Page 25 - Hollard Business Branch Policy Wording

Cost of demoli on, clearing and erec on of hoardings
The insurance under this Sec on includes costs necessarily incurred by the Insured in respect of the demoli on of buildings and machinery and/or the removal of debris (including stock debris) and in providing, erec ng and maintaining hoardings required during demoli on, site clearing and/or building opera ons following damage to the property insured by a de ned event;
PROVIDED THAT:
the total amount recoverable shall not exceed the sum insured on the property a ected.
The Company will not pay for any costs or expenses:
1. incurred in removing debris except from the site of such property destroyed or damaged and the area immediately adjacent to such site;
2. arising from pollu on or contamina on of property not insured by this Policy/Sec on.
Deteriora on of undamaged stocks
The insurance under this item is limited to the deteriora on of undamaged stocks due to the Insured's inability to process such stocks following a De ned Event under this Sec on;
PROVIDED THAT:
1. such stocks would have been u lised by the business had the de ned event not occurred;
2. such stocks cannot be u lised before or, as far as can reasonably be foreseen, a er the expiry of two years from the date of occurrence;
3. the amount payable will be limited to the actual purchase costs incurred by the Insured for such stocks or the actual manufacturing costs incurred in producing such stocks up un l the occurrence of the event, less, if the goods are sold for salvage, the net amount realised from such sale.
Express delivery and over me
The Company will indemnify the Insured in respect of any extra charges for express delivery, airfreight, over me, Sunday and holiday rates of wages payable in respect of the necessary and reasonable addi onal costs incurred by the Insured for e ec ng repairs or replacement approved by the Company, limited to 50% ( y percent) of the amount which the repair or replacement would have cost had these addi onal costs not been incurred.
Mortgagee
The interest of any mortgagee in the insurance under this Sec on shall not be prejudiced by any act or omission on the part of the mortgagor without the mortgagee's knowledge. The mortgagee shall, however, inform the Company as soon as any such act or omission comes to his knowledge and shall be responsible for any addi onal premium payable from the date any increased hazard shall, in terms of this clause, be assumed by the Company.
Motors and pumping equipment
The Company will pay, replace or repair for loss of or damage to xed ltra on plant, water-pumping machinery, electronic gate motors or garage door machinery by an insured peril;
PROVIDED THAT:
1. the Company shall not be liable to pay more than R10 000 (ten thousand Rand) any one event or R50 000 ( y thousand Rand) during any one insurance period;
2. the Insured shall be liable for the rst 10% (ten percent) of the claim with a minimum of R500 ( ve hundred Rand) for each claim;
3. the
Company shall not be liable to compensate for:
3.1 automa c pool cleaners;
3.2 loss or damage as a result of wear and tear;
3.3 wear and tear;
3.4 gradual deteriora on;
3.5 inherent vice and latent defects;
3.6 any loss or damage recoverable under warranty.
Fire
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Hollard Business Policy – Branch – Version 1 2018