Page 163 - Policy Wording - Hollard Business Binder (2020-08-26)

4. RATING
Personal Liability
1. GENERAL
PERSONAL LIABILITY
1.1 Cover will not be granted under this section unless insurance under the Householders Section is also included.
1.2 To supplement this cover it is suggested Umbrella cover is also bought.
1.3 This section is not available as a stand-alone cover.
2. UNDERSTAND THE RISK
2.1 Make sure there are no business or commercial activities taking place at the premises.
2.2 The wording makes provision for home trade or industry but not more acute activities.
2.3 The cover is invented and intended for personal policies or the individual in his/her personal capacity only in mind.
3. UNDERWRITE THE RISK
3.1 This section pivots around the principal of “legally liable” and in the event of a farmer will only operate on the erf around the house. Make sure it is understood the cover applies to the person in his/her personal capacity.
3.2 On farming premises pets and dogs become problematic. The moment dogs are taken out to the fields, the Combined Liability section will respond.
3.3 Premises rented out are specifically excluded. In terms of farmers this extension is limited to R1 000 000 (one million rand) and can’t be increased.
3.4 Spread of fire is a real threat and while the farmer has protection against this in terms of the Combined Liability section, this cover will be provided for under this section in terms of non-farming risks.
Limit of Indemnity
Annual Premium
Monthly Pemium
R1 000 000 R50
R5 000 000 R225
R10 000 000 R400
R5
R20
R35
R15
R25
Home business extension – all limits
Umbrella cover (if selected reduce the limits above to R1 000 000):
R10 000 000 R20 000 000
Load premium by 25%
R150
R275
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020