Under this Policy of Insurance the Company undertakes to compensate the insured in the event of accident caused by or arising out of the use of the motor vehicle subject to the limits specified in this policy, against all sums which the insured shall become legally liable to pay as compensation for:

•  Death or bodily injury to any person including the passengers in the  vehicles except the insured or the driver at the time of the accident and  their families spouse, parents and children and the employees of the  insured if they are injured during work hours or as a result of their work.
•  Damages for materials and property, except those owned by the insured  or the driver at the time of the accident or property held in trust or in  their custody or control.