Page 171 - Hollard Business Branch Policy Wording

Motor Fleet
1.2 vehicle transport cost:
for the costs and expenses of transpor ng the vehicle to the nearest border post in the Republic of South Africa, or as agreed with the Company, subject to a maximum of R5 000 ( ve thousand Rand) per event;
1.3 temporary repairs:
or the costs of any temporary repairs undertaken by a repairer situated outside the Republic of South Africa subject to a maximum of R5 000 ( ve thousand Rand) per event;
PROVIDED THAT:
the Insured shall provide the Company with all relevant and suppor ng documenta on relevant to the costs incurred on request.
Vehicle replacement (only applicable to private type motor cars and light commercial vehicles up to a GVM of 3 500kg)
The Company shall, instead of a monetary payment and subject to the consent of the Insured and/or of any other interested party known to the Company, replace the said motor vehicle with a new motor vehicle of the same type and model (subject to the availability thereof) if within 12 (twelve) months a er the rst registra on of the vehicle and subject to it not having been driven for more than 30 000 km (thirty thousand kilometres);
PROVIDED THAT:
1. the loss of the vehicle is as a result of the and if the said vehicle cannot be traced within a reasonable period a er the the thereof has been reported to the Company; or
2. the vehicle is damaged to the extent that the cost of repairs exceeds 70% (seventy percent) of its list price plus taxes when new;
PROVIDED FURTHER THAT:
1. the basis of indemnity will be the current cost of a new motor vehicle of the same or similar model subject to a limit of 120% (one hundred and twenty percent) of the maximum indemnity as stated in the Schedule, less any rst amounts payable;
2. in the event of a vehicle being replaced under the circumstances as described in Provisions 1. and 2. above, then the Company shall be en tled to the possession and ownership of the lost or damaged vehicle.
Cross liabili es
Where more than one Insured is named in the Schedule, the Company will indemnify each Insured separately and not jointly, and any liability arising between such Insured shall be treated as though separate policies had been issued to;
PROVIDED THAT:
the aggregate liability of the Company shall not exceed the limit of indemnity stated in the Schedule.
War
In respect of Sub-Sec on B and C only, General Excep on 1 is deleted and replaced by the following:
"This Sec on does not cover war, invasion, act of foreign enemy, hos li es (whether war be declared or not), civil war, mu ny, insurrec on, rebellion, revolu on, military or usurped power."
Roadworthiness/compliance
The Insured must maintain the insured vehicle in an e cient and roadworthy condi on in compliance with the Na onal Road Tra c Act 93 of 1996 (as amended or subs tuted) and the Regula ons promulgated thereunder, or any similar legisla on which applies to the Territorial Limits.
Premium adjustment
The Insured shall submit to the Company at the end of each period of insurance a declara on of the total number of vehicles owned, hired or leased at such expiry date. The Company shall, upon receipt of this declara on, make a premium adjustment of 50% ( y percent) of the annual rate per vehicle applied to the di erence in the number of vehicles at incep on or renewal and the number declared.
Page | 170 Hollard Business Policy – Branch – Version 1 2018