Page 94 - Hollard Private Portfolio - Version 3.3

Motor
○ A person with a valid learner’s licence must be accompanied by a person with a valid driver’s licence.
○ A valid driver’s licence is a licence that has not been cancelled, suspended or endorsed.
○ An international driver’s licence or permit must be converted to a South African licence within five years of the driver becoming a permanent resident, otherwise the licence is invalid and the driver will be considered unlicensed.
○ The code on the driver’s licence must allow the driver to drive your vehicle, or to tow the size of load that your vehicle is used for.
○ If your vehicle is used in another country covered under this policy, the driver must have a valid driver’s licence as required by the country in which your vehicle is used.
Notify us of certain traffic offences
You must notify us if you have been charged or convicted of reckless or negligent driving.
This also applies to any person who may have been driving your vehicle at the time with your permission.
How much we pay
How we calculate sum insured
The retail value of your vehicle is the value from the Auto Dealer’s Guide published by TransUnion Auto Information Solutions (Pty) Limited, or any similar publication approved by us. It is the price most dealers would be prepared to sell your car for, based on the mileage and condition of the car. It includes any factory-fitted accessories and modifications that are listed in the manufacturer’s specification.
Repairing or replacing your vehicle
We will not pay more than the sum insured stated in the Schedule.
Do we fix the vehicle or get you a new one?
Once we have assessed your damaged vehicle, we may repair it if it makes economic sense, or pay out, or we may replace it.
Agreed value
If your vehicle’s value can no longer be determined by reference to the industry authorities, and you have supplied us with written proof of the value of your vehicle, then we may accept that figure and call it the agreed value. The valuation may be obtained from an expert, such as a motor dealer or motor club. All claims will be settled based on this agreed value, provided you supply an updated valuation at every anniversary date of your policy. If you do not, we will use a valuation from an expert, taking into account the condition and mileage of your vehicle.
Check your Schedule now to see whether we have agreed a value for your vehicle.
Reduced pay-out for Code 3 or SAPVIN vehicles
If your vehicle is classified on NaTIS1 as a Code 3 vehicle or SAPVIN, and it is written off or stolen, we may reduce your pay-out by a minimum of 30% of the retail value. When calculating the retail value we will take into account factors such as condition and mileage of the vehicle.
A Code 3 vehicle is a new or used motor vehicle that has been rebuilt after sustaining damage in an accident or incident. Even though it is roadworthy and complies with all relevant legislation, it always carries a Code 3 rating.
A SAPVIN (SA Police Vehicle Identification Number) code vehicle can be allocated only by the Police when a vehicle’s VIN number has been tampered with. The VIN number usually starts with AAPV.
If your vehicle is more than 12 months old
If your vehicle is more than 12 months old and cannot be repaired, we will pay its retail value. When calculating the retail value we will take into account factors such as condition and mileage of the vehicle.
1 NaTIS – This is the National Traffic Information System of the Department of Transport.
92 Hollard Private Portfolio – Version 3.3 – 9 Feb 2023