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H. H9 Ha Hb Hc Hd He Hf Hg Hh Hi Hj Hk Hl Hm Hn Ho Hp Hq Hr Hs Ht Hu Hv Hw Hx Hy Hz
Hia Hid Hie Hig Hij Hil Hip Hir His Hit

Hire or reward

In an English case decided by the learned judge DU PARCO hire or reward is explained as under: “It appears to me that a distinction falls to be drawn between the word ‘hire’ and he word ‘reward.’ The first word necessarily imports an obligation to pay. The inclusion of the second words in not in my opinion merely for the purpose of giving an alternative word to hire, which means the same thing, but for the purpose of bringing a subject matter which does not include hire and including (I do not say it is confined to that) cases where here is no obligation to pay.”

Hire Purchase Guarantee

The cover is in respect of articles sold by financing institutions on hire-purchase basis and the Insurance is against default by hires. The Insurer undertakes to indemnity the insured against a certain percentage of such net pecuniary loss as the insured may sustain by reason of the hirer and his guarantor failing to pay a part or whole of the amount due by the hirer to the insured under a hire-purchase agreement. Net pecuniary loss is to be regarded as the difference between the value of the article as mentioned in the relative hire-purchase agreement and the aggregate of any deposit and installments paid by the hirer and/or by the guarantor and the net sale proceeds of the article.

Hired Auto

Hired auto covers a vehicle the insured does not own, is not registered to the insured, and is rented or leased for less than 30 days. For example, if the insured runs a delivery service and needs rents an additional vehicle for the two weeks before Christmas, the hired auto coverage protects that vehicle. (See Business Auto Policy).
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A nonowned auto that may be borrowed as well as rented or leased by the insured. Personal auto policy insureds are covered automatically for hired autos, but business auto policy insureds may not be.

Hired automobile

Term used (“hired autos”) in the Insurance Services Office, Inc. (ISO), business auto, garage, and motor carrier coverage forms to denote a particular type of auto included as a covered auto under the policy. With certain exceptions, the term refers to autos the named insured leases, hires, rents, or borrows. As respects both the business auto and the garage policy, the term does not include any auto the named insured leases, hires, rents, or borrows from any of its employees, partners, limited liability members, or members of their households. As respects the motor carrier, the exception applies as respects private passenger type autos only.