If you have sundry vehicle cover under a rural policy, what is the applicable FENZ levy payable, as we do not always know all the vehicles that are covered by this, which is why the sundry limit is in place?
For example, say $15,000 sundry vehicle limit, anyone vehicle $5,000.
Is the FENZ $25 for the limit, or $75 (being 3 vehicles into limit) or something else?
If a fire policy has an automatic extension for Unspecified Rural Vehicles and the schedule does not specify them, then no levy is charged for this automatic extension, as they cannot be accurately identified as part of a total loss until the event has occurred (refer to definition of sum insured).
If they are insured items rather than an extension, or if they are specified in the schedule, then levy should be calculated on the number of vehicles at $25 per vehicle.
Levy can be based on the number of vehicles known and/or estimated to the best of the knowledge of the levy payer. Sum insured cannot be used to calculate levy if the insured items meet the definition.
FENZ levy is not usually revaluated at claim time unless the policy is being reassessed/changed.
