Page 17 - Policy Wording - Hollard Prestige Portfolio 1.4

General terms and conditions
– Annual premiums
If you are paying annually, you are allowed a 30-day grace period after the start of your policy to settle your payment. If you miss this deadline, your policy will automatically lapse. Any claims you may make during the grace period will not be settled until you pay all premiums still outstanding, or agree to them being deducted from any settlement.
○ Period of insurance means the time for which this policy is in force as stated in the schedule. If you pay your premium annually, cover continues to the anniversary date of your policy plus any period for which you renew your policy. If you pay your premium monthly, the period of cover continues for each calendar month for which you have paid the premium.
○ Precautionary measures means if you declared precautionary measures at any time during the period of insurance, or any such measure is a prerequisite for cover as stated in your schedule, you must ensure that these measures are in place and in working order at the time of loss or damage for which a claim is submitted. If these measures are not in place, fully maintained and in working order there will be no cover.
○ Proof of ownership and value means when you make a claim we may ask you to give us proof of ownership and value for what you are claiming for. This is especially important for valuables and items listed in your schedule and/ or any supplementary documentation, especially items such as jewellery, electronic items and watches.
There are some items where we will reduce or reject a claim unless you have proof of ownership and value. We have provided a further explanation on this under the section 'How we settle your claim'.
○ Reinstatement of sum insured means the sum insured stated in the schedule will not be reduced by the amount of any claim.
○ Rights to you only means nothing in this policy is intended to give any person other than you or us any right to enforce any term of this policy.
○ Special conditions means we may impose special conditions on your policy that might exclude, restrict or extend cover for a person or particular matter. Any imposed conditions will be stated in your latest schedule. It is important that you read your schedule carefully.
○ Sum insured or limit must be stated in the schedule. Any maximum amount which is left blank or has no monetary amount against it is not insured by the policy.
○ Survey means we may ask a surveyor to survey and quantify the value of your home and/or contents at any time. Based on the outcome of this survey, we may do any of the following:
– change the terms, conditions and exclusions of your insurance by giving 31 days’ notice
– increase the value of your sum insured
– cancel your insurance by giving 31 days’ notice
– treat your policy as null and void.
It is important to note that the responsibility to verify and agree that the values are adequately stated and reflected in the survey remains with you.
Hollard Prestige Portfolio – Version 1.4 – 2 Feb 2023 15