Page 11 - Hollard - Private Portfolio Policy Wording

Your responsibili es as the policyholder
Prevent/minimise loss or damage
You must take all reasonable steps to prevent loss or damage, death, bodily injury, liability and accidents and reduce the damage to your insured property a er an event, or we might not compensate you for any loss or damage. For example, if you have a leak in your pipes that causes ooding in your home, you have a responsibility to call in a plumber to turn o the ow of water to prevent further ooding; you cannot just leave things as they are.
Tell us if you wish to cancel the policy
You may cancel the policy at any me. If we wish to cancel the policy, however, we must give you 30 days’ wri en no ce.
If your policy is an annual one, we will have the right to keep a small por on of any premiums we are obliged to refund to you.
Tell us of any material changes
A material change is one that could a ect your risk pro le – for example, a move to a new address, a change in your nancial situa on, taking up a dangerous sport like hang-gliding or a change in the regular driver of your vehicle. You must tell us of any such changes, for they may a ect the level of your premiums, and other terms and condi ons.
You are allowed to request a change to the policy at any me. Please note that the changes you request may require us to amend the terms and condi ons of the policy.
We are allowed to request a change in the policy from you – for example, an upgrade of your alarm system – provided we give you 30 days in which to do it.
Avoid fraud
All dealings concerning this policy must be done honestly and in good faith. If you are found to have engaged in fraudulent or dishonest behaviour, you will lose all rights to claims and premiums and your policy will be cancelled from the date of the fraud. Moreover, we may take legal steps to recover damages from you.
Examples of fraudulent behaviour are:
○ providing false informa on in support of a claim or about your risk pro le
○ making a claim that you know to be false, fraudulent or exaggerated
○ obstruc ng the outcome of a legal ma er.
Observe all terms and condi ons
Terms and condi ons are basically the rules you have to s ck to in order for the policy to be valid – for example, paying your premiums on me or le ng us know if you have changed your residen al address.
Some condi ons are so strict that they are actually guarantees on your part – for example, that all jewellery must be kept locked away in a safe.
Make sure you understand all terms and condi ons; if you don’t, it may result in us refusing to pay you out for a claim.
Hollard Private Por olio 9