Page 31 - Policy Wording - Hollard Prestige Portfolio

29
Hollard Prestige Portfolio – Version 1.5 – 19 June 2024
How we settle your claim
○ Dealing with defects
– We do not pay for loss or damage caused by defective workmanship or materials, structural faults or design
faults at your home that you knew about and did not fix before the loss or damage occurred.
– If an unknown defect is the cause of the damage:
•
we do not pay for loss or damage caused by defective workmanship or materials, but
•
if the loss or damage was caused due to a structural fault or design fault we will pay for the
resulting damage only.
– When we accept a claim we do not pay to rectify defective workmanship or materials, structural faults or
design defaults that existed at your home before the damage occurred.
– Once you become aware of defective workmanship, a structural fault or design fault at the home, you
must rectify it as soon as possible because there is no cover for loss or damage due to such defects. If you
do not rectify the defect or fault to acceptable standards at your expense or cost, we will not cover you or
might not offer to renew your policy.
○ Examination under oath
We have a right to examine you under oath as often as we require. We may ask you to give us a signed description
of the circumstances surrounding a loss and to provide us with any records, documents, information or evidence
that we request.
○ Further damage after an accident
If your vehicle is in an accident and is used or driven before the repairs have been done, you will be responsible
for the cost of repairs for any further damage to the vehicle related to the accident.
○ Items in pairs and sets
If you lose or damage an item that is part of a pair or set we will decide how to compensate you for the loss or
damage by:
– restoring, repairing, rebuilding or replacing the lost or damaged item, or
– paying you out a portion of the value in line with the total value of the pair or set.
○ If we decline a claim we will provide reasons for our decision to decline it and if your claim is lodged, we will send
you writ ten confirmation.
○ Recovered property
In the event where a recovery of the property, motor vehicle or item from a collection has been made after we
have set tled a claim, we will notify you in writing. You will have the option to purchase the property, motor vehicle
or item back from us. The amount payable will be the amount paid to you by us when the claim was set tled.
You will have 30 days to notify us of your decision about purchasing the property or not after which we have the
right to dispose of it as we see fit.