Page 47 - CCA Platinum Policy Wording

All Risks
Paying out after a claim
How much we pay
We will pay you out based on the replacement cost of any damaged or lost property.
For any claim under Unspecified Property, we will pay up to 25% of the sum insured for any one item. If you have chosen a sum insured of R10 000 we will pay up to R2 500 (25%) for any one item. This pay-out will never exceed the amount in the LIMIT SCHEDULE.
For any claim under Specified Property, we will pay up to the full value of the sum insured.
Take the time now to check the schedule for those items you have chosen to list under Specified Property. These are the items that you will be able to claim for up to the sum insured.
Example
Unspecified item
If you have lost a watch that costs R2 500 to replace, and your limit is R2 500 (25% of the sum insured of R10 000), we will pay the full R2 500. This pay-out will never exceed the amount in the LIMIT SCHEDULE.
Specified item
If you have lost a ring that costs R20 000 to replace, and it is insured for R20 000, we will pay you the full R20 000. If the ring is specified for only R16 000, we will pay only R16 000.
Pairs and sets
We will not pay more than the proportionate value of any article that is part of a pair or set. So if you lose one earring, for example, we will pay out only the value of that one earring.
You always pay the first amount, or excess
You will always have to pay the first part of any claim settlement. This is known as the excess, and is listed in the excess schedule.
Example
If you successfully claim R2 000 for a lost watch, and the excess for that claim is R250, your net pay-out from us will be R1 750.
HBM – CC&A Plain Language – 23 June 2014 45