Page 136 - Policy Wording - Hollard Business Binder (2020-08-26)

Motor Traders
Internal and external cover
Description
Notes
Rates
Premium calculation
Motorcycles
a) Applicable to own damage limit
b) Includes theft cover
c) Includes third party liability cover of
R2 500 000
45%
Own damage limit x rate
Trailers and Caravans
a) Applicable to own damage limit
b) Includes theft cover
c) Includes third party liability cover of
R2 500 000
25%
Own damage limit x rate
Discount allowed per class of business
Panel beaters
Auto electricians/mechanic
Fitment centers
Car wash/valet service
5.5 Optional Extensions
Description
Notes
Rates
Premium Calculation
Third Party Liability
a) Cover included at R2 500 000
b) Maximum limit of indemnity R5 000 000
.9%
Limit of indemnity – R2 500 000 x rate
Contingent liability
Limits of indemnity:
a) R1 000 000
b) R2 500 000
c) R5 000 000
a) .085%
b) .095%
c) .105%
Base premium x rate
Vehicle hoists/ramps
Legal liability of passengers
Limits of indemnity:
a) R1 000 000
b) R2 500 000
c) R5 000 000
a) .075%
b) .085%
c) .095%
Base premium x rate
Vehicle hire
Special-type vehicles
Daily limits:
a) R250
b) R500
a) .5%
b) .75%
Base premium x rate
Social, domestic and pleasure Use
Tools of trade
Riot and strike
Unauthorised use of vehicles
10% 15% 15% 20%
Discount to be calculated on base premium only
Obtain number of hoists/ ramps on the Insured’s premises
Drivers to be specified on the policy schedule
Cover is extended to include special type vehicles
Cover is extended to include tools of trade
Outside RSA and Namibia
Used by employees without Insured’s permission
.500%
Base premium x rate x number of hoists/ramps
Number of specified drivers x R1 500
Base premium x rate
Base premium x rate
Base premium x rate
Base premium x rate
R1 500 p/p
.035%
.035%
.010%
.175%
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020
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