Page 13 - Hollard Private Portfolio - Version 3.4

Understanding your policy
If cover ends
If your cover ends because you cancel it, we cancel it or there is a total loss claim, we will pay back that portion of the annual premium which relates to the period after the date the cover ended. We have the right to keep a small portion of any premium we refund to you, to cover our costs. We will not pay back any premium if we cancel your policy because of fraud.
When policy conditions change
We will tell you at least 31 days before the effective date of any changes we make as set out below. We will send you an updated policy schedule, policy wording and an explanation of the changes.
We will renew your policy every year on your renewal date
○ Inflationary increases: Each month, we will automatically increase the sums insured for your Buildings, Household contents and All Risks – unspecified, by an inflation-linked percentage. At your renewal date, the increased sum insured will be formally shown in your policy schedule, and your premium will be adjusted accordingly.
– You are still responsible to make sure that the sums insured are enough to cover your insurance needs. Contact your broker immediately if you need further advice on whether you need to change your sums insured.
○ Premium changes: When we review your premium, we consider several different factors, like your address, security measures, environmental changes, inflation and changes to your sums insured.
○ Limits and excesses: We may also change the limits and excesses that apply to your cover.
○ Automatic renewal: Unless you tell us that you want to make changes to our renewal terms, we will automatically
renew your policy on the terms shown in the updated policy schedule and policy wording.
We may make changes to your policy
○ We may change the terms and conditions of this policy at any time, and not just on your renewal date. A change might affect the sums insured, limits, your premium and excesses.
○ If legislation changes, this policy will be aligned with the change, until such time as the policy wording is updated. You may make changes to your policy
○ Any changes may affect your premium. Changes will only be in place once we have agreed to them and have sent you your new policy schedule.
○ If we agree to change some policy requirements, it does not mean that we have agreed generally to change all the requirements.
Your responsibilities
You must give us all material information
○ Material information is essential information which can influence our decision whether to accept a risk at your inception date or cover start date, 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. 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 building changes.
– If the regular driver of your car or motorbike changes.
– Prior to alterations or renovations to your building.
Examples of material information: Your insurance claims history, changes to the regular driver or your building’s security measures.
Hollard Private Portfolio – Version 3.4 – 17 Aug 2023 11