Page 155 - Policy Wording - Hollard Business Binder (2020-08-26)

1.
GENERAL
2.
1.1 Buildings occupied as private dwelling, garages, domestic outbuildings and domestic apartments constructed of brick, stone or concrete and roofed with slate, tiles, metal, concrete or asbestos unless otherwise stated in the Schedule.
1.2 Farmers may use garages to store farming equipment and property related to the farm but likewise private property will be stored in buildings mainly used for farming activities.
1.3 With farmers it is important to insure the building where the risk is highest or applied most of the time (farming or personal).
1.4 For thatch risks, see the Thatch section.
1.5 Read this section together with Householders as the cover and perils are relevant.
UNDERSTAND THE RISK
2.1
2.2
2.3
2.4
2.5
Dwellings under construction has to be underwritten.
2.1.1 delete cover in terms of burglary and/or theft, storm or hail and malicious damage and accidental
damage to glass and sanitary ware;
2.1.2 the Insured has to provide the underwriter with all relevant information with regards to the extent of operations to the structure;
2.1.3 this shall apply even though the contents is not insured;
2.1.4 major renovations should be catered for in terms of a CAR policy. If minor, increase the value to what it should be on completion.
Guesthouse use
2.2.1 up to 3 rooms allowed to be rented out as guesthouse;
2.2.2 not intended for the commercial and permanent businesses;
2.2.3 if more than 3 (three) rooms are rented out, treat as a guest house and issue a policy separately alternatively issue relevant sections to accommodate the risk.
Non-standard construction
2.3.1 non-standard construction represents any structure other than cement/concrete and iron/tile;
2.3.2 acceptance of thatch and other non-standard construction are subject to mandates and must be referred to Hollard;
2.3.3 Asbestos construction is a declined risk. However, if an existing policy it may be retained. For new business refer to Hollard.
Location:
2.4.1 where is the property located? (farm, plot, security area, suburb and the like);
2.4.2 near areas that my pose a risk? (rivers, parks, railway stations, taxi ranks, highways, construction sites, informal settlements and the like?).
Type of dwelling:
2.5.1 2.5.2 2.5.3
construction is important;
purely private or what other activities on the premises? fully built up or in process?
Domestic Buildings
DOMESTIC BUILDINGS
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020