All Risk Insurance Product

Please read this insurance document carefully to make sure it meetsyourneeds

Keep this insurance document in a safe place

Table of Contents

1 Introduction to Your Insurance Policy

2 Geographic Scope

3 Understanding this Policy

4 Termination of this Policy

5 Definitions

6 General Conditions Applicable to the Whole of this Insurance

7 What we cover you for

8 Exclusions – What is not covered


1. Introduction to Your Insurance Policy


This is your insurance policy and you should keep it in a safe place.  It is a contract of insurance between you and us, and is made up of this policy booklet, your schedule and any endorsement applying to your insurance policy.  Our acceptance of the risks insured is based on the information and statements you have provided to your broker or the information that was given on your behalf when you applied for this insurance.  You have an obligation at the start of this insurance and at renewal to supply accurate and complete answers to any questions asked during your application for this insurance, to make sure that all information supplied is true and correct, and to tell us of any changes you have given as soon as possible.

The insurance relates ONLY to those sections of the policy which are shown in the schedule as being included. 

If any details are incorrect or if it does not provide the cover you need you should return the schedule to your broker immediately.


2. Geographic Scope

This policy is only valid for policyholders with their main residence in the Republic of South Africa. 


3. Understanding this Policy

It is important that you read your policy booklet together with your schedule very carefully. Please read the whole document.  It is arranged in different sections. It is important that 

  • You understand what each section covers and does not cover
  • You understand your own duties under each section and under the insurance as a whole.

Certain words have specific meanings wherever they appear in this policy.  These words are shown in bold and are explained in the ‘Definitions’ section below.

In return for payment of the premium shown in the schedule, we agree to insure you, subject to the terms and conditions contained in or endorsed on this policy, against certain financial loss you may sustain for:

accidental, unforeseen physical loss or damage to the ALL RISK ITEM occurring anywhere in the world,

as defined in the policy during the policy period shown in the schedule.

Cover is provided for each month for which your premium is paid to your Insurer. Cover is provided for the month in which the premium is paid. In order to have continuous cover and a valid claim, you need to pay your premiums.

The insured value of your ALL RISK is contained in your Schedule. This is the maximum value your Insurer will pay in the event of a loss, less your first amount payable and any dual insurance, betterment or depreciation.

Your Insurer retains the right to settle any claim on the basis of the cost of repairs, replacement or cash settlement at their sole option. In the event that the ALL RISK ITEM:

  • Can be repaired, your Insurer will pay the costs reasonably incurred to restore it to its state of serviceability immediately before the damage. Should such costs exceed 60% of the value of the ALL RISK it will be replaced.
  • Is replaced by your Insurer they agree to pay the reasonable cost of replacement with a ALL RISK of the same or similar type but not superior to or more extensive than the existing ALL RISK.

At all times you must take reasonable steps to safeguard the ALL RISK from loss, damage or theft and any repairs to the ALL RISK must be carried out by a repairer authorised by Transact and Protect (Pty) Ltd (“TPI”).


4. Termination of this Policy

Termination by You

Cooling-Off Period

If you are a consumer you may cancel this insurance within 30 days (cooling-off period) from the date you receive your insurance policy documentation.  You will receive a full refund of any premium you have paid to us provided that no claim has been made.  We reserve the right on refunding any premium paid to us if you have made a claim under this policy. 

To exercise your right to cancel, contact your broker who arranged this cover for you.  Please be aware that your broker may charge a fee for work completed on your behalf.


You can also cancel this insurance at any time by writing to your broker.  Any return premium due to you will depend on how long this insurance has been in force and whether you have made a claim.  We reserve the right on refunding any premium paid to us if you have made a claim under this policy.

Termination by Us


We can cancel this insurance by giving you 30 days’ notice in writing to the address stated in the Schedule or at the e-mail address stated in the Schedule Any return premium due to you will depend on how long this insurance has been in force and whether you have made a claim.  We reserve the right on refunding any premium paid to us if you have made a claim under this policy.

If the premium payment is not made within 15 days of the due date, we have the right to terminate this insurance or refuse any claims.


5. Definitions

"Accident" and “accidental” means any direct physical loss caused by one event or series of 

 events arising out of one original cause or source. “Accidental” damage must be caused by acts 

 that were sudden, unexpected and not deliberate.

“Damage” means accidental loss of or damage to tangible property.

“Excess” means the amount that must be paid by you in respect of a claim or series of claims   

  arising out of one original cause or source before any amount is payable by us. 

“Insured” means the policyholder. 

“policy” means the wording and schedule read together as the contract of insurance between 

  you and us. 

“SAPS” means South Africa Police Services. 

“Schedule” means that part of the policy that specifies details of the insured, the premises, the 

  property insured and any excess, endorsements and conditions applicable. 

“We or Us or Our” means Transact & Protect as Underwriting Management Agent and/or Mutual & 

  Federal Risk Financing Limited as Insurer or their agent.

“You or Your or Yourself” means the policyholder and or insured named in the schedule.


6. General Conditions Applicable to the Whole of this Insurance

 6.1 Disclosure Duties

You must ensure that the information provided to your broker is correct and you have revealed all facts which might affect our decision to accept this insurance or any terms of this insurance. 

You must tell your broker immediately if any of the information which you have given us about you changes.  When we receive this notice, we have the option to terminate this policy or change the conditions of this insurance, but we will notify you of any changes.

If you fail to comply with any of the above duties the insurance may become invalid.  This Policy may be voidable in the event you do not take reasonable care not to make a misrepresentation of the risks which are relevant as set out under the Introduction to Your Insurance Policy section of this Policy, that is to say that there has been a material misrepresentation, mis-description or non-disclosure in such presentation.

However, we agree not to void the Policy provided that:

  • Such misrepresentation, mis-description or non-disclosure has not been deliberate or reckless;
  • If the material particular giving rise to such misrepresentation, mis-description or non-disclosure had been accurately and correctly presented, described or had been disclosed, we would have entered into the Policy on the same or different terms;
  • We shall be entitled to impose appropriate additional terms (other than premium) with effect from inception, or if applicable, the date of the alteration;
  • If at the time of loss the premium charged to you would have been higher but for the misrepresentation, mis-description or non-disclosure in any material particular, our liability for any loss amount payable shall be limited to the proportion that the premium charged bears to the higher premium.

6.2 Enforcing your rights

We may, at our expense, take all necessary steps to enforce your rights against any third party. We can do this before or after we pay a claim.  You must not do anything before or after we pay your claim to affect our rights and you must give us any help and information we ask for. 

You must take reasonable steps to make sure that you protect your rights to recover amounts from third parties.

6.3 Reporting a Claim

Your Duties

As soon as you know about any incident or circumstance that may result in a claim under your policy, you must

  • Take all reasonable steps and precautions to prevent further loss covered by your policy;
  • Report your loss to 
  • your intermediary – refer to policy disclosure notice for details
  • providing full details, as soon as practicable but in no event more than 14 days after the date your loss is first discovered by you
  • Co-operate with us fully and provide all the information we need to investigate your claim 
  • Where reasonably required by us to respond to a claim under your policy, to provide us with a power of attorney specifically for this purpose
  • Give us details of any other insurances you may have which may cover part or all of the loss covered by this policy
  • Demonstrate that you sought to recover financial loss relating to your claim from a third party, bank or financial institution that may be responsible for refunding all or part of the loss
  • Advise us if you recover money from a third party, bank, financial institution or credit provider in relation to a claim made under the policy 
  • If a claim has been paid under this policy you agree to assign your rights to us to pursue a claim and/or control any proceedings which are brought against a third party to recoup all or some of the indemnity paid
  • If a claim has been paid under this policy which you subsequently recover from a third party, bank or financial institution we are entitled to recover the indemnity paid by us to the extent that your recovery exceeds your uninsured losses

6.4 Fraudulent Claims

If any

  • Claim made under this policy by you or anyone acting on your behalf is fraudulent or intentionally exaggerated in any way
  • False declaration or statement is made
  • Fraudulent device is used to support the claim
  • Loss is caused by your wilful act or with your connivance

Then we will

  • Have no liability to pay any part of or the whole of the fraudulent claim
  • Be entitled to refuse all claims arising after the fraudulent action
  • Remain liable for legitimate claims before the fraudulent action
  • Be entitled to terminate the policy from the date of the fraudulent action whether or not the policy had expired before the discovery of the fraud

6.5 Claims Settlements

Your claims will be dealt with by Your Intermediary – refer to policy disclosure notice for details

6.6 Data Protection Act

Any information disclosed to us will be treated in strict confidence and in compliance with The Protection of Personal Information Act, No 4 of 2013. By accepting your insurance policy, you consent to Mutual and Federal Risk Finance or Transact and Protect Insure, using the information we may hold about you for the purposes of providing insurance and handling claims, if any, and to process sensitive personal data about you where this is necessary (for example criminal convictions). This may mean we have to give some details to third parties involved in providing insurance cover. These may include insurance carriers, third party claims adjusters, fraud detection and prevention services, reinsurance companies and insurance regulatory authorities. Where such sensitive personal information relates to anyone other than you, you must obtain the explicit consent of the person to whom the information relates to the disclosure of such information to us and its use by us as set out above. You have the right to apply for a copy of your information (for which we may charge a small fee) and have any inaccuracies corrected.

6.7 Contracts (Rights of Third Parties) 

A person who is not a party to this insurance has no right under the Contracts (to enforce any term of this insurance.  


7. What we cover you for

All Unspecified All Risk items are collectively referred to as All Risk in terms of this policy.

In return for paying your premium, we will cover your ALL RISK as detailed in your Schedule for accidental, unforeseen physical loss or damage to the ALL RISK occurring anywhere in the world.


8. Exclusions – What is not covered

  1. The costs of replacing, reinstating or making good wear and tear, gradual deterioration, scratching or other superficial damage to outer casings, aerials or keypads.
  2. Any loss or damage during the hire or loan of your ALL RISK to another person.
  3. Loss of or damage to your ALL RISK resulting from theft or any attempt thereat from any unattended vehicle, unless the vehicle is locked and the ALL RISK is in a concealed compartment or boot. Any such loss must involve forcible and violent entry into the vehicle.
  4. Loss or damage to batteries, other than when they are stolen or lost together with your ALL RISK.
  5. Consequential loss of any kind whatsoever.
  6. Loss of or damage to accessories.
  7. Loss of or damage to your ALL RISK arising from or contributed to by gross negligence or wilful conduct by you.
  8. Loss or damage arising from a manufacturers defect.
  9. Loss or damage resulting from political or non-political riot, strike or civil commotion, public disorder, war, invasion, terrorism or public violence or which is insurable by SASRIA (South African Special Risks Insurance Association) is excluded from this cover.
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