Page 31 - Personal Underwriting Mandates & Guidelines - Binder - Version 3

All Risks
ALL RISKS
This section deals with insurance cover for a wide range of accidental loss or damage that occurs away from the home. It is designed to provide cover anywhere in the world for items worn or carried on a person.
All Risks items are grouped according to type. Specific rates apply to the various types of All Risks items depending on the exposure. Mobile communication equipment, cellphones, laptops, tablets, etc., by their very nature high risk items and will attract a different rate than the likes of unspecified property or items in a bank vault.
UNSPECIFIED PROPERTY
Unspecified items are items of clothing and personal effects that are either worn or designed to be carried with you. These tend to be lower value items such as pens, makeup and handbags. Unspecified property may also include sports equipment; however, on most products sports equipment must be specified to be covered for damage while in use. This is policy wording specific.
SPECIFIED PROPERTY
Specified property is any item of property that is specifically list in the policy schedule. These items tend to be of high value or are specifically excluded under the unspecified All Risks section of a policy wording, and typically include the following:
○ any item with a value higher than the limit in the schedule
○ vehicle sound equipment
○ computer equipment such as laptops, palmtops, notebooks, iPads, Kindles, and tablets and their accessories.
○ any telecommunication devices such as cell phones
○ satellite navigation systems (GPS)
○ stamp or coin collections
○ caravan contents
○ golf clubs
○ pedal-cycles (including e-bicycles)
○ remote controlled aeroplanes/drones
○ cover for sports equipment that is damaged while in use
○ motorised equipment such as Segways, Zippy Nippies, shop riders, motorised wheelchairs, children’s battery- operated scooters/motorbikes/cars.
Note: This will be policy wording-specific and should not be regarded as exhaustive. Remote control aeroplanes/drones
Drones are expensive pieces of equipment with a price tag that could run into thousands of Rands. The use of remote control aeroplanes/drones is expanding rapidly – they are not only used socially but also commercially.
30 Personal Underwriting Mandates & Guidelines – Binder – Version 3