Page 66 - Policy Wording - Hollard Prestige Portfolio

64 Hollard Prestige Portfolio – Version 1.5 – 19 June 2024
Section 2 – Contents
Flexi limits or Flexi Plus limits
Both Flexi limits and Flexi Plus limits are stated in the schedule. You can choose either Flexi or Flexi Plus limits for your
cover. Flexi limits will apply unless you ask us for Flexi Plus limits and you pay the additional premium that applies. The
limit of your choice will be stated in your schedule, including the additional premium if applicable.
If you own items above the Flexi limits you can apply to insure individual items under the Section 3, Assets specified.
If you own:
○ individual items worth more than the Flexi limits, or
○ a number of items in the same Flexi limits category with a total value more than the Flexi limits.
Examples:
If you have Flexi limits and you own:
– a jewellery item worth R300 000, you can list the item individually for R300 000 under Section 3, Assets
specified
– the Flexi limit of R250 000 per item and R250 000 in total will apply to all other jewellery you own, or
– alternatively you can increase your Flexi Plus limit from R250 000 and add R300 000 = R550 000.
For example
If you have three jewellery items of R100 000 each, with a total value of R300 000 and you want more cover than
the R250 000 Flexi limit, you can list one of the jewellery items under the Section 3, Assets specified with a value of
R100 000 to have R300 000 cover in total for jewellery as your incident limit will be R250 000.
Optional cover
The following cover is available at an additional premium. These amounts are not part of the sum insured for contents.
○ Bed-and-breakfast cover will apply only if a maximum of four bedrooms at your insured address are rented out
to guests.
The excess stated in the schedule applies to this cover.
What is covered?
– Stock-in-trade means cover for stock-in-trade up to the sum insured stated in the schedule for the Bed-
and-breakfast cover extension. If the sum insured is not adequate, average will apply.
– Increase in peak period means the sum insured stated in the schedule for the Bed-and-breakfast cover
extension will be increased by the limit stated in the schedule for long weekends, during festivals and
during school holidays stated in the official provincial school calendar.