Page 13 - Policy Wording - Hollard Prestige Portfolio 1.4

General terms and conditions
○ Loadshedding is the intentional, total or partial, withholding of electricity supply (from any source) by any party other than the insured, implemented in phases, which do not affect a municipality (including local, district, regional or any other level that is created by law) or province or the country at substantially the same time.
○ Loss or damage means physical damage to your items insured which happens by accident and is sudden and unexpected/unforeseen and does not include wear and tear or reduction in value due to the passing of time.
○ Material fact means any piece of information which might affect either decision to provide insurance or the conditions of the insurance.
○ Malicious damage means damage resulting from the deliberate, wilful or wanton act of any person that is committed with the intent to cause damage, including vandalism, but it excludes damage arising out of theft, hijack or any attempts thereat.
○ Policyholder means:
– any individual whose name is stated in the schedule, his/her co-habiting partner or spouse and directly related family members who are financially dependent on him/her who live with the policyholder permanently at the insured address; or
– the company, close corporation or trust whose name appears on the schedule and the directors, members or trustees of the company, close corporation or trust.
In this policy, the policyholder is addressed as 'you', 'your' or 'yourself'.
○ Proposal form contains the information provided by you together with the statements and declarations on which this policy is based. Along with this policy wording, the most recent schedule, any amendment to cover notice and your agreement to pay the premium, forms the contract between you and us.
○ Schedule means the latest schedule we have given you. It is an important document as it shows the covers you have chosen, how much your excess is and other policy details such as the premium and fees that apply.
○ Set means a group of similar or complementary items that belong or function together. For example:
– golf clubs are a 'set' (the bag and buggy are separate items);
– a camera 'set' is the camera body, case, standard lens, memory card or stick and standard accessories packaged by the manufacturer, when the camera was new;
– a jewellery 'set' is any pendant, charm or brooch, attached to any necklace, bracelet or chain (whether detachable or not) or any pair of earrings or cufflinks.
○ Standard or non-standard construction
– Standard construction are homes that are built with walls of brick, stone or concrete and are roofed with
slate, tiles, concrete, asbestos or metal.
– Non-standard construction means anything that is not built with standard construction material, including thatch.
○ Student means permanent members of your household who are studying full-time and are financially dependent on you.
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