Page 43 - Bay Union - Platinum Policy Wording
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How we se le your claim
Does your claim a ect your cover and premium?
○ A er a home claim
If we pay you part of the sum insured only, your home policy con nues for the remainder of the period of insurance.
If we pay you the full sum insured all cover under your home policy stops. There is no refund for the unused premium.
○ A er a contents claim
If we pay the full sum insured on your contents a er a claim, your contents sum insured is automa cally reinstated and cover con nues for the period of insurance at no extra cost. You may need to change your insured address or change your contents sum insured. There is no refund of premium if you reduce your sum insured by the amount of your claim.
○ A er an Assets-speci ed claim
If we pay you the sum insured for a listed contents item (for example, R500 000 engagement ring), or pay to replace it, cover for that item stops and there is no refund of unused premium. If you want cover for any new replacement item, you will need to contact us and apply for cover for the new item.
○ No-claim bonus
– A no-claim bonus applies to some sec ons of your policy as stated in the schedule. Please check your
schedule now.
– If you have not claimed during the 12 months prior to renewal of your policy, your premiums may be discounted according to our scale of premiums. If we settle one or more claims, we will increase the premium according to our scale of premiums.
– Claims against certain types of covers, as agreed by us, will not a ect your no-claim bonus discount. What we will do a er a claim is paid
○ Salvaged home contents
We can take and keep any recovered or salvaged item/s and sell it and keep the proceeds a er we have replaced
the item or paid you for it.
○ Our right to recover claims we pay from those responsible
A er we pay a claim under this policy, we can decide to take legal ac on in your name to recover money from the person or en ty that caused the loss, damage or liability. You must give us all the help we need to do this. If we recover money that belongs to you and it was not part of the claim we paid, we will give this to you.
Bay Union – Pla num Policy Wording – 24 October 2016 41

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