bmw run-flat tyre cover. · 2019-11-13 · 4. exceed the number of run-flat tyres installed as...
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Sheer Driving Pleasure
BMW RUN-FLATTYRE COVER.
BMW Financial Services
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TABLE OF CONTENTS.
Section Page/s
Terms and Conditions 03
Definitions 04
Benefitspayableintermsofthispolicy 05
SpecificExclusions,ProvisionsandConditions 06-07
GeneralProvisions 08
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The BMW Group Run-Flat Tyre Cover Policy.BMW Financial Services (South Africa) (Pty) Ltd., is an Authorised Financial Services and Registered Credit Provider (NCRCP2341).
ThisdocumentcontainstheBMWGroupRun-FlatTyreCoverPolicywording.ThedetailsofthisPolicydocumenthavebeensetoutforYourinformation.ThisPolicyisunderwrittenbyGuardriskInsuranceCompanyLimited(LicenseNo.75),hereafterreferredtoas(Guardrisk)andadministeredbyInnovationFSP(Pty)Ltd(RegistrationNo.1997/005662/07)(FSPNo.21468),hereafterreferredtoas(theAdministrator)whichareAuthorisedFinancialServicesProviders.
ThisPolicyhasspecificallybeendesignedtoprovideanInsuredwhosuffersirreparabledamagetoaRun-Flattyre,asperthevalueselectedontheapplicationformandlimitedtothatreplacementvalue,subjecttotheterms,conditionsandexclusionsofthisPolicy.
TERMS AND CONDITIONS.
IntheeventofanyconflictbetweentheprovisionsofthisPolicyandthatofanyotherdocument,theprovisionsofthisPolicyshallprevail.
InreturnfortheInsuredpayingthePremiumandcontinuingtomeetalltheconditionsforcover,GuardriskwillprovideinsurancecoverundertheBMWGroupRun-FlatTyreCoverPolicyasdescribedinthisdocument.
GuardriskagreesandundertakesinfavouroftheInsured’snamedintheScheduleofInsurancetopaythebenefitsdescribedinthePolicy subjectto:
• theactualreceiptbyGuardriskatitsheadofficeofthecorrectandsufficientpremiumorpremiums;• thetruthandaccuracyoftheinformationgivenintheInsured’sScheduleofInsurance;• theTermsandConditionscontainedhereinorendorsedhereon.
OTHER MATTERS OF IMPORTANCE.
1. Youwillbeinformedofanymaterialchangestotheinformationabouttheintermediary,insurerandorunderwriterprovidedabove.2. Ifanyoftheinformationreflectedabovewasgiventoyouorally,thisdisclosurenoticeservestoprovideyouwiththeinformationinwriting.3. Ifwefailtoresolveyourcomplaintsatisfactorily,youmaysubmityourcomplainttotheOmbudofShort-TermInsurance.4. Youwillalwaysbegivenareasonfortherepudiationofyourclaim.5. Iftheinsurerwishestocancelyourpolicy,thiswillbedoneinwriting,toyourlastknownaddress.6. Youwillalwaysbeentitledtoacopyofyourpolicyatnoextracharge.
COOLING OFF PERIOD.
Shouldyounotbesatisfiedwiththepolicy,youareentitledtoaperiodofupto30(Thirty)Daysafterthepolicyhasbeenissuedwithinwhichyoumaycancelyourpolicyinwritingatnocost.Coverwillceaseuponcancellationofthepolicy.
Pleasenotethatyoumayonlycancelthispolicywithin30(Thirty)Dayswherenobenefithasyetbeenpaidorclaimedoriftheeventinsuredagainstunderthepolicyhasnotyetoccurred.
WARNING.
1. Donotsignanyblankorpartiallycompletedapplicationform.2. Keepnotesofwhatissaidtoyouandalldocumentshandedtoyou.3. Don’tbepressurisedtobuytheproduct.4. Failuretoprovidecorrectorfullrelevantinformationmayinfluencetheinsureronanyclaimsarisingfromyourcontractofinsurance.
WAIVER OF RIGHTS.
TheGeneralCodeofConductstipulatesthatnoFinancialServicesProvidermayrequestorinduceinanymanneraclienttowaiveanyrightorbenefitconferredontheclientby/orintermsofanyprovisionsofthesaidCode,orrecognise,acceptoractonanysuchwaiverbyaclient.Anysuchwaiverisnullandvoid.
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“Date of Loss”ThedateuponwhichthedamagetoorlossofTheVehicleoccurs,whichdatemustfallwithinthePeriodofInsurance.
“Days”OrdinaryDays,includingweekendsandpublicholidays.ADayshallalsomeanacontinuous24(Twenty-Four)hourPeriod.
“Dual Insurance”SituationinwhichthesameriskisInsuredby2(Two)overlappingbutindependentInsurancePolicies.
“His / Her”For“his”and“he”wheretheInsuredismaleandread“her”and“she”wheretheInsuredisfemale.
“Innovation FSP”InnovationFSPisalicensedFinancialServicesProviderforthepurposesoftheFinancialAdvisoryandIntermediaryServicesAct37of2002.
“Insured”AnInsuredshallmeanapersonorlegalentitywhohassuccessfullyappliedforthisPolicyScheduleofInsuranceandpaidforitinfull.
“Insured Event”ShouldtheInsuredItembecomeirreparablydamagedduringthePeriodofInsurance,whileusedonamaintainedSouthAfricanroad,asaresultofacut,bruise,impact,breakorpuncture,butwhichdamageshallexcludecosmetic,chemicaloratmosphericdamages,theAdministratorshallcreditYouwiththeSumInsured(asdefinedbelow)towardsthepriceofanequivalentnewRun-Flattyre.Subjecttopoint4underGeneralProvisions.
“Insured Item”InsuredItemshallmeananyspecifiedRun-Flattyre(s)fittedonYourbehalftoaspecifiedvehicle.ThecoverintermsofthisPolicyshallbeforTheVehiclespecifiedbytheInsuredonly.ThisPolicyisnotcapableofassignmenttoanyotherperson.ThisPolicyshalllapseshouldtheRun-Flattyre(s)beremovedand/ortransferredtoavehicleotherthanthespecifiedvehicleonwhichtheRun-Flattyre/swereoriginallyfitted.
AsproofofpurchaseofthetyreandthisPolicy,acopyofthedealerinvoice(s)/financeagreementrelatingtotheRun-Flattyre/sandPolicyScheduleshallberequiredtoberetainedbyYouforthedurationofthisPolicy.
“Insurer”ShallmeanGuardriskInsuranceCompanyLimitedLicenceNo.75.
“Legal Tread Limit”Thisistheminimumlegaltreadlimit/depth(hereafterreferredtoastheTreadLimit)asindicatedintheNationalRoadTrafficActNo93of1996(orasamended)andtheNationalRoadTrafficRegulations,1999(orasamended).Regulation212statesthat: Nopersonshalloperateonapublicroadamotorvehicle– i.whichisfittedwithapneumatictyre
unlesssuchtyredisplaysthroughout,acrossitsbreadthandarounditsentirecircumference,apatternwhichisclearlyvisible,andhasatreadofatleastonemillimetresindepth;or
ii.whichisfittedwithapneumatictyrewhichcontainsatyretreaddepthindicator,ifthetreadislevelwiththetyretreaddepthindicator.
“Misrepresentation”Consciousdecisiontochangethefactsastheyare,inordertomisleadaninterestedparty.ThisshallalsomeanthefailurebytheInsured,oragentsactingontheirbehalf,todisclosematerialinformationtotheInsureratthedateofapplication,thathadtheInsurerbeenawareofwouldhaveresultedinthePolicynotbeingissued.
“Period of Insurance”AsstatedinthePolicy,thePeriodofInsurancewillbeuntiltheearlierof:
1. theoriginaltreadoftheInsuredItembeingworntotheTreadLimitasdefinedaboveatthetimeofaclaim;or
2. theexpirationof1(One)or2(Two)yearsdependingonthebenefitoptionselected,fromthedateofpurchaseoftheInsuredItem;or
3. 25000(Twenty-FiveThousand)or 50000(FiftyThousand)kilometres travelledontheVehicleduringthePeriodofInsurancedependingonthebenefitoptionselected;or
4. saleofthevehicleonwhichtheRun-Flattyre(s)wereinstalled.
“Policy”TheScheduleofInsurance.
“Premium (Single)”AlumpsumpayableupfrontasstatedintheScheduleofInsuranceoranyendorsementissuedintermsofthisPolicy.
“Premium (Monthly)”ArecurringmonthlyamountpayableasstatedintheScheduleofInsuranceoranyendorsementissuedintermsofthisPolicy.
“Premium Due Date”ThePremiumpaymentdateonorbeforethedateappearingontheScheduleofInsurance.
“Run-Flat Tyre(s)”APneumaticvehicletyrethatisdesignedtoresisttheeffectsofdeflationwhenpunctured.
“Schedule of Insurance”TheschedulecontainingYourdetailsandthedetailsofTheVehicle,PeriodofInsurance,Premiumpayable,SumInsured,bankdetailsand address.
“Sum Insured”TheSumInsuredshallbecalculatedastheminimumofthevalueoftheRun-Flattyre(s)beingreplacedorthemaximumbenefitapplicabletothepremiumwhichwaspaid.ShouldYounotwishtopurchaseanewRun-Flattyre(s),YoushallforfeitYourrightonthecredit.TheSumInsuredandInsuredEventshallbedeterminedbytheAdministrator.
“Term Cover”Wherethefullpremiumfortheperiodofthecoverhasbeenreceivedinadvance.
“The Vehicle”TheVehicledescribedintheScheduleofInsuranceandwhichmaybeanyofthefollowing:lightmotorvehicles,minibuses(maximum16(Sixteen)seater),motorcycles,lightdeliveryvehiclesandpanelvansallwithagrossvehiclemassofnotmorethan3500kg.
“Tyre Identification” EachRun-Flattyrehasadescriptionwhichwillberecordedatthetimeofinsurance. “We, Us, Our”GuardriskInsuranceCompanyLimited(“Guardrisk”).AnauthorisedFinancialServicesProvider,FSPNo.26/10/75.
“You, Your”ThepersonorentitynamedastheInsuredintheScheduleofInsurance.Youmustbe18(Eighteen)yearsofageandbeapermanentresidentofSouthAfricaand/orpermanentlyresidinginSouthAfricaoraproperlyconstitutedandregisteredcompanyorTrust.
DEFINITIONS.
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BENEFITS PAYABLE IN TERMS OF THIS POLICY.SINGLE PREMIUM OPTION:
Refer to Schedule of Insurance.
Limited to a maximum benefit of R45 000 (Forty-Five Thousand Rand) per annum.
WewillpaythefitmentfeeuptoamaximumofR500(FiveHundredRand)inclusiveofVAT,wherethefitmentisdonethroughan ApprovedBMW Dealership;ifdoneatanyotherTyreFitmentCentretheR500(FiveHundredRand)Tyrefitmentfeewill notbeapplicable.
MONTHLY PREMIUM OPTION:
Limited to a maximum benefit amount of R4 000 (Four Thousand Rand) per tyre per any claimable event and limited to 2 (Two) tyres per month.
WewillpaythefitmentfeeuptoamaximumofR500(FiveHundredRand)inclusiveofVAT,wherethefitmentisdonethroughan ApprovedBMW/ Dealership;ifdoneatanyotherTyreFitmentCentretheR500(FiveHundredRand)Tyrefitmentfeewill notbeapplicable.
SPECIFIC RESTRICTIONS ON LIABILITY.
TheAdministrator’sliabilityintermsofthisPolicyshallundernocircumstances:
1. ExtendtocovervehicleswithinFleets,Taxis,vehiclesusedasTaxis,Buses,Caravans,Trailers,Commercial&CarHireVehicles,DispatchorCourierServices,DrivingTuition,TowTrucks,AgriculturalVehicles,CarHireforReward,Speedtesting,Off-roadactivitiesorvehicles withaGVMexceedingthreeandahalf(3.5)tonnes.
2. ExtendbeyondthePeriodofInsurance;3. ExtendbeyondtheSumInsured;4. ExceedthenumberofRun-Flattyres
installedasdetailedintheproposal;5. Extendtoprovidecoverintheeventthat
aclaimismadewherethedescriptionofthedamagedRun-Flattyre(s)doesnotmatchthedescriptionasrecordedatthetimeofpurchase;
6. ExtendtoRun-FlattyreshavinglessthantheLegalTreadLimit;
7. ExtendbeyondthesaleofTheVehicle.
ThisPolicyshallceasetobeinforceif:
1. theInsuredItemnolongerbelongstoYou;or
2. nopremiumhasbeenpaidbyYouintermsofthisPolicy;or
3. theInsuredasthepurchaseroftheBMWFinancialServicesRun-FlatTyreCoverPolicyisnolongertheownerofthevehicletowhichtheRun-Flattyre wasinstalled.
4. anymisrepresentationorfraud.5. thedateofexpiryoftheperiodof12
(Twelve)or24(Twenty-Four)monthsfromthestartdate.(Aspertheoptionselected).
GENERAL EXCLUSIONS ON LIABILITY.
1. ThisPolicydoesnotcoverlossordamagedirectlyorindirectlycausedby,relatedtoorinconsequenceof:
1.1 civilcommotion,labourdisturbances,riot,strike,lock-outorpublicdisorderoranyactoractivitywhichiscalculatedordirectedtobringaboutanyoftheabove
1.2 war,invasion,actofforeignenemy,hostilitiesorwarlikeoperations(whetherwarbedeclaredornot)orcivilwar
1.3 mutiny,militaryrising,militaryorusurpedpower,martiallaworstateofsiegeoranyothereventorcausewhichdeterminestheproclamationormaintenanceofmartiallaworstate of siege
1.4 insurrection,rebellionorrevolution 1.5 anyact(whetheronbehalfofany
organisation,bodyorpersonorgroupofpersons)calculatedordirectedtooverthroworinfluenceanyStateorGovernmentoranyprovincial,localortribalauthoritywithforceorbymeansoffear,terrorismorviolence.
1.6 anyactwhichiscalculatedordirectedtobringaboutlossordamageinordertofurtheranypoliticalaim,objectiveorcauseortobringaboutanysocialoreconomicalchangeorinprotestagainstanyStateorGovernmentoranyprovincial,localortribalauthorityorforthepurposeofinspiringfearinthepublicoranysectionthereof
1.7 anyattempttoperformanyactreferredtoinclause1.5or 1.6above
1.8 anyoccurrenceforwhichafundhasbeenestablishedintermsoftheWarDamageInsuranceandCompensationAct,1976(No.85of1976)oranysimilarActoperativeinanyoftheterritoriestowhichthisPolicyapplies
1.9 theactofanylawfullyestablishedauthorityincontrolling,preventing,suppressingorinanyotherwaydealingwithanyoccurrencesreferredtoinclauses1.1,1.2,1.3,1.4,1.5,1.6or1.7above
IftheInsurerallegesthatbyreasonofclauses1.1,1.2,1.3,1.4,1.5,1.6or1.7 ofthisGeneralExclusionlossordamageisnotcoveredbythisPolicy,theburdenofprovingthecontraryshallreston theInsured.
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SPECIFIC EXCLUSIONS, PROVISIONS AND CONDITIONS.
SPECIFIC EXCLUSIONS, PROVISIONS AND CONDITIONS.2. Notwithstandinganyprovisionofthis
Policyincludinganyexclusion,exceptionorextensionorotherprovisionsnotincludedhereinwhichwouldotherwiseoverrideaGeneralExclusion,thisPolicydoesnotcoverlossordamagetotheInsuredItemorexpenseofwhatsoevernaturedirectlyorindirectlycausedby,arisingoutoforinconnectionwithany actofterrorismregardlessofanycause oreventcontributingconcurrentlyor inanysequencetotheloss,damage orexpense.
ForthepurposeofthisGeneralExclusion2,anactofterrorismincludes,withoutlimitation,theuseofviolenceorforceorthethreatthereofwhetherasanactharmfultohumanlifeornot,byanypersonorgroupofpersons,whetheractingaloneoronbehalfoforinconnectionwithanyorganisationorGovernmentoranyotherpersonorbodyofpersons,includinganyactcommittedwiththeintentiontoinfluenceanyGovernmentorforthepurposeofinspiringfearinthepublicorany sectionthereof.
IftheInsurerallegesthat,byreasonofthisGeneralExclusion,lossordamageisnotcoveredbythisPolicy,theburden ofprovingthecontraryshallreston theInsured.
3. ThisPolicydoesnotcoveranylegalliability,loss,damage,costorexpensewhatsoeveroranyconsequentiallossdirectlyorindirectlycausedbyorcontributedbyorarisingfrom:
3.1 ionising,radiationsorcontaminationbyradioactivityfromanynuclearfuelorfromanynuclearwaste fromthecombustionoruseofnuclearfuel;
3.2 nuclearmaterial,nuclearfissionorfusion,nuclearradiation;
3.3 nuclearexplosivesorany nuclearweapon;
3.4 nuclearwasteinwhateverform;regardlessofanyothercauseoreventcontributionoreventcontributingconcurrentlyorinanyothersequencetotheloss.For thepurposeofthisGeneralExclusiononly,combustionshallincludeanyself-sustainingprocessofnuclearfission.
4. Thispolicydoesnotcoverloss,damage,costorexpensedirectlyorindirectlyarisingfrompermanentortemporarydispossessionresultingfromdetention,confiscation,forfeiture,impoundingorrequisitionlegallycarriedoutbycustoms,policeservices,crimepreventionunitsorotherofficialsorauthorities.
If We say that a claim is not covered in terms of the General Exclusions then You must prove the contrary.
SPECIFIC EXCLUSIONS ON LIABILITY.
The Administrator shall not be liable for/if:
1. Manufacturingdefectsinworkmanshipand/ormaterialsoftheInsuredItem.
2. LossofordamagetotherimsoralloywheelsofthevehicleonwhichtheInsuredItemswereinstalled.
3. AnyamountwhichexceedstheSumInsuredascalculated.
4. AnyRun-Flattyresdeemedtobe safelyrepairable.
5. Thecostofrepair(iftheRun-Flattyre(s)canberepaired).
6. DamagetotheRun-Flattyresifsomeotherpartofthevehicle,notrimsoralloywheels,isdamagedatthesametime.
7. TheInsuredItemsbecomeunusableandirreparableasaresultof:
7.1 vandalism; 7.2 abuse; 7.3 mechanicalirregularitiesof thevehicle; 7.4 maliciousdamage; 7.5 wearandtear.8. Lossordamagearisingfromor
contributedtobydishonestyofaprincipalmember,director,partner,employeeoragentoftheInsured.
9. NegligenceofwhatsoevernatureresultingindamagetotheInsuredItem.
10. Anyclaimwhichisnotsubmittedwithin30(Thirty)calendardaysfromDateofLossbeingirreparabledamageorlossoftheRun-Flattyre(s).
11. LossortheftoftheInsuredItems.12. ThevehicleisdeemedtobeaTotalloss
orwhereavehicleaccidentclaim issubmitted.
13. Damagecausedbyusingthevehicleattheincorrecttyrepressure.
14. Damagecausedbyincorrectwheelbalancing,defectivesteering,geometry/trackingordefectivesuspension.
15. Anyconsequentiallossesincurredas aresultofdamagetotheinsured Run-Flattyres.
16. Run-FlattyreswherethetyretreaddepthisbelowtheLegalTreadLimitwhentheincidentoccurs.
17. Lossordamagecausedbyaroadtrafficaccidentorfire.
18. Anybenefitcoveredasstandardunder anUnderlyingComprehensive InsurancePolicy.
19. Anylossnotarisingfrom accidentaldamage.
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GENERAL PROVISIONS.1. Conditions Precedent to Liability Weshallhavenoliabilityunderthis
PolicyandYoushallnotbeentitledtobeindemnifiedunderthisPolicyunless:
1.1 subjecttoProvision4under
GeneralProvisionsthePremiumhasbeenreceivedbyUsbythePremiumDueDate;
1.2 YoucomplywiththeClaimsProceduressetoutunderProvision12underGeneralProvisions.
2. Arbitration ShouldanydisputearisebetweenYou
andUsastotheamountofanyclaimunderthisPolicy,liabilityhavingalreadybeenadmittedbyUsfortheclaiminprinciple,Youmayrefersuchdisputetoarbitrationwithin90(Ninety)DaysofthedisputearisinginaccordancewiththeArbitrationAct42of1965(asamended).
3. Premium Calculation and Amendments
TheAdministratorshallcalculatethepremiumamountpayableonthevalueoftheinitialpurchasepriceoftheRun-Flattyre(s)aspertheSchedule.
4. No Premium, No Cover ThisPolicyisconditionaluponandwill
onlycomeintoeffectfollowingpaymentofthepremium.
5. Amendments to the Policy TheAdministratormayamendthisPolicy
bywayofendorsementprovidedthatanyamendmentwillnotaffecttheextentofcoveralreadyprovidedintermsofthisPolicy.AmendmentsthataffectthecoverprovidedbythisPolicyshallbecommunicatedtoYouinwritingbygivingYou31(Thirty-One)Days’noticetoYourlastknownpostaladdressbeforetheamendmenttakeseffect.
6. Cancellation and Refund of Premiums ThisPolicymaybecancelledbyYouor
Usatanytimeon31(Thirty-One)Dayswrittennoticetothelastknownaddress.InthecaseoftermpoliciesYourSinglePremiumwillberefundedonascaledeterminedbyOuractuarybasedonOurcalculationfortheunexpiredportionoftheTermPolicy,providedthatnoclaimwassubmitted,inwhichEventnoPremiumshallberefunded.
7. Misrepresentation IfanyclaimunderthisPolicyisinany
waymisrepresentedorifanyfraudulentmeansareusedbyYouoranyoneactingonYourbehalftoobtainanybenefitunderthisPolicy,orifanyoftheEventsInsuredagainstareoccasionedbyYourintentionalact,orwithYourconnivance,allbenefitsunderthisPolicyshallbeforfeited,andthePolicywillbevoidableandPremiumspaidreturnedtoyou.
8. Jurisdiction ThisPolicyissubjecttoSouthAfrican
lawandtothejurisdictionofacompetentSouthAfricancourt.
9. Rejection of Claim and Time Bar IntheEventofaclaimbeingrejected
orYoudisputethebenefitamountpaidbyUs,YouareentitledtomakerepresentationstoUsinrespectofOurdecisiontorejecttheclaimorastothemannerinwhichthebenefitamountwascalculatedforaperiod180(OneHundredandEighty)Daysfromthedateofreceiptoftheletterofrejectionorthedateoftheclaimpayment.
ThedisputeshouldberaisedwiththeInsurerpriortodisputingthematterwiththeOmbud.
Representationmustbesubmittedinwritingto:
Guardrisk Insurance CompanyLimited
RegNo:1992/001639/06 FSPNo:75 Address:Tower2,102RivoniaRoad, Sandton,2196 Tel.0116691000 Fax.0126753856 Email: [email protected]
Guardrisk Compliance Officer GuardriskInsuranceCompanyLimited P.O.Box786015,Sandton,2146 Email:[email protected] Tel.0116691039 Fax.0126753856
WhereYouarenotsatisfiedwiththeresponsefromtheInsurerYouareentitledtomakefurtherrepresentationto:
The Ombud for Short-Term InsuranceP.O.Box32334,Braamfontein,2017Tel.0117268900Fax.0117265501
IntermsofSection15oftheFinancialServicesOmbudSchemesActNo.37of2004thatonthereceiptoftheofficialreferraltotheaforementionedOmbud,anyapplicabletimebarringclauseintermsofthisPolicyortherunningofprescriptionintermsofthePrescriptionActNo68of1969,fromthedateofreferraltothedateofwithdrawalofthereferralordeterminationofthereferralbytheOmbudshallbestayed.Ifthedisputeisnotsatisfactorilyresolvedinthismanner,legalactionmaybeinstitutedagainsttheInsurerfortheenforcementoftheclaimbywayoftheserviceofsummonsagainsttheInsurer.SummonsmustbeservedontheInsurerwithin6(Six)monthsfromthedateYoureceivetheoutcomeinrespectoftherepresentationsYouhavemade,failingwhichallbenefitsinrespectofsuchclaimshallbeforfeitedandnoliabilitycanariseintermsofsuchclaim.
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10. Condition Precedent CompliancebytheInsuredoranyone
actingonbehalfoftheInsuredwithalltheterms,conditionsandwarrantiesofthisPolicyisaconditionprecedentto theAdministrator’sliabilityintermsof thisPolicy.
11. Currency and Law ThecalculationoftheSumInsured
shallbeinSouthAfricancurrencyandanyquestionsoflawshallbedecidedaccordingtoSouthAfricanlaw.
12. Claims Procedure and Notification Period
OnthehappeningofanInsuredEvent,whichmayresultinaclaimintermsofthisPolicy,theInsuredisrequiredtoapproach,thenearestTyreDealershipwithin30(Thirty)Daysoftheeventandrequestthemtocontact:
TheAdministratorClaimsDepartment:contactnumbers0860100269oremailat bmwclaims@innovation.group.Youmustmakeavailabletothetyresupplierthefollowing:
12.1 PolicySchedule,Identitydocument,vehicleanddamagedRun-Flattyre(s).
12.2 TheAdministratorwillcheckandconfirmthedetailsofthepolicyonthesystemandsendaclaimformthroughtothetyredealershipforcompletionandreturn.
12.3 TheManagerofthetyredealershipwillbeaskedtoassesstheInsuredItemandconfirmthevalidityoftheclaimontheclaimform.ApprovalforthereplacementofthenewRun-FlattyrewillbegivenbytheAdministratorinwritingtothetyredealership.WhereYouareresponsibleforanyportionofthepaymentofthereplacementRun-Flattyre,thiswillbestatedtothedealershipatthetimetheclaim isapproved.
12.4 Intheeventofavalidclaimbeingapproved,Youwillnotbeentitledtobuy/keeptheInsuredItem.OwnershipinandtotheInsuredItemshallpasstotheAdministratoragainstreceiptofthePolicybenefitbyUs.Thetyredealershipisrequiredtokeepthedamageditemattheirpremisesforaperiodofnolessthan90(Ninety)workingdays,(orsoonerwithwrittenapprovalfromtheAdministrator)afterwhichtimethedamageditemneednolongerbekept.
12.5 Uponreceiptofthevalidinvoice,thetyredealershipwillbecreditedwiththeapprovedamount.WhereYouareresponsibleforanyportionofthepayment,thiswillbestatedtothetyredealershipatthetimetheclaimisapprovedandYou areresponsibletopaythis amountimmediately.
IntheEventofaclaimbeingrejected,theInsuredisentitledtoreliefthroughcourtaction,theOmbudforShort-TermInsuranceandthecomplaintsprocessasdetailed.
Guardrisk Compliance Officer GuardriskInsuranceCompanyLimited P.O.Box786015,Sandton,2146 Email:[email protected] Tel.0116691039 Fax.0126753856
13. The Administrator’s Rights Notwithstandinganyotherconditionin
thisdocument,theAdministratorwillnotbeliableforthebenefit(s)ofthisPolicyunlessthepremiumhasbeenreceivedandsatisfactoryproofofaclaimhas beensubmittedasrequiredby theAdministrator.
14. Contract TheapplicationforthisPolicy,the
ScheduleofInsurance,thisPolicyandanyendorsementsoramendmentstogethercompriseYourPolicywithUs.ThisPolicyismadeupofnumerousbenefits,eachbenefitmustbeindividuallyappliedforandtheappropriatePremiummust bepaidfortheappropriatebenefitorbenefitsselected.
15. Reasonable Precautions Youshalltakeallreasonableprecautions
toavoidandtominimiseanyloss,failingwhichWeshallhavenoliabilityunder thisPolicy.
16. Territorial Limits CoverislimitedtoEventsoccurringwithin
theterritoriallimitsoftheRepublicofSouthAfrica.
17. Period of Grace for Premium Payment Youshallbeentitledtoaperiodof15
(Fifteen)DaysfromthePremiumDueDateinwhichtopayYourPremium.Inthecaseofmonthlypolicies,theperiodofgraceonlyappliesfromthesecondmonthofthecurrencyofthePolicy.
18. Roadworthy Condition YoushallmaintainTheVehicleina
roadworthyconditionincompliancewiththeNationalRoadTrafficAct93of1996(asamendedorsubstituted)andtheRegulationspromulgatedthereunder.WewillnotacceptliabilityforanylossordamageiftheconditionofTheVehiclecontributedtoorcausedtheEvent.
19. Hold Cover Wewillprovidefullcoveruntilthefirst
premiumpaymentisreceived,limitedto30(Thirty)days,however,allwaitingperiodsarestillapplicableandallexclusionsstillapply.
GENERAL PROVISIONS.
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MATTERS OF IMPORTANCE.
Youmustaccurately,fullyandproperlydiscloseallmaterialfacts.AllinformationprovidedbyYouoronYourbehalfisYourownresponsibility.YouneedtobesatisfiedwiththeaccuracyofanytransactionsubmittedbyanyoneonYourbehalf.
Misrepresentation,incorrectornon-disclosurebyYouofanymaterialfactsorcircumstancemayimpactnegativelyonanyclaimsarisingfromthisinsurancecontract.
GENERAL DISCLOSURES.
InsuranceproductsdevelopedbytheAdministratoraresold,onlicence,undertheIndependentIntermediariesbrandforwhichtheintermediaryisappropriatelycompensated.
COMPLAINT RESOLUTION PROCESS.
AllcomplaintsareforwardedtotheInsurer’sComplianceOfficerwhowillforwardthemattertotheresponsibledepartmentforinvestigation.Oncethematterisresolved,theoutcomeiscommunicatedtothecomplainant.Ifthecomplainantissatisfiedwiththeresponse,thematterisconcluded.Shouldthecomplainantbedissatisfiedwiththeresponse,theOmbudforShort-TermInsurancemaybecontacted.
Guardrisk Compliance OfficerGuardriskInsuranceCompanyLimitedP.O.Box786015,Sandton,2146Email: [email protected]
CONFLICT OF INTEREST POLICY.
TheAdministratorhasadoptedaConflictofInterestPolicy,[email protected]
TheAdministratorisanauthorisedFinancialServicesProviderintermsoftheFAISActandisentitledtorenderintermediaryservicesandadvicerelatingtoshort-terminsurancecategory1inrespectofpersonalandcommerciallines.TheAdministrator,whohascontractualrelationshipswithdifferentInsurers,holdsprofessionalindemnityandfidelityguaranteeinsurance.
TREATMENT OF VAT.
Youare,intermsofaSARSrulingissuedintermsofsection20(7)oftheVATAct,abletoclaiminputtaxonlyifYouareinpossessionofaPolicydocumentandproofofpayment.
TREATING THE CUSTOMER FAIRLY.
Wehavecreatedasuperiorsolution–encompassingproducts,processingandservice–tailoredtoeachofOurcustomers’requirements.Wewillatalltimes,deliverasuperiorcustomerexperience,simplifyingandimprovingbothOurclientsandtheircustomers’lives.Wewillachievethisthroughamotivatedteamofskilledpeople,absolutefairnessinOurtreatmentofOurclientsandpartnersandcomplyingwiththe6(Six)TreatYourCustomerFairlyOutcomes,namely;
• YouareconfidentthatYourfairtreatmentiskeytoOurculture;• ProductsandservicesaredesignedtomeetYourneeds;• Wewillcommunicateclearly,appropriatelyandontime;• WeprovideadvicewhichissuitabletoYourneedsandcircumstances;• OurproductsandservicesmeetYourstandardsandareofanacceptablelevel;• TherearenobarrierstoaccessOurservicesortolodgeanycomplaints.
VARIATIONS.
NovariationtothisPolicyshallbebindingontheInsurerunlessmadeinwritingandsignedbyaDirectororPublicOfficeroftheInsurerandconfirmedthereafterbypaymentoftheInsuredofthePremiumwhethervariedornot.
ThisPolicyisissuedonthebasisthatthestatementsandinformationmadeandsetforthintheapplicationandalldeclarationsmadeinrespectthereofaretrueandcorrectandconstituteafulldisclosureofallfactsandcircumstanceslikelytomateriallyaffecttheassessmentoftheriskatthetimeoftheissueofthisPolicy.
TheCompanyreservestherighttoamend,addorchangetheTermsandConditionsofthisPolicybygiving31(Thirty-One)Days’writtennoticeofitsintentiontodoso.AnyvariationsandorchangeswillbebindingonboththeInsurerandtheInsuredandcanbeappliedatanytimetotheexisting TermsandConditionsafterwrittencommunicationofthesechangeshasbeensenttotheInsured’slastknownaddressasitappearsinOurrecords atthattime.
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UNDERWRITTEN BY GUARDRISK INSURANCE COMPANY LIMITED AN AUTHORISED FINANCIAL SERVICES PROVIDER.
Guardrisk Insurance Company Limited: Reg.No.1992/001639/06FSPNo.75VATNo.4250138072Tower2,102RivoniaRoad,Sandton,2196
Complaints Department: Tel.0116691000Fax.0126753856Email:[email protected]
Compliance Department: Tel.0116691104Fax.0116753826Email:[email protected]
YoucanaccessGuardrisk’sComplaintsResolutionPolicyat:www.guardrisk.co.zaoremail:[email protected]
YoucanaccessGuardrisk’sConflictofInterestManagementPolicyat:www.guardrisk.co.za
ADMINISTRATED BY INNOVATION FSP (PTY) LTD AN AUTHORISED FINANCIAL SERVICES PROVIDER.
Reg.No.1997/005662/07VATNo.4360174033FSPNo.21468InnovationHouse,192BramFischerDrive,Randburg,2194PrivateBagX99,Bryanston,2021Web:innovation.group Tel.0860210007Fax.0860410007
Compliance and Complaints Department:Tel.0861378257Email:[email protected]
THE OMBUD SHORT-TERM INSURANCE.
P.O.Box32334,Braamfontein,2017Tel.0117268900or0860726890Fax.0117265501Email:[email protected]
THE COMMISSIONER OF SHORT-TERM INSURANCE.
Financial Sector Conduct AuthorityP.O.Box35655,MenloPark,0102Tel.0124288000Fax.0123466941
THE FAIS OMBUD.
P.O.Box74571,LynnwoodRidge,0040Tel.0124709090or0860324766Fax.0123483447Email: [email protected]
For BMW Financial Services (South Africa) (Pty) Ltd.1BavariaAvenue,RandjesparkExt.17,Midrand,1685Tel.0860100269Email:[email protected]
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BMWFinancialServices(SouthAfrica)(Pty)LtdisanAuthorisedFinancialServices(FSP4623)andRegisteredCreditProvider(NCRCP2341). InsuranceisunderwrittenbyGuardriskInsuranceCompanyLtd.,LicenceNo.75.
BMW Financial Services1BavariaAvenueRandjesparkExt.17Midrand1685
716573