Page 11 - Policy Wording - Hollard Prestige Portfolio

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Hollard Prestige Portfolio – Version 1.5 – 19 June 2024
Introduction to your policy
Report insurance fraud
Insurance fraud is not a victimless crime. It imposes additional costs on honest policyholders and wastes the valuable
resources of our community. This means it affects everyone.
We actively pursue fraudulent and inflated claims in order to keep your premiums as low as possible. Fraudulent claims
will be investigated and may be reported to the police.
Help us fight insurance fraud by reporting:
○ inflated repair bills
○ staged incidents
○ false or inflated claims
○ fires which may be intentionally started, including by someone known to you.
To report suspected insurance fraud: phone 0860 002 526 or SMS: 32269 or, email: insurance@fraudline.co.za. Let’s
work together to reduce the impact of insurance fraud on the community.
About your sum insured
○ What is a sum insured? The sum insured is the most you can claim for any one incident. The amount is stated in
the schedule. The sum insured includes VAT and any adjustment you are entitled to.
○ Make sure your sum insured is adequate: When you are under-insured you can be exposed to serious financial loss
if a claim occurs. Make sure your home and contents are insured for the replacement value. Motor vehicles must
be insured for the retail value or where agreed, for the sum insured stated in the schedule. It is your responsibility
to decide on the value of your sum insured and ensure that your sum insured is adequate.
○ Review your sum insured regularly: Make sure your sum insured is adequate; it is important to review it regularly
and ask us to change the sum insured when required. New replacement prices on contents are constantly changing,
especially for jewellery, valuables, photographic, computer, audio-visual equipment and electronic goods.
If you upgrade the size and standard of your home, it may increase the cost to rebuild your home. Your sum
insured will need to reflect these types of changes.
We do offer an asset inventory service whereby we will appoint a surveyor to survey your assets and this cost
might be charged for as an additional outsource fee.
○ If you over-insure: We will not pay more than it costs us to reinstate, repair or replace. We will not refund any
premium overpaid for over-insuring so it is a good idea to constantly review your sums insured.
○ Value Added Tax (VAT): VAT is included in your sums insured limits and the most we will pay as stated in this policy
wording and in your schedule.