Page 43 - Policy Wording - Hollard Prestige Portfolio 1.4

How we settle your claim
○ We own the motor vehicle salvage
– When we replace your motor vehicle or pay you for the total loss, your motor vehicle salvage, including any
unexpired registration becomes our property.
– If we ask, you must provide your written consent to assist us to collect any unexpired registration.
– If another party is entitled to the salvage of your motor vehicle, then we will pay you or them the sum insured, less our estimate of the salvage value and any excess. This could, for example, occur if you had purchased your motor vehicle not knowing it was used as security on a financial agreement involving the previous owner. This means the credit provider may be entitled to the salvage of your motor vehicle.
○ Mileage
We reserve the right to establish the mileage on your vehicle at any time. Where the annual mileage you agreed with us has been exceeded, your premium may be increased to that which applies to the higher mileage driven. If we become aware that the annual mileage has been exceeded at the time of a claim, we may collect the higher premium from the start of the period of insurance and the additional premium will be deducted from the claim payment.
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