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66 Hollard Private Portfolio – Version 3.5 – 7 May 2024
All Risks
Key terms to understand
Unspecified property Clothing and personal effects that are either worn or carried with you, or which often
leave your home. These tend to be low-value items such as pens, make-up and handbags.
Unspecified property also includes sports equipment (except pedal cycles) and groceries.
Specified property Any item of property that is specifically listed in your policy schedule. These tend to be of
high value, and typically include jewellery, watches and personal computers.
Collectables This mean any item that is regarded as being of value or interest to a collector. For
example, firearms, stamps, coins and medal collections. We will pay up to the value set
out in a recognised catalogue or pricelist as at the date of the loss or damage, or as
determined by an independent specialist.
Computer Your computer, laptop or tablet, as well as any associated accessories for example a
monitor, keyboard, mouse, carrying case or printer. It includes any software supplied by
the manufacturer as part of the computer, and any programs or software for which you
have a legal licence, provided your sum insured is sufficient.
Home
○ The private residential building (main building) that is situated at the risk
address as shown in your policy schedule and used for domestic purposes (for
example a house, townhouse or flat).
○ Outbuildings, such as garages, storage rooms, garden sheds, Wendy houses,
Zozo huts, greenhouses, staff quarters, studios, consulting rooms, flatlets,
cottages or any other building that is not attached or connected to the main
building with an interleading door.
Paying out after a claim
How much we pay
We will pay out based on the replacement cost of any damaged or lost property.
For any claim under Unspecified Property, we will pay up to the limit, stated in your policy schedule, for any one item or
groceries. If you have chosen a sum insured of R10 000 and the limit is 25% we will pay up to R2 500 (25%) for any one
item or groceries. This pay-out will never exceed the amount in your policy schedule.
For any claim under Specified Property, we will pay up to the full value of the sum insured.
Take the time now to check your policy schedule for those items you have chosen to list under Specified Property. These
are the items that you will be able to claim for in full.
Example
Unspecified item
If you have lost a watch that costs R2 500 to replace, and your limit is R2 500 (25% of the sum insured of R10 000),
we will pay the full R2 500. If you lost groceries that cost R1 500, and your limit is R2 500 (25% of the sum insured of
R10 000) we will pay the full R1 500. This pay-out will never exceed the amount in your policy schedule.
Specified item
If you have lost a ring that costs R20 000 to replace, and it is insured for R20 000, we will pay the full R20 000. If the
ring is specified for only R16 000, we will pay only R16 000.
Dual insurance
If you have more than one insurance policy in place that covers the same item, the way we deal with a claim will depend
on whether the item is insured as a specified item or unspecified property:
○ The item is insured as unspecified property and as a specified item on another policy: If an item is insured
as unspecified, and the same item is also insured with another insurer as a specified item for which you pay
a specific premium, then you must claim from the other insurer. There is no cover under this policy in this
instance.