Page 17 - Hollard Private Portfolio - Version 3.4

Understanding your policy
○ You must never do any of the following because it may affect your claim:
– Never admit guilt, fault, liability, or incur any legal costs without first getting our permission.
– Never offer or negotiate to pay for the damage or the other person’s insurance excess.
○ Please read the section called Third party claims for a full explanation of how the liability claims process works
and what your responsibilities are.
You must help us with recoveries from third parties
○ After we have settled a claim, your rights to claim against the person (third party) that caused the loss or damage to your insured property are automatically given to us.
– You may not claim directly from the third party, because you have already claimed from us.
– You must never admit guilt, offer to pay someone else, or accept an offer from anyone else to pay for
the damage, or to pay you for your excess.
– You must give us all information and assistance that we need to claim from the third party.
○ If you don’t comply with the above, it may mean that we cannot claim back the amount of the loss or damage from the third party. You may lose all benefits under this policy and you may need to pay back any payment or benefit you received from us, plus any costs.
○ Please read the section called Third party claims for a full explanation of how the third party recoveries claims process works and what your responsibilities are.
How we may settle your claim
We may choose how we settle your claim and we may choose to repair, replace or pay the amount of the claim, or a combination of these methods.
○ This only applies to claims under the Buildings, Household contents and All Risks cover sections.
○ Please refer to the Motor and Pleasure-craft cover sections for additional information on how we settle claims
under these cover sections.
Replace or repair
If we replace or repair the insured property, we will apply the following principles:
○ We will choose the supplier or repairer and we will pay them directly.
○ If you have already done the repairs or replacement, we will refund you up to the amount that we would have paid for the repair or replacement.
○ We may reuse existing materials.
○ If matching materials are not available, we will try and match the existing materials as closely as possible. If an item needs to be replaced, we will replace it with an item that matches the specification of the damaged item as closely as possible.
○ If you are not satisfied with the materials we find as the closest match then you have two options available if we agree to it:
– You can pay the extra cost of replacing or repairing undamaged parts of the insured property to achieve a uniform appearance.
– You can ask us to rather pay you the amount that it would have cost us to repair or replace the damaged insured property with the closest matching materials.
○ The standard of repair or replacement will not exceed the requirements of any manufacturer or applicable legislation.
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