Page 16 - Policy Wording - Hollard Prestige Portfolio 1.4

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Monthly premiums
Monthly premiums are payable by bank debit order unless we have agreed otherwise, but only as an interim arrangement.
Your very first premium must be paid on time in advance; there is no grace period.
A grace period is where we have agreed to keep you covered for a specific period, although your premium for that period has not been paid on time. The grace period always ends on the date the next premium is due.
If you miss a payment for any subsequent month, we will keep you covered for that month as a grace period. We will, however, request payment (by debit order) of two months' premium the next month. If we do not receive the two months' premium, or you instruct your bank to stop the payment, your policy will be automatically cancelled. This cancellation will be backdated to the date on which your first payment was supposed to have been made. No cash payment by you after the grace period, without our prior agreement, will be accepted or will reverse this cancellation.
General terms and conditions
○ Interests of financial institutions means: If any financial institution has been noted as having an interest in the insured property, we will first pay that financial institution to the extent of their interest or the sum insured stated in the schedule, whichever is the lesser amount. If you act or omit to act in a way that may make this policy invalid, the interest of the bank or financial institution will not be prejudiced if:
– the financial institution was not aware of the fact that you were in breach of the policy
– you did not put in a fraudulent claim or cause the loss or damage yourself.
You must pay any additional instalment or payment owed to the financial institution.
○ Inflation protection means the maximum amount for which you are insured on your contents and/or home will be adjusted annually in line with inflation. It remains your duty, however, to make sure that the sum insured reflects the full replacement value of the insured property at all times.
○ More than one named insured means if there is more than one named insured stated in your schedule, we will treat a statement, act, omission, claim or request to alter or cancel your policy made by one as coming from all those named as insured in your schedule.
○ Other insurance means if a claim payable under this policy is payable under any other policy we will pay only our proportional share of the claim.
○ Overlapping of duplicate cover means if an insured event occurs and there is overlapping or duplicated cover under different sections of your policy for the same loss, damage or liability you must decide under which section you will submit your claim. You may not submit separate claims under different sections of the policy for the same event.
○ Pay your premiums on time
Your premiums – whether paid monthly or annually – must reach us on time. All premiums are payable in advance, before your policy starts.
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Hollard Prestige Portfolio – Version 1.4 – 2 Feb 2023