Page 166 - Policy Wording - Hollard Business Binder (2020-08-26)

Watercraft
3.2
3.3
Third Party Third Party Passengers Passengers Third Party
must be licenced and current;
different licences for coastal and inland water.
the outboard motor must be secured to the hull by means of locks and chains or any other acceptable method;
locked up when not in use is important and preferably on the premises of the Insured; note place of storage in the schedule.
3.1.7 Skipper
3.1.7.1 3.1.7.2
Protection
3.2.1
3.2.2 3.2.3
Acceptance limits
– Jet ski’s
(non-paying) (non-paying) – Jet ski’s in respect of water skiers
Section Liability
Maximum limit
R2 000 000 R250 000 R250 000 Decline R1 000 000
4. DECLINED RISKS
4.1 See section in the guideline for declined and referral risks;
4.2 racing, speed tests or any trials in connection therewith;
4.3 surfboards, windsurfers and similar property;
4.4 outboard motors are not insurable on their own unless the vessel of which such outboard motor forms part is insured at the same time;
4.5 rubber ducks are not a declined but not a favourite either, please avoid providing cover in terms of these body types;
4.6 jet ski’s are common but dangerous and while not declined caution must be taken when insuring these machines
4.7 houseboats and the like;
4.8 cement or concrete or similar types;
4.9 motors only;
4.10 club risks;
4.11 converted ship’s lifeboats;
4.12 commercial risks.
5. RATING
Hull (standard construction) 4.25%
Hull (non-standard construction, rubber and the like) 8.50%
Jet ski’s 10%
Personal effects 5%
10% of claim minimum R500
10% of claim minimum R1 500
10% of claim minimum R1 500
10% of claim minimum R500
10% of claim minimum R500
10% of claim minimum R750
10% of claim minimum R500
Property
Rate Premium
Excess
5.1 Hull and accessories
Fishing gear, diving equipment, ski’s, ropes, lifebelts and the like
6.5%
Electronic fish finders, binoculars and the like 7%
Trailers, trollies, launching gear and the like 3%
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020
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