Page 157 - Policy Wording - Hollard Business Binder (2020-08-26)

1. GENERAL
1.1 Contents insured under this Section is Household Goods and Personal Effects.
1.2 Keep in mind the guideline provides cover in terms of goods in a built up area as well as farms. The dynamics do differ.
1.3 The property is insured at replacement value and average is applicable.
1.4 Thatch risks are dealt with in terms of the Thatch section and always apply no matter the location.
1.5 Read this section together with Domestic Buildings as the cover and perils are relevant.
2. UNDERSTAND THE RISK
2.1 location is of utmost importance;
2.2 be aware of:
2.2.1 open veld which is very relevant to farming risks;
2.2.2 taxi ranks;
2.2.3 building operations nearby;
2.2.4 near water, rivers, dams and the like;
2.2.5 history of hail and lightning;
2.2.6 history of theft and crime;
2.2.7 protection measures;
2.3 distance from police or reaction services.
3. UNDERWRITE THE RISK
3.1
3.2
3.3
3.4
Dwellings under construction has to be underwritten:
3.1.1 delete cover in terms of burglary and or theft, storm or hail and malicious damage and accidental
damage to glass and sanitary ware;
3.1.2 the Insured has to provide the underwriter with all relevant information with regards to the extent of operations to the structure;
3.1.3 this shall apply even though the building is not insured.
Business cover:
3.2.1 the policy makes provision for home enterprise;
3.2.2 in the event of a farmer it is recommended a separate Office Contents section be issued;
3.2.3 it is rather difficult to distinguish between home enterprise for a farmer and the actual farming activity.
Rooms rented out:
3.3.1 the policy makes provision for three rooms to be rented out;
3.3.2 B&B’s are not encouraged but this is common hence the restriction;
3.3.3 if more than three rooms are rented out a commercial policy must be issued;
3.3.4 generally this should only apply to farming risks.
Student accommodation
3.4.1 3.4.2 3.4.3
restricted in terms of the wording;
communes are a decline;
theft is the most common type of loss and should be considered carefully.
Householders
HOUSEHOLDERS
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020