Page 69 - Hollard Private Portfolio - Version 3.5

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Hollard Private Portfolio – Version 3.5 – 7 May 2024
All Risks
For example: Your watch is covered under another insurance policy as a specified item and you pay a specific premium
for it. This means that you pay a premium that is based on the value of your watch. If your watch is stolen, we will not
pay for the watch under this policy. You must claim for the watch from the other insurance policy.
○ The item is insured as a specified item on this policy and as unspecified property on another policy: If an item
is insured as a specified item and you also have it covered as unspecified property with another insurer, then
you must claim from this policy and not from the other insurer because you pay a specific premium for it under
this policy.
For example: Your watch is covered under this policy as a specified item and you pay a specific premium for it. This
means that you pay a premium that is based on the value of your watch. If your watch is stolen, the other insurer will
not pay for the watch under their policy. You must claim for the watch from this policy.
○ The item is insured under both policies as specified items: If an item is insured as a specified item, and the
same item is also insured with another insurer as a specified item for which you pay a specific premium, then
the full amount of the claim will be split proportionally between the two policies. Please refer to the Dual
insurance clause in the Understanding your policy section for a full explanation of how this works.
○ The item is insured under both policies as unspecified property: If an item is insured as unspecified property,
and you also have it covered as unspecified property with another insurer, then the full amount of the claim will
be split proportionally between the two policies. Please refer to the Dual insurance clause in the Understanding
your policy section for a full explanation of how this works.
Pairs and sets
We will not pay more than the proportionate value of any article that is part of a pair or set. So if you lose one earring,
for example, we will pay out the value of only that one earring.
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 R2 000 for a lost watch, and the excess for that claim is R250, your net pay-out from us will
be R1 750.
What we cover you for
Accidental loss or damage worldwide
We cover you for a maximum of six consecutive months, for loss or damage to your insured property normally worn or
carried by you, or which often leaves your home, anywhere in the world, from any accidental cause that is not specifically
excluded in this section. Cover for loss or damage due to Power surge is subject to having selected Power surge cover
under the Household contents section.
In the case of specified property we even cover you for loss due to jamming of your remote control as set out hereunder.
Where is my insured property covered?
Your insured property (Unspecified and Specified) is covered while you are wearing it, carrying it or travelling
with it anywhere in the world. If, however, your property is not carried or worn by you, you must comply with the
requirements such as having it kept in a safe or taking reasonable steps to prevent loss or damage. Where the size
of the item allows, valuables should be taken on board of flights as hand luggage and locked in a safe when at your
accommodation unless we have agreed otherwise.
○ Unspecified property is only covered for loss or damage while they are away from your home.
○ Loss or damage while unspecified property is at your home will be covered under your Household contents
cover section as part of your household contents sum insured.
○ Specified property is covered for loss or damage while they are away or at your home.