Page 9 - Execuline - Classic Policy Wording

General
Understanding all the legal stuff
This is a legal contract
This policy is simply a legal contract between you (the person listed in the schedule) and us (The Hollard Insurance Co. Ltd, Reg. No: 1952/003004/06).
It basically says that if you suffer a loss from an insured event, we will pay you out. This is on condition that you have paid your premiums, and you comply with all terms and conditions.
Making things as clear as possible
The policy is designed to avoid confusion. So any word that has been formally defined − for example, claim or insured event – shall have that meaning wherever it appears.
All the headings that you see are merely to help you find information quickly. But remember that they are merely summaries; you must read the detail underneath. The policy wording will always be the final authority in the event of any dispute around meaning or interpretation.
Why all the terms and conditions?
Terms and conditions are the rules you have to comply with in order for the policy to be valid – for example, paying your premiums on time, or letting us know if you’ve taken up a dangerous sport like hang-gliding.
Some conditions are so strict that they are actually guarantees on your part – for example, that all jewellery must be kept locked away in a safe. Make sure you understand all terms and conditions; if you don’t, it may result in us refusing to pay you out for a claim.
This is YOUR policy
Only you have rights under this policy – even where we have defined “you” to include other persons.
Insurable interest
You can only claim for items in which you have an insurable interest – i.e. items which, if lost or damaged, cause you to be worse off financially.
For example, you have an insurable interest in your own house, because if it is damaged, it results in a loss for you. However, damage to your neighbour’s house does not leave you financially worse off; so you have no insurable interest in it, and therefore cannot claim for it.
HPL – Execuline – Classic Personal Insurance Policy – 6 July 2015 7