Page 223 - Hollard Business Policy - Binder

Solar Power
Territorial limits
Cover is restricted to property situated in the Republic of South Africa only.
OPTIONAL CLAUSES AND EXTENSIONS (if stated in the Schedule to be included) Additional power surge
In the event of loss of or damage to the insured property due to an unexpected, temporary increase in the current or voltage of an electrical circuit, which was not caused by a direct lightning strike, the Company shall indemnify the Insured up to R100 000 (one hundred thousand rand) or the amount stated in the Schedule, whichever is the lesser, for each and every occurrence or series of losses from one event and in the annual aggregate;
PROVIDED THAT:
1. the amount payable under this Optional Extension shall be over and above the amount stated under General Provision 13. Power surge;
2. the Insured shall be responsible for the first 10% (ten percent) with a minimum of R2 500 (two thousand five hundred rand), and a maximum of R15 000 (fifteen thousand rand) for each and every claim.
Incompatibility cover
Notwithstanding anything contained to the contrary in the Policy, the indemnity by Sub-Sections A of this Section shall indemnify the Insured for costs incurred in respect of:
1. modifications or alterations to the property insured directly consequent upon indemnifiable loss or damage to ensure the operating integrity of the solar power system;
2. replacement or upgrading of legal programs to achieve compatibility with the modified or altered solar power system;
PROVIDED THAT:
1. the costs provided for in 1 and 2 above shall be necessarily and reasonably incurred to maintain normal working conditions;
2. such additional costs shall be incurred as a direct consequence of indemnifiable loss or damage in terms of Sub- Sections A of this Section;
3. the cover afforded hereunder shall be restricted to parts or components of the solar power system which are not indemnifiable under Sub-Section A hereof;
4. the indemnity by this extension shall, in respect of any one event, be limited in the aggregate to 20% (twenty percent) of the applicable total sum insured under Sub-Section A (the limit of indemnity) or R100 000 (one hundred thousand rand), whichever is the lesser.
Theft (non-forcible)
Defined Event 7 under Sub-section A – Property, is extended to include theft of externally fitted solar panel(s)/array(s) from the premises described in the Schedule;
PROVIDED THAT:
1. the Company’s liability shall be limited to R100 000 (one hundred thousand rand) or the amount stated in the Schedule, whichever is the lesser;
2. the Insured shall be responsible for the first 10% (ten percent) with a minimum of R2 000 (two thousand rand) of each and every claim.
Hollard Business Policy – Binder – Version 8 2024 Page | 221