Page 132 - Hollard - Private Portfolio Policy Wording

Tow-and-assist
We will pay any reasonable costs incurred by you to tow and assist other pleasure-cra in distress, or to summon emergency assistance. In all such cases, you must supply us with a copy of the o cial incident report to the relevant authori es.
Waterskier’s liability
Your liability to third par es also includes liability arising out of people being towed by you and engaging in water sport such as skiing, aquaplaning, ki ng and paragliding.
Addi onal cover you can choose
Paying o your pleasure-cra
If your pleasure-cra is a write-o and you are s ll paying it o , we will se le the amount s ll outstanding up to the percentage of the sum insured stated in the Schedule. The amount paid out is calculated as if your credit agreement was an instalment agreement paid in equal instalments over a number of years plus the residual/balloon amount.
It does not include:
○ any arrear instalments or rentals (payments you may have missed as part of your credit agreement), or any interest s ll owing on them
○ any premium refunds or recoveries from any insurance policy. Paying out a er a claim
Do we x the pleasure-cra or get you a new one?
Once we have assessed your damaged pleasure-cra , we may repair it if it makes economic sense – or we may replace it. If it is to be repaired, we will decide on the repairer and port of repair.
If less than 5 years old
If your pleasure-cra is less than 5 years old, we may replace it with a similar model or pay you the purchase price of a new one. This also applies when it is a write-o , or has been stolen.
If more than 5 years old
If your pleasure-cra is more than 5 years old and cannot be repaired, we will pay you its reasonable market value. Quota ons from 2 quali ed pleasure-cra dealers will be used to determine the market value.
We will take the sum insured as the repaired value in order to determine whether it makes economic sense to repair the pleasure-cra . The sum insured will not be reduced by the damage or salvage value.
Sails, protec ve covers, etc.
We will pay you the reasonable market value for sails, protec ve covers, erected tackle, or outboard or inboard motors and ba eries. We may deduct up to 33% of the replacement value for be erment, as you are ge ng a new item in place of the used one.
Pleasure-cra
130 Hollard Private Por olio