Page 18 - Policy Wording - Hollard Prestige Portfolio

16 Hollard Prestige Portfolio – Version 1.5 – 19 June 2024
General terms and conditions
Your very first premium must be paid on time in advance; there is no grace period.
A grace period is where we have agreed to keep you covered for a specific period, although your premium
for that period has not been paid on time. The grace period always ends on the date the next premium is
due.
If you miss a payment for any subsequent month, we will keep you covered for that month as a grace
period. We will, however, request payment (by debit order) of two months' premium the next month. If
we do not receive the two months' premium, or you instruct your bank to stop the payment, your policy
will be automatically cancelled. This cancellation will be backdated to the date on which your first payment
was supposed to have been made. No cash payment by you after the grace period, without our prior
agreement, will be accepted or will reverse this cancellation.
– Annual premiums
If you are paying annually, you are allowed a 30-day grace period after the start of your policy to set tle your
payment. If you miss this deadline, your policy will automatically lapse. Any claims you may make during
the grace period will not be set tled until you pay all premiums still outstanding, or agree to them being
deducted from any set tlement.
○ Period of insurance means the time for which this policy is in force as stated in the schedule. If you pay your
premium annually, cover continues to the anniversary date of your policy plus any period for which you renew
your policy. If you pay your premium monthly, the period of cover continues for each calendar month for which
you have paid the premium.
○ Precautionary measures means if you declared precautionary measures at any time during the period of insurance,
or any such measure is a prerequisite for cover as stated in your schedule, you must ensure that these measures
are in place and in working order at the time of loss or damage for which a claim is submit ted. If these measures
are not in place, fully maintained and in working order there will be no cover.
○ Proof of ownership and value means when you make a claim we may ask you to give us proof of ownership and
value for what you are claiming for. This is especially important for valuables and items listed in your schedule and/
or any supplementary documentation, especially items such as jewellery, electronic items and watches.
There are some items where we will reduce or reject a claim unless you have proof of ownership and value. We
have provided a further explanation on this under the section 'How we set tle your claim'.
○ Reinstatement of sum insured means the sum insured stated in the schedule will not be reduced by the amount
of any claim.
○ Rights to you only means nothing in this policy is intended to give any person other than you or us any right to
enforce any term of this policy.
○ Special conditions means we may impose special conditions on your policy that might exclude, restrict or extend
cover for a person or particular mat ter. Any imposed conditions will be stated in your latest schedule. It is important
that you read your schedule carefully.