, Section 1 is extended to cover the reasonable cost of these modifications. We are only liable in excess of any amount payable by the Accident Compensation Corporation, and our total liability will not exceed $10,000 for any one accident. 14. Electric Vehicle Accessories Section 1 of this policy is extended to cover damage to and theft of electric vehicle charging cables and adaptors owned by you while they are being stored in, or being used to charge your electric vehicle, up to a limit of $5,000. 15. Electric Vehicle Charging Liability Section 2 of this policy is extended to cover your liability to indemnify third parties for loss or injury caused by or arising out of the charging of your electric vehicle. 16. Employees Vehicles This policy is extended to cover your employee’s vehicles or any other vehicle used by an employee, not being the property of their family residing with them, provided: (a) any claim for loss, damage or liability arises solely while the vehicle is being used on your business; or (b) the business use of the vehicle results in the employee’s personal motor vehicle insurance no longer applying. Our total liability shall not exceed the limit specified in the schedule in respect of any one accident. Page 10 of 20 17. Exemplary Damages In the event of an accident giving rise to a claim payable under of this policy, Section 2 is extended to cover your legal liability for exemplary damages in respect of death or bodily injury awarded by a New Zealand court, provided: (a) our total liability shall not exceed the limit specified in the schedule in respect of any one claim and in the aggregate for all claims during any one period of insurance; and (b) each and every claim under this Extension is subject to an additional deductible of $5,000. There is no indemnity under this Extension: (i) if the claimant was involved either directly or indirectly in driving, operating, directing or controlling your vehicle at the time of the accident; or (ii) for exemplary damages arising from any dishonest, fraudulent or malicious act or omission by you or anyone acting on your behalf or from any claim first notified to you but not notified to us within six (6) months of that date. Notwithstanding Policy Condition 7. ‘Other Insurance’, if at the time of the accident there is any other valid and collectable insurance covering all or part of the same claim, this policy will apply only to the amount of the claim over that recoverable under the other insurance. 18. Fire Service Charges The policy is extended to cover you for any charge the New Zealand Fire Service is authorised to make against you, under the Fire Services Act in connection with an accident involving your vehicle. Our total liability shall not exceed $50,000 in respect of any one accident. 19. First Aid Kits In the event of an accident giving rise to a claim payable under this policy, we will pay up to a maximum of $2,500 per claim to replace or restock any first aid kits or equipment in your vehicle damaged or used as a result of that accident. 20. Funeral Expenses If you or one of your employees dies as a direct result of loss covered under Section 1, whether or not death occurs at the time of the loss, this policy covers all funeral expenses associated with the burial or cremation of the deceased person, in excess of any amount payable by the Accident Compensation Corporation or another Insurance Provider. Cover includes any travel costs within New Zealand of the deceased person or any member of his or her immediate family (e.g. spouse, de-facto partner, parent, sibling or child). Our total liability will not exceed $10,000 in respect of any one accident. 21. Goods and Services Tax Policy sub limits and deductibles are GST inclusive, whereas market value is exclusive of GST (a claim for total loss will be settled up to the maximum amount insured by this policy plus GST). 22. Goods in Transit If there is a fire, or collision or impact to your vehicle with any object, or an overturning of your vehicle, or your vehicle is stolen, for which a claim is payable under Section 1 of this policy, this Extension covers loss or damage to your property which was being carried by the vehicle. Our total liability shall not exceed the limit specified in the schedule, in respect of any one accident, subject always to a deductible of $50. 23. Hoists This Extension covers mechanical breakdown or failure of hoists, permanently attached to the your vehicle, which is not due to wear and tear. Our total liability shall not exceed the limit specified in the schedule in respect of any one accident, subject always to a deductible of $500, or such other deductible amount specified on the schedule, whichever is the greater. Page 11 of 20 24. Ingestion of Foreign Object Notwithstanding Section 1 – Exclusion 7 this Extension covers loss or damage resulting from ingestion or entry of any foreign object into any agricultural implement or machine, provided this occurs whilst your vehicle is operated for the purpose for which it has been designed. Our total liability shall not exceed $10,000 in respect of any one accident. 25. Invalidation We shall indemnify you, where you have not waived any right of recovery against the driver or any other person(s) who has caused the loss or damage, in respect of loss or damage to your vehicle, whilst your vehicle is being driven without your knowledge and consent, in a manner which would fall within a policy Exclusion, should a claim arise under Section 1 of this policy. This Condition also extends to indemnify you for any Section 2 liability which may arise from such loss or damage. For the purposes of this Extension only, you shall mean any person you employed with your delegated authority, to control the conduct of the driver or, if the driver is of such senior capacity that his / her knowledge and consent is effectively your knowledge and consent, the driver himself / herself. 26. Joint Insured Where there is more than one insured named in the schedule, Section 2 is to apply separately to each insured, in the same manner and to the same extent as if a separate policy had been issued to each party. Our total aggregate liability, for all insureds, shall not exceed the limit of liability under Section 2. 27. Keys and Locks In the event that your vehicle’s keys are damaged, lost or stolen, this Extension will pay for the reasonable costs of their replacement and the recoding of electronic locks and ignitions where required. Our total liability shall not exceed the limits specified in the schedule both in respect of any one loss and in the aggregate for all claims in any one policy period. A deductible of $250 shall apply to each and every claim (including claims pertaining to theft). 28. Lease Value If your vehicle suffers a total or constructive total loss, settlement under Section 1 in respect of cars, station wagons, vans and utilities only, shall be on the basis of market value or Lease Value whichever is the greater at the time of loss. Lease Value shall mean the residual value of your vehicle which the lease company expects to realise at the termination of the contract. However, no settlement under this Extension shall include any: (a) penalties for early termination; or (b) penalties for any additional distances travelled; or (c) unpaid outstandings; or (d) penalties resulting from lack of or poor servicing or maintenance; or (e) balloon payments; or (f) payment on a lease where there is a guarantee buy back where the residual value exceeds more than 20% of your vehicle resale value. Our total liability shall not exceed 20% of the market value of your vehicle in respect of any one loss. 29. Load Recovery Provided that your vehicle is designed to do so, Section 1 is extended to cover the reasonable costs incurred in salvaging any load carried by your vehicle which following loss, for which a claim is payable under Section 1 of this policy, has spilled onto a road, carriageway or parking area, including the costs of reloading or trans-shipping the load to the nearest place of safe storage. Our total liability shall not exceed the limit specified in the schedule in respect of any one accident. Page 12 of 20 30. Marine Liability If your vehicle is transported by sea or air between places in New Zealand, Section 2 is extended to cover General Average and Salvage Charges, adjusted according to the contract of affreightment and or the governing law and practice, and covers you against such proportion of liability under the ‘Both to Blame Collision’ clause contained in any Contract of affreightment. For example, if the vessel carrying your vehicle is involved in a casualty or if cargo is jettisoned to save the voyage because the vessel is at peril, we shall cover contributory costs, regardless of whether or not your vehicle was damaged. 31. Movement of Other Vehicles Notwithstanding Section 2 – Exclusion 4., this Extension covers liability arising out of the movement by you of any vehicle, which was parked in a position which prevented or impeded you from attending any emergency, or legitimate passage of your vehicle or during loading or unloading of your vehicle. 32. New Replacement Vehicle In respect of any car, station wagon, utility, van or four wheel drive passenger vehicle, if there is a total or constructive total loss, for which a claim is payable under Section 1, occurring within twelve (12) months of your vehicle being first registered as a new vehicle, we shall at our option either provide you with or reimburse you the actual price paid for a new replacement vehicle of similar make and model, whichever is the lesser. 33. No Fault Deductible Waiver Where there is loss, which is payable under Section 1 of this policy, and the third party or the driver of the other vehicle is deemed 100% at fault for the accident, and: (a) the identity of the third party or the driver of the other vehicle is established; and (b) the amount of your claim exceeds the applicable deductible under the policy, then you will not have to pay any deductible towards the claim. Where the third party or the driver of the other vehicle disputes who was at fault, the applicable deductible will then become payable, but will be refunded if we are successful in establishing that the third party driver or driver of the other vehicle was 100% at fault. The deductible is payable if it is determined by a Court that the third party driver or other driver was not 100% at fault. Our total liability shall not exceed $10,000, or the limit specified in the schedule, in respect of any one accident. 34. Non-owned Trailers Liability Section 2 is extended to cover your liability where you may be held legally liable to pay, for actual physical damage to any trailer being towed by your vehicle, caused by or arising out of the use of your vehicle. However: (a) this Extension only applies if the trailer is not owned, rented, hired or leased by you, and at the time of the accident, the trailer is being towed in the course of your business; and (b) the cover provided does not extend to the contents of any non-owned trailer, nor clean-up costs associated with the contents of any non-owned trailer. When cover is provided by this Extension, Section 2 – Exclusion 4. does not apply. Our total liability shall not exceed: (i) the market value of the trailer just before the actual physical damage, based on its age and condition at that time; or (ii) $10,000, whichever is the lesser. Any cover provided by this Extension is subject to an additional deductible of $2,500 per non-owned trailer. Page 13 of 20 35. Other Interested Parties If there is any person or party who has a financial interest in your vehicle, which has been notified to us, the proceeds of any claim under Section 1 of this policy will be payable to such person or party in the order of their legal priority and the receipt of proceeds shall be sufficient discharge. Our total liability shall be limited to such amount as would have been payable to you in the absence of this Extension. 36. Portable Electronic Vehicle Accessories Section 1 of this policy is extended to cover damage to and theft of Radar Detectors and GPS navigation systems (such as ‘Navmans’) whilst in or attached to your vehicle at the time of the loss. Our total liability shall not exceed the limits specified in the schedule in respect of both any one loss and in aggregate for any one policy period. A deductible of $250 shall apply to each and every claim (including claims pertaining to theft). 37. Principals Indemnity In respect of any construction or works project, Section 2 of this policy is extended to indemnify the Principal of such project, but only in respect of their legal liability in terms of cover afforded by Section 2 of this policy arising from accidents in connection with your vehicle, used or operated in connection with such projects. 38. Progress Payments In the event of loss, for which we accept liability under Section 1, we shall make progress payments, provided you have supplied an interim statement of such loss which is approved by our assessor. 39. Rental Vehicles If you do not accept the vehicle owner’s statutory offer of insurance, this Extension covers hired vehicles, as if they were your vehicle, for your liability; (a) to the owner of the vehicle, against: (i) loss under Section 1 of this policy, subject to the limit specified in the schedule in respect of any one vehicle; or (ii) consequential losses caused by a loss for which a claim is payable under (i) above, subject the limit specified in the schedule in respect of any one claim, (b) under Section 2 of this policy. 40. Retrieval Costs In the event of your vehicle becoming unintentionally immobilised in any situation, other than as a result of mechanical, electrical, electronic failure, impact or accident related damage, we will pay you for the necessarily incurred costs of recovery and/or retrieval of your vehicle. However: (a) our liability in respect of such cost will not exceed $50,000 during the period of insurance; or (b) where you provide your own equipment, for the purpose of recovery, settlement shall be at cost, without allowance for profit. Nil deductible will apply if no other loss has occurred to your vehicle. 40. Sign Writing Section 1 of this policy is extended to pay reasonable replacement cost to any sign writing or artwork (including advertising signs) affixed to your vehicle at the time of the accident. Page 14 of 20 41. Subrogation Waiver (Group Companies) Where you have a parent or subsidiary in a group of related companies, this policy will not be invalidated by you waiving or having waived any right of recovery we may have against any other company in the same group, which is covered by this policy. For the purposes of this Extension, a subsidiary company means a company where more than half the nominal value of whose equity share capital is owned by a parent company either directly or through other subsidiaries; and a group of related companies means a group of companies related to one another by virtue of such ownership. 42. Theft Costs If loss results from theft of your vehicle in its entirety, which is payable under Section 1 of this policy, this Extension covers reasonable costs incurred by you for: (a) the protection and recovery or attempted recovery of your vehicle; or (b) any reward offered, with our prior approval, for the return of your vehicle; or (c) hiring another vehicle of similar make and model subject to a: (i) maximum weekly limit as specified in the schedule; or (ii) maximum limit for any one claim as specified in the schedule; or (iii) deductible of seven (7) days. Our total liability for (c) above shall not exceed the limits specified in the schedule in respect of any one claim. 43. Travel Costs If as a result of loss which is payable under Section 1 of this policy, you cannot complete your journey, Section 1 is extended to cover reasonable costs incurred in: (a) hiring another similar vehicle to either continue the journey, until your vehicle has been returned from the repairer, or to return to where the journey first commenced; and (b) returning your vehicle to you, in order to continue their journey, or to where your vehicle is normally based, following its repair. Our total liability shall not exceed the limit specified in the schedule in respect of any one accident and in the aggregate for all accidents in any one period of insurance. For the purposes of this Extension a journey is any travel where the destination is outside of the city or town limits from where travel commenced. 44. Treads and Tracks Damage The policy is extended to cover damage to tyres (including its inner tube) or metal tracks fitted to your vehicle, other than a vehicle principally used for road transport (e.g. van or truck). Our total liability shall not exceed the current replacement cost of the damaged tyre or track at the time of loss, less a reasonable deduction for its use, subject to the limit specified in the schedule in respect of any one tyre of and a deductible of $50 for each and every claim. 45. Vehicle Salvage and Safety Section 1 of this policy is extended to cover reasonable costs incurred in salvaging or recovering your vehicle, including the costs of ensuring its safety and delivery to a place of suitable repair or inspection, following loss for which a claim is payable under Section 1 of this policy. Page 15 of 20 46. Weight Damage Notwithstanding Section 2 – Exclusion 2, Section 2 is extended to cover liability caused by either the: (a) weight of the load carried by your vehicle; or (b) weight of your vehicle; or (c) combined weight of the load and your vehicle. Our total liability shall not exceed the limit specified in the schedule for any one accident and is subject to a deductible of $2,000 for each and every claim. 47. Windscreens and Windowglass If loss occurs solely to any windscreen or window glass (or any scratching or damage to body work resulting solely and directly from such breakage), this Extension covers the cost of either repairing or replacing them. Any payment by us will not be subject to any deductible, provided the deductibles listed in the schedule list windscreens and window glass as a deductible proviso, nor prejudice your premium rating. 48. Preferred repairer Where the vehicle requires repairs, you may select your preferred repairer to undertake repairs on the vehicle up to a maximum of $2,000, provided that we (or our assessor) have had the opportunity to examine the repairs. 49. Expediting expenses Following an accident to your vehicle, we will pay you for the reasonable additional costs necessary to effect immediate temporary repairs or to expedite permanent repairs for the loss to your vehicle. Provided such cost per accident does not exceed 50% of the repair costs, based on our assessment of those costs, or $5,000, whichever is the lesser. Optional Extensions The following optional Extensions only apply when stated in the schedule. 1. Burning Cost At the inception of the period of insurance, you will pay a deposit premium as shown in the schedule to us. At the expiry of the period of insurance, we will adjust the premium in accordance with the ’Sum Insured’ clause contained in the General Policy Conditions. Any additional premium owing to us, or rebate we owe you, will be added to, or subtracted from the deposit premium. The minimum and maximum premiums noted in the schedule, will at the same time be adjusted by applying the percentage factor by which the deposit premium has been so adjusted. Your ‘Burning cost’ premium will then be calculated by us as follows: Total incurred claims for the period of insurance, multiplied by the agreed adjustment factor as shown in the schedule. Subject to the adjusted minimum and maximum premiums, you must pay us, or we will rebate to you, the difference between the amount calculated by the adjusted premium and the deposit premium you have already paid. ’incurred claims‘ means total claims paid by us, less any recoveries received by us, during the period of insurance plus an amount for outstanding claims, including an allowance for claims incurred but not yet reported to us. We shall also retain the right to: (a) carry out a premium adjustment once incurred claims exceed 80% of the deposit premium and call up any additional premium which is in excess of the deposit premium; and (b) carry out a further adjustment at expiry of the current period of insurance; and/or (c) carry out a final premium adjustment dependent upon any subsequent claim movements relating to the period of insurance in respect of which the previous adjustment(s) occurred. Such adjustment is to occur within 12 months of the prior adjustment. Page 16 of 20 2. Profit Share At the end of each period of insurance, the Deposit Premium shall be adjusted on the Loss Ratio actually achieved. If the Loss Ratio is more than 60% then no refund of premium is due. However if the Loss Ratio is equal to or less than 60%, you shall be entitled to a refund by applying one of the following Profit Share Percentages against the Deposit Premium, less Losses: Loss Ratio Profit Share Percentage Less than 40%: 20% Between 41% and 50%: 15% Between 51% and 60%: 10% Over 60%: NIL Upon renewal of this policy for a further year, it is conditional that any Profit Share refund shall only be credited against the following year’s renewal premium. For the purposes of this Extension only: (a) Deposit Premium shall mean the amount of all gross premiums charged to you less any returns made during the year, but not including any previously earned Profit Share credit. (b) Loss Ratio shall mean the percentage derived by dividing Losses by the Deposit Premium. (c) Losses shall mean the total amount of claims paid and reasonable estimates of claims yet to be paid, including fees and net of actual and estimated recoveries as a result of accidents during the period of insurance. 3. Loss of Use (Replacement Vehicle Costs) If loss prevents you from using your vehicle, this Extension covers the reasonable cost of hiring a substitute vehicle, provided: (a) this Extension will apply to your vehicles specified in the schedule which are designated as subject to this Extension; (b) if you have suffered a loss for which a claim is payable under Section 1 in excess of the policy deductible; (c) the cover under this Extension is in addition to the cover for loss and is subject to the deductible for this Extension specified in the schedule; (d) compensation will begin when your vehicle is delivered to the repairer to start the repair or from the date of accident if your vehicle was totally disabled or lost at that date subject to the excess period specified in the schedule; (e) compensation will cease when the repairs are completed and you have taken delivery of the your vehicle or has returned the substitute hire vehicle (whichever occurs first). In the case of total loss, compensation will cease from the date when you receive payment for the total loss; (f) the substitute vehicle is of a similar specification to your vehicle; (g) no compensation will be paid if you have available a free replacement vehicle or purchased an additional or replacement vehicle; (h) the repair or replacement of your vehicle is carried out with reasonable dispatch. Any delay beyond the reasonable control of you will not be considered as a breach of this provision. Our total liability under this Extension will not exceed the limits specified on the policy schedule. For the purposes of this Extension only, your vehicle means only those vehicle(s) specified on the schedule as having elected this Extension. Page 17 of 20 Policy Conditions Claims Conditions 1. Section 1 If there is a claim under Section 1, you: (a) must take prompt steps to prevent and minimise loss; and (i) where the vehicle can be driven safely and without causing further loss, take it to a repairer or otherwise have it towed to the nearest suitable repairer or tow-yard; and (ii) as soon as possible, inform our nearest office and complete a claim form and deliver it to us. (b) Note: No repairs should be carried out until our surveyor / assessor has examined the vehicle and approved any repair work, unless this requirement is specifically waived by us prior to the commencement of the repair; and (c) is responsible for the payment of the deductible to the repairer. 2. Section 2 If there is a claim, or possible claim, under Section 2: (a) you must as soon as possible, complete and provide back to us, a claim form and must not, without our written consent: (i) incur any expenses in making good any loss to the property of others or incur any legal expense; (ii) make any statement or take action which may be considered to be an admission of liability; (iii) negotiate, pay, settle, admit or repudiate any claim made by another person, but must refer that person to us to handle the claim on your behalf. (b) we may pay to you , once incurred, the full amount of our liability for a claim under Section 2 and relinquish the conduct of any claim, defence or proceedings. We will not be liable for any costs or expenses whatsoever incurred by you or any other person after we have paid such amount and relinquished such conduct. 3. Additional Information We may require you, or any other person, to co-operate with us and supply any information or documentation or declaration we may reasonably require. 4. Notification to Authorities You will notify the police as soon as reasonably practicable in respect of loss or liability as a result of theft, conversion, arson, malicious damage; or death or bodily injury to any person; including the names and identities of any suspect or offender. Where an offender is positively identified and it is reasonable to do so, we may require you to lay a formal complaint with the police and request that charges be brought against the person or party responsible. 5. Total Loss If there is any payment by us in respect of the total loss (or constructive total loss) of your vehicle, the cover granted by this insurance on your vehicle ceases entirely from the date of such loss and no premium will be refundable for the unexpired period of insurance in respect of that vehicle. Your vehicle then becomes our property. 6. Subrogation If we indemnify you for any loss or liability, we shall be entitled to instigate, take over or defend any legal proceeding in your name, including any claim or counterclaim, and shall have full discretion to conduct or settle such proceedings including any recovery action. You shall render to us all reasonable assistance. Page 18 of 20 General Policy Conditions 1. Cancellation You may cancel this policy at any time by giving notice to us. We shall refund to you any unexpired premium already paid on a pro rata basis, however we may charge a cancellation fee. We may cancel this policy, by written notice to you, either delivered personally, posted, facsimiled or emailed to the address last known to us. Cancellation shall be effective from 4.00 pm on the 30th day after delivery. 2. Change of Exposure This policy was arranged on the basis of the information supplied to us from you or on your behalf. If any circumstances, with regard to the nature of the risk being insured, change during the currency of the policy, you will notify us as soon as you become aware of such change, for example: (a) modifications made to your vehicle (excluding conversion to LPG or CNG); (b) change in the use of your vehicle; (c) change in the physical ability of any driver. 3. Reasonable Care and Due Diligence You must exercise all reasonable care, precautions and use all due diligence to prevent loss to insured vehicles and prevent any liability and comply with all statutory obligations and by-laws or regulations imposed by any public authority for the safety of vehicles and for the carriage of passengers, goods or merchandise. 4. Fraud If any fraudulent means or devices are used by you, or anyone acting on your behalf, when entering into this insurance or to obtain any benefit under this policy, all benefits under this policy are forfeited. 5. Instalment Premiums If you elect to pay the premium by instalments then: (a) the instalment payment plan must first be approved by us; and (b) if paying quarterly then, notwithstanding the period of insurance stated in the schedule, the period of insurance is for three months only. However it will be continuously renewed thereafter for a further period of insurance of three months by payment of the next instalment due at the end of the previous period of insurance, until such time as this insurance is cancelled; and (c) if paying monthly, notwithstanding the period of insurance stated in the schedule, the period of insurance is for two months only. However it will be continuously renewed thereafter for a further period of one month by payment of next instalment premium due at the end of the previous period of insurance, until such time as this insurance is cancelled; and (d) where there is total or constructive total loss which is covered by this policy, we shall be entitled to deduct from any payment made to you or on your behalf or anyone entitled to indemnity under this policy, an amount equivalent to the annual premium otherwise payable by you if the decision had not been made to pay the premium by instalments. 6. Observance The due observance and fulfilment of the terms, provisions, conditions and endorsements of this policy in so far as they relate to anything to be done or complied with by you, and the correctness of the statements and answers in the proposal or supporting statements, or in any claim form, or in any statement in support of a claim, whether made by you or by others on your behalf, will be conditions precedent to our liability to make any payment under this policy. Page 19 of 20 7. Other insurance If at the time any claim arises under this policy, there is any other existing insurance covering the loss or liability, this policy will only apply in excess of the other insurance, even if there is a similar ‘Other Insurance’ condition in the other insurance policy. 8. Sums insured The values submitted to us for all your vehicles must represent, as nearly as possible, their current market value. Values such as book value, depreciated cost, written down value and residual value will not be sufficient to comply with this policy condition. In the event of a claim we may require you to provide schedules of your vehicles showing their book value, depreciated cost, written down value or residual value in your business records. 9. Sanctions regulation Notwithstanding any other terms or conditions under this policy, we shall not be deemed to provide coverage and will not make any payments nor provide any service or benefit to you or any other party to the extent that such cover, payment, service, benefit and/or any business or activity would violate any applicable trade or economic sanctions, law or regulation. 10. Proper law and jurisdiction The construction, interpretation and meaning of the provisions of this policy shall be determined in accordance with New Zealand law. In the event of any dispute arising under this policy including, but not limited to, its construction, validity, performance or interpretation, you will submit to the exclusive jurisdiction of any competent Court in New Zealand. A reference to any statute, regulation or subordinate legislation includes any amendment, replacement, successor or equivalent to or of that statute, regulation or subordinate legislation. Page 20 of 20 Zurich Australian Insurance Limited (incorporated in Australia) Trading as Zurich New Zealand ABN 13 000 296 640, AFS Licence No: 232507 Level 9, 29 Customs Street West, Auckland Central 1010 Client Enquiries Telephone: 0508 987 424 www.zurich.co.nz ZU24282 - V2 11/23 - ITRN-021563-2023 --- ## Dual New Zealand — DUAL New Zealand Commercial Motor Vehicle (08.23 v2) > _Markdown transcription of Dual New Zealand DUAL New Zealand Commercial Motor Vehicle (08.23 v2) policy wording, effective 2026-05-27. Source: https://nz.dualinsurance.com/hubfs/DUAL%20ANZ/DUAL%20New%20Zealand/NZ%20policy%20wording/DUAL-NZ-Commercial-Motor-Policy-Wording.pdf_ --- DUAL Motor Insurance Commercial Motor 1 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 DUAL New Zealand Commercial Motor Policy Wording Contents Introduction 4 Insurance Agreement 4 Definitions 4 Policy Cover Options 7 When Cover Applies 8 Section 1: Cover for the Insured Vehicle 8 Section 1: Exclusions 8 Section 1: Basis of Settlement 10 Section 1: Automatic Extensions 11 Section 1: Optional Extensions 15 Section 2: Liability Cover 16 2 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Section 2: Exclusions 17 Section 2: Basis of Settlement 18 Section 2: Automatic Extensions 19 Automatic Policy Extensions Applicable to both Sections 1 and 2 21 Optional Policy Extensions Applicable to both Sections 1 and 2 23 General Exclusions 24 How to Claim 27 General Conditions 29 Laws And Acts That Govern This Policy 31 Limits and Excesses 31 3 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Introduction About This Policy Your Commercial Motor Vehicle Policy consists of: 1. This policy document, and 2. The schedule, and 3. Any endorsements or warranties that we apply, and 4. The information you have provided in the application. Your Duty Of Disclosure When you apply for insurance, you have a legal duty of disclosure. This means you or anyone acting on your behalf must tell us everything you know (or could be reasonably expected to know) that a prudent insurer would want to take into account in deciding: 1 To accept or decline your insurance, and/or 2. The cost or terms of the insurance, including the excess. You also have this duty every time your insurance renews and when you make any changes to it. If you or anyone acting on your behalf breaches this duty, we may treat this policy as being of no effect and to have never existed. Please ask us if you are not sure whether you need to tell us about something. Examples We have used examples and comments to make parts of this policy document easier to understand. These examples and comments are printed in italics and do not affect or limit the meaning of the section they refer to. Headings The headings in this policy document are for reference only and do not form part of it. They must not be used when interpreting the policy document. Defined Words If a word is shown in bold, it has a specific meaning. There is a list of these words and what they mean in the ‘DEFINITIONS’ section. Insurance Agreement Our Agreement You agree to pay us the premium and comply with this policy. In exchange, we agree to insure you as set out in this policy. Definitions The definitions apply to the plural and any derivatives of the bolded words. For example, the definition of ‘accident’ also applies to the words ‘accidental’, ‘accidentally’, and ‘accidents’. 4 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Accessory A minor fitting or attachment that alters the performance, characteristics of, or is designed for use in, a vehicle to which it is attached but without which the vehicle would still operate, spare parts, and emergency aids, each used exclusively for the insured vehicle (including when temporarily removed from the insured vehicle) (e.g. on board computers, telephone installations, load securing or protection equipment in, on or in connection with the insured vehicle, and racking installed in tradesmen’s vehicles). Accident a sudden, fortuitous or unforeseen occurrence, happening or mishap, which is not expected nor intended by the insured. Act of terrorism Includes any unlawful act, or preparation in respect of action, or threat of action designed to influence or coerce the government de jure or de facto of any nation or any political division thereof, or in pursuit of political, religious, ideological, or similar purposes to intimidate the public or a section of the public of any nation by any person or group(s) of persons whether acting alone or on behalf of or in connection with any organisation(s) or government(s) de jure or de facto, and that: 1. Involves violence against one or more persons, or 2. Involves damage to property, or 3. Endangers life other than that of the person committing the action, or 4. Creates a risk to health or safety of the public or a section of the public, or 5. Is designed to interfere with or disrupt an electronic system. Annual period The period of insurance. However, if: 1. You pay the premium monthly or quarterly, or 2. The period of insurance is for more than 12 months, The annual period is the current 12 month period calculated consecutively from the date this policy first started. Application The information provided by the insured to us when they purchased this insurance or requested a quotation for this insurance from us. It also includes any subsequent information the insured provides us with. Bodily injury The death of, or the bodily injury to any person during the period of insurance, including sickness, disease, disability, shock, fright, mental injury. Driver The person driving or operating any component of the insured vehicle (for example, a crane). Excess The first amount of any claim that the insured must pay for an event, specified in the schedule or in this policy. Event An event, or series of events, arising from one source or original cause. 5 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Insured / You The insured named on the schedule, including any: 1. Subsidiary company, 2. Associated managed company, 3. Associated social or sporting club, 4. New company or organisation formed or acquired by the insured during the period of insurance. We may also use the term ‘you’ to describe ‘insured’. Insured vehicle 1. All vehicles listed in the vehicle declaration, and 2. Any other vehicle, hired, rented, or borrowed without financial or other consideration, by the insured during the period of insurance. Note: Additional vehicles purchased or leased during the period of insurance are covered under Automatic Extensions Applicable to Both Sections 1 and 2 ‘A – Additions and Deletions’. Loss Physical loss or physical damage. Market value The reasonable sale price of the same or a comparable vehicle of similar pre-loss age, condition and specification, but disregarding the presence of any signwriting, vehicle wraps or artwork on the vehicle. Note: Total Loss Signwriting Optional Extension is available to cover the replacement of signwriting. Mechanical plant A vehicle, that has either plant or machinery attached to it, or is primarily designed as mobile plant or mobile machinery. Period of insurance The period of time stated in the schedule that specifies the start and end dates of this insurance contract or if this policy is renewed, the period of time stated in the most recent renewal schedule, unless your policy has ended earlier. Reparation An amount ordered by a New Zealand Court to be paid to the victim of an offence under section 32 of the Sentencing Act 2002 and any subsequent amendments. Residual value The residual value of an insured vehicle under a lease, hire purchase or similar agreement, calculated in accordance with that agreement but excluding: 1. Penalties for early termination, or 2. Penalties for any additional distance travelled, or 3. Unpaid obligations under the lease at the time of the loss, or 4. Penalties resulting from lack of servicing or poor maintenance, or 5. ‘balloon’ payments, or 6. The amount by which the residual value of the insured vehicle exceeds 120% of its market value. 6 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Schedule The relevant schedule issued by us to the insured. Subsidiary A company with more than half the nominal value of its equity share capital owned by a parent company, either directly or through other subsidiaries. Total loss Actual total loss, or if we determine the insured vehicle is uneconomic to repair. Use Includes driving, operating, parking, garaging or storing of the insured vehicle. Vehicle Any type of machine on wheels, tracks or rollers (but not rails) that is propelled by its own power, and anything designed to be towed by such a machine, including any accessories. Vehicle declaration The list of insured vehicles stating their values provided to us by the insured at the inception of this policy, and at any subsequent endorsement or renewal. We/Us/Our HDI Global Specialty SE, a company registered in Germany acting through its New Zealand branch, HDI Global Specialty SE - New Zealand (FSP 774050), acting through its agent DUAL New Zealand Ltd Policy Cover Options The insured vehicles will be covered under one of the following Policy Cover Options. The option that applies will be shown on the schedule. Type of Cover: Provides: 1. Cover under ‘Section 1: Cover for the Insured Vehicle’, and 2. Cover under ‘Section 1: Automatic Extensions’, and Full Cover 3. Cover under ‘Section 2: Liability Cover’, and 4. Cover under ‘Section 2: Automatic Extensions’, and 5. Cover under ‘Automatic Extensions applicable to both Sections 1 and 2’. 1. Cover under ‘Section 1: Cover for the Insured Vehicle’ only covering accidental loss to the insured vehicle caused by: fire, lightning, explosion, theft or illegal conversion, and 2. Cover under ‘Section 1: Automatic Extensions’, only in respect of a claim covered under Section 1: Cover for the Insured Vehicle’ and Third Party, Fire 3. Cover under ‘Section 1: Automatic Extensions D. Damage Caused by an Uninsured and Theft Third Party’, and 4. Cover under ‘Section 2: Liability Cover’, and 5. Cover under ‘Section 2: Automatic Extensions’, and 6. Cover under ‘Automatic Extensions applicable to both Sections 1 and 2’. 7 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 1. Cover under ‘Section 1: Automatic Extensions D. Damage Caused by an Uninsured Third Party’, and 2. Cover under ‘Section 2: Liability Cover’, and Third Party Only 3. Cover under ‘Section 2: Automatic Extensions’, and 4. Cover under ‘Automatic Extensions applicable to both Sections 1 and 2’. When Cover Applies There is only cover under this policy when any vehicle insured under this policy is being used: 1. For the insured’s business or occupation as agreed by us prior to inception of this policy or any renewal, or 2. For the insured’s private, social or domestic purposes, or 3. For a business or occupation comparable with the insured’s business or occupation as above, when hired, rented or lent out by the insured, with or without a driver, provided that: a. all policy terms and conditions are observed at the time that any loss to the insured vehicle occurs, and b. there is no other insurance which covers the loss. There is no cover under this policy when any vehicle insured under this policy is used on a race track, or for pace making, reliability trials, hill climbs or speed tests, or while being used in preparation for any of these activities. Section 1: Cover for the Insured Vehicle Accidental Loss to the Vehicle: We will indemnify the insured for accidental loss to an insured vehicle occurring anywhere in New Zealand during the period of insurance Section 1: Exclusions The following exclusions apply to Section 1: Cover For The Insured Vehicle, Section 1: Automatic Extensions, and Section 1: Optional Extensions. IMPORTANT: Please also read GENERAL EXCLUSIONS that apply to all parts of this policy. A. Types Of Loss Not Covered This policy does not insure loss connected with: 1. Wear and tear, or 2. Rust or corrosion, or 3. The failure of, or any fault or defect in, the insured vehicle’s design, specification or materials. However, this exclusion is limited to the part immediately affected and does not apply to any resultant accidental loss to any other part of the insured vehicle. B. Ingestion And Entanglement This policy does not insure loss connected with the entanglement, ingestion or entry of any foreign object into any mulching, chipping or agricultural implement or machine (e.g. tractor or hay baler). C. Consequential Loss 8 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 This policy does not insure: 1. Loss of use of any kind whatsoever, or any costs or expenses that result from that loss of use, unless expressly insured under Section 1: Automatic or Optional Extensions, or 2. Depreciation or loss in value. D. Vehicle Parts 1. This policy does not insure loss to the following parts of an insured vehicle: a. engine and all engine parts, b. cooling systems, including but not limited to radiators, heat exchangers, cooling fans, pressure caps, water pumps, thermostats and hoses, c. hydraulic system, including but not limited to shock absorbers and suspension systems, d. transmission system, including but not limited to gearbox, drive shafts, axles, differentials, clutches, and wheel hubs, e. fuel systems, f. braking systems, g. electrical/electronic systems, computer systems, and mechanical systems, h. pumping and vacuuming systems, i. any fixed plant machinery (including but not limited to food/drink preparation equipment), j. underground exploratory devices. 2. However, this exclusion does not apply to loss the direct result of: a. fire, b. the insured vehicle or a conveying vehicle overturning, c. the insured vehicle suffering an impact or collision with an external object, d. the insured vehicle being partly or fully immersed in a body of water, e. the insured vehicle being stolen or converted, f. the insured vehicle being maliciously damaged, g. the insured vehicle being accidentally operated with the incorrect fuel type (e.g. diesel in a petrol engine or petrol in a diesel engine). This does not include operating the insured vehicle with fuel of the correct type which is contaminated, h. hail, snow, storm or lightning, i. natural disaster, j. animals. E. Drilling Equipment This policy does not insure loss to any drill shaft or bit of any type of drilling rig or machinery whilst being used for the purpose of drilling below ground or surface level. F. Tyres 9 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 This policy does not insure damage to or destruction of tyres. However this exclusion will not apply if the damage or destruction results from a loss otherwise covered under Section 1 of this policy. G. Vehicles Hired, Rented Or Lent Out This policy does not insure loss resulting from theft or conversion of the insured vehicle by a person to whom the insured vehicle has been hired, rented or lent by the insured. Section 1: Basis of Settlement A. Method Of Indemnity Unless stated differently in this policy, we will indemnify the insured by whichever of the following options we choose, having regard to the insured’s interest. 1. If we consider the insured vehicle is economic to repair, we will at our option: a. Pay the reasonable cost of repairs to the insured vehicle, or b. Pay the cash equivalent of the reasonable cost of repairs to the insured vehicle. 2. If we consider the insured vehicle is a total loss, we will at our option: a. Replace the insured vehicle with a vehicle of similar condition, or b. Pay an amount equal to the market value of the insured vehicle or the amount stated in the vehicle declaration, whichever is the lesser, unless the insured vehicle is leased, in which case we will pay an amount equal to the market value or residual value of the insured vehicle, whichever is the greater. B. Maximum Amount Payable Unless stated differently in this policy, the maximum amount we will pay: 1. Is the market value of the insured vehicle, or the value of the insured vehicle stated in the vehicle declaration, whichever is lesser, unless the insured vehicle is leased, in which case we will pay an amount equal to the market value or residual value of the insured vehicle, whichever is the greater, or 2. Is the limit specified in the Limits and Excesses section for vehicles hired, rented, or borrowed without financial or other consideration, by the insured during the period of insurance. C. Improvements We will not pay, including pay by way of cash equivalent, for that portion of any repair or replacement that improves the condition of the insured vehicle beyond its condition before the loss. D. Obsolete Parts If any part or component of the insured vehicle is no longer manufactured, we will not pay for more than the supplier’s or manufacturer’s list price. Where no such list price applies, the most we will pay will be the lesser of: 1. The last known list price in New Zealand, or 2. The price of the part’s closest New Zealand equivalent, or 3. The cost of making a new part. E. Excess The excess shown in the schedule and any excess payable under any Section 1: Automatic Extension or 10 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Section 1: Optional Extension will be deducted from the amount of the loss for each event. Where the cause of loss is theft or fire (fire not resulting from impact) to the insured vehicle, no excess will apply to the Section 1 claim unless stated in the schedule or payable under any Section 1: Automatic Extension or Section 1: Optional Extension. If more than one insured vehicle suffers loss from a single event, only one excess shown in the schedule will apply, being the highest excess, together with any excess payable under any Section 1: Automatic Extension or Section 1: Optional Extension. Section 1: Automatic Extensions In addition to the cover under ‘Section 1: Cover For The Insured Vehicle’ above, we also provide the following automatic extensions. Where a limit is specified in the extension, this is in addition to the maximum liability under ‘Section 1: Basis of Settlement”. Otherwise, any payment under an extension is subject to the maximum amount payable under ‘Section 1: Basis of Settlement’. A. Appreciation – Mechanical Plant Section 1 is extended to cover the insured for appreciation of the market value of the mechanical plant specified in the vehicle declaration as a result of loss covered under Section 1 provided: 1. The specified market value of the mechanical plant was correct at the time of inception or renewal of this policy, and 2. The appreciation shall be no greater than 25% of the value in the vehicle declaration. B. Claim Preparation Costs Section 1 is extended to cover reasonable costs incurred by the insured (other than the insured’s internal costs) in having a claim prepared for a loss covered under Section 1, or proving that a loss is a claim under Section 1 (but not costs incurred in disputing the claim if it is declined). The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. C. Completion Of Journey Costs When, as a result of a loss covered under Section 1, the insured’s journey cannot be continued, this policy covers the insured’s reasonable costs incurred in: 1. Hiring another vehicle of similar make and model to complete the journey, or to return the insured or driver to where the journey first commenced, and 2. Returning the insured vehicle to the premises where it is normally based following its repair, or the cost of recovering it in the event of theft or conversion. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. D. Damage Caused By An Uninsured Third Party The insured is covered for any uninsured losses (including any excess) caused by an identifiable and uninsured driver of another vehicle occurring in New Zealand during the period of insurance, provided that: 1. Full liability is admitted by that third party, or the insured has provided us with evidence establishing full liability of that third party, and 2. The insured supplies us with enough information to identify the third party (such as the correct registration, their name and address). This extension is independent of cover provided under Section 1. The most we will pay under this extension for any one insured vehicle for any one event is the limit shown in the Limits and Excesses section. 11 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 E. Death By Accident If the insured or an employee of the insured, or any member of the immediate family (e.g. father, mother, brother) of the insured or the insured’s employee, dies as a direct result of an accident causing loss to an insured vehicle, whether or not death occurs at the time of the accident, we will pay to the insured the amount shown in the Limits and Excesses section, regardless of any other insurance. F. Disability Modifications If the insured or an employee of the insured become permanently disabled as a direct result of bodily injury sustained in an accident covered under Section 1 we will pay to the insured the reasonable costs of any necessary modifications in excess of any amount payable by the Accident Compensation Corporation, (e.g. hand controls) to any one vehicle. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. G. Employees’ Vehicles Section 1 is extended to cover vehicles owned by the insured’s employees, provided that: 1. The vehicle is used in the course of the insured’s business, 2. The employee has personal motor vehicle insurance insuring the vehicle, 3. That use results in the employee’s personal motor vehicle insurance no longer applying, and 4. The person using the vehicle meets all the same terms of this policy that the insured must meet. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. H. Expediting Expenses This policy is extended to cover the insured for the reasonable additional costs of express freight and overtime to expedite repairs to the insured vehicle as a result of accidental loss covered under Section 1. The most we will pay under this extension for any one event is an additional 50% of the normal repair costs. I. Funeral Expenses If the insured, an employee of the insured, member of the immediate family (e.g. father, mother, brother) of the insured or the insured’s employee, dies as the direct result of an accident causing loss to an insured vehicle, whether or not death occurs at the time of the loss, we will pay to the insured all funeral expenses associated with the burial or cremation of the deceased, in excess of any amount payable by the Accident Compensation Corporation or any other insurer. This policy extension also covers any travel costs within New Zealand of any immediate family member (e.g. father, mother, brother) of the deceased necessarily incurred as a result of attending the funeral. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. J. Goods In Transit If an insured vehicle suffers loss arising from: 1. Fire, or 2. Collision, or 3. Impact, or 4. Overturning, Which is covered under Section 1, this extension covers loss to goods owned by the insured carried on or in the insured vehicle at the time of the loss. 12 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. The additional excess shown in the Limits and Excesses section applies. K. Hoists Section 1 is extended to cover the insured for loss during the period of insurance to hydraulic rams and hoists permanently attached to the insured vehicle, caused by mechanical breakdown or mechanical failure. The cover provided by this extension does not apply if the mechanical breakdown or mechanical failure is caused by wear and tear. Section 1: Exclusions, ‘D – Vehicle Parts’, does not apply to this extension. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. The excess: 1. As shown in the Limits and Excesses section, or 2. The Section 1 insured vehicle excess, applies, whichever is the greater. L. Keys And Locks Where any key giving access to the insured vehicle is lost, stolen or believed on reasonable grounds to have been duplicated without the insured’s permission during the period of insurance, we will cover the costs reasonably incurred in replacing that key and altering or replacing the locking mechanism. The most we will pay under this extension are the limits shown in the Limits and Excesses section. The excess shown in the Limits and Excesses section applies. M. Load Recovery Section 1 of this policy is extended to cover the reasonable costs incurred in salvaging any load carried by an insured vehicle which has spilled onto a road, carriageway or parking area. This includes the reasonable costs of reloading or trans-shipping the load to the nearest place of safe storage. This extension does not cover any fines or penalties payable by the insured. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. N. Mutually Acceptable Assessors An assessor mutually agreed upon by us and the insured will assess any loss under this policy. O. New Replacement Vehicle If a car, station wagon, utility, van or four wheel drive vehicle under 3,500kgs owned or leased by the insured and is covered under Section 1 of this policy, suffers a total loss within 12 months of it being first registered as a new vehicle in New Zealand, we will either: 1. Provide a new replacement vehicle of the same make, model and specification, or 2. If a new replacement is not available, pay an amount equal to the price for which such a vehicle was last available in New Zealand. If the insured elects not to have the insured vehicle replaced in accordance with this extension, we will indemnify the insured in accordance with Section 1: Basis of Settlement clause above. 13 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 P. Repair Authorisation The insured may authorise any reasonable repairs for loss to an insured vehicle without prior notice to us. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. If the estimated repair costs exceed this limit, repairs must not be commenced without our consent or the assessor’s consent. Q. Rewards Section 1 of this policy is extended to cover a reward offered and paid by the insured to successfully secure the return of the insured vehicle following its theft, if the theft is covered under Section 1, and the offer is made with our prior approval. The most we will pay under this extension for all rewards offered for any one event is the limit shown in the Limits and Excesses section. R. Salvage And Safety Section 1 of this policy is extended to cover the reasonable costs incurred in salvaging or recovering the insured vehicle, including the costs of ensuring its safety and delivery to a place of suitable repair or inspection, following a loss covered under Section 1. S. Theft – Hire Of Alternative Vehicle Section 1 of this policy is extended to cover the reasonable costs incurred by the insured of hiring another vehicle of a similar make, model and specification, following a loss to the insured vehicle caused by theft or illegal conversion covered under Section 1, provided that: 1. Cover under this extension begins on the date the insured vehicle is stolen, 2. The cost of the first 7 days of hire is not covered by this extension, 3. Cover under this extension ends: a. If the insured vehicle is recovered and is not a total loss, and has been repaired and returned to the insured, or b. When we have settled the insured’s claim under Section 1 of this policy, whichever is the earlier date, 4. This extension does not cover the costs of insurance, petrol or normal running costs of the hire vehicle. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. T. Tyre Damage Section 1 of this policy is extended to cover loss during the period of insurance to any tyre (including its inner tube) fitted to an insured vehicle not principally used for driving on a road, regardless of whether there has been loss to any other part of the insured vehicle or not. We will at our option pay: 1. The cost to repair the damage, or 2. An amount equal to the reasonable cost of repair, or 3. The cost to replace the tyre, less a reasonable deduction for the damaged tyre’s wear and tear, or 4. An amount equal to the value of the tyre immediately prior to the loss. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. No excess will apply to this extension 14 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Section 1: Exclusions, ‘F – Tyres’ does not apply to this extension. U. Windscreens And Window Glass If the insured’s claim under Section 1 is solely for loss to windscreens, sunroof, headlights, tail lights, indicator light glass, mirror glass or window glass (including scratching or damage to bodywork resulting solely from broken glass): 1. No excess applies to the claim, unless otherwise specified on the schedule, and 2. If there was tinting or signwriting affixed to the windscreens or window glass, we will pay to have that portion of the tinting or signwriting reinstated. We will not pay for any costs associated with joining or associated tinting or signwriting on other parts of the insured vehicle under this extension. Section 1: Optional Extensions These extensions are optional and only apply where specified in the schedule. A. Agreed Value In the event of a total loss covered under Section 1, we will pay the agreed value as specified in the schedule. B. Ingestion Or Entanglement Of Foreign Objects We will indemnify the insured for loss resulting from entanglement, ingestion, or entry of any foreign object into any mulching, chipping or agricultural implement or machine, provided this occurs whilst the insured vehicle is operated for the purpose for which it has been designed, and is being used in conjunction with the agricultural implement or machine. Section 1: Exclusions, ‘B – Ingestion and Entanglement’ does not apply to this Optional Extension. C. Loss Of Use Section 1 of this policy is extended to cover the reasonable costs incurred by the insured of hiring another vehicle of a similar make, model and specification, following a total loss or pending repair of loss covered under Section 1, while the insured vehicle is unfit to be driven, provided that: 1. This extension applies only to an insured vehicle stated in the schedule as being subject to this extension, and 2. In the case of repair, the insured must have the repair carried out as soon as reasonably practicable after suffering the loss, and 3. This extension does not apply if the insured has available a free substitute vehicle or purchases an additional vehicle, and 4. Cover under this extension begins: a. When the insured vehicle is delivered to the repairer agreed to by us to start the repair, or b. The date of the loss, if the insured vehicle is unfit to be driven, or is deemed a total loss at that date, and 5. Cover under this extension ends: a. In the case of a total loss, when we have agreed to the insured’s claim under Section 1 of this policy, b. In the case of repair, when the repairs are completed and the insured vehicle is available to be collected or delivered, c. When the insured has returned the substitute hire vehicle, Whichever is the earlier date, and 15 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 6. The cost of the first 7 days of hire is not covered by this extension, and 7. This extension does not cover the costs of insurance, petrol or normal running costs of the hire vehicle, and 8. This extension does not apply if the insured has made a claim under Section 1: Automatic Extensions, ‘S – Theft – Hire of Alternative Vehicle’. If no vehicle of a similar make, model and specification is available for hire (the insured having consulted with us as to availability of such a vehicle), following a total loss or pending repair of loss covered under Section 1, while the insured vehicle is unfit to be driven, subject to the application of and compliance with all other terms of this extension, we will pay to the insured the daily rate shown in the schedule from the date cover under this extension begins to the date cover under this extension ends. The most we will pay under this extension for any one event is the limit shown in the schedule. D. Portable Electronic Devices We will pay the reasonable replacement cost of other property of the insured specified in the schedule. The most we will pay under this extension for any one event is the limit shown in the Limits and Excesses section. The excess as shown on the schedule will apply to each claim, including theft. E. Taxi Coverage Section 1 of this policy is extended to cover an insured vehicle used as a taxi by the lawful holder of a licence to do so as follows: 1. De – installation / Re – installation: If the insured vehicle is a total loss, we will contribute to the de-installation / re-installation costs associated with loss to LPG, CNG units, in-vehicle cameras, meters and the like. The most we will pay under this clause of this extension for any one event is the limit shown in the Limits and Excesses section. 2. Employee and passenger effects: We will cover loss to passenger’s baggage and employees’ personal effects if the loss occurs during the taxi driver’s paid shift period and the items are not covered under any other insurance policy. This extension applies only to an insured vehicle stated in the schedule as being subject to this extension. The most we will pay under this clause of this extension for any one event is the limit shown in the Limits and Excesses section. F. Total Loss Signwriting Section 1 of this policy is extended to cover the reasonable cost incurred by the insured to replicate on any replacement vehicle, any signwriting, vehicle wraps and artwork that were affixed to the insured vehicle at the time of the loss, in the event of a total loss covered under Section 1. This extension applies only to an insured vehicle stated in the schedule as being subject to this extension. The most we will pay under this extension for each insured vehicle is the ‘Total Loss Signwriting’ amount stated on the schedule. Section 2: Liability Cover A. Legal Liability Cover We will indemnify the insured for legal liability arising from: 1. Accidental bodily injury, or 16 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 2. Accidental loss to any property, occurring during the period of insurance, caused by or through or in connection with their use of an insured vehicle in New Zealand. B. Litigation Defence Costs We will indemnify the insured for legal defence costs and expenses necessarily and reasonably incurred to defend any civil proceeding (or threat of civil proceeding) brought against the insured, in relation to an alleged liability that, if proven, would be covered under ‘Section 2: Legal Liability Cover’. We will meet these costs and expenses even if the civil proceeding seems groundless. C. Legal Liability Of Other Users Of An Insured Vehicle We will cover the legal liability and litigation defence costs of any other person caused by or through or in connection with their use of an insured vehicle or a vehicle covered under Section 1: Automatic Extensions, ‘G – Employee’s Vehicles’, in the same manner as we cover the insured, provided: 1. Such use has the permission of the insured, and 2. Their liability is not covered by any other insurance, and 3. The person using the insured vehicle meets all the same terms of this policy that the insured must meet. Section 2: Exclusions The following exclusions apply to Section 2: Liability Cover, and Section 2: Automatic Extensions. IMPORTANT: Please also read GENERAL EXCLUSIONS that apply to all parts of this policy A. Airside Liability This policy does not insure liability arising out of the ownership, operation or maintenance of any vehicle within the restricted area of any airport used for scheduled commercial flights. B. Contractual Liability This policy does not insure liability arising out of a contract or agreement unless the insured would have been liable even without such contract or agreement. C. Criminal Offences This policy does not insure any legal defence costs, fines or court costs arising from the prosecution of any offence under any Act of Parliament including any Regulations, Rules or By-Laws made under any Act of Parliament. Note: Please see Section 2: Automatic Extensions, ‘B. – Criminal Court Action/Inquiries/Inquests’. D. Drivers This policy does not insure any liability of any driver, including the insured, for or arising from: 1. Bodily injury to, or 2. loss to any property owned by, that driver, and/or insured who claims under Section 2 of this policy. E. Exemplary Damages 17 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 This policy does not insure liability for punitive or exemplary damages. Note: Please see Section 2: Automatic Extensions, ‘C – Exemplary Damages’. F. Liability Determined By Foreign Court This policy does not insure liability determined by any court outside New Zealand. G. Operation Of Plant Or Machinery This policy does not insure liability arising out of the operation of any mechanical plant component while it is being used for the purpose for which it was designed (e.g. the operation of a crane or back hoe). This exclusion does not apply to the operation of any vehicle mounted crane whilst being used to load or unload to or from that vehicle, or of any fork hoist. H. Property Owned, In Care, Custody Or Control This policy does not insure liability for loss to property that belongs to, or is, or was in the care, custody or control of the insured, other than: 1. personal baggage and wearing apparel of any passenger, or 2. a building leased or rented by the insured, or 3. a vehicle (which is not insured under Section 1 of this policy or owned by the insured), which is being towed by an insured vehicle. However, this does not apply to vehicles which are towed or recovered for reward where the insured’s business includes a vehicle recovery service. I. Transporting Of A Load This policy does not insure liability arising from the transporting of a load to, or away from, the insured vehicle. However, this exclusion does not apply to the actual loading or unloading of the insured vehicle. J. Vehicles This section does not insure liability for loss to any vehicle that is insured under this policy. K. Vibration Or Weight This policy does not insure liability for loss to any property (including roads) arising from: 1. vibration caused by the insured vehicle, or 2. the weight of the load carried by the insured vehicle, or 3. the weight of the insured vehicle, or 4. the combined weight of the load and the insured vehicle. Note: Please see Section 2: Automatic Extensions, ‘K – Vibration or Weight Damage Section 2: Basis of Settlement A. Maximum Amount Payable The most we will pay in total for any event: 1. for legal liability is the sum insured for Section 2 ‘Legal Liability Cover’ stated in the Limits and Excesses section. 2. for legal defence costs and expenses is the sum insured for Section 2 ‘Litigation Defence Costs’ stated in the Limits and Excesses section. 18 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 If our maximum amount payable is insufficient to cover both the insured and any other party entitled to cover under Section 2, it will apply first to the insured named in the schedule. B. Excess The excess shown in the schedule applies to any claim under Section 2. C. Sub Limits The most we will pay under any automatic or optional extension is: 1. the limit shown in the Limits and Excesses section, or 2. the amount specified in the schedule, whichever is the higher. Section 2: Automatic Extensions In addition to the cover under ‘Section 2: Legal Liability Cover’, we also provide the following automatic extensions. A. Clean Up Costs Section 2 is extended to cover all costs lawfully charged by any local government body or authority, the New Zealand Fire Service, or any other entity for cleaning or restoring the site of an accident covered under ‘Section 1: Cover For The Insured Vehicle’. There is no cover under this extension for costs arising from a Hazardous Substance Emergency. Note: Please see Section 2: Automatic Extensions, ‘E. – Hazardous Substance Emergency’. The most we will pay under this extension for any one event is the amount shown in the Limits and Excesses section. An additional excess as shown in the Limits and Excesses section for each event applies. B. Criminal Court Action / Inquiries / Inquests Section 2 is extended to cover legal costs and expenses necessarily and reasonably incurred to: 1. defend a charge of manslaughter, or dangerous driving causing death or careless driving causing death, and 2. for legal representation at any inquiry or coroner’s inquest related thereto, resulting from any person covered under Section 2 of this policy using a vehicle insured under this policy. The most we will pay under this automatic extension for any event is the amount stated in the Limits and Excesses section. Section 2: Exclusions ‘C. – Criminal Offences’ does not apply to this extension. C. Exemplary Damages Section 2 is extended to indemnify the insured against liability for punitive or exemplary damages arising from: 1. accidental bodily injury, or 2. accidental loss to any property, occurring during the period of insurance, caused by or through or in connection with their use of the insured vehicle in New Zealand, provided that there is no indemnity under this extension: a. arising from any dishonest, fraudulent or malicious act or omission by the insured or anyone acting on 19 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 behalf of the insured, or b. arising from any claim first notified to the insured but not notified to us within six months of that date. The most we will pay under this extension: i. for any one event is the amount shown in the Limits and Excesses section, and ii. in total for all claims during an annual period is the amount shown in the Limits and Excesses section. Section 2: Exclusions, ‘C – Exemplary Damages’ does not apply to this extension. In addition to any other policy excess, each claim will be subject to an excess of 10% of any sum for which the insured is found legally liable. However, a minimum excess as shown in the Limits and Excesses section applies to each claim. D. Financial Charge Section 2 is extended to cover the balance of any outstanding charge on an insured vehicle where: 1. the insured vehicle is purchased during the period of insurance, and 2. the insured vehicle suffers loss which is covered under Section 1 of the policy, and 3. the insured has made proper enquiries in relation to the existence of any charge before making the purchase, and 4. the insured is liable to pay the outstanding charge. The most we will pay under this extension for any one insured vehicle is the amount shown in the Limits and Excesses section. E. Hazardous Substance Emergency Section 2 is extended to cover any charge the New Zealand Fire Service is authorised to impose on the insured, for their attendance at a hazardous substance emergency arising from the use of a vehicle. The most we will pay under this extension for any event is the amount shown in the Limits and Excesses section. F. Hired And Rented Vehicles If the insured hires or rents a vehicle during the period of insurance and accepts the rental vehicle owner’s statutory offer of insurance, this extension covers: 1. liability to third parties as provided under ‘Section 2: Liability Cover’ and ‘Section 2: Automatic Extensions’, but only for the difference between the amount payable for liability under the statutory offer of insurance, and the maximum amount payable under ‘Section 2: Legal Liability Cover’, and 2. the difference between the Section 1 excess under this policy and any deductible applicable under the rental vehicle owner’s insurance, for any event. Section 2: Exclusions, ‘H – Property Owned, In Care, Custody or Control’, General Exclusions, ‘H – Rented Vehicles’, and General Conditions, How We Administer This Policy, ‘Other Insurance’, do not apply to this extension. G. Hired And Rented Vehicles – Consequential Loss If the insured hires or rents a vehicle during the period of insurance and rejects the rental vehicle owner’s statutory offer of insurance, this extension covers the insured’s liability to the owner of that vehicle for consequential losses caused by loss covered under Section 1. The most we will pay under this extension for any event is the limit shown in the Limits and Excesses Section. H. Marine Liability 20 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Section 2 is extended to cover general average and salvage charges that the insured is liable to meet as a result of the insured vehicle being carried by ship between places in New Zealand during the period of insurance. I. Movement Of Other Vehicles Section 2 is extended to cover the insured’s liability for: 1. accidental bodily injury to any person, or 2. accidental loss to any property, occurring in New Zealand during the period of insurance and arising from the movement by the insured of any vehicle which: a. is parked in a position which prevents or impedes the loading or unloading of the insured vehicle, or b. prevents or impedes the legitimate passage of the insured vehicle. Section 2: Exclusions, ‘H. – Property Owned, In Care, Custody or Control’ does not apply to the vehicle being moved. J. Principal’s Indemnity Section 2 is extended to indemnify the principal of any construction or works project for their vicarious liability: 1. where the liability arises in connection with the use by the insured of an insured vehicle on that project, for which the insured is legally liable; and 2. the liability is for accidental loss to property or accidental bodily injury occurring in New Zealand during the period of insurance. K. Vibration Or Weight Damage Section 2 is extended to indemnify the insured against liability for loss to any property (including roads) during the period of insurance caused by: 1. the weight of the load carried by the insured vehicle, or 2. the weight of the insured vehicle, or 3. the combined weight of the load and the insured vehicle. The most we will pay under this extension for any one event is the amount shown in the Limits and Excesses section. An excess as shown in the Limits and Excesses section will apply to each event. Section 2: Exclusions, ‘K. – Vibration or Weight’ clauses 2, 3 and 4 do not apply to this extension. Automatic Policy Extensions Applicable to both Sections 1 and 2 These extensions automatically apply. A. Additions And Deletions 1. Additions Any vehicle purchased or leased by the insured during the period of insurance is an insured vehicle under this policy from the date of purchase or commencement of the lease. The maximum amount we will pay under ‘Section 1: Basis of Settlement’ for each purchased or leased vehicle covered under this extension is the amount shown in the Limits and Excesses section. Note: Cover in excess of the applicable limit may be available on request. 21 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 2. Deletions If an insured vehicle is sold or the lease ends during the period of insurance, it ceases to be an insured vehicle under this policy from the date of sale or the date the lease ends. 3. Premium adjustment a. The premium payable by the insured under this policy will be adjusted at the end of the period of insurance to reflect insured vehicles added or deleted under this extension during the period of insurance. b. We will apply the additions and deletions premium rate as agreed, to 50% of the difference in value between all additions and deletions, to calculate any additional premium to be paid to us by the insured, or any refund of premium we are to pay to the insured for that period of insurance, and the insured will pay any additional premium, or we will refund such sum. B. Breach Of Condition Where there is a breach of any condition of this policy, the insured will be covered, provided that: 1. The breach occurs without knowledge of any insured, and not reasonably expected to have known about it, and 2. We are advised as soon as any insured is aware of the breach of condition, and 3. The insured pays us any additional premium we require, and 4. We may apply reasonable terms and conditions to this policy. C. Invalidation This policy covers the insured for loss or liability that arises when an insured vehicle is used in any of the circumstances excluded in: 1. ‘General Exclusions, B – Alcohol, Drugs, and Other Intoxicating Substances’, 2. ‘General Exclusions, E – Excessive Loads’, 3. ‘General Exclusions, F – Intentional or Reckless Acts’, 4. ‘General Exclusions, K – Unlicensed Drivers’, 5. ‘General Exclusions, L – Unsafe Vehicles’, 6. ‘General Exclusions, N – Work Time Rules’, provided that: a. the driving in those excluded circumstances was without the knowledge of the insured, and were not reasonably expected to have known, and b. the insured has not waived any right of recovery against the driver, and c. the insured cooperates fully with us and the police in pursuit of reparation from the driver. The liability of the driver or the person responsible for the loss or liability is not insured under this extension. For the purposes of this extension only, the knowledge of the insured is deemed to include the knowledge of: i. any person employed by the insured with the authority of the insured to control the conduct of the driver of the vehicle concerned, or ii. the driver, if the driver is of such senior position within the business of the insured that his/her knowledge is by law deemed to be the knowledge of the insured. 22 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Optional Policy Extensions Applicable to both Sections 1 and 2 These extensions are optional and only apply when stated in the schedule. A. Burning Cost The premium payable under this policy shall be adjusted on claim costs incurred (claim costs paid plus outstanding estimates) during the period of insurance. This will be calculated as follows: 1. 30 days after the end of the period of insurance the total premium shall be adjusted by dividing the claims cost incurred by the multiplier as agreed in the schedule. 2. If the premium produced is greater than the total premium paid the insured shall pay the difference but not exceeding the percentage of the deposit premium as agreed in the schedule. 3. If the premium produced is less than the total premium paid we shall refund the difference to a minimum retained premium of the agreed percentage in the schedule of the deposit premium. For the purposes of this extension, total premium shall mean deposit premium plus any additional or return premium adjustments processed during the period of insurance. B. Profit Share If, at the end of the period of insurance, the insured agrees to renew the insurance with us, we will adjust the premium paid for that period of insurance as follows: 1. 30 days after the end of the period of insurance the Net Premium will be totalled together with incurred claims costs as a result of accidents during the period of insurance, and 2. a loss ratio will be calculated by comparing the Net Premium to the total of Incurred claims costs, and 3. if this incurred claim loss ratio is more than 60%, no profit share is payable. If the Incurred Claim cost loss ratio is 60% or less, the amount of profit share will be calculated by using one of the following profit share percentages: Profit Share Percentage a. If the Incurred Claim costs ratio is 40% or less – 20% b. If the Incurred Claim costs ratio is between 40% and 50% - 15% c. If the Incurred Claim costs ratio is 50% or more but not greater than 60% - 10% If a profit share is payable, then it will be calculated by multiplying the profit share percentage against the sum of Net Premium less incurred claim costs. This adjustment is processed net of commission. For the purposes of this extension: ‘Net Premium’ will mean gross premium and any additional or return premium adjustment, less commission if applicable ‘Incurred Claim costs’ will mean the total amount of claims paid and reasonable estimates of claims yet to be paid, including fees, net of actual and estimated recoveries. 23 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 General Exclusions These exclusions apply to all parts of this policy. A. Accident Compensation Act This policy does not insure: 1. liability for bodily injury which is covered by the Accident Compensation Act 2001 (‘Act’), and 2. in particular, liability for bodily injury payable as reparation for any amounts which are covered by the Act, or would be covered but for: a. a failure by the victim of offending to correctly notify a claim to the Accident Compensation Corporation within the time required under the Act, b. the victim’s decision, for whatever reason, not to claim any amount he or she would be entitled to claim under the Act, c. a decision by the Accident Compensation Corporation to decline a claim or limit its liability in whole or in part and for any reason whatsoever. B. Alcohol, Drugs, And Other Intoxicating Substances This policy does not insure loss or liability when the insured vehicle is being used by any person, including the insured, who: 1. has a proportion of alcohol in their breath or blood that exceeds the legal limit, or 2. is under the influence of any other intoxicating substance or drug, or 3. fails or refuses to supply a breath or blood sample as required by law, or 4. fails or refuses to stop, or remain at the scene, following an accident (as required by law). This exclusion does not apply to any claim for loss arising from theft or illegal conversion of the insured vehicle. C. Confiscation This policy does not insure loss or liability in connection with confiscation, nationalisation, requisition or destruction of, or damage to property by order of government, public or local authority (unless the order is given to control any immediate and imminent threat of loss provided that the loss would be covered by this policy if it did occur). D. Electronic Data This policy does not insure loss or liability of any type in connection with: 1. loss of, alteration of, or damage to, or 2. a reduction in the functionality, availability or operation of, a computer system, hardware, programme, software, data, information repository, microchip, integrated circuit or similar device in computer equipment or non-computer equipment, whether the insured’s property or not, that do not in and of themselves constitute an event unless arising out of one or more of the following events: a. fire, lighting, explosion, or b. aircraft, or vehicle impact, falling objects, or c. windstorm, hail, tornado, cyclone, hurricane, earthquake, volcano, tsunami, flood, freeze, weight of snow. 24 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 E. Excessive Loads This policy does not insure loss or liability while any insured vehicle is: 1. loaded or operated contrary to the manufacturer’s recommended specifications, or 2. loaded or operated contrary to the law, or its ancillary plant or machinery being operated contrary to the law. This exclusion does not apply to any claim for loss arising from theft or illegal conversion of any insured vehicle. F. Intentional Or Reckless Acts This policy does not insure loss or liability arising from any intentional or reckless act or omission. G. Nuclear This policy does not insure any loss or liability in connection with: 1. ionising radiation or contamination by radioactivity from: a. any nuclear fuel, or b. any nuclear waste from the combustion or fission of nuclear fuel. 2. nuclear weapons material. H. Rented Vehicles This policy does not insure any vehicle hired or rented by the insured when the insured has purchased insurance offered by the rental vehicle hirer. Note: Please see Section 2: Automatic Extensions, ‘F – Hired and Rented Vehicles’. I. Seepage, Pollution And Contamination This policy does not insure loss or liability of any type in connection with seepage, pollution or contamination, unless sudden, unintended and unexpected, occurring during the period of insurance. The coverage under this policy is limited to costs and expenses reasonably and necessarily incurred to: 1. remove, store and/or dispose of debris or the decontamination, demolish, dismantle, dewater, shore up, prop, underpin or carry out other temporary repairs consequent upon damage which is covered by the policy and caused by an insured event. 2. demolish and remove any property belonging to the insured which is no longer useful for the purpose it was intended for, provided such demolition and removal is necessary for the purpose of the reinstatement or replacement. 3. clean up and remove pollutants from land confined to insured premises if the discharge, dispersal, seepage, migration, release or escape of the pollutants is caused by an insured event. J. Terrorism This policy does not insure loss, liability, prosecution or expense of any type in connection with an act of terrorism, including in connection with controlling, preventing, suppressing, retaliating against, or responding to an act of terrorism. K. Unlicensed Drivers This policy does not insure loss or liability when any insured vehicle is being used by a person who: 1. does not hold a driver’s license appropriate for the class or operation of the insured vehicle (or the insured vehicle’s components), unless the: a. driver has held, (and is not disqualified from holding or obtaining) and actually obtains, such a license without a further driving test, or 25 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 b. insured vehicle is being used for the purpose of teaching a learner to drive, and all the requirements of the law are being complied with, or 2. breaches any license conditions that apply when driving the insured vehicle or the insured vehicle’s components.. This exclusion does not apply to any claim for loss arising from theft or illegal conversion of the insured vehicle. L. Unsafe Vehicles This policy does not insure loss or liability if the insured vehicle is being used in an unsafe condition. This includes any condition: 1. which is contrary to any recommendation by the manufacturer of the insured vehicle, or 2. as a result of which the insured vehicle is not fit to deal with any peril likely to be encountered during the course of its operation, when the insured, or any driver was (or should have been) aware of that condition. This exclusion does not apply to any claim for loss arising from theft or illegal conversion of the insured vehicle. M. War This policy does not insure any loss or liability in connection with any of the following, including controlling, preventing or suppressing any of the following: war, invasion, act of foreign enemy, hostilities or warlike operations (whether war is declared or not), civil war, mutiny, rebellion, revolution, civil commotion assuming the proportions of or amounting to an uprising, insurrection, military or usurped power. N. Work Time Rules This policy does not insure loss or liability when any insured vehicle is being used in breach of any enactment or regulations relating to work time or logbook rules. This exclusion does not apply to any claim for loss arising from theft or illegal conversion of the insured vehicle. O. Sanctions This policy does not any insure any loss to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolution or the trade or economic sanctions, laws or regulation of New Zealand, Australia, the European Union, United Kingdom or United States of America. P. Cyber We will not pay for claims caused by, arising from, or in any way connected with any actual or suspected loss, damage, cost, expense or liability of whatsoever nature arising directly or indirectly caused by or contributed by, resulting from arising out of, or in connection with a Cyber Incident. Cyber Incident means any act, threat or hoax whether actual or perceived, authorised or unauthorised, or malicious, involving access to, use of or operation of any technological system, hardware, software, or communications system or electronic device installed or in any way connected to you, or your Insured vehicle or property. Q. Communicable Disease We will not pay for claims caused by, arising from, or in any way connected with any actual or suspected loss, damage, cost, expense, or liability of whatsoever nature arising directly or indirectly out of, caused by or contributed to by, resulting from, or in any way connected with an Infectious or Communicable Disease. For the purpose of this clause Infectious or Communicable Disease means any disease, sickness, or injury which can be transmitted whether airborne, by bodily fluid, or from any surface regardless of form. 26 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 R. Asbestos This policy does not apply to and does not cover any actual or alleged liability whatsoever for any claim or claims in respect of loss or losses directly or indirectly arising out of, resulting from, in consequence of, contributed to or aggravated by asbestos in whatever form or quantity. How to Claim A. What You Must Do If anything happens that may lead to a claim under this policy, the insured must: 1. do what they can to take care of the vehicle and to prevent any further loss, expense or liability, and 2. tell us as soon as possible by notifying our dedicated claims team below: P: 0800 785 400 E: Dual_Motor_Claims@hdi.global, and 3. notify the police as soon as possible if it is believed any loss was caused by an illegal act of a person other than a person covered by this policy, and 4. allow us to examine the vehicle before any permanent repairs are started, and 5. send to us as soon as possible anything received from anyone about a claim or possible claim against the insured or anyone else entitled to cover under this policy, and 6. give us any information or help that we ask for, and 7. consent to the insured’s personal information in connection with the claim being: a. disclosed to us, and 8. tell us immediately if the insured or anyone else entitled to cover under this policy are charged with any offence in connection with the use of an insured vehicle which resulted in loss of property or bodily injury to another person, and 9. Provide us with any reasonable assistance and information that we request in relation to the claim. This may mean giving written statements or documents to our representative or us. We may require you to go to Court to give evidence. B. What You Must Obtain Our Agreement To Do The insured and anyone else entitled to cover under this policy must obtain our agreement before they: 1. incur any expenses in connection with any claim under this policy, or 2. negotiate, pay, settle, admit or deny any claim made against the insured or anyone else entitled to cover under this policy, or 3. negotiate, make or agree any offer of amends to a victim of offending by any person covered by this policy, or 4. do anything that may prejudice our rights of recovery. C. Dishonesty If a claim is dishonest or fraudulent in any way, we may: 1. decline the claim, either in whole or in part, and/or 2. declare either this policy or all insurance the insured has with us to be of no effect and to no longer exist from the date of the dishonest or fraudulent act. 27 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 This is at our sole discretion. D. Things You Must Do After We Pay A Claim The insured and anyone else entitled to cover under this policy must: 1. tell us if any lost or stolen property which was part of the claim is found or recovered, and hand it over to us if we request it. 2. tell us if any person is ordered to make reparation to the insured for any loss or cost which is part of the claim, and reimburse us for that payment as soon as any reparation is received. E. Actions We May Take 1. Subrogation Once we have accepted any part of a claim under this policy, we may assume the insured’s or any other person entitled to cover under this policy’s legal right of recovery. If we initiate a recovery we will include any excess, and any other uninsured losses suffered. Where we do this, the insured (or other person entitled to cover) agree to pay their proportional share of the recovery costs, and subsequently the proceeds of the recovery will be shared on the same proportional basis, except that we will reimburse the excess first. The insured (or any other person entitled to cover) must fully co-operate with any recovery process. 2. Conduct of Defence We have the sole right to act in the name of the insured or any other person insured under this policy, and on their behalf to defend, negotiate, or settle any liability covered under ‘Section 2: Liability Cover’ as we see fit (this will be done at our expense). We may elect at any time to pay the maximum amount payable under this policy, or any lesser sum that the liability can be settled for. Once we have paid this (plus any defence costs and expenses covered by this policy and already incurred, but less any applicable excess) our responsibility to the insured or any other person covered under this policy is met in full. The lawyers we instruct to act on behalf of the insured or other person entitled to cover, are authorised by the insured or such other person, to disclose to us any information the lawyers receive in that capacity, including information they receive from the insured or other person. 3. Waiver of Subrogation (Group of Related Companies) Where the insured is a parent or subsidiary in a group of related companies, we waive any right of recovery it may have against any other company in the same group. A ‘group of related companies’ means a group of companies related to one another by virtue of such ownership. 4. Recoveries If an insured vehicle or any property we have paid a claim for is later found or recovered, the insured must tell us immediately and hand it over to us if we request it. We have the right to keep the insured vehicle and any property that we have paid a claim for under this policy, including any proceeds if it is sold. 5. Reparation If any person is ordered to make reparation to the insured for loss to an insured vehicle that we have paid a claim for under this policy, then they must tell us. Any payments received must first reimburse our claims payment up to the amount of any reparation received. 28 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 General Conditions Your Obligations 1. Breach of any Condition If: 1. the insured, or 2. any other person we insure under this policy, or 3. anyone acting on the insured’s behalf, breaches any of the conditions of this policy, we may: a. decline the claim either in whole or in part, and/or b. declare either this policy or all insurance the insured has with us to be unenforceable. This is at our sole discretion. 2. True Statements and Answers The application is the basis of this policy. True statements and answers must be given (whether by the insured or any other person) when the insured: 1. applies for this insurance, and/or 2. notifies us regarding any change in circumstances, and/or 3. makes a claim under this policy. 3. Reasonable Care The insured, and anyone using an insured vehicle, must take reasonable care at all times to avoid circumstances that could result in a claim. There is no cover if the insured is reckless or grossly irresponsible. 4. Complying with this Policy We will not pay any claim unless the insured, or any person who acts on their behalf, complies with this policy. This also applies to any other person who can claim under the policy. 5. Changes in Circumstances The insured must tell us immediately if there are any: 1. modifications to an insured vehicle, or 2. change in the use of an insured vehicle, or 3. material changes that might alter the nature of the risk insured or increase the chance of a claim under this policy. Information is ‘material’ where we would have made different decisions about either: a. accepting your insurance, or b. setting the terms of your insurance, if we had known that information. If in any doubt, notify us anyway. The ‘risk insured’ refers to both: a. the actual property or liabilities covered (known as physical hazard), and b. you or other persons covered by this policy (known as moral hazard). 29 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 6. Vehicle values All values of insured vehicles stated in the vehicle declaration must represent, as nearly as possible, their market value. Values such as book value, depreciated cost, written down value and residual value are not sufficient to comply with this policy condition. We may require the insured to provide vehicle declarations showing their book value, depreciated cost, written down value or residual value in the insured’s business records. How We Administer This Policy Cancellation BY THE INSURED The insured may cancel this policy at any time. If they do, we will refund any premium that is due based on the unused portion of the period of insurance. BY US We may cancel this policy by giving the insured notice in writing or by electronic means at their last known address. The policy will be cancelled from 4pm on the 30th day after the date of the notice. We will refund the insured any premium that is due based on the unused portion of the period of insurance. Change of Terms We may change the terms of this policy (including the excess) by giving the insured notice in writing or by electronic means at the last known address we have for the insured. The policy will be changed from 4pm on the 30th day after the date of the notice. Other Insurance The insured must tell us as soon as they know about any other insurance which covers an insured vehicle. This policy does not cover loss or liability at all if it is insured to any extent under any other insurance policy. We will not contribute towards any claim under any other insurance policy. Joint Insurance If this policy insures more than one person, then all persons are jointly insured. This means that a breach of this policy by any one person affects everyone’s ability to claim under this policy. We may choose to pay any claim in full to the person who is named first in the schedule, and this will meet all our obligations under this policy for that claim. Interests of Other Parties If we know of anyone who has a financial interest over an insured vehicle, we can pay them part or all of any claim proceeds. This payment goes towards meeting our obligations under the policy. However, anyone recorded as having a financial interest under this policy is not covered by it and has no right to make a claim. We are also authorised by the insured to disclose personal information about the insured to anyone who holds a financial interest in an insured vehicle. Total Loss If we pay a claim for an insured vehicle that we determine is a total loss: 1. that insured vehicle will become our property, and 2. that vehicle is no longer an insured vehicle under this policy, and 3. we will not give any refund of premium, and 4. in the event premium for the period of insurance is to be paid in instalments, any unpaid premium for the period of insurance is due immediately and may be deducted from any payment made by us. 30 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Laws And Acts That Govern This Policy 1. Governing Law and Jurisdiction The law of New Zealand applies to this policy and the New Zealand Courts have exclusive jurisdiction. 2. Legislation Changes Where this policy refers to any Act of Parliament, it also includes any sub-ordinate legislation made under it, and any subsequent or replacement Acts or Regulations. 3. Insurance Law Reform Acts The exclusions and conditions in this policy are subject to your rights under the Insurance Law Reform Acts 1977 and 1985. 4. Currency Any amount shown in this policy or the schedule is in New Zealand dollars. 5. Goods and Services Tax Where GST is recoverable by us under the Goods and Services Tax Act 1985: 1. all vehicle values specified in the vehicle declaration exclude GST, and 2. all limits and sub limits exclude GST, and 3. all excesses include GST, and 4. GST will be added, where applicable, to claim payments. Limits and Excesses The following limits and excesses apply, unless a different amount is shown in the schedule. Note: Please refer to the schedule for further applicable limits and excesses. Limit Excess Section 1: Basis Of Settlement B. Maximum Amount Payable 2. Hired, Rented, or Borrowed Vehicles $300,000 – Section 1: Automatic Extensions B. Claim Preparation Costs $5,000 $500 C. Completion of Journey Costs $10,000 – D. Damage Caused by an Uninsured Third Party $5,000 – E. Death by Accident $10,000 – F. Disability Modifications $5,000 – G. Employees’ Vehicles $100,000 – I. Funeral Expenses $5,000 – J. Goods in Transit $5,000 $100 31 DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 Limit Excess K. Hoists $5,000 $500 L. Keys and Locks: Per vehicle per event $10,000 $250 In total for all vehicles per event $20,000 $250 M. Load Recovery $10,000 – P. Repair Authorisation $1,000 – Q. Rewards $5,000 S. Theft – Hire of Alternative Vehicle $2,500 7 Days T. Tyre Damage $5,000 Section 1: Optional Extensions Minimum $250, or as D. Portable Electronic Devices As per schedule per schedule E. Taxi Coverage De-Installation / Reinstallation $2,500 – Employee and Passenger Effects $2,500 Section 2: Liability Cover A. Legal Liability Cover $10,000,000 B. Litigation Defence Costs $1,000,000 Section 2: Automatic Extensions A. Clean Up Costs $20,000 $500 B. Criminal Court Action / Inquiries / Inquests $10,000 C. Exemplary Damages 10% of any sum Per event $500,000 awarded, subject to a minimum of $5,000 In total for all events during an annual period $1,000,000 D. Financial Charge $5,000 E. Hazardous Substances Emergency $20,000 G. Hired and Rented Vehicles – Consequential Loss $50,000 K. Vibration or Weight Damage $500,000 $2,000 Automatic Extensions Applicable To Both Sections 1 And 2 A. Additions and Deletions $300,000 Helping you do more New Zealand | +64 9 973 0190 dualinsurance.com DUAL New Zealand Limited | Registered in New Zealand under Company Number 3232892DUAL New Zealand Commercial Motor Vehicle Policy Wording 08.23 v2 32 --- ## Delta Insurance — Delta NZ Commercial Motor Vehicle (April 2024) > _Markdown transcription of Delta Insurance Delta NZ Commercial Motor Vehicle (April 2024) policy wording, effective 2024-04-01. Source: https://deltainsurance.co.nz/hubfs/Documents%20-%20policy%20wordings/DELTA%20NZ_Commercial%20Motor%20Vehicle_Policy%20Wording_Policies%20Until%20011124_April%202024.pdf_ --- Commercial Motor Vehicle Policy wording 1 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Commercial Motor Vehicle Policy wording Contents Introduction ................................................................................................................................................................................................................................................................ 3 Our Promise To You .................................................................................................................................................................................................................................................. 3 Important Information ........................................................................................................................................................................................................................................... 3 Your Obligations Under This Policy .................................................................................................................................................................................................................. 4 Policy Cover Options ............................................................................................................................................................................................................................................... 4 Section 1: ........................................................................................................................................................................................................................................................................ 5 Cover For The Insured Vehicle........................................................................................................................................................................................................................................................................................................................ 5 Basis Of Settlement ..................................................................................................................................................................................................................................................................................................................................................... 5 Automatic Extensions ............................................................................................................................................................................................................................................................................................................................................... 6 Optional Extensions .................................................................................................................................................................................................................................................................................................................................................... 8 Exclusions................................................................................................................................................................................................................................................................................................................................................................................ 9 Section 2: ...................................................................................................................................................................................................................................................................... 10 Cover For Third Party Liability ........................................................................................................................................................................................................................................................................................................................ 10 Basis Of Settlement ................................................................................................................................................................................................................................................................................................................................................... 10 Automatic Extensions ............................................................................................................................................................................................................................................................................................................................................. 10 Optional Extensions ................................................................................................................................................................................................................................................................................................................................................... 12 Exclusions............................................................................................................................................................................................................................................................................................................................................................................... 12 Sections 1 and 2: ........................................................................................................................................................................................................................................................ 13 Automatic Extensions ..............................................................................................................................................................................................................................................................................................................................................13 Optional Extensions .................................................................................................................................................................................................................................................................................................................................................. 14 Exclusions.............................................................................................................................................................................................................................................................................................................................................................................. 14 Conditions ............................................................................................................................................................................................................................................................................................................................................................................ 16 Policy Conditions ......................................................................................................................................................................................................................................................................................................................................................... 16 Claims Conditions ....................................................................................................................................................................................................................................................................................................................................................... 17 Definitions For Sections 1 And 2 .................................................................................................................................................................................................................................................................................................................... 17 2 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Introduction Congratulations and thank You for choosing Delta Insurance for Your motor vehicles insurance protection. Your Commercial Motor Vehicle Policy consists of: 1. Your proposal form, 2. this Policy document, 3. the Policy Schedule, and 4. any endorsements or warranties added by Us to Your Policy. Our Promise To You In consideration of You paying the required premium set out in the Schedule, in reliance upon the contents of the proposal which are considered incorporated in the Policy and subject to the limits and sublimits of liability in the Schedule and the terms and conditions in this Policy , We will provide You with the cover set out in this Policy. Important Information Reading this Policy Words and phrases appearing in capital letters have the meaning defined in the list of definitions of the Policy. In addition:  the definitions apply to the plural and any derivatives of the words in capitals;  the headings are for descriptive purposes only;  “person” includes individuals, partnerships, bodies corporate, and associations. Where headings are used in this Policy, they are purely descriptive and not to be used for interpretation purposes. If any portion of the Policy is found to be invalid or unenforceable, the remainder shall remain in full force and effect. About the Insurers – Several Liability This insurance is underwritten by Certain Underwriters at Lloyd’s referred to as Us, Our or We. Delta Insurance New Zealand Limited is a Lloyd’s Coverholder. An underwriter is liable only for the proportion of liability it has underwritten. An underwriter is not jointly liable for the proportion of liability underwritten by any other underwriter. Nor is an underwriter otherwise responsible for any liability of any other underwriter that may underwrite this Policy. The proportion of liability under this Policy underwritten by an underwriter (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all members of the syndicate taken together) is shown in the Schedule. In the case of a Lloyd’s syndicate, each member of the syndicate (rather than the syndicate itself) is an insurer. Each member has underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable only for that member’s proportion. A member is not jointly liable for any other member’s proportion. Nor is any member otherwise responsible for any liability of any other insurer that may underwrite this contract. You can obtain further details of the syndicate numbers and the proportions of this insurance for which each of the Lloyd’s Underwriters is liable by requesting them from Us. The Fair Insurance Code Lloyd’s is a member of the Insurance Council of New Zealand, and is committed to comply with the Council’s Fair Insurance Code. For further information on the Code, please visit www.icnz.org.nz Complaints and Dispute Resolution process If you have any concerns or wish to make a complaint in relation to this policy, our services or your insurance claim, please let us know and we will attempt to resolve your concerns in accordance with our Internal Dispute Resolution procedure. Please contact Delta Insurance New Zealand Limited in the first instance: Complaints officer Delta Insurance New Zealand Limited complaints@deltainsurance.co.nz Auckland +64 9 300 3079 Level 22 48 Shortland Street Auckland Central Auckland 1010 PO Box 106 276 Auckland 1143 We will acknowledge receipt of your complaint within 5 business days and do our utmost to resolve the complaint to your satisfaction within 10 business days, unless we require further information in which case, we will agree an alternate time frame with you.. 3 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. If we cannot resolve your complaint to your satisfaction, you can escalate the matter to Lloyd’s General Representative in New Zealand: Lloyd’s General Representative in New Zealand Email: IDRNewZealand@lloyds.com Telephone: +64 4 472 7582 Post: PO Box 5639 Wellington New Zealand Following receipt of your complaint, you will be advised whether your dispute will be handled by the Complaints team at Lloyd’s Australia or the Lloyd’s Complaints team in the UK, or what other avenues are available to you.. A final decision will be provided to you within two months of the date on which you first made the complaint unless certain exceptions apply. If your complaint is not resolved in a manner satisfactory to you or we do not resolve your complaint within two months of originally receiving it, you may refer the matter to the Insurance and Financial Services Ombudsman (IFSO Scheme). IFSO Scheme can be contacted as follows: Telephone: 0800 888 202 or +64 4 499 7612 Email: info@ifso.nz or via their website www.ifso.nz . Post: PO Box 10-845 Wellington New Zealand Your complaint must be referred to IFSO Scheme within 3 months of the final decision, unless IFSO Scheme considers special circumstances apply. If your complaint is not eligible for consideration by IFSO Scheme, you may be referred to the Financial Ombudsman Service (UK) or you can seek independent legal advice. You can also access any other external dispute resolution or other options that may be available to you. Governing Law and Jurisdiction The law of New Zealand applies to this Policy and the New Zealand Courts have exclusive jurisdiction. Any summons, notice or process to be served upon Us for the purpose of instituting any legal proceedings against Us in connection with this Policy must be served upon: Lloyd’s General Representative in New Zealand Level 29 Plimmer Towers 2 – 6 Gilmer Terrace Wellington 6011 New Zealand Your Obligations Under This Policy Duty of Disclosure Before You take out insurance with Us, You or any party acting for You in placing this Policy, have a duty to tell Us of everything that You know, or could reasonably be expected to know, that may affect Our decision to insure You and on what terms. If You are not sure whether something is relevant You should inform Us anyway. You have the same duty to inform Us of those matters before You renew, extend, vary, or reinstate Your Policy. The duty applies until the Policy is entered into, or where relevant, renewed, extended, varied or reinstated. If You do not comply with Your duty of disclosure, We may:  refuse to pay all or part of Your claim;  cancel the Policy; or  cancel Your insurance from the start date of the Policy. After the Policy is entered into, ongoing disclosure obligations can apply. These are set out in the Conditions Section of the Policy. Policy Cover Options The Insured Vehicles will be covered as specified on Your Schedule for one of the following Cover Options. Full Cover All applicable cover under: Section 1: Cover for the Insured Vehicle Section 1: Automatic Extensions Section 1: Optional Extensions, where selected and noted in the Schedule Section 1: Exclusions Section 2: Cover for Third Party Liability Section 2: Automatic Extensions Section 2: Optional Extensions, where selected and noted in the Schedule Section 2: Exclusions Sections 1 and 2: Automatic Extensions Sections 1 and 2: Optional Extensions, where selected and noted in the Schedule 4 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Sections 1 and 2: Exclusions, and Sections 1 and 2: Conditions The Schedule Third Party, Fire and Theft Cover is provided under: Section 1: Cover for the Insured Vehicle limited to a Loss or Damage caused by fire, lightning, explosion, theft or illegal conversion Section 1: Exclusions Section 2: Cover for Third Party Liability Section 2: Automatic Extensions Section 2: Optional Extensions, where selected and noted in the Schedule Section 2: Exclusions Sections 1 and 2: Automatic Extensions Sections 1 and 2: Optional Extensions, where selected and noted in the Schedule Sections 1 and 2: Exclusions, and Sections 1 and 2: Conditions The Schedule Third Party Only Cover is provided under: Section 2: Cover for Third Party Liability Section 2: Automatic Extensions Section 2: Optional Extensions, where selected and noted in the Schedule Section 2: Exclusions Sections 1 and 2: Automatic Extensions (for Sections 2 only) Sections 1 and 2: Optional Extensions, where selected and noted in the Schedule (for Sections 2 only) Sections 1 and 2: Exclusions (for Sections 2 only), and Sections 1 and 2: Conditions. The Schedule Section 1: Cover For The Insured Vehicle When Cover Applies You are covered for Accidental Loss or Damage to an Insured Vehicle. Cover under this Policy only applies when an Insured Vehicle is being used:  for the Insured’s Business, or  for the Insured’s or Authorised Drivers’ private, social or domestic purposes. Section 1: Basis Of Settlement Unless specified otherwise, subject to any Excess We will at Our option indemnify the Insured as follows:  if We deem the Insured Vehicle economically repairable, We will, at Our option: – pay the reasonable cost of repairs to the Insured Vehicle to bring it back to its pre Accident condition; or – pay the cash equivalent of the reasonable cost of repairs to the Insured Vehicle to bring it back to its pre Accident condition; and – Pay for the portion of signwriting and wraps that has suffered Loss or Damage  if any component, Accessory or part of the Insured Vehicle is no longer manufactured at a reasonable cost, or locally available at a reasonable cost, Our settlement will not exceed the supplier’s or manufacturer’s list price. Where no such list price is available, the most We will pay will be the lesser of: – the last known list price in New Zealand; – the price of the part’s closest equivalent in New Zealand; or – the cost of manufacturing a new part.  if We consider the Insured Vehicle uneconomical to repair, We will at Our option: – replace it with a Vehicle of the same age, make and model and in similar condition; or 5 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. – pay the Market Value of the Insured Vehicle stated in the Vehicle Schedule or Declaration. Where Your Schedule shows an Agreed Value We will pay the value as specified in the Schedule. We shall not pay for any portion of the cost which results in the Insured Vehicle being in a better condition than it was before the Loss or Damage or any portion of the Insured Vehicle which did not suffer Loss or Damage due to the Event. The applicable Excess (as per the Schedule or any relevant Extension) together with any Excess payable under any Section 1: Automatic Extension or Section 1: Optional Extension will be deducted from the Loss claimed for each Event. The Excess will be cumulative where there is more than one Excess applicable and it is stated as such on the Schedule, including the under 25 years old Excess. The Excess shall be refunded for a No Fault claim unless specified in the Schedule or related extensions. Section 1: Automatic Extensions The following Automatic Extensions apply where there is a Claim accepted by Us under Section 1 - Cover for the Insured Vehicle for Accidental Loss or Damage to an Insured Vehicle. The Automatic extensions are in addition to the Sum Insured under the main insuring clause of Section 1. Any limit specified in the extension or the Sublimit section of this Policy is in addition to the Basis of Settlement but will not exceed the Sum Insured under Section 1 or Section 2. The most We will pay for an Event under any extension is the limit shown in the Sublimits and Excesses section in the Schedule subject to any applicable Excess. Authorised Drivers Personal Effects We will cover Accidental Loss or Damage to an Authorised Driver’s baggage and personal effects directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1. Claim Preparation Costs We will cover reasonable costs incurred by the Insured (excluding the Insured’s internal and usual administration costs) for having a claim prepared for Accidental Loss or Damage covered under Section 1 or proving that Loss or Damage is covered under Section 1 (excluding costs incurred in disputing any declined claim under this Policy or where any claim is declined by Us or withdrawn by You). Completion Of Journey Costs When the Insured’s journey cannot be completed for reasons directly arising out of Accidental Loss or Damage involving the Insured Vehicle covered under Section 1, We will cover the reasonable costs for:  hiring a similar Vehicle to complete the journey, or return the Insured or Authorised Driver to where the journey commenced from; and  returning the Insured Vehicle to its usual location following its repair, or the reasonable cost of recovering it in the Event of theft or conversion. Death By Accident In case of death of the Insured, Authorised Driver, or the Immediate Family of the Insured or the Authorised Driver, directly arising out of an Accident involving the Insured Vehicle for which Loss or Damage is covered under Section 1, We will pay the specified amount in the Schedule to the Insured. We will also pay the funeral expenses associated with the burial or cremation of said deceased, in excess of any amount payable by the Accident Compensation Corporation or any other insurer up to the specified amount in the Schedule. Diesel Exhaust Fluid If an Insured Vehicle has been Accidentally operated with Diesel Exhaust Fluid this Policy will cover the costs of repairs directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1, up to the amount shown on the Schedule. Disability Modifications If the Insured or Authorised Driver becomes permanently disabled due to Bodily Injury sustained directly arising out of an Accident involving the Insured Vehicle for which Loss or Damage is covered under Section 1, We will pay reasonable costs of any necessary Modifications to the Insured Vehicle, where the Modifications would enable that driver to legally drive the Insured Vehicle. This benefit is in excess of any amount payable by the Accident Compensation Corporation. Electric / Hybrid / Hydrogen Vehicle Cover If the Insured Vehicle is electric, hybrid, or hydrogen We will cover You for Loss or Damage directly caused by Accidental:  power surges to the vehicle battery;  faults in any charging equipment that is used to charge the Insured Vehicle;  faults in the refilling process of hydrogen; or  battery fire or explosion. Emergency Services We will pay the reasonable cost of New Zealand emergency services that are charged to You directly arising out of Loss or Damage covered under Section 1 and, requiring the attendance of the Fire Service, Police, Ambulance, or other regulatory or municipal authority directly arising from an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1. Expediting Expenses Subject to prior written agreement from Us this Policy is extended to cover reasonable additional costs of express freight and overtime to expedite repairs to the Insured Vehicle directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1. 6 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Family Expenses On Hospitalisation Where the Authorised Driver or a passenger of an Insured Vehicle requires hospitalisation directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1, We will pay reasonable expenses up to the maximum amount specified in the Schedule, for the reasonable costs of transport, accommodation, meals and related expenses (within New Zealand only) incurred by an Immediate family member to attend the hospital. The benefit under this extension is only payable where:  the Insured Vehicle was being used in connection with undertaking the Insured’s business; and  the Authorised Driver or passenger(s) was hospitalised more than 100km from his or her primary place of residence; Financial Charge We will cover the balance of any outstanding charge on an Insured Vehicle directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1 where:  the Insured Vehicle is covered under Additions and Deletions in the Period of Insurance,  the Insured has made proper enquires in relation to the existence of any charge before making the purchase, and  the Insured is liable to pay the outstanding charge. The most We will pay under this extension for any one Insured Vehicle is the amount shown in the Schedule. First Aid Kits We will cover the reasonable costs to replace or restock any first aid kits or equipment in the Insured Vehicle which was Lost or Damaged directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1. General Average Where an Insured Vehicle is being transported by sea within New Zealand and where the Insured Vehicle is part of a cargo at sea that is Lost or Damaged, any contribution to general average and salvage charges incurred by the Insured as a direct result is included when such maritime conditions apply, whether or not there has been a Loss or Damage to an Insured Vehicle. Property In Transit – Your Own Property We will pay for any Loss or Damage to the insured’s owned physical property directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1which were being carried in the Insured Vehicle and which were owned by You at the time of the Loss or Damage. This does not cover the personal property and effects of the driver. Incorrect Fuel Notwithstanding there is no claim under Section 1, where an Insured Vehicle has been accidentally operated with the incorrect fuel type (diesel in a petrol engine or petrol in a diesel engine) this Policy will cover the cost of repairs directly arising out of the operation with incorrect fuel. It is further agreed that fuel that is contaminated is not deemed to be incorrect fuel. Keys And Locks Notwithstanding that there is no claim under Section 1, if any key for the Insured Vehicle is lost or stolen by a third party during the Period of Insurance, We will cover the costs reasonably incurred to replace that key and any recoding required. Load Recovery We will cover the reasonable costs of recovering any load carried by an Insured Vehicle directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1, where, at the time of the Accident:  the Insured Vehicle was being used in the course of the Insured’s Business,  driven by an Authorised Driver, and  the load was lost while driving on a public road, and salvaging the load is reasonable in all the circumstances. Such costs will include reloading onto the Insured Vehicle where possible or transporting the load to the nearest place of safe storage. This extension excludes any fines or penalties incurred by the Insured. New Replacement Vehicle If an Insured Vehicle suffers a “Total Loss” directly arising out of an Accident covered under this Section 1, and within 12 months of it being first registered as a new Vehicle in New Zealand or where it has travelled less than 50,000km, , and it is a car, station wagon, utility, van or SUV Vehicle, under 3,500kgs We will replace it with one of the same make, model and specification, subject to local availability. If the Insured elects not to have the Insured Vehicle replaced in accordance with this extension, We will indemnify the Insured in accordance with Section 1: Basis of Settlement clause above. Premium Credit Where an Insured’s Vehicle is declared a Total Loss by Us and directly arising out of an Accident to an Insured Vehicle covered under this Section 1and You subsequently insure Your replacement Vehicle with Us, We will credit the unused premium under the cancelled Insured Vehicle against the premium due for Your replacement Vehicle, provided You were No Fault for the Accident that was the cause of the Total Loss. Psychological Counselling We will pay reasonable costs incurred by You or the Authorised Driver for professional counselling directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1. This extension does not cover any costs covered by any government scheme or private health insurance or that We are not permitted by law to provide. 7 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Recovery Costs If an Insured Vehicle is stolen and subsequently recovered and it suffers Loss or Damage covered under Section 1, We will pay reasonable costs of returning it to Your place of business. This extension does not apply if the Salvage and Safety extension applies. Repair Authority Where there is a claim accepted by Us under Section 1 the Insured may authorise reasonable repairs to an Insured Vehicle, directly arising out of an Accident involving the Insured Vehicle that results in Loss or Damage covered under this Section 1, for the purposes of getting the Insured Vehicle to its destination or repairer without prior notice to Us. The most We will pay under this extension for any one Event is the limit shown in the Sublimits and Excesses section for this extension. If the estimated repair costs exceed this limit, repairs must not be commenced without Our prior written consent or the assessor’s prior written consent and We or the assessor must be provided with reasonable access to inspect the Insured Vehicle before any repairs. Salvage And Safety We will cover the reasonable costs incurred in salvaging or recovering the Insured Vehicle for a claim covered under Section 1, including ensuring its safety and delivery to a place of suitable repair or inspection. This extension does not apply if the Recovery Cost extension applies. Signwriting / Vehicle Wraps If an Insured Vehicle is repairable then We will pay reasonable costs incurred for repair or reinstating signwriting or Vehicle wraps, that were in place on the Vehicle before the Loss or Damage covered under Section 1. If the Insured Vehicle is a Total Loss We will pay the reasonable cost to have a replacement Vehicle sign written or wrapped to an equivalent standard required by Us, and We will pay to remove any of Your company identification signwriting from the Insured Vehicle before disposing of it as a result of a Total Loss. This extension does not cover any art work, licensing or other intellectual property charges or costs. Theft – Hire Of Alternative Vehicle If an Insured Vehicle suffers Loss or Damage directly arising from theft or illegal conversion covered under Section 1, then this Policy is extended to cover the reasonable costs of hiring another Vehicle of a similar make, model and specification, provided that:  cover under this extension begins 7 days from the date the Insured Vehicle was stolen/converted and notified to the police;  cover under this extension ends once: – the Insured Vehicle is recovered, repaired and returned to the Insured, or – We have settled the Insured’s claim under this Policy.  this extension does not cover the costs of maintenance or running costs of the hire Vehicle.  this extension does not apply in the Event the Loss of Use / Loss of Profit extension applies. Towing And Vehicle Retrieval Costs We will cover reasonable costs incurred for recovery, or removal of any Insured Vehicle following an Accident that has caused Loss or Damage covered under Section 1 to its usual location or the nearest suitable repairer and to re-deliver the Insured Vehicle to its usual location after repair. Windscreens And Window Glass This Policy is extended to cover Accidental Loss or Damage to windscreens, sunroofs, or window glass (including scratching or damage to bodywork resulting solely from broken glass) installed in the Insured Vehicle:  unless specified on the Schedule no Excess applies to the claim, and  if there was tinting or signwriting attached to the windscreens or window glass, We will cover the cost to have the tinting or signwriting repaired, however, We will not cover the costs associated with joining associated tinting, wraps or signwriting on other parts of the Insured Vehicle for which there was no Loss of Damage to those parts. Section 1: Optional Extensions If an Insured Vehicle suffers Loss or Damage covered under Section 1, these optional extensions only apply where specified in the Schedule for the Insured Vehicle. Any limit specified in the extension or the Sublimit section of this Policy is in addition to the Basis of Settlement but will not exceed the Sum Insured under Section 1 for the Policy or said Insured Vehicle. The most We will pay under any extension is the limit shown in the Sublimits and Excesses section in the Schedule and is subject to any applicable Excess. Loss Of Use / Loss Of Profit Following the acceptance of a claim payable under Section 1 of this Policy, for an Insured Vehicle that has this extension specified for its benefit in the Schedule We will reimburse You for reasonable costs to rent or hire a similar Vehicle as the Insured Vehicle. This benefit is payable up to the daily limit, and maximum any one Event loss limit as specified in the Schedule. Where the Insured Vehicle is used to generate revenue for Your business and a similar Vehicle cannot be hired, We will reimburse Your loss of profit directly arising from the Accidental Loss or Damage, subject to validation of the loss of profit, up to the daily limit, and maximum any one Event loss limit as specified in the Schedule. 8 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. The following conditions apply:  the loss of profit period will start from when the Insured Vehicle is delivered to the repairer to commence repairs or the date when the Insured Vehicle is determined to be a Total Loss, subject to the time excess specified in the Schedule, whichever is earlier;  the loss of profit period will end once repairs have been completed to the Insured Vehicle and it is available for Your collection or if a Total Loss the date when the Insured Vehicle has been replaced subject to validation that a replacement Vehicle has been ordered and is waiting for delivery, whichever is earlier; and  no reimbursement will be paid where You have access to a similar Vehicle at no cost or surplus Vehicle. This extension does not cover the running costs, the cost of insurance or expenses not included in the hire of the Vehicle. In the Event of theft, this extension only applies once the Theft – Hire of Alternative Vehicle extension has been exhausted for the claim, and only one Excess period shall apply. Section 1: Exclusions The following exclusions apply to Section 1: Cover For The Insured Vehicle, Section 1: Automatic Extensions, and Section 1: Optional Extensions. Accessories Notwithstanding the “write back” in the Vehicle Parts exclusion, this Policy does not cover Loss or Damage to any Accessories. Consequential Loss This Policy does not cover:  any Loss or Damage, costs or expenses that result from loss of use;  consequential loss including loss of profit; or,  depreciation or any loss in value, howsoever arising. Drilling Equipment This Policy does not cover Loss or Damage to any part or component of a drilling rig or machinery whilst being used for drilling below ground level. Vehicles Hired, Rented Or Lent Out This Policy does not cover Loss or Damage to any Insured Vehicle that has been hired, rented or lent out by the Insured, Authorised Driver or an employee. Vehicle Parts This Policy does not cover Loss or Damage to the following parts of an Insured Vehicle:  any and all engine and any and all engine parts, this includes any and all, cooling systems, including but not limited to radiators, heat exchangers,  cooling systems and their components, pressure caps, water pumps, thermostats and hoses,  hydraulic systems and their components, including but not limited to shock absorbers and suspension systems and their components,  transmission systems, including but not limited to gearbox, drive shafts, axles, differentials, clutches, and wheel hubs,  fuel systems,  braking systems,  electrical/electronic systems, computer systems, all software, and mechanical systems,  pumping and vacuuming systems,  any fixed plant machinery (including but not limited to food /drink preparation equipment), and  underground exploratory devices. However, this exclusion does not apply to any Loss or Damage to the Insured Vehicle as the direct result of an Accident caused by a:  fire,  impact or collision with an external object,  being partly or fully immersed in a body of water,  being stolen or converted,  being maliciously damaged,  hail, snow, storm or lightning,  impact by animals, and  natural disaster (the “write back”). Vehicles While Being Used This Policy does not cover Loss or Damage where any vehicle covered under this Policy is being used on a racetrack, or for pacemaking, speed tests, reliability trials, hill climbs, motorsport events or targas, rallies or while being used in preparation for any one of these activities. 9 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Wear And Tear This Policy does not cover Loss or Damage connected with:  wear and tear;  rust or corrosion; and/or  any failure of, or any defect in, design, specification, construction or materials of the Insured Vehicle. However, this exclusion is limited to the part of the vehicle immediately affected and does not apply to any resultant loss to any other part of that vehicle from a secondary event. Section 2: Cover For Third Party Liability We will indemnify You for Your legal liability to a third party due to an Event resulting in an:  Accidental Bodily Injury, or  Accidental Loss or Damage to any property directly caused by or in connection with the use of an Insured Vehicle. Cover under this Policy only applies when any Insured Vehicle is being used:  for the Insured’s Business, or  for the Insured or Authorised Drivers private, social or domestic purposes. Section 2: Basis Of Settlement Maximum Amount Payable The limit of Our liability for any one Event:  for legal liability is the limit for Section 2 ‘Third Party Liability’ as stated on Your Schedule; and  the reasonable legal defence costs up to the limit provided for in for Section 2 ‘Litigation Defence Costs’, as stated on Your Schedule and is included as part of the Sum Insured. Legal Liability Of Authorised Drivers We will indemnify an Authorised Driver for their legal liability directly caused by or in connection with their use of an Insured Vehicle or a vehicle covered under ‘Section 1 and 2: Optional Extensions, Employee’s Vehicles’, or Rental Vehicles as if it was an Insured Vehicle, subject to,  the vehicle being used with the knowledge and consent of the Insured; and  the vehicle being used to carry out the Insured’s Business; or the Authorised Drivers private, social or domestic purposes, and  their liability is not covered by any other insurance; and  all other policy conditions are met. Litigation Defence Costs We will pay reasonable defence costs necessarily and reasonably incurred with Our prior written consent, which is not to be unreasonably withheld, in relation to any claim against the Insured or Authorised Driver for which there is cover under Section 2 of this Policy. We may investigate, negotiate and settle any claim as We deem expedient; however, We shall not be obligated to pay any claim or judgment or to defend any suit after the limit of liability has been exhausted by payment of judgments or settlements. Section 2: Automatic Extensions The following Automatic Extensions apply in addition to cover under Section 2 – cover for third party liability of this Policy. Any limit specified in the extension or the Sublimit section of this Policy is in addition to the Basis of Settlement but will not exceed the maximum liability under Section 1 or Section 2. The most We will pay under any extension is the limit shown in the Sublimits and Excesses section in the Schedule subject to any applicable Excess. Airside Liability Notwithstanding the Airside Liability exclusion, this Policy will indemnify the Insured for any liability arising out of the operation of any Insured Vehicle within the restricted area of an aerodrome, provided the Insured Vehicle is entitled to operate in the area and has obtained any required permission to do so. Clean Up Costs We will indemnify the Insured’s liability for costs legally charged to it by any local government body or authority, or any other entity for cleaning the Accident scene as a result of Loss or Damage covered under Section 1. 10 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Electric / Hybrid / Hydrogen Vehicle Liability Cover If the Insured Vehicle is electric, hybrid, or hydrogen We will indemnify the Insured’s liability for Loss or Damage to third party property directly arising out of and caused by Loss or Damage:  power surges from the Insured Vehicle to any charging unit;  faults in charging equipment that is used to charge the Insured Vehicle;  faults in the refilling process of hydrogen for the Insured Vehicle; or  battery fire or explosion from the Insured Vehicle. Movement Of Other Vehicles We will indemnify the Insured’s liability arising directly from the movement of any third party Vehicle by the Insured or Authorised Driver occurring in New Zealand during the Period of Insurance that directly results in:  Accidental Bodily Injury or Accidental death to any person, or  Accidental Loss or Damage to any property and which: – is parked in a location which prevents or impedes the loading or unloading of the Insured Vehicle, or – prevents or impedes the passing of the Insured Vehicle. Punitive Or Exemplary Damages We will indemnify the Insured’s liability for Punitive or Exemplary Damages arising directly from the use of any Insured Vehicle by the Insured or an Authorised Driver in New Zealand during the Period of Insurance that directly results in  Accidental Bodily Injury or Accidental death, or  Accidental Loss or Damage to any property. However, there is no indemnity under this extension where the liability arises from or in connection with any dishonest, fraudulent or malicious act or omission by the Insured, an Authorised Driver or anyone acting on behalf of the Insured. There is no cover for Punitive or Exemplary Damages or fines that are not indemnifible by law. The most We will pay under this extension:  for any one Event is the amount shown in the Schedule, and  in total for all claims during the Period of Insurance is the amount shown in the Schedule. Reparations We will indemnify the Insured’s liability for Reparations payable by it under Section 32 of the Sentencing Act 2002 to a person as a result of the Insured committing an offence during the Period of Insurance directly arising out of the Insured’s use of an Insured Vehicle in New Zealand. Subject to:  You or the Authorised Driver notifying Us immediately of being charged with any offence in connection with the use of an Insured Vehicle that resulted in the Accidental Loss or Damage, Accidental death or Accidental Bodily Injury, and,  We must give prior written consent before any offer of reparation is made. There is no cover under this Extension for any amounts that would be payable under the Accident Compensation Act 2001 or any amendments to the same (“the Act”), or would be covered but for:  a failure by the victim to notify a claim to the Accident Compensation Corporation within the time required under the Act;  the victim’s decision, for whatever reason, not to claim any amount they would be entitled to under the Act;  a decision by the Accident Compensation Corporation to decline a claim or limit its liability in whole or in part and for any reason whatsoever. Substitute Vehicles If the Insured or Authorised Driver hires, rents or borrows a Substitute Vehicle during the Period of Insurance, subject to the Insured declining the Rental Vehicle owner’s statutory offer of insurance, this extension covers the Insured’s liability:  to the Vehicle owner for any Damage up to the limit specified in the Schedule; and  to third parties as provided under Section 2; and  for consequential loss caused by it arising out of Accidental Loss or Damage to the Substitute Vehicle up to the limit specified under the Sublimits and Excesses clause. This cover does not apply where the Vehicle is a Rental Vehicle. Vibration or Weight Notwithstanding the Vibration or Weight exclusion, this Policy is extended to cover liability for Loss or Damage to any property or Bodily Injury arising from:  vibration caused by the Insured Vehicle or its load, or  the weight of the load or the weight of the Insured Vehicle, or  the combined weight of the Insured Vehicle and its load. There is no cover where the weight of the Insured Vehicle and/or its load, or in combination, exceeds the recommended manufacturer’s weight limits for the Insured Vehicle. 11 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Section 2: Optional Extensions These optional extensions only apply where specified in the Schedule for that Insured Vehicle and where there is a claim accepted by Us for Loss or Damage under Section 2. Any limit specified in the extension or the Sublimit section of this Policy is in addition to the Basis of Settlement but will not exceed the maximum liability under Section 2. The most We will pay under any extension is the limit shown in the Sublimits and Excesses section in the Schedule subject to any applicable Excess. Property In Transit – Third Party Property We will pay for any Loss or Damage to directly arising from an Accident that are physical property:  owned by a third party, and  being carried in an Insured Vehicle under a delivery agreement between You and that third party at the time of the Loss or Damage. This extension does not cover the personal property and effects of the driver. Hired And Rented Vehicles If the Insured or Authorised Driver hires or rents a Rental Vehicle during the Period of Insurance from a third party, subject to the Insured declining the Rental Vehicle owner’s statutory offer of insurance, this extension covers:  liability to the Rental Vehicle owner for any damage up to the limit specified in the Schedule; and  liability to third parties as covered under Section 2; and  consequential loss caused by Accidental Loss or Damage to a Rental Vehicle. This is in excess of the Substitute Vehicle extension. Principal’s Indemnity We will indemnify the Insured’s vicarious liability for any construction works project:  where the liability arises in connection with the use by the Insured or Authorised Driver of an Insured Vehicle on that project where there is a supply contract between the Insured and that third party, and  the liability of the Insured or Authorised Driver of an Insured Vehicle for Accidental Loss or Damage to property or Accidental Bodily Injury or Accidental death by that third party. Section 2: Exclusions The following exclusions apply to Section 2: Cover for Third Party Liability, Section 2: Automatic Extensions and Section 2: Optional Extensions (if applicable). Airside Liability This Policy does not cover liability arising out of the ownership or operation of any Insured Vehicle within the restricted area of any aerodrome unless the Insured Vehicle is entitled to operate in the area and has obtained the required permission to do so. Contractual Liability This Policy does not cover liability arising out of a contract or agreement unless the Insured would have been liable at common law in New Zealand, in absence of the contract or agreement. Criminal Offences This Policy does not cover any legal defence costs, fines or court costs arising from the prosecution of any Criminal offence under any Act or Regulation or rules or by-laws made by an Act of Parliament. Drivers This Policy does not cover any liability for:  death or Bodily Injury to, or  Loss or Damage to any property owned by, any driver who has made a claim under Section 2 of the Policy. Punitive Or Exemplary Damages This Policy does not cover Your liability for Punitive or Exemplary Damages or fines. Liability Determined By A Court Outside New Zealand This Policy does not cover liability determined by any Court or tribunal outside New Zealand. Operation Of Plant Or Machinery This Policy does not cover any liability caused directly or indirectly while any Insured Vehicle or component of any Insured Vehicle is being used or operated as plant or machinery and not operating solely as a Vehicle. Property Owned, In Care, Custody Or Control This Policy does not insure liability for personal property owned by or in the care, custody or control of You or Authorised Driver or employee, other than cover provided under Authorised Drivers Personal Effects. 12 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Vibration Or Weight This Policy does not insure liability for Loss or Damage to any property or Bodily Injury arising from:  vibration caused by the Insured Vehicle or its load, or  the weight of the load or the weight of the Insured Vehicle, or  the combined weight of the Insured Vehicle and its load. There is no cover where the weight of the Insured Vehicle and/or its load, or in combination, exceeds the recommended manufacturer’s weight limits for the Insured Vehicle. Sections 1 and 2: Automatic Extensions The following extensions apply in addition to cover for a claim that is accepted by Us under Sections 1 and 2 of this Policy. Any limit specified in the extension or the Sublimit section of this Policy is in addition to the Basis of Settlement but will not exceed the maximum liability under Section 1 or Section 2. The most We will pay under any extension is the limit shown in the Sublimits and Excesses section in the Schedule subject to any applicable Excess. Additions And Deletions Additions Any Vehicle purchased or leased by the Insured during the current Period of Insurance is treated as an Insured Vehicle under this Policy from the date of purchase or start of the lease. The maximum amount We will pay during any Period of Insurance/for any one Event for all vehicles purchased or leased during the current Period of Insurance under ‘Section 1: Basis of Settlement’ is the amount shown in the Schedule. Any Insured Vehicle above the limit shown on the Schedule will be covered from the date covered from the date cover has been agreed by Us in writing. Deletions For any Insured Vehicle sold or lease ended during the Period of Insurance, cover stops under this Policy for that Insured Vehicle from the date of sale or end of lease. The premium adjustment, if any, will be pro-rated annual premium of any added or deleted Insured Vehicle. Autonomous vehicles This Policy indemnifies the Insured for Loss or Damage or legal liability that arises when the Insured is using an Insured Vehicle that has autonomous features or aids installed by the manufacturer of that Vehicle, provided that You are following all manufacturer’s and government or other regulatory body’s guidelines and requirements. Invalidation This Policy indemnifies the Insured for Loss or Damage or legal liability, that arises when an Insured Vehicle is used by an Authorised Driver, but not the Insured, where the following exclusions apply:  alcohol, drugs and other intoxicating substances  excessive loads  intentional, deliberate or reckless acts  unlicensed drivers  unsafe vehicles and unsafe use; and/or  worktime rules provided that:  the driving or the use of the Insured Vehicle in those excluded circumstances was without the knowledge of the Insured  where one of those exclusions applies due to the driving or acts of the Authorised Driver, but not the Insured, and  the Insured has not waived any right of recovery against the Authorised Driver, and  the Insured cooperates fully with Us and the police in any recovery action from the Authorised Driver. There is no cover for the Authorised Driver or the person responsible under this extension. For the purposes of this extension, the knowledge of the Insured is extended to include the any person employed by the Insured with the authority to control the conduct of the Authorised Drivers of the Insured Vehicle. This extension does not apply to the Employee Vehicle extension. 13 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Sections 1 And 2: Optional Extensions These Extensions are optional and only apply when stated in the Schedule. Any limit specified in the extension or the Sublimit section of this Policy is in addition to the Basis of Settlement but will not exceed the maximum liability under Section 1 or Section 2. The most We will pay under any extension is the limit shown in the Sublimits and Excesses section in the Schedule subject to any applicable Excess. Difference In Excess If during the Period of Insurance for any Rental Vehicle, Substitute Vehicle, hire or loan Vehicle in New Zealand subject to a written agreement; and You have accepted the Vehicle owner’s offer of insurance, if there is Accidental Loss or Damage or liability giving rise to a claim which would have been covered by this Policy to an Insured Vehicle, Substitute Vehicle or Rental Vehicle; and You are responsible for paying any Excess under the Vehicle owner’s insurance Policy, We will pay the difference in the Excess or the cost of repair of the damage, whichever is the lesser, up to the amount shown on the Schedule. If any Excess payable under that Policy is recovered from an at fault third party or its insurers or from the Vehicle owner, You must reimburse Us the excess. Employees’ Vehicles Section 1 is extended to cover vehicles owned by Your employees, provided that:  the Vehicle is used, at the time of the Accident or theft or conversion, for the Insured’s Business;  the employee has personal motor Vehicle insurance insuring the Vehicle that excludes any work-related use;  the employee complies with the terms and conditions of this Policy; and  the employee or Insured does not regularly use the Vehicle in the course of the Insured’s Business Rental Vehicles Subject to You declining the Rental Vehicle owner’s statutory offer of insurance, We will indemnify Your legal liability in New Zealand for Accidental Loss or Damage to any Rental Vehicle hired or loaned by You during the Period of Insurance in respect of:  Accidental Bodily Injury or Accidental death,  Accidental Loss or Damage to any property, or  consequential loss to the Rental Vehicle owner caused by an Accidental Loss or Damage, caused by or through connection with use of any Rental Vehicle being driven by the Insured or Authorised driver. This cover does not apply where the Vehicle is a Substitute Vehicle. Sections 1 And 2: Exclusions These exclusions apply to all parts and Extensions of this Policy. Accident Compensation Act This Policy does not insure:  liability for Bodily Injury that is covered by the Accident Compensation Act 2001 or any amendments (“the Act”), or  liability for Bodily Injury payable as reparation for any amounts that are covered by the Act, or any amounts that would be covered but for: – a failure by the injured person to correctly notify a claim to the Accident Compensation Corporation within the time required under the Act, – the Injured person’s decision not to claim any amount they would be entitled to claim under the Act, – a decision by the Accident Compensation Corporation to decline a claim or limit its liability for any reason whatsoever. Alcohol, Drugs, And Other Intoxicating Substances This Policy does not cover any person using the Insured Vehicle or any Vehicle covered by this Policy who, at the time of the Event:  was under the influence of alcohol, drugs or any other intoxicating substance;  had a blood or breath alcohol level or drug level is more than the legal limit;  who, after the Event, refuses to stop for police, or fails or refuses to take any tests to confirm alcohol or drug content when lawfully required to do so;  fails to provide Us with the information to confirm their breath alcohol level or drug level at the time of the Event. Confiscation There is no cover under this Policy for any Loss or Damage, or liability connected in any way with confiscation, destruction, acquisition, designation, or decision by government or local authorities. 14 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Excessive Loads This Policy does not cover Loss or Damage or liability for any Insured Vehicle, plant or machinery that is:  loaded or operated in excess to the manufacturer’s recommended specifications, or  illegally loaded or operated. Hire Liability Charges We will not cover any charges or costs payable by an Insured party, how so ever arising, to a credit hire or hire reimbursement company or liability for payment to a credit hire or hire reimbursement company, or for any liability for loss of use costs or reimbursements or substitute vehicles to any third party. Intentional, Deliberate Or Reckless Acts This Policy does not cover Loss or Damage, or liability arising from any intentional, deliberate or reckless acts or omissions by the Insured or an Authorised Driver. Modifications This Policy does not cover Loss or Damage to, or as a result of any Modifications unless such Modifications have been advised by You to Us and noted on the Schedule. Motor Insurance Cyber This Policy does not cover any Loss, theft, Damage, impairment, disablement or loss of use of a vehicle, or any legal liability arising from death, bodily injury or third party property damage, caused by:  the use of, or failure of, any application, software, or programme in connection with Your vehicle, including driver assistance, safety, security, infotainment or software updates whether authorised or unauthorised;  the use of, or failure of, any electronic device connected to Your vehicle (for example smartphones, tablets or smartwatches used for navigation, infotainment or any other purpose);  any computer virus, ransomware, code or software;  theft of, Loss of access to, or damage to, any telematic device or any electronic data (for example files, music or images) wherever it is stored;  any threat, deception or hoax relating to any of the above. Radioactive Contamination And Explosive Nuclear Assemblies This Policy does not cover:  Loss or destruction of or damage to any property whatsoever or any Loss or expense whatsoever resulting or arising therefrom or any consequential loss  Any legal liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from: – ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel; or – the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof. Sanctions This Policy does not cover any Loss for which We would:  be required to provide any cover; or  be liable to pay any claim or provide any benefit, under this Policy, to the extent that doing so would expose Us or the Underwriters to any legally enforceable sanction, prohibition, restriction, measure, ban or imposition under the laws or regulations of New Zealand, Australia, the United Kingdom, the European Union, the United States of America and/or the United Nations Resolutions. Terrorism Exclusion Notwithstanding any provision to the contrary within this Policy or an endorsement it is agreed that this Policy excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or Event contributing concurrently or in any other sequence to the loss. For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear. This endorsement also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism. If the Underwriters allege that by reason of this exclusion, any loss, damage, cost or expense is not covered by this insurance the burden of proving the contrary shall be upon the Insured. In the Event that any portion of this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect. Unlicensed Drivers Notwithstanding the Invalidation extension clause, this Policy does not cover Loss or Damage or liability when any Insured Vehicle is being used by a person who does not hold a valid New Zealand driver’s licence appropriate for the class or operation of the Insured Vehicle and the Insured Vehicle’s components and/or is not complying with the conditions of the license. Unsafe Vehicles And Unsafe Use Notwithstanding the Invalidation extension clause, this Policy does not cover Loss or Damage or liability if the Insured Vehicle is being used in an unsafe or unroadworthy condition including, but not limited to where the Vehicle is used on a race track, or for pace making, reliability trials, hill climbs or speed tests, or while being used in preparation for any one of these activities. 15 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. War Exclusion Notwithstanding anything to the contrary contained herein this Policy does not cover Loss or Damage directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority. Work Time Rules Notwithstanding the Invalidation extension clause this Policy does not cover Loss or Damage or liability to any Insured Vehicle where it is being used in breach of any work time or logbook rules or regulations. Section 1 And 2: Conditions Alteration of Risk The Insured must notify Us in writing as soon as practicable of any material alteration to the risk covered by this Policy that occurs during the Period of Insurance. This includes:  Modifications to an Insured Vehicle, or  change in the use of an Insured Vehicle, or  material changes that might alter or increase the chance of a claim under this Policy or where We would have made different decisions about either: – accepting Your insurance, or – deciding the terms of Your insurance, if We had known that information. The information relates to the Insured Vehicle, its use and the Insured or Authorised Driver. Breach of any Condition If the Insured, or Authorised Driver or anyone acting on the Insured’s behalf, breaches any conditions of this Policy, We may:  decline the claim either in whole or in part, and/or  declare either this Policy or all insurance the Insured has with Us to be unenforceable. Plant and Machinery Equipment It is a condition of this Policy for any Plant and Machinery, including but not limited to cranes, forklifts, excavators, lifting machinery/platforms, log haulers, skidders, rollers, graders, bull dozers that:  all persons operating such vehicles must be fully trained and qualified to operate the Plant and Machinery; and  all persons operating such vehicles must not operate the Vehicle beyond the manufacture’s specifications or recommendations; and  all persons operating such vehicles comply with all Health and Safety In Employment (Pressure Equipment, Cranes, And Passenger Ropeways) Regulations 1999 or any subsequent amendment. Reasonable Care Anyone using an Insured Vehicle, must take reasonable care at all times to avoid circumstances that could result in Loss or Damage, Bodily Injury, Loss or Damage to Property or a claim. Vehicle Values All values of Insured Vehicles stated in the Vehicle Schedule or Declaration must represent, as nearly as possible, their Market Value and are exclusive of GST. If an Insured Vehicle is Insured on the basis of an Agreed Value, a written valuation may be requested by Us or Underwriters. GST All amounts referred to in this Policy, and Your Schedule are exclusive of any Goods and Services Tax (GST). We will pay all claims in New Zealand currency inclusive of GST. Policy Conditions How We Administer This Policy Cancellation You may cancel this Policy at any time with immediate effect by notifying Us in writing. If You do, We will refund any premium that is due to You based on the unused portion of the Period of Insurance. You must pay any outstanding premium due for the used portion of the Period of Insurance. We may cancel or modify the Policy at any time by advising You (or Your broker or agent) by letter or email. Cancellation will take effect at 4pm on the 30th day after the date of Our letter or email. We will refund any premium that is due to You based on the unused portion of the Period of Insurance. Other Insurance This Policy does not cover Loss or Damage or business interruption loss if it is Insured to any extent under any other insurance Policy. We will only pay the amount of any Accidental Loss or Damage or consequential losses including loss of profit that is in excess of any amount recoverable under the other insurance Policy. 16 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Interests of Other Parties If We know of interests of other parties then We can pay them part or all of any claim proceeds. Any claim payment goes towards meeting Our obligations under the Policy to anyone who has a financial interest over an Insured Vehicle. Laws And Acts That Govern This Policy The law of New Zealand applies to this Policy and the New Zealand Courts have exclusive jurisdiction. Claims Conditions For any claim, or Event that may lead to a claim, the Insured and/or Authorised Driver must:  to the best of its ability take care of the Insured Vehicle and to minimise any loss, expense or liability, and  advise Us as soon as possible of the claim, and  for any Loss or Damage caused through a suspected illegal act notify the authorities such as New Zealand or Fire and Emergency as soon as possible, and  allow Us or Our agents to examine and assess the Insured Vehicle before any repairs are started, and  give all such information, co-operation and assistance, and forward all documents and any other information as requested to enable Us to investigate, settle or resist any claim, as We may reasonably require;  attend court in respect of any proceedings arsing from the Vehicle or liability that is the subject of the claim and provide sworn statements or affidavits in such proceedings; and  consent to the Insured’s or Authorised Drivers personal information in connection with the claim being provided to Us or Our agents;  advise Us if any Authorised Driver is charged with any offence in connection to the claim.  obtain Our agreement before You incur any cost or expense relating to a claim, and/or  not admit, deny, agree, or negotiate to any claim made against You or anyone else entitled to cover under this Policy, or  not do anything that may prejudice Our rights of recovery. Fraudulent Claims or Occurrences If the Insured shall give any notice to Us or Our agents or make any request in respect of any claim or occurrence, knowing such notice or request to be false or fraudulent as regards amount or otherwise, this Policy shall become void and all entitlements to any indemnity under this Policy shall be forfeited. As an alternative and at Our discretion, We shall also have the ability to choose to deny a claim. After We Pay A Claim Subrogation Once We have accepted any part of a claim under this Policy, We may assume the legal rights of the Insured (or any other person entitled to cover under this Policy) to pursue recovery for any loss paid under this Policy, including the Excess. Conduct of defence We have the sole right to act in the name of the Insured or any other person Insured under this Policy, and on their behalf to defend, negotiate or settle any liability covered under ‘Section 2: Third Party Liability’. Waiver of Subrogation (Group of Related Companies)  Where the Insured is a parent or subsidiary in a group of related companies, We waive any right of recovery You may have against any other company which is in the same group at the time of Loss, Damage or Event giving rise to the claim.  A ‘group of related companies’ means a group of companies related to one another by virtue of such ownership. Reparation You must tell Us of any payments received by the Insured or an Authorised Driver for Reparations for any loss or costs in respect of a claim under this Policy and they are to be paid to Us to Our sole benefit as soon as the payment is received. Total Loss If We pay a claim for an Insured Vehicle that We determine is a Total Loss:  We will retain ownership of that Insured Vehicle, and  that Insured Vehicle is no longer an Insured Vehicle under this Policy, and  We will not refund any premium, and where the premium for the Period of Insurance is to be paid in instalments, any unpaid premium for the Period of Insurance may be deducted from any settlement.  If the Insured Vehicle is stolen and later recovered, We will retain the ownership of that Insured Vehicle. Definitions For Sections 1 And 2 Accessory means a fitting or attachment that does not alter the performance, operation, characteristics of, or use of the Insured Vehicle. Accessories also include spare parts specific to the Insured Vehicle. Accessories must be used exclusively for the Insured Vehicle (including when temporarily removed). The value of all accessories must be included in the Sum Insured of the Insured Vehicle. Accessories do not include Vehicle wraps, signwriting or protectant films. Any items that are interchangeable between vehicles within Your fleet need to be noted as a separate item on the Vehicle Schedule. Also please refer to the Modifications clause. 17 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Accident or Accidental means sudden, unforeseen, unexpected, and unintended Event occurring in New Zealand during the Period of Insurance. Agreed Value means the amount specified on the Schedule. Authorised Driver means any driver operating the Insured Vehicle with the Insured’s prior consent. Bodily Injury means sickness, disease or infection, including death resulting therefrom, and shall include disability, shock, fright, mental anguish or mental injury if arising therefrom first arising during the Period of Insurance and not a pre-existing condition. Excess For Section 1, means the applicable Excess shown in the Schedule that will be deducted from the amount payable in respect of each Loss or Damage caused by an Event. Where an Event occurs over a period of more than 72 consecutive hours, one Excess will be deducted for every 72 consecutive hour period. For Section 2, You shall be liable for the Excess shown in the Schedule in respect of each Loss or Damage caused by an Event and We shall only be liable to cover You in excess of that amount. Where an Event occurs over a period of more than 72 consecutive hours, one Excess will be payable for every 72 consecutive hour period. Event means any occurrence or series of occurrences arising from one source or original cause within in 72-hour period. Immediate Family means legally related relations of Insured and Authorised Driver up to once removed, commonly known as parents, spouses, and minor children. Insured means:  the person(s) or entity/entities named in the Schedule;  any subsidiary company of the entity/entities named in the Schedule (of which more than half the nominal value of whose equity share capital is owned by the named entities either directly or through other subsidiaries);  any entity over which an Insured exercises management control; and  any associated social or sporting club conditional on the association being evidenced by a prior written agreement with the Insured. Insured’s Business means the business of the Insured specified in the Schedule. Insured Vehicle means  All vehicles specified on the Vehicle Schedule or Declaration, and  any other Vehicle, permanently acquired by the Insured during the Period of Insurance that will be covered under ‘Sections 1 and 2: Automatic Extensions – Additions and Deletions’;  any Accessories included in the Sum Insured  For Section 1 only, it means vehicles that by operation of Section 1 is an Employee Vehicles.  For Section 2 only, any vehicles that by operation of Section 2 is a Substitute Vehicle or a Rental Vehicle. Loss or Damage means physical Loss or physical Damage. Market Value means the sale price of the same or a comparable vehicle of similar make, model, age, mileage and condition pre-loss as the Insured Vehicle. The Market Value includes any legal Accessories or Modifications subject to the Policy and not Signwriting. Modifications means any change made to a Vehicle from the manufacturer’s standard specifications. This includes any performance upgrades or changes, or changes to an Insured Vehicle that alters the use of that Vehicle. The value of all Modifications must be included in the Sum Insured of the Insured Vehicle. No Fault means  a claim paid Section 1 where You are not at fault and there is: • theft by a third party; or • non-impact fire damage; or • other Loss or damage where a third party accepts liability and You provide the contact details of that third party to Us. Period of Insurance means the Period of Insurance cover from the inception date to the expiry date as specified on Your Policy Schedule, or if the Policy is cancelled, the date of cancellation. 18 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Policy means this Policy wording, the Schedule, Your proposal form and submissions and any endorsement attaching to and forming part of the Policy either at commencement or during the Period of Insurance. Punitive or Exemplary Damages means monetary compensation which is Punitive in nature or an Exemplary award of Damages that is ordered to be paid pursuant to a judgment, tribunal or settlement of any common law action brought, or capable of being brought, in a New Zealand court, including any compensation payable pursuant to any remedy, relief or penalty provided pursuant to any New Zealand statute, whether by way of Damages, fine, reparation or other order. Rental Vehicle means any Vehicle hired or loaned under the Insured’s name, additional to what has been declared on the Schedule, where the owner’s statutory offer of insurance was not accepted during use. Reparations means an amount ordered by a New Zealand Court to be paid to the victim of an offence under section 32 of the Sentencing Act 2002. Schedule means the most recent version of the Schedule issued for the relevant section of the Policy. Sublimit means the Sum Insured relating to specified extensions as shown in the Schedule. Any Sublimit shown on the Schedule is in addition to, the total Sum Insured for that Insured Vehicle shown on the Schedule unless noted as otherwise on the Schedule. Substitute Vehicle means any Vehicle hired or loaned under the Insured’s name, as a substitute for an Insured Vehicle that is temporarily not in use, where the owner’s statutory offer of insurance was not accepted during use. The Vehicle must be of similar make, model, and specification and capable of carrying out similar functions as the Insured Vehicle. Sum Insured means the sum stated in the Vehicle Schedule, subject to the Insured’s entitlement to sub-limits in addition under specified extensions, and representing Our aggregate liability under the Policy. Total Loss means an actual Total Loss, or if We determine the Insured Vehicle is uneconomic to repair. Vehicle means any type of machine on wheels, tracks or rollers designed to be used on land (but excluding rails or designed to be operated on rails) where its own power is the source of drive, and anything designed to be towed by such a machine. Vehicle Schedule or Declaration means the list of Insured Vehicles stating their values where applicable provided to Us by the Insured at the inception, renewal or endorsement to this Policy. We / Us / Our means Delta Insurance New Zealand Limited for and on behalf of Certain Underwriters at Lloyd’s as noted in the Schedule. You / Your means the Insured. 19 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. Embrace Change. Delta Insurance New Zealand Limited Level 22 48 Shortland Street Auckland Central Auckland 1010 20 of 20 Delta NZ CMV 0424 © Delta Insurance New Zealand Ltd. All rights reserved. ---