Page 21 - Hollard Private Portfolio - Version 3.4

Understanding your policy
Salvage belongs to us after a claim
Any insured property that we decide is uneconomical to repair, or any lost or stolen property which is found after a claim has been settled, is referred to as salvage. Salvage is our property and we may sell it to cover our claims cost. If the proceeds of the sale are more than our claims costs, we will pay the difference to you. This clause does not apply to claims for:
○ Salvage of a pleasure-craft written off outside South Africa under the Pleasure-craft cover section.
○ Salvage of a vehicle written off outside South Africa under the Motor cover section.
If you do not agree with our claims decision
Please refer to the process explained under How to complain.
Prescription – expiry of claims
○ When a claim prescribes, it means that you have lost your right to claim and we will no longer be legally responsible to pay that claim.
○ A claim will prescribe after 12 months from the date of the event, unless any of the following applies:
– You have referred the claim to the Ombudsman for Short-term Insurance.
– You have started legal action against us.
– The claim relates to your legal liability towards another person.
General exclusions – what is not covered
You must read these exclusions together with the specific exclusions in each cover section. These exclusions apply to all cover sections of this policy except for:
○ Cyber insurance
○ Personal accident
Asbestos
We do not cover any legal liability or consequential loss because of the presence of asbestos in any form or quantity. This is because of the hazardous nature of asbestos.
Confiscation or similar acts
We do not cover you for any loss, damage or costs because the police or any other authority legally took possession of your insured property for any period.
Consequential loss
We do not cover further loss or damage that you may suffer as a consequence of an event that is covered under this policy. Consequential loss is not directly caused by an event covered under this policy, but is an indirect consequence of the event.
Cyber incidents
We do not cover any kind of loss, damage, liability or costs which are directly caused by a cyber incident. A cyber incident is any of the following which affects the processing, use or operation of any computer, network, back-up facility or electronic data:
○ Programming or operating errors by any person or persons.
○ Unauthorised or malicious acts regardless of the time, place or whether it is a threat or a hoax.
For example, if your car is in an accident on the way to the airport, we will cover you for the damaged car (if insured under this policy). We will not pay for any loss you may suffer because you missed your flight.
Hollard Private Portfolio – Version 3.4 – 17 Aug 2023 19