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MSIG 120 01 13 <br />1. Any "auto" that is a land vehicle that would qualify under the definition of "mobile <br />equipment" under this policy or coverage part if it were not subject to a compulsory or <br />financial responsibility law or other motor vehicle insurance law where it is licensed or <br />principally garaged; <br />2. Any "auto" you lease, hire, rent, or borrow from any of your "employees ", partners (if you <br />are a partnership) members (if you are a limited liability company) or members of their <br />households; or <br />3. Any other "auto" leased, rented, hired, or borrowed: <br />a. For a period of more than 30 days; or <br />b. with a driver. <br />B. The most we will pay for any one "loss" will be the lesser of: <br />1. The actual cash value of the damaged or stolen "auto" as of the time of the "loss "; <br />2. The cost to repair or replace the damaged or stolen "auto" as of the time of the "loss "; or <br />3. $60,000. <br />C. Except that such amount will be reduced by a deductible as determined by sub - paragraph <br />7.E. below. <br />D. Subject to 7.6. above, the coverage we will provide will be: <br />1. Collision coverage if any covered "auto" owned by you has this coverage under this <br />coverage part or policy. <br />2. With respect to Other Than Collision coverage: <br />a. Comprehensive coverage if any covered "auto" owned by you has this coverage under <br />this coverage part or policy; or <br />b. Specified Causes of Loss coverage if any covered "auto" owned by you has this <br />coverage under this coverage part or policy. <br />E. Deductible <br />Our obligation to pay for, repair, return or replace such "auto" will be reduced by a deductible <br />for each coverage afforded under 7.C.1. and 7.C.2. above equal to the amount of the largest <br />deductible applicable for that coverage to any covered "auto" owned by you. However, no <br />deductible will apply to "loss" caused by fire or lightning. <br />F. Loss of Use Expenses <br />For any "auto" which is a covered "auto" under this extension Hired Auto Physical Damage <br />Coverage, we will also pay expenses for loss of use of such "auto" subject to the following <br />additional provisions: <br />1. Such "auto" is leased or rented under a written rental contract or agreement; <br />2. Such loss of use is a consequence of a covered "accident; <br />a. For which an "insured" is legally responsible; and <br />b. As a result of which the leasing or rental entity suffers a monetary loss. <br />3. The most we will pay for any expenses for loss of use is $350 per day, to a maximum of <br />$2,800. <br />4. With respect to the coverage afforded by this extension, Section III — Physical Damage <br />Coverage Extension 4.b. - Loss Of Use does not apply. <br />8. AIRBAG COVERAGE EXTENSION <br />SECTION III — PHYSICAL DAMAGE COVERAGE, B. Exclusions: the following is added to <br />Item 3.a. : <br />This exclusion does not apply to the unintended discharge of an airbag. However, airbag <br />coverage is excess over any other collectible insurance or warranty specifically designed to <br />provide coverage. <br />9. KNOWLEDGE OF ACCIDENT, CLAIM, SUIT OR LOSS <br />SECTION IV — BUSINESS AUTO CONDITIONS, A. 2. a. is deleted and replaced with the <br />following: <br />a. In the event of an "accident ", claim, "suit" or "loss ", you must give us or our authorized <br />representative prompt notice of the "accident' or "loss" only when the "accident', claim, "suit' or <br />"loss" is known to: <br />Includes copyrighted material of ISO Properties, Inc., with its permission Page 5 of 8 <br />