Page 106 - Policy Wording - Hollard Prestige Portfolio

104 Hollard Prestige Portfolio – Version 1.5 – 19 June 2024
Section 8 – Motor vehicle
A. OWN DAMAGE
Specific definitions for this section
○ What we cover as your motor vehicle
Your motor vehicle is described in your schedule. Motor vehicle descriptions covered under this section is
explained in the table below:
Vehicle – full definition
Your vehicle includes all factory-fitted parts and accessories. It may be any one of the following:
○ a private car, minibus or similar vehicle designed to carry up to 12 people, including the driver
○ a station wagon, motorised caravan, 4x4 vehicle, 4x2 vehicle, or light delivery vehicle, with a gross vehicle mass
of no more than 3 500 kg
○ a vintage vehicle worthy of being a collectable which is more than 20 years old and does not travel more than
10 000 km per annum
○ a trailer or caravan which is not self-propelled, and which is designed or adapted for towing by a vehicle as
described above
○ a motorcycle, scooter, quad-bike, three-wheeled vehicle or golf cart
○ any vehicle that is temporarily used by you as a replacement while your insured vehicle is out of use for the
purpose of overhaul, upkeep or repair up to the sum insured in the schedule.
○ Agreed value means the value as agreed between you and us, at the inception of the policy. This is the amount
that will be paid in the event of a total loss, without any adjustment for depreciation or appreciation. The option
for agreed value applies to vintage vehicles or vintage motorcycles only.
○ Car-pooling means when you are carrying fare-paying passengers and the passengers are contributing towards
the running cost of the vehicle in a lift club and there is no element of profit or monetary gain for the driver or
owner of the vehicle.
○ Insured cause means a single occurrence which is not intended or expected to happen.
○ Named driver/s means the driver/s named as a restricted cover option.
○ Replacement value means the value to replace the caravan, trailer or golf cart with a similar make and model.
○ Regular driver/s means the person who drives or is in control or in possession of the vehicle most often. We use
this person’s information to determine the rate, terms and conditions. The name of the regular driver/s is stated
in your schedule.
○ Retail value for vehicles mean the value that the vehicle can generally be bought for, from a recognised member
of the motor vehicle trade industry. This value is obtained from the Auto Dealer’s Guide published by TransUnion
Auto (Pty) Ltd, or any similar publication approved by us and adjusted for mileage and condition. Where no
provision is made in such publications, the average value given by three independent motor industry sources of
our choice will be used. All these amounts are VAT-inclusive.