Page 10 - Hollard Private Portfolio - Version 3.3

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The most important changes you must tell us about are listed below, but there could be others:
– If your home is unoccupied for more than 60 consecutive days.
– If the security measures in your home changes.
– If the regular driver of the vehicle changes.
– When you alter, extend or renovate your home, notify us before you start.
– If your policy schedule details are no longer accurate, for example you change your address or if you purchase new insured property.
– If you are convicted of a criminal offence.
– If you run a business from your home.
– If another insurer declines to provide insurance, cancels or refuses to renew a life insurance or short- term insurance policy for you, anyone living with you or anyone who is covered under this policy.
If any of your information is incomplete or incorrect at any time, our decision was based on incorrect information. This means we may not have agreed to cover or continue to cover your property with your current premium, limits or conditions.
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We may cancel your policy from the date that you gave us incorrect information, or since there was a change in the risk that you did not tell us about. If we cancel, you lose your right to claim and we will refund the premiums we received after the cancellation date, less the claims amount we may have paid.
Understanding your policy
This applies to the following sections:
○ House contents
○ Buildings
○ All Risks – Unspecified property
It remains your responsibility to ensure that you are adequately insured at all times.
Prevent/minimise loss or damage
You must take all reasonable steps to prevent loss or damage, death, bodily injury, liability and accidents and reduce the damage to your insured property after an event, or we might not compensate you for any loss or damage. For example, if you have a leak in your pipes that causes flooding in your home, you have a responsibility to call in a plumber to turn off the flow of water to prevent further flooding; you cannot just leave things as they are.
Tell us if you wish to cancel the policy
You may cancel the policy at any time. If we wish to cancel the policy, however, we must give you 31 days’ written notice. If your policy is an annual one, we will have the right to keep a small portion of any premiums we refund to you.
Tell us of any changes
You are allowed to request a change to the policy at any time. Please note that the changes you request may require us to amend the terms and conditions of the policy.
We are allowed to request a change in the policy from you – for example, an upgrade of your alarm system – provided we give you 31 days in which to do it.
You must give us all material information
Material information is essential information which can influence our decision whether to accept a risk at inception or during the period of insurance, to apply more conditions or to change your premium. You must give us all material information, and tell us within 21 days from the date that any material information changes.
Examples of material information: Your insurance claims history, the regular driver’s date of birth, or your home’s security measures.
Example:
The sum insured of your home is R1 000 000. At renewal we will increase it by an inflation-linked percentage, for example 10%, which will increase your sum insured to R1 100 000 for the next 12 months. Even if we increase the sum insured by the inflation-linked percentage, it is still your responsibility to ensure that your sum insured is correct.
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Hollard Private Portfolio – Version 3.3 – 9 Feb 2023