Page 14 - Hollard Private Portfolio - Version 3.5

12 Hollard Private Portfolio – Version 3.5 – 7 May 2024
Understanding your policy
○ You must give us all material information, and tell us within 21 days from the date that any material information
changes. The most important changes you must tell us about are listed below, but there could be others:
– If your home is unoccupied for more than 60 consecutive days.
– If the security measures in your building changes.
– If the regular driver of your car or motorbike changes.
– Before alterations or renovations are made to your building.
– If your policy schedule details are no longer accurate, for example, you change your address or if you
purchase a new insured property.
– If you run a business from your home.
– If you are charged or convicted of a criminal offence.
– If another insurer declines to provide insurance, cancels or refuses to renew a life insurance or short-
term insurance policy for you, anyone living with you or anyone who is covered under this policy.
– If you start working again after you told us that you are retired.
The term ‘retired’ means that you are not actively working on a daily basis, you do not earn a regular income, and you
are not gainfully employed.
○ If any material information is incomplete or incorrect at any time, our decision was based on incorrect
information. This means we may not have agreed to cover or continue to cover your property on your current
premium, limits or conditions.
– We may cancel your cover from the date that you gave us incorrect information or from the date that
there was a change in the risk that you did not tell us about. If we cancel, you will lose your right to
claim and we will pay back all the premiums we have received after the date of cancellation, less any
claims we may have paid.
– If we do not cancel your cover, we may then apply special conditions, a reduced sum insured, a reduced
limit, an increase in premium or a higher excess.
You must be honest
All dealings about this policy must be done honestly and in good faith. If you are involved in fraudulent behaviour, we will
cancel your policy from the date of the fraud. You will lose your right to claim and we will not pay back any premiums we
have received. We may also take legal steps and to recover any expenses from you.
Example: Intentionally giving us false information to reduce your premium or exaggerating the amount of a claim.
You must maintain your property and prevent loss or damage
○ You must maintain your insured property and take all reasonable steps to prevent loss or damage and to
minimise the cost of a claim.
Example: You must make sure that the gutters of your home are cleaned regularly to prevent your home from being
flooded by overflowing gutters during a storm.
○ After an event, you must take reasonable steps to protect your property from further loss or damage.
Example: If a leaking pipe causes your home to flood, you have a responsibility to call in a plumber to turn off the flow
of water to prevent further flooding and damage to your property.
○ Do not leave keys to your home, vehicles or safes at an unsecure place, or with any person who does not share
your responsibility for your insured property.
○ You must prevent injury to other people and prevent damage to their property.