Page 156 - Policy Wording - Hollard Business Binder (2020-08-26)

Domestic Buildings
2.6 Zozo huts and the like:
2.6.1 specify and rate accordingly;
2.6.2 be careful not to insure high value construction;
2.6.3 it would be wise to limit the perils as these structures are situated outside and in the open exposed to the elements.
3. UNDERWRITE THE RISK
3.1 Value always represents replacement value.
3.2 Average is applicable.
3.3 Labourer’s cottages, living quarters and the like can be underwritten in terms of this section but care must be taken when allowing this. It serves no purpose to provide cover in terms of sub-standard construction buildings.
3.4 Gates and fences are not included and requires approval prior to acceptance.
3.5 Geysers can be replaced by solar systems but only up to the amount equal to the value of the unit to be replaced.
3.6 Minimum sums insured
Private dwellings with cottages
Each additional private dwelling with cottage
Cottages insured as a separate item including rondavels Labourer’s cottages, living quarters
R275 000
R150 000
R75 000
Decline (insurable interest)
Description
Minimum sum insured
4. RATING
Standard construction
Labourer’s cottages, living quarters
Non-standard construction including wood, thatch, asbestos, straw and the like, load by
Riot and strike
Subsidence and landslip (questionnaire required)
Minimum section premium
Annual Monthly
.275%
Decline
.750%
.025%
.100%
.300%
Decline
.750%
.025%
.100%
.375%
.550%
.750%
.025%
.100%
10% of claim minimum R500
10% of claim minimum R1 500
10% of claim minimum R750
10% of claim minimum R1 000
5% of claim minimum R2 500
R1 000 R90
4.1 Buildings
Rate
Excess
Area 1
Area 2
Farms
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020
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