How do I calculate the replacement/rebuilding value of my building?

Most Insurers cover the buildings on a new for old basis. This means that we replace old, damaged items with new ones following a claim (e.g. replacing a burst geyser with a new one).

In calculating the replacement value of your property, the Insurer considers the cost to demolish damaged structures, removal of debris, professional and municipal service fees and the actual costs for materials and labour before any new construction can start. These costs, like many others, are determined by the building industry.

How do I determine the value of my contents?

We can provide you with an inventory to assist you in listing the contents and determining their values. We also have specialist advisors who can assist you with any queries you may have regarding this. It is of high importance to always use the current replacement value and not the value that the item cost a few years back.

Will my goods be covered for damages while I am moving from one residence to another permanently?

Yes, you’ll receive cover if the vehicle carrying the goods has been stolen, overturned or involved in an accident and the goods are damaged. Should you make use of a professional company for transit of your contents and their employees break/steal an item/s from your contents, this will not be covered.

What happens if I underinsure my contents?

If you are underinsured, you carry part of the risk should there be a loss. For example, if your contents are covered for R100 000 and the assessor determines you should be covered for R200 000, and you lose R20 000 worth of contents in a burglary, we will settle R10 000 and you will be responsible for the remaining portion of the loss. (This is the principle of average when the percentage that you are underinsured by is applied on a claim).

Can I cover my computer for business use under my contents cover?

Yes, if you inform us that you use the laptop for business purposes. There must be a financial interest from your side. Should the laptop be the property of the company you work for then it needs to be insured by the company.

What forms do I need to complete to submit a claim?

Most Insurers will register your claim telephonically. However, some Insurers do still have claim forms that need to be completed and submitted. Speak to your broker to find out what the claims procedure is.

Can I use my own service provider?

The choice of any service provider (e.g. panel beater) rests with the Insurer and they have established a selection of approved service providers whose work is guaranteed. You can elect to choose your own repairer however we cannot guarantee the quality of their workmanship.

Will my Premium be affected if I submit a claim?

Yes. All Insurers do re-underwriting after a claim to correct the claims ratio.

I paid my excess and I wasn’t the one who caused the accident. Do I get my excess back?

The Insurer’s legal department will attempt to recover your excess from the person who caused the accident. Although they do their best, the recovery is not guaranteed. It can be a lengthy process if the other person disputes their liability or if we have to trace this person and follow up on missing information.

What is an excess?

An excess is the specified amount that you are liable to pay in the event of any claim being settled. For example, if you are in an accident and the damage amounts to R20 000, you will pay the first R2 000 (or the amount you chose to pay when your cover started) to the panel beater when you collect your vehicle once it is repaired. The Insurer then pays the difference to the panel beater.

What is a fixed excess?

A fixed excess means that no matter what the value or nature of the claim, you only pay the agreed excess amount. Insurers offers you a fixed vehicle excess which means that whether your car is damaged in an accident, written-off, stolen or hijacked you will only pay the fixed excess applicable. There are no additional excesses unless specified in the policy schedule. Insurers usually charge you a percentage of the claim, so if your stolen vehicle’s replacement value is R100 000, and the excess is 5% of the claim amount, then you will have to pay the first R 5000.

Is it worth it to select a higher excess payment?

A higher excess payment will give you the benefit of a lower premium but you will be liable for the amount chosen in the event of a claim.

If I’m not at fault in an accident, why must I pay an excess?

You are always liable for the excess. Insurers do not place blame as condition in order to determine whether you need to pay an excess or not. When you claim through your insurance policy and there is an excess applicable, you will be liable to pay the excess. Should the recovery process from the legal department be 100% successful then only the excess will be paid back to you in full.

Can I pay my premium via the Internet?

No, Insurers only work with debit order payments. This is so that we can ensure that your premiums are allocated on time and to avoid a delay in assisting you on any claims / incidents.

My premium has been returned, can I pay it into your account?

You usually have a grace period of at least 15 days in which to pay premiums that were returned by your bank. You can contact your Broker and inform them that the debit order was unsuccessful. Some Insurers will allow a double debit for the next month but this has to be arranged with your broker before the 15^th of the month in which the debit order was not honoured.

Why did my premium increase but my vehicle’s value decreased?

The annual policy review takes into account the depreciated value of the vehicle. However, this is not the only factor which determines the premium. The majority of claims paid are for accidents and not write-offs or stolen vehicles. The cost of repairs and parts constantly increase with inflation. The Insurer thus need to increase our premiums as it costs more to repair vehicles.

What is the maximum age you cover?

Standard policies: 70 years (inclusive): cover ends on your 71st birthday.We do have cover available for travellers aged 71 years to 81 years (Senior Cover).

Cover ends on the day you exceed the maximum age limit

Why is Trip Cancellation and Trip Interruption protection important on a travel insurance policy?

All travel suppliers, whether they are tour operators, hotels, travel agencies, cruise lines or airlines, have cancellation penalties. These published penalties inform you that if you cancel, the supplier will hold all or a large percentage of your monies placed as down payment, deposit or final payment. You will lose this money. Trip Cancellation and Interruption is designed to reimburse you for your loss if you cancel or interrupt for a covered reason.

What is covered under Cancellation Cover?

When you are forced to cancel your travel plans BEFORE you depart from your home country because of one of the following unforeseen/unexpected events:

• Illness, injury, death, if you are made redundant, accidental damage affecting your home, your compulsory quarantine, a terrorist attack in a city listed in your itinerary within 14 days prior to departure.

What is covered under Curtailment Cover?

When you are forced to cut short a trip you have already started (after departure from your home country) due to one of the following unforeseen/unexpected events:

• Illness, injury, death, if you are made redundant, accidental damage affecting your home, your compulsory quarantine, a terrorist attack in a city listed in your itinerary within 14 days prior to departure.

Am I covered if I work overseas?

Our travel insurance is designed for the leisure traveller (holiday) or the business traveller travelling to attend meetings or conferences. The policy does not cover manual labour unless you have declared this to us before you purchased the policy and we agreed in writing to provide cover relating to the manual labour. Our policy does not provide cover for the intention of emigration/working outside the borders of your home country for extended periods of time. Please contact our helpdesk to discuss your employment, and cover options on 0861 455 738.

I am currently overseas and have no insurance – can I still take out your policy?

No. Hollard Travel Insurance policies are all designed to be issued before you depart from your home country.

How do you define country of residence?

Your main home in the listed countries (South Africa, Botswana, Mozambique, Ghana or Namibia), where you have not spent more than 6 months abroad in the 12 months prior to buying your policy.

If I return home earlier than my policy dates, do I get a refund?

No refund is due once a trip has commenced, or after the policy has expired.

Does the travel insurance policy provide financial default coverage in the event of a supplier/airline bankruptcy?

Yes, under our Comprehensive and Business Cover. Please note that you have to purchase our policy within 24 hours of paying for your trip, and cover is effective 14 days after date of purchase. We do not cover any events that are public knowledge (where the media has issued a warning of the financial situation of the supplier).

Would my children or grandchildren be covered if they are travelling with me?

Yes. Children (natural or adopted child) under 21 years travelling on the same itinerary as the insured adults are covered, as long as their names are reflected on the policy certificate.

Once I've started my trip can I extend the travel insurance policy?

Yes, as long as it's arranged before your existing policy expires, you have not submitted a claim and you are intending to return to South Africa at the end of the extension period. Extensions are at the discretion of the underwriters. Should you wish to extend your policy you should contact us for an extension form which will need to be completed and returned at least 3 working days before your policy expires.

What happens if someone not travelling with me becomes ill or passes away? Is this covered?

An unexpected illness, injury or death of a close relative (immediate family) not travelling with you may be considered a covered reason for Trip Curtailment or Cancellation.