If the insured unit were carnapped or declared a total loss, could I insist on settlement based on the limit of liability under Section III-Loss and Damage?
In case of a total loss of the insured vehicle, the amount
of settlement shall be based on the fair market value of the unit at the time
of loss but not to exceed the limit of liability under the policy. If the fair
market value at the time of loss is less than the policy limit, the insurer
should only pay the amount equivalent to the estimated fair market value.