Page 34 - Hollard Namibia – Motor & Household Policy Wording

All Risks
Key terms to understand
You
Unspecified property
Specified property
Smart devices
Accessories inside caravans and trailers
How much we pay
Includes your spouse and members of your immediate family who reside with you, and are financially dependent on you.
Clothing and personal effects that are either worn or carried with you. These tend to be low-value items such as pens, make-up and handbags. It also includes sports equipment and pedal cycles.
Any item that is specifically listed in your SCHEDULE. These tend to be items of high value and typically include jewellery, cell phones, tablets and cameras.
A smart device is an electronic device, generally connected to other devices or networks via different protocols such as Bluetooth, NFC, WiFi, 3G, etc., that can operate to some extent interactively and autonomously. Examples are cellphones, phablets, tablets, smartwatches, smart bands.
Accessories which the caravan or trailer came standard with, including household goods temporarily used for holiday purposes. Permanent fittings to a trailer and caravan are not covered.
We will pay you out based on the replacement cost of damaged or lost items.
o For Unspecified property we will pay up to the amount stated in the LIMIT SECTION for any single item, pair or set. The pay-out is further limited to the sum insured stated in the SCHEDULE.
o For Specified Items we will not pay out more than the sum insured stated in the SCHEDULE or new replacement value for the same or similar item, whichever is the lesser.
o For accessories inside caravans and trailers as well as camping equipment, we will pay up to the amount stated in the LIMIT SECTION for any single item, pair or set. The pay-out is further limited to the sum insured stated in the SCHEDULE.
Example
Unspecified item
If your Unspecified Property sum insured is N$10 000, and the limit per item in the LIMIT SECTION is, for example, 25%, we will pay out maximum N$2 500 per item. This total payout will never exceed the sum insured stated in the SCHEDULE.
Specified item
If you have lost a ring that costs N$20 000 to replace, and it is insured for N$20 000, we will pay you the full N$20 000. If the ring is specified for only N$16 000, we will pay only N$16 000.
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