Page 146 - Hollard Private Portfolio - Version 3.5

144 Hollard Private Portfolio – Version 3.5 – 7 May 2024
Pleasure-craft
Transit cover
We will cover your pleasure-craft for loss or damage while it is being transported by sea, road, railway or air. This cover
includes damage during the loading and unloading of the pleasure-craft. Any vehicle used to transport or tow your
pleasure-craft by road must be designed for the towing and transporting of a pleasure-craft.
Trauma counselling
We will pay the benefit for prescribed professional counselling if you are the victim of a violent act of theft, attempted
theft, hold-up or hijacking.
This benefit does not provide the benefits of a medical scheme and is not a substitute for medical scheme membership.
Tow-and-assist
We will pay any reasonable costs incurred by you to tow and assist other pleasure-craft in distress, or to summon
emergency assistance. In all such cases, you must supply us with a copy of the official incident report to the relevant
authorities.
Towing and storage
If your pleasure-craft needs to be towed away, we will cover the cost of the towing to and storage at the nearest repairer,
in addition to the claim amount. The following conditions apply to this benefit:
○ Within South Africa – with our permission: If you call us and we arrange for your pleasure-craft to be towed,
we will cover the full cost of towing and storage.
○ Within South Africa – without our permission: If you arranged the towing yourself, without calling us first, the
cost of towing and storage, as well as the cost of recovering the wreckage of your pleasure-craft before towing,
will be limited to the amount shown in the policy schedule.
○ Outside South Africa: We will cover the cost of towing and storage up to the limit shown in the policy schedule
on the following conditions:
– The towing must be inside the coastal waters of one of the countries covered under this section.
– For more detail, please refer to How we handle claims in neighbouring countries in the How much
we cover section for more detail.
○ We will not cover any costs if we end up rejecting the claim after our assessment. If we have already paid for
the cost of towing and storage, you must pay back the amount that we have paid.
Additional cover you can choose
Paying off your pleasure-craft
If your pleasure-craft is a write-off and you are still paying it off, we will settle the amount still outstanding up to the
percentage of the sum insured stated in your policy schedule. The amount paid out is calculated as if your credit
agreement was an instalment agreement paid in equal instalments over a number of years plus the residual/balloon
amount.
It does not include:
○ any arrear instalments or rentals (payments you may have missed as part of your credit agreement), or any
interest still owing on them
○ any premium refunds or recoveries from any insurance policy.
Paying out after a claim
The full claims process and steps to follow are explained in the Claiming under this policy section under the Understanding
your policy section. Detailed here are extra conditions that specifically apply to your Pleasure-craft cover section.