Page 42 - Hollard - Private Portfolio Policy Wording

Geyser – extended cover
Pay-out is limited to the amount stated in the Schedule.
We will pay for the replacement or repair cost of your damaged geyser, its parts and any concealed pipes caused by:
○ rust, decay, gradual deteriora on or wear and tear
○ cracking, spli ng, latent defects or faulty material and workmanship.
We will also pay for the resultant damage, such as replacing the damaged pipes and les. For the purposes of this cover, the General Excep on "Wear and tear" does not apply. We do not cover damage occurring in the rst year of installa on, or damage covered by any guarantee.
Subsidence and landslip – extended cover
Pay-out is limited to the sum insured stated in the Schedule.
You are covered for loss of or damage to the buildings caused by subsidence, landslip or heave of the land suppor ng it. However, you are not covered if this is caused by:
○ normal se lement, shrinkage or expansion of the buildings
○ structural altera ons, addi ons or repairs
○ the compac on of in ll
○ defec ve or faulty design, materials or workmanship
○ excava ons other than mining opera ons
○ removal or weakening of support to the buildings.
In addi on, we are not liable for loss or damage to sep c and conservancy tanks, or drains and water courses, unless the buildings are damaged at the same me by the same insured event. Any damage that existed before your policy started is not covered.
If required, you will have to prove that the loss or damage being claimed for was caused by subsidence, landslip or heave.
Buildings
Subsidence, landslip and heave
Subsidence means sinking – i.e. the ver cal, downward movement of soil. It includes se lement, which is a lateral movement.
Landslip means the sliding down of a mass of land. It is, in e ect, a small landslide, and it typically occurs on a slope. Heave means the upward movement of soil suppor ng the buildings.
40 Hollard Private Por olio