Page 15 - Hollard Private Portfolio - Version 3.5

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Hollard Private Portfolio – Version 3.5 – 7 May 2024
Understanding your policy
You must have an insurable interest
In order for an insurance policy to be valid, you must have an insurable interest in all the insured property throughout
the period of insurance. Having an insurable interest in an item means that any loss or damage to the item will cause a
financial loss to you. If your insurable interest in your insured property changes, you must tell us.
Example: A parent does not have an insurable interest in their child’s vehicle if all of the following applies:
•
The vehicle is registered in the child’s name.
•
The vehicle is paid for by the child.
•
The child is not financially dependent on the parent.
Review your sums insured regularly
You are responsible for making sure that the sums insured are enough to cover your insurance needs so that you are not
underinsured. To cover your insured property fully, it is important to review the sums insured regularly.
You must keep to the terms and conditions
You, any person covered under this policy and the co-insured (if applicable), must comply with all the rules, terms,
conditions, your responsibilities and the claims process shown in your policy wording and policy schedule. Any exclusions
will also apply to the co-insured.
Obey the law
○ You must comply with the law at all times, including any by-laws and regulations relevant to your property. Do
not use your insured property in connection with any criminal offence. You must also obey the laws of other
countries when you are travelling.
○ We will not cover loss, damage or liability if you are involved in a criminal act. We may reject a claim and we
may ask you to pay back any benefits that we may have paid for that claim and any costs we may have incurred
relating to that claim.
You may not transfer your rights to another person
This policy does not give any rights to any person other than the policyholder or the co-insured (where applicable). You
may not transfer your rights to benefits payable under this policy to another person. If you try to transfer the rights to
any benefits in this policy to another person, we will not recognise that contract. We will continue our contract with you
as if you had not contracted with someone else.
Claiming under this policy
Introduction
This section tells you everything you need to know about how to claim under this policy.
○ However, because some cover sections have additional conditions or requirements that apply only to that cover
section, you should always read this section together with the cover section you are claiming under.
○ This section does not apply to the following cover sections – please refer to these cover sections for all the
information on claiming:
– Cyber insurance
– Legal costs
– Personal accident
– Personal liability
How to claim
Step 1: Inform the police within 24 hours
This is particularly important when property has been stolen, a motor accident has occurred, people have been injured
or died, or a criminal act is suspected. Take all reasonable steps to recover any stolen property and, where safe to do so,
find the guilty person.