Page 158 - Hollard Business Policy - Binder

Motor
PROVISIONS
1. Suspensive sale
If, to the knowledge of the Company, the vehicle is subject to a suspensive sale or similar agreement, such payment shall be made to the owner described therein whose receipt shall be in full and final discharge to the Company in respect of such loss or damage.
2. First amount payable
In respect of each and every occurrence giving rise to a claim under Sub-Section A, the Insured shall be responsible for the first amounts payable stated in the Schedule (according to the type of vehicle) of any expenditure (or any less expenditure which may be incurred) for which provision is made under Sub-Section A (including any payment in respect of costs, expenses and fees), and of any expenditure by the Company in the exercise of any discretion it may have under this insurance. If the expenditure incurred by the Company shall include any first amount payable for which the Insured is responsible, such amount shall be paid by the Insured to the Company.
3. Fire, lightning and explosion
The first amount payable shall not be applicable to loss or damage as a result of fire, lightning or explosion.
4. Sound equipment
In respect of each and every occurrence giving rise to a claim following upon theft or attempted theft of motor radios, cassette players and any other equipment of a similar nature or telephones:
4.1 if supplied by the manufacturer when new
the replacement value of the item subject to the standard Compulsory First Amount Payable stated in the Schedule;
4.2 not supplied by the manufacturer when new (after-market installation)
not specified as a separate item in the Schedule, limited to R3 500 (three thousand five hundred rand) subject to a first amount payable of R500 (five hundred rand);
4.3 specified in the Schedule
the amount stated in the Schedule and reduced by the first amount payable stated in the Schedule.
SPECIFIC EXCEPTIONS (applicable to Sub-Section A)
The Company shall not be liable to pay for any:
1. consequential loss as a result of any cause whatsoever;
2. money paid towards the upgrade of or extension of a maintenance plan or similar expense;
3. depreciation in value whether arising from repairs following a Defined Event or otherwise;
4. wear and tear;
5. mechanical, electronic or electrical breakdown, failure or breakage;
6. damage to tyres:
6.1 by application of brakes; or
6.2 by road punctures, cuts or bursts; or
6.3 as a result of inequalities of the road or other surface or to impact with such inequalities;
UNLESS:
damage to tyres is accompanied by damage to other parts of the vehicle;
7. damage to springs/shock absorbers due to inequalities of the road or other surface or to impact with such inequalities;
8. damage to the insured vehicle caused by or attributable to the un-roadworthy condition of the vehicle;
Page | 156 Hollard Business Policy – Binder – Version 8 2024