Page 30 - Hollard Namibia – Motor & Household Policy Wording

Mechanical and Electrical Breakdown
Key terms to understand
You
Insured items
Home
How much we pay
Includes you, your spouse and any members of your immediate family who normally reside with you, and are financially dependent on you.
Means any:
o electrical and electronic household appliances which have been designed for
performance of domestic chores such as fridges, freezers, microwave ovens,
washing machines, tumble dryers; and/or
o audio visual equipment such as televisions, DVD and Blue Ray players, hi-fi’s and
surround-sound systems
The house and outbuildings situated at the risk address stated in the SCHEDULE and used for domestic purposes.
When an item covered by this section no longer works in its normal way due to mechanical, electronic or electrical breakdown or failure, we will pay for the repair costs of the item. For items that cannot be repaired, we will pay you based on the replacement cost of these items.
Payouts are always limited
The repair cost will never exceed the replacement cost of the item. We will not pay out more than the sum insured stated in the SCHEDULE.
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 stated in the SCHEDULE.
What we cover you for
You are covered for sudden mechanical, electronic and electrical damage, which could not have been foreseen, to items covered by this section whilst within your home.
Example
If you successfully claim N$10 000 for repairs to an item, and the excess for that claim is N$1 000, you get N$9 000.
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