Page 153 - Policy Wording - Hollard Business Binder (2020-08-26)

3.7.4 It is warranted that all pumps are maintained regularly and record kept of all maintenance.
3.7.5 It is warranted that no pump is situated and operated from below the known flood level.
3.7.6 It is warranted that all electrical equipment is protected by a lightning-protection device.
3.8 Average
Average is applicable.
3.9 Fire
3.9.1 Fire shall mean same perils as per Fire section.
3.9.2 If perils are removed the rate may be reduced.
3.9.3 The perils removed must be noted in the schedule as an exclusion.
3.10 Theft
3.10.1 It is highly unlikely a complete system will ever be stolen.
3.10.2 In the current economic climate it may well be that the system or parts thereof may be stolen and sold as scrap metal.
3.10.3 Theft concentrates therefore on electronic equipment and cables which both contain copper and other valuable substances.
3.10.4 Theft cover in isolation (applicable only to cables or the like) cannot be provided or deleted from the sum insured.
3.11 Accumulation
3.11.1 Accumulation shall mean any one land irrigated.
3.11.2 Value shall accumulate if the distance between systems is less than 250m (two hundred and fifty metres).
3.12 Damage to tyres
3.12.1 3.12.2 3.12.3
4. RATING
Comprehensive
Third Party only
Damage to tyres (Refer Hollard)
Riot and Strike
Additional excess where applicable:
a) all lightning claims
b) no filled-in tracks
c) no alarm fitted
Maximum values:
Any one system
Accumulation
Policy makes provision for values in the Section Limits in the wording.
It is suggested the values remain as is and if required, refer to Hollard for consideration.
It is unlikely that tyres will be damaged and when values are being increased the number of wheels have to be listed and rated accordingly.
Spray-Irrigation Systems and Centre Pivots
Cover options
Rate
Excess
3.75%
R500
3.5% on all tyres
1) Third Party 2) Fire
3) Theft
1) R500; plus
2) .750%; plus
3) 2.75%
10% of claim minimum R3 500
0.025%
10% of claim minimum R1 000
N/A
R500 per tyre
10% of claim minimum R1 000
5% of claim minimum R750
5% of claim minimum R1 750
10% of claim minimum R1 500
R750 000
R2 500 000
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020