Page 82 - Hollard Namibia – Motor & Household Policy Wording

Pleasure-craft
Key terms to understand
You
Third party
Total loss
Includes yourself, your spouse and any members of your immediate family who normally reside with you, and are financially dependent on you
Someone other than yourself who is involved in an insured event – for example, the skipper of another boat that is involved in an accident with you
Your pleasure-craft is so badly damaged that it cannot be repaired economically; or it has been stolen and not recovered
Pleasure-craft (Boat) – full definition
Your pleasure-craft consists of the hull and motors. It includes all original standard equipment, as well as any accessories sold with the craft.
Other accessories, fittings and equipment may also be covered under this policy, so long as they are specified in the SCHEDULE.
How you may use your pleasure-craft
This insurance policy carefully defines how you may use your pleasure-craft in order for the cover to be valid.
Private Use
You may only use your pleasure-craft for private use (social, domestic and pleasure), as well as emergency tow-and-assist.
Tow-and-assist
You may use your pleasure-craft to lend emergency assistance to other pleasure-craft in distress. Your pleasure-craft may also be towed when in distress.
How much we pay
We will never pay more than the sum insured stated in the SCHEDULE.
If the pleasure-craft is repairable
We will make arrangements for repairs to be carried out by a qualified repairer once we decide to repair the pleasure- craft. The qualified repairer will repair your pleasure-craft to a condition substantially the same as its condition immediately before the event.
If the pleasure-craft is a write off and is less than five years old
If the boat is less than 5 years old and either written off or stolen, we may replace it with a similar new one or pay you the purchase price of a new one.
If the pleasure-craft is a write off and older than five years
If the boat is older than 5 years and either written off or stolen, we will pay you its reasonable market value. Quotations from two qualified boat dealers will be used to determine the market value.
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