Page 84 - Policy Wording - Hollard Prestige Portfolio 1.4

Additional cover
When we accept a claim under your policy for an insured cause that happens during the period of insurance, you are also entitled to the additional cover. Additional cover is limited to the amount stated in the schedule. The excess in the schedule applies if specifically stated below.
○ Accidental damage means unforeseen accidental damage to the contents up to the sum insured. We do not cover loss or damage:
– caused by cleaning, repairing or restoring by any manner or method
– garden furniture
– cracking or scratching of glass, glassware or any similar breakable article – this does not apply to jewellery – mechanical, electrical or electronic breakdown.
The excess stated in the schedule applies to this cover.
○ Collection temporarily stored elsewhere
We will cover you against loss or damage to the collection when temporarily situated elsewhere for an agreed period of time.
○ Death of an artist
The agreed value will be increased by the limit stated in the schedule immediately upon the death or incapacity of the artist subject to you notifying us in writing thereof within 21 working days. The additional premium payable on the artworks will be due immediately following the death of the artist.
○ Defective title
We will pay you up to the limit stated in the schedule for a valid claim if you have purchased an item which you are subsequently required by a court of law to relinquish possession of, due to:
–
–
the vendor’s lack of title, or defective title, to the item purchased by you
any charge or encumbrance placed on the item, prior to purchase by you, of which you were not aware.
In addition:
• •
You are insured for legal costs you incur, with our prior written agreement, in defending a claim made against you for defective title arising from the above.
We will pay either the cost of the item which you are required by a court of law to relinquish possession of, or your legal liability limited to the item’s fair market value if you have already disposed of the item.
Section 4 – Fine arts
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Hollard Prestige Portfolio – Version 1.4 – 2 Feb 2023