Page 32 - Hollard Private Portfolio - Version 3.5

30 Hollard Private Portfolio – Version 3.5 – 7 May 2024
Buildings
You always pay the first amount, or excess
You will always have to pay the first part of any claim settlement. This is known as the excess, and is listed in your policy
schedule.
Example
If you successfully claim R20 000 for repairs to your swimming pool, and the excess for that claim is R1 000, the net
pay-out from us will be R19 000.
Matching materials or colours
When repairing a part of your building that is damaged, we will always try to restore it to its original state. However, this
will not always be possible, as colours cannot always be matched and the original material may no longer be available.
○ If we are not able to match materials or colours we will use materials or colours that are, in our opinion, the
closest match to the original.
○ This is strictly limited to the damaged part of the building only.
If you are not satisfied with the materials or colours we find as the closest match, then you can choose one of the
following options:
○ You can pay the extra cost of repairing or rebuilding undamaged parts of the building to achieve a uniform
appearance (if we agree).
○ We will pay you what it would have cost us to repair or rebuild the damaged part.
Rebuilding your damaged building
If your damaged building has to be rebuilt entirely, and you choose to do it personally, we will pay out for the cost of
rebuilding it. You can have it rebuilt on the same site, or elsewhere if you so choose. This is subject to the following
conditions:
○ rebuilding starts within six months
○ the total cost will not exceed the cost of bringing the building back to its original condition
○ we will not make any payment to you until you have actually incurred the costs
○ you must make satisfactory arrangements to pay your rateable share of the loss before rebuilding starts. As an
example, if you have to pay R50 000 as your portion of the damage as a result of being under-insured, you must
prove that you have the money available before work can go ahead.
What we cover you for
We cover you for loss or damage to your buildings caused by any of the following insured events, subject to the limits
and conditions listed below:
1. Fire
Fire, lightning or explosion
You are covered for building damage that is caused by fire, lightning or explosion.
2. Weather
Storm, wind, water, hail, etc.
You are covered for building damage that is caused by storms, as well as related activity such as wind, water,
hail, snow and flooding.
We do not cover loss or damage caused by changes in the water table (except as a result of a storm) causing
water to seep or run.
3. Earthquake
You are covered for building damage that is caused by an earthquake.