Page 40 - Policy Wording - Hollard Prestige Portfolio 1.4

Your excess
○ What is an excess?
An excess is the amount you have to pay for each incident when you make a claim. We will deduct the excess from the amount of cover provided by your policy for the loss. The amount and types of excesses are stated in your schedule. Check your schedule now and familiarise yourself with the applicable excesses. The types of excesses are listed below:
– Basic excess means this excess applies to all sections of the policy wording.
– Optional cover excess means the excess applicable to optional cover.
– Additional excess means sometimes we might decide to impose an additional excess. There is a range of reasons why we might decide to impose an additional excess. If an additional excess applies it applies in addition to any other excesses.
– Excess waiver means if you selected this option it is subject to an additional premium and the basic excess applicable will be deleted unless stated otherwise in your schedule.
– Flat excess means if you selected this option it is subject to an additional premium and the basic excess applicable will be deleted unless stated otherwise in your schedule.
– Voluntary excess means if you selected this option it is subject to a discount and will be applied in addition to the basic excess applicable.
○ When multiple excesses apply: Depending on the circumstances, you might have to pay more than one type of excess when you claim.
○ One excess when you claim for your home and contents: If you have a claim for both home and contents for the same insured incident, we will calculate the excesses that apply to your home and contents separately. You do not have to pay both; you pay the higher of the two amounts only. You must pay the excess in full.
○ How to pay your excess
If your claim is approved, we will:
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ask you to pay your excess to a repairer or supplier, or
ask you to pay us the excess, or
deduct the excess from the amount of cover for the insured loss, and pay your claim.
How we settle your claim
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Hollard Prestige Portfolio – Version 1.4 – 2 Feb 2023