Page 29 - Hollard Private Portfolio

Buildings
Active soil means soil that changes in volume because of changes in the moisture content. For example, clay and other similar types of soil.
– Soil increases in volume when it gets wet (heaves or swells); or
– Soil decreases in volume when it gets dry (shrinks)
The buildings include:
○ outbuildings which include any other domestic buildings on the grounds of your home, such as offices, consulting rooms or sheds
○ landlord’s fixtures and fittings
○ water, sewerage, electricity and gas connections
○ paths and driveways constructed of brick, concrete, pavers, asphalt or stone (not gravel)
○ walls, gates and fences (excluding hedges)
○ swimming pools (excluding portable pools or those above ground level)
○ fixed filtration plant and water-pumping machinery (excluding automatic pool cleaners)
○ pool safety nets and covers
○ tennis courts, sauna and spa baths
○ water heating systems and their parts, such as electrical geysers, heat pumps and solar geysers (including solar panels, hot water tanks, stands and tubes)
○ photo-voltaic systems (commonly referred to as solar PV systems), inverters, batteries and fixed generators directly connected to the building’s wiring
○ fixed aerials, satellite dishes and masts.
Paying out after a claim
How much we pay
We pay out based on the reasonable repair cost of the part of your building that is damaged. If the damage to the building is uneconomical to repair the pay-out will be based on the replacement cost of the damaged part of the building.
Bank may be paid out before you
The financial institution financing your premises always has first claim on any pay-out to you, if this is the only way to settle any outstanding debt you still owe them.
This means that if you are financing your premises with a bank or authorised credit provider, be aware of the fact that they are entitled to use your insurance pay-out to settle any money that you still owe them.
In the event of your claim being rejected for breach of the terms and conditions of the policy, we will still pay the financial institution up to the amount owing to them in order to protect their interests.
Example
If your claim is for an old shower door which accidentally broke, we will replace it with a new door, even if the old door is worth a lot less.
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