Page 39 - Personal Underwriting Mandates & Guidelines - Binder - Version 3

Third Party Only Cover: You are only covered for your legal liability towards a third party whose property is involved in an accident with your vehicle, for example the owner of another vehicle or the owner of property. The limit of liability is as noted on your schedule under the third-party liability limit. There is no cover for loss or damage to your own vehicle.
○ Classic vehicles
Classic vehicles are generally vehicles of 20 years and older, but age is not the only deciding factor. Classic and vintage vehicles appreciate in value and are therefore considered worthy of preserving and restoring or they have some element of uniqueness that attracts enough interest for it to be classified as a collectable. These vehicles are not used for everyday use and must not travel more than 5 000 km per annum, or else they must be referred to Hollard.
Owners of classic vehicles can approach a Classic Car Club for a valuation indicating the condition and value.
Accessories and extras
○ Factory fitted accessories are those standard and optional items that are originally fitted by the manufacturer during the production of the vehicle and which are generally included in the manufacturer’s specification and in the vehicle’s retail value. However, there are instances where optional factory-fitted accessories are not included in the retail value
○ Aftermarket accessories are those accessories that were not originally fitted by the manufacturer during the production of the vehicle, and include the following:
– Optional or additional accessories that a client or a previous owner of the vehicle asked the motor dealer to have fitted before the vehicle was purchased
– Accessories that the client or any previous owner of the vehicle bought separately and had fitted after the vehicle was purchased.
○ Standard factory-fitted accessories are automatically included and catered for in the retail value obtained from TransUnion or any similar accepted industry authorities.
○ Aftermarket accessories and optional factory-fitted accessories that are not included in the retail value of the vehicle must be specified in the schedule, insured at the correct replacement value and an additional premium is payable. These accessories will not be depreciated by the system. The sum insured for these items must be discussed with the client, at renewal
○ The following are examples of aftermarket accessories that do not appear in the Auto Dealers guide:
Motor
Aftermarket accessories
Body type
4x4; SUV; LDV; Dcab
Sedan; Station wagon; etc.
Motorcycle
Electric seats
Seat covers
Two finger levers
Awning/Canopy
Bluetooth
Bash plate
Diff lock
Other
Carrier plate
Dual battery system
PDC
Centre stand
Bi/Xenon headlights
Cell phone kit
Crash bars
Mudflaps
Crash bobbins
Leather interior
Foot pegs
38 Personal Underwriting Mandates & Guidelines – Binder – Version 3