Terms & Conditions Insurance


Information that needs to be correct

In order to ensure that we have your correct details, and to help speed up the settlement of any claim, it is very important that you advise us if any of your information recorded is incorrect, as well as of any changes in the future: Address, Account Holder and Company Information or Banking Details. To make changes to your details, send us an Email to [email protected] or Fax to 086 6720496.

Premium Obligations

Your premiums are payable in advance for the month or exhibition period ahead. In the case of monthly customers, payment is due by the 7th of each month. If you have chosen a debit order payment method, the premiums will be deducted with your WAPPoint Subscriptions in the beginning of each month. If the premium for your policy is not received timeously, you will not have cover for the period for which you did not pay

Your Excess

Your Excess is payable as soon as the claim has been approved. Excess is calculated by the difference between replacement value and claim paid

Circumstances in which benefits will not be provided

a) Incorrect information or non-disclosure or misrepresentation of information may influence an insurer on any claims arising from your contract of insurance and may influence the insurer’s decision to accept or terminate your policy.
b) It is very important that you tell us as soon as possible if any of the details on your schedule change. Failure to do so could result in your claim being declined.
c) Theft or Loss of the insured Terminal that was not reported to the police within 48 (forty-eight) hours after it was Stolen will result in your claim being declined.
d) Outstanding Premiums or overdue premiums will result in your claim not being paid out.
e) Damage to the property is not covered in this premium. Damages will be charged for according to the current rate or value of the item that is damaged.
f) Only theft or loss of the property as a whole will be covered, eg machine, base & charger. If property uses rented SIM cards, the replacement cost of the SIM card will be billed.
g) Theft of loss of individual items such as SIM Cards, Chargers, Bases, Bags, Adapters, etc are not covered by Terminal Insurance and will be billed individually if they are lost / stolen
h) Claims due to Damage or Loss of Terminal from a political or non-political riot, strike, civil & public violence, war, terrorism, load shedding & natural disasters will not be approved
i) Damage or Loss during the lease of the insured Terminal to a third party will not be covered.
j) Claims due to no usage on the Terminal prior to date of Loss, Theft or Damage, will not be covered.

Specific exceptions

The company shall not be liable for: Loss of the property resulting from or caused by
a) theft from any unattended vehicle in the custody or control of the insured or any principal, partner, director or employee of the insured unless the property is contained in a completely closed and securely locked vehicle or the vehicle itself is housed in a securely locked building and entry to or exit from such locked vehicle or building is accompanied by forcible and violent entry or exit;
b) theft from any unattended vehicle unless the property was contained out of sight in a securely locked boot or glove compartment
c) theft due to negligence by any person i.e. leaving the device unattended in any public place.
d) detention, confiscation or requisition by customs or other officials or authorities;
e) loss of or damage to cash, bank and currency notes, coins, bonds, coupons, stamps, negotiable instruments, title deeds, manuscripts or securities of any kind.
f) dishonesty of any chief , partner or director whether acting alone or collectively with others;
g) “wear and tear” or gradual decline, including the gradual exploit of climatic or atmospheric conditions

Specific Conditions

If the total value of property insured which is not separately and individually specified is, at the time of the happening of any loss of such property, of greater value than the sum insured thereon, the insured shall be considered as being his own insurer for the difference and shall bear a rateable share of the amount of the loss. Each item of the schedule covering such property shall be separately subject to this condition. The basis upon which the amount payable is to be calculated shall be the replacement of the property by similar property in a condition equal to, but not better nor more extensive than, its condition when new provided that if, at the time of replacement, the sum representing the cost which would have been incurred in replacement if the whole of the property had been lost, exceeds the sum insured thereon at the commencement of the loss, then the insured shall be considered as being their own insurer for the difference and shall bear a rateable proportion of the loss accordingly. 


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