Page 35 - Hollard Private Portfolio - Version 3.4

Buildings
○ An accidental bodily injury refers to an unforeseen physical injury caused by accidental, external and visible means, and that happens unexpectedly and unintentionally at an identifiable time.
○ We will pay the accidental death benefit to the deceased person’s estate.
○ If the deceased person is a child, then we will pay the death benefit to the policyholder.
○ This benefit is not applicable if the policyholder is a juristic person.
Acts by tenants
Your insurance risk might be affected by the actions or failure to act of your tenants in the case where you rent out your building. Because their actions are out of your control, we will cover you against loss or damage to your building when their actions or failure to act would have resulted in your claim being rejected. This is on condition that:
○ You are not aware of their actions or failure to act.
○ You tell us as soon as you learn about it.
○ Their actions or failure to act were not malicious and they did not intentionally cause the loss or damage.
Examples of how this cover is applied:
○ If having an alarm system is a requirement on your policy, and your tenant does not tell you that the alarm stopped working, we will cover a claim for damage to your building during a burglary, because their failure to let you know of the broken alarm is out of your control.
○ If you tenant intentionally causes loss or damage by vandalising your property, we will still reject such a claim.
○ If the claim is due to a leaking roof because the roof has not been maintained over time, then you will not have cover under this benefit. The regular maintenance of the property remains your responsibility as the landlord and in such an instance the General exclusions – Gradual deterioration in the Understanding your policy, which refers to lack of maintenance, would apply.
Alternative accommodation or loss of rent
We will pay the following if your home is uninhabitable after a valid claim:
○ Alternative accommodation
If your home is not rented out, then we will cover the cost of alternative accommodation for you, your live-in
domestic employees and domestic pets.
– We will decide on the alternative accommodation by considering the rental amount that would be reasonable to charge for a property of the same value and location as your home.
– We will pay the reasonable costs we have agreed to for temporary accommodation in a guest house or hotel for not more than 14 days, while we arrange alternative accommodation.
○ Rental income
– If you rent out your home or part of it to tenants, then we will pay the loss of the actual rental income which you would have earned. You must give us evidence of a rental agreement to prove your loss of rental income.
– Holiday letting: If you let out your home to paying guests, then this benefit does not apply to bookings that have been cancelled because your home is uninhabitable. Please contact us if you need business interruption cover under a commercial policy.
○ Rental shortfall
If your tenant cannot live in your home, you may be responsible to provide other similar accommodation for
them.
– If the cost of this alternative accommodation is more than the amount that the tenant would have paid you, we will cover this difference in cost.
– We will only pay for the time that is left on your rental agreement or the time reasonably needed to make your home habitable again, whichever is the shortest.
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