Page 33 - Hollard Private Portfolio - Version 3.4

Buildings
5. Leaks, flooding
Bursting, leaking, overflowing of water apparatus; leakage of oil
Damage to water apparatus and fixed oil heaters: You are covered for damage to water apparatus and fixed oil heaters, caused by bursting or leaking. This includes all components that form part of the fixed oil heater or heating system that generates hot water, such as electrical geysers, gas geysers, solar geysers and heat pumps. Electrical and solar geysers are covered up to the limits stated in your policy schedule.
Damage to the building: You are covered for damage to the building caused by leaking or overflowing of water from water apparatus such as geysers, tanks, pipes and heat pumps. You are also covered for damage caused by the sudden leakage of oil from oil heaters.
Damage to concealed water pipes: We cover the full cost to repair or replace concealed water pipes if they leak or burst as a result of increased water pressure or freezing.
Although gradual deterioration (such as rust and corrosion) is excluded under the General Exclusion – Gradual deterioration in the Understanding your policy section, we will cover damage to concealed water pipes as a result of this once during the lifetime of the policy. Thereafter it will be for your own account.
6. Malicious damage
This refers to when someone deliberately causes loss or damage to the building without the intention of getting any benefit in return.
7. Theft
Theft pay-out depends on circumstances, security and occupancy
The exact amount we pay out for theft always depends on the underlying circumstances. Sometimes we pay out up to the full sum insured – for example, when the theft occurs from your private residential building while the premises are unoccupied and the minimum security is in place.
At other times, we pay less than the full sum insured, or simply a limited amount – for example, when the theft occurs from your outbuildings and the minimum security is not in place and there is no forcible or violent entry. These lesser amounts are spelled out in your policy schedule.
How much we pay for theft claims
Theft of any part of the buildings in the open
You are covered for the theft (or attempted theft) up to the sum insured of any fixed part of the buildings in the open – for example, the motor from your front gate, the bricks of your driveway.
Pay-out up to the sum insured (if minimum security is in place)
Theft of any part of the buildings
You are covered for the theft (or attempted theft) of any part of the buildings – for example, the fitted carpets or light fittings in your private residential building – provided you comply with the minimum security requirements.
Damage to your buildings during theft or attempted theft
You are covered for loss or damage to the building caused by theft or attempted theft.
Buildings lent or let (forced entry required)
There must be clear signs of forced entry to or exit from the buildings when the building is lent, let or sub-let other than to a maximum of three paying guests, lodgers or boarders.
Pay-out up to the sum insured (if minimum security is not in place)
Theft from an unoccupied outbuilding
You are covered for the theft (or attempted theft) from inside your outbuildings if you do not have the minimum security requirements in place but there are clear signs of forced entry to or exit from your outbuildings.
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