Page 17 - Hollard Private Portfolio - Version 3.5

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Hollard Private Portfolio – Version 3.5 – 7 May 2024
Understanding your policy
Step 8: Sign an Agreement of Loss (AOL)
You may have to sign an AOL document which includes the settlement details of the claim before we finalise the claim.
If you don’t follow the claims steps
If the above steps are not followed, or you do not send us the information we ask for within the reasonable time we
gave you, we may reject your claim.
Be aware of your responsibilities on liability claims
○ Another person can hold you legally liable for bodily injury, death or damage to their property which was caused
by an accident that you are responsible for. This is referred to as a third party liability claim as explained under
the Personal liability, Motor and Pleasure-craft cover sections. You must tell us immediately after you become
aware of any action or possible action against you, for example, if you receive a summons from the court.
○ You must never do any of the following because it may affect your claim:
– Never admit guilt, fault, or liability, or incur any legal costs without first getting our permission.
– Never offer or negotiate to pay for the damage or the other person’s insurance excess.
○ Please read the section called Third party claims for a full explanation of how the liability claims process works
and what your responsibilities are.
You must help us with recoveries from third parties
○ After we have settled a claim, your rights to claim against the person (third party) that caused the loss or
damage to your insured property are automatically given to us.
– You may not claim directly from the third party, because you have already claimed from us.
– You must never admit guilt, offer to pay someone else, or accept an offer from anyone else to pay for
the damage, or to pay you for your excess.
– You must give us all the information and assistance that we need to claim from the third party.
○ If you don’t comply with the above, it may mean that we cannot claim back the amount of the loss or damage
from the third party. You may lose all benefits under this policy and you may need to pay back any payment or
benefit you received from us, plus any costs.
○ Please read the section called Third party claims for a full explanation of how the third party recoveries claims
process works and what your responsibilities are.
How we may settle your claim
We may choose how we settle your claim and we may choose to repair, replace or pay the amount of the claim, or a
combination of these methods.
○ This only applies to claims under the Buildings, Household contents and All Risks cover sections.
○ Please refer to the Motor and Pleasure-craft cover sections for additional information on how we settle claims
under these cover sections.
Replace or repair
If we replace or repair the insured property, we will apply the following principles:
○ We will choose the supplier or repairer and we will pay them directly.
○ If you have already done the repairs or replacement, we will refund you up to the amount that we would have
paid for the repair or replacement.
○ We may reuse existing materials.
○ If matching materials are not available, we will try and match the existing materials as closely as possible. If an
item needs to be replaced, we will replace it with an item that matches the specification of the damaged item
as closely as possible.