Page 48 - Policy Wording - Hollard Prestige Portfolio

46 Hollard Prestige Portfolio – Version 1.5 – 19 June 2024
Section 1 – Home
○ Buying a new home means if you are buying a new home, we will cover the home for loss or damage. This cover
is subject to the following:
– the home must be insured with us and the premium paid
– we will cover loss or damage up to the sum insured stated in the schedule
– the cover will apply only from your signing the deed of sale and the transfer of the property into your name
by the deeds office but limited to a maximum period of 90 days.
○ Fees and costs
– We will pay the necessary costs following the loss or destruction of or damage to your home up to the limit
stated in the schedule to:
•
remove the damaged parts of your home from the insured address
•
cover extra costs for the compliance to the latest building regulations and laws
•
demolish the home if necessary, and
•
make the home safe if it cannot be lived in.
– If we authorise the repair or rebuilding of your home, we will also pay the reasonable and necessary cost:
•
of temporary fencing
•
of fees from quantity surveyors, land surveyors, architects and engineers
•
of local authorities’ inspection fees
•
for building application fees and legal work to repair or rebuild, and
•
additional costs for the compliance to the latest building regulations and laws.
– We will not be responsible for the costs:
•
or fees connected with any undamaged parts of the home
•
you may incur in meeting any condition required by the Government or local authority of which
they notified you before the damage occurred.
○ Fire department charges
We will pay for any cost incurred to extinguish a fire or for preventing imminent fire damage to your home up to
the limit stated in the schedule.
○ Garden and landscaping
We will pay the cost of re-landscaping your garden following damage to your garden caused by fire, lightning,
explosion, storm, wind, water, hail or snow, impact, vandalism, theft or at tempted theft up to the limit stated in
the schedule.