Page 32 - Policy Wording - Hollard Prestige Portfolio 1.4

○ Examination under oath
We have a right to examine you under oath as often as we require. We may ask you to give us a signed description of the circumstances surrounding a loss and to provide us with any records, documents, information or evidence that we request.
○ Further damage after an accident
If your vehicle is in an accident and is used or driven before the repairs have been done, you will be responsible
for the cost of repairs for any further damage to the vehicle related to the accident.
○ Items in pairs and sets
If you lose or damage an item that is part of a pair or set we will decide how to compensate you for the loss or
damage by:
– restoring, repairing, rebuilding or replacing the lost or damaged item, or
– paying you out a portion of the value in line with the total value of the pair or set.
○ If we decline a claim we will provide reasons for our decision to decline it and if your claim is lodged, we will send
you written confirmation.
○ Recovered property
In the event where a recovery of the property, motor vehicle or item from a collection has been made after we have settled a claim, we will notify you in writing. You will have the option to purchase the property, motor vehicle or item back from us. The amount payable will be the amount paid to you by us when the claim was settled.
You will have 30 days to notify us of your decision about purchasing the property or not after which we have the right to dispose of it as we see fit.
○ Settlement of your claim
We will settle all valid claims as quickly as possible. We must investigate the validity of all claims, and delays in approving claims may occur. Your cover will be limited to the amount and settlement basis stated in your schedule and your policy wording, less your excess amount. Your excess amount will be the total of your basic excess and any additional excess amounts that apply to the specific claim, as stated in your schedule.
○ Total loss
We have the right to decide when the insured property can be declared a total loss. A total loss is when the cost of repairs plus salvage or replacement of the item amounts to more than the sum insured of the item at the time of the loss.
How we settle your claim
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Hollard Prestige Portfolio – Version 1.4 – 2 Feb 2023