Page 27 - Hollard Business Branch Policy Wording

Fire
2. un l expenditure has been incurred by the Insured in replacing or reinsta ng the property, the Company shall not be liable for any payment in excess of the amount which would have been payable if these condi ons had not been incorporated herein;
3. if, at the me of replacement or reinstatement, the sum represen ng the cost which would have been incurred in replacement or reinstatement if the whole of the insured property had been damaged, exceeds the sum insured thereon at the commencement of any damage to such property by a de ned event, then the Insured shall be considered as being their own insurer for the excess and shall bear a rateable propor on of the loss accordingly. Each item of this Sec on, if more than one, to which these condi ons apply shall be separately subject to this Provision;
4. these condi ons shall be without force or e ect if:
4.1 the Insured fails to in mate to the Company within 6 (six) months of the date of damage or such further me as the Company may in wri ng allow, their inten on to replace or reinstate the property;
4.2 the Insured is unable or unwilling to replace or reinstate the property on the same or another site.
Temporary removal
Except in so far as it is otherwise insured the property insured is covered whilst temporarily removed elsewhere on the premises stated in the Schedule or to any other premises including transit by road, rail or inland waterway anywhere within the Republic of South Africa, Namibia, Botswana, Lesotho, Swaziland, Zimbabwe, Zambia, Mozambique and Malawi;
PROVIDED THAT:
1. unless such temporary removal is for the purpose of cleaning, renova on, repair or similar process, the liability of the Company shall not exceed 20% (twenty percent) of the sum insured applicable to any item;
2. the amount payable under this Clause shall not exceed the amount that would have been payable had the loss occurred on the part of the premises from which the property is temporarily removed.
Temporary repairs and measures a er loss
The insurance under this Sec on is extended to include all costs and expenses incurred by the Insured in e ec ng such temporary repairs and by taking such temporary measures as may be reasonably necessary a er loss of or damage to the insured property by any peril hereby insured against;
PROVIDED THAT:
the liability of the Company for such loss or damage and costs and expenses shall not exceed in the aggregate R50 000 ( y thousand Rand).
Public supply
This Sec on is extended to cover accidental damage to water, sewerage, gas, electricity and telecommunica on connec ons, the property of the Insured or for which they are legally responsible, between the property insured and the public supply or mains.
Tenants
The Company's liability to the Insured shall not be a ected by any act or omission on the part of any owner of a building or any tenant (other than the Insured) without the Insured's knowledge. The Insured shall, however, inform the Company as soon as such act or omission which is a contraven on of any of the Terms, Excep ons and Condi ons of this Sec on comes to their knowledge and will be responsible for any addi onal premium payable from the date any increased hazard shall be assumed by the Company.
Valua on of stock (in absence of stock declara on condi ons)
If stock and materials in trade insured under this Sec on are not subject to the stock declara on condi ons, any claim hereunder shall be se led on the basis of the market value immediately before the damage. In the event of the market value of the stock and materials in trade immediately before the damage being greater than the sum insured thereon, the speci c condi on of average for this Sec on will apply.
Page | 26 Hollard Business Policy – Branch – Version 1 2018