SELF-INSURED LOSSES - NPF-OWNED VEHICLES

COVERAGE

1. Vehicles covered are self-propelled land conveyances and automobiles required by law to be licensed that are owned or operated by or registered in the name of Non-Public Funds.

DEDUCTIBLE

2. Unit deductible rates for each occurrence of loss are outlined in paragraph 15 of this chapter.

LIMIT OF LIABILITY

3. The limit of liability is the actual cash value of the vehicle.

RISKS EXCLUDED

4. Risks excluded are:

1. damage to non-owned vehicles (see paragraph 1.c. of Annex C);

2. legal liability for bodily injuries or death and/or damage or loss to property of others arising out of ownership, use or operation of vehicle. (See Annex E for this coverage); and

3. damage to owned vehicles when leased to others or when carrying passengers for remuneration.

BASIS OF VALUATION

5. NPF owned vehicles are insured at their actual cash value at the location and on the date of any loss. (See Appendix 1).

CHANGES TO NPF INSURANCE RISKS

6. Procedures to be followed on the acquisition or disposition of a vehicle of any type are contained in Annex M.