Page 133 - Hollard - Private Portfolio Policy Wording

Pleasure-cra
Write-o a er ini al damage
If your pleasure-cra is damaged in an ini al event, and is then wri en o shortly a erwards in a subsequent event, we will cover only the cost of the write-o . In other words, we will replace it, but we won’t pay for the unrepaired damage sustained in the rst event.
You always pay the rst amount or excess
You will always have to pay the rst part of any claim se lement. This is known as the excess, and is listed in the excess Schedule.
Your bank may take part of your pay-out
If you are nancing your pleasure-cra with a bank or authorised credit provider, be aware of the fact that they are en tled to use your insurance pay-out for a write-o to se le any money that you s ll owe them, if they feel that this is the only way to recover the money. This is a standard clause in the contract that you signed with them when you purchased your pleasure-cra .
What is not covered
SPECIFIC EXCEPTIONS
Risks for your own expense
We do not cover you for loss or damage to your pleasure-cra that results from the following risks:
○ deprecia on, wear and tear, gradually opera ng causes
○ reduc on in value caused by repairs, lack of use or altera ons
○ loss or damage to motors, electrical machinery, ba eries and their connec ons, unless caused by other damage to the pleasure-cra , or there has been forced entry to or exit from the pleasure-cra or place of storage
○ mechanical, electrical or electronic breakdown, and failure or breakage, unless this is the result of other damage to the pleasure-cra
○ loss or damage arising from the fact that your pleasure-cra is not seaworthy, or hasn’t been maintained
○ loss or damage arising from the fact that your pleasure-cra was defec vely designed or constructed
○ loss or damage resul ng from the ac ons of domes c pets – for example, scratching, bi ng, chewing, tearing or soiling.
Pleasure-cra le una ended
There is no cover for loss or damage if the pleasure-cra is le una ended o an exposed beach or shoreline.
Unsecured motors
There is no cover for the of motors or if they fall overboard, unless they have been bolted or chained to the hull.
Example
If you successfully claim R10 000 for the repair of your pleasure-cra , and the excess for that claim is R1 000, your net pay-out from us will be R9 000.
Hollard Private Por olio 131