The Sunday Mail
Sunday Mail Reporter
At HAMILTON, we don’t make any assumptions. Our premiums are based on your personal risk profile which means if you’re a low risk client, we’ll be able to provide you with a cheaper INSURANCE Premium.
We’d much rather ask you a few relevant questions to make sure that you get the best insurance product for your specific needs and that you’ll be properly insured, no matter what. Besides, every question we ask may help us find a valid excuse to save you money.
We believe that if you’re a HAMILTON client, you should be treated like royalty. You can be sure that we’ll bend over backwards to help you save you money and that we’ll pull out all the stops to make sure you receive awesome service every time you deal with us.
REMEMBER
At HAMILTON, we do our very best to work out a deal that saves you money on your insurance. We realise that without you, HAMILTON simply wouldn’t exist. That’s why you can be sure to receive awesome service every time you deal with us.
Our product range tailor made to suit your needs is as follows:
- MOTOR
At HAMILTON we offer three major cover options which you can insure your motor vehicle:
1.1 Full Third Party
This covers legal liability to third parties for damage to their property or death and bodily injury subject to our policy limit.
1.2 Full Third Party Fire & THEFT
In addition to full third party cover, it extends to cover any damage or loss caused by fire, theft or attempted theft to the insured vehicle.
1.3 Fire & Theft
This is ideal for laid vehicles if you are away on holiday. It covers the fire and theft risk aspect.
1.4 Comprehensive Cover
This covers loss or damage to your car, theft of accessories or whole vehicle and liability to third parties, also covered are medical expenses, litigation costs and towing charges.
1.5 Motor Classes Available At Hamilton
This class of insurance relates to the various types of private passenger carrying vehicles which are used for social, domestic and personal business purposes.
1.6 Commercial Vehicles
This relates to class of vehicles designed for the carriage of goods (other than light vehicles which are generally rated as private cars).
1.7 Motor Traders Insurance
This class of insurance is for motor repairers, distributors, car sales who may want to cover vehicles in their garages, showrooms and at the same time, either owned by them or being sold, repaired or serviced by the business.
1.8 Motor Fleet
This Policy is taken by a business that has a fleet of 20 or more vehicles of one or more types.
1.9 Motor Cycle
Covers motor cycles. The cover can be comprehensive, Full Third Party Fire or Theft and Full Third Party.
- MOTOR (Continued . . .)
1.10 Special Type Vehicles
These include vehicles used on construction sites, earthmoving vehicles, construction vehicles, vehicles used on mining sites and farms just to mention a few.
- FIRE AND ACCIDENT
2.1 Business Protection
This policy covers small to medium size businesses for all types of property other than that used for private or domestic purposes.
2.2 Asset All Risks
This policy covers businesses entities with sizeable asset bases against loss of or damage to property caused by:
Fire and allied perils which include storms ,burst pipes ,floods, impact (by any road vehicles, horses or cattle) ,explosion, earthquake ,aircraft non-political riots and malicious damage.
2.3 Consequential Loss / Loss of Profits
Covers loss of or reduction in Gross profit consequent upon interference or interruption to the Business caused by any of the risks covered under the Business Plan or Assets All Risks Policy.
2.4 Accounts Receivable
Covers resultant loss or damage to records of customer accounts resulting in the inability to trace or establish outstanding balances as a result of an insured peril under the Business Protection Plan or Assets All Risks Policy.
2.5 Burglary
Covers theft of contents from premises following forcible and violent entry into or exit from the premises and damage resulting from such theft or attempted theft.
2.6 Money
Covers loss of cash, cheques and other negotiable instruments due to insured perils on the premises and or in transit.
2.7 Goods in Transit
Covers accidental loss or damage to property whilst in transit by rail, road or air.
2.8 Fidelity
Covers the insured against loss of money or any other direct financial loss caused by the dishonesty of any of his employees. This applies to contract as well as all other employees.
2.9 Group Personal Accident
As an employer you require peace of mind with regards to your employees’ welfare. The personal accident policy provides you with 24 hour cover against accidental death or Injury to your employees caused by violent, visible and external means.
2.10 Farming Comprehensive
Covers all property on the farm including the following:
Crops (Field to Floor).
Livestock.
Tobacco Hail (Field to Floor).
- LIABILITY
3.1 Public Liability
Covers legal liability claims which may be brought against the insured by the public in respect of accidental death or injury and accidental physical damage to property.
3.2 Employers Liability
Covers legal liability claims which may be brought against you in respect of accidental death, injury or illness to an employee arising out of or in the course of employment.
3.3 Professional Indemnity
Offers protection for professional firms such as solicitors, architects and accountants against loss or damage suffered as a result of professional negligence.
3.4 Products Liability
Cover is intended for any company involved in manufacturing of goods. It covers the insured’s legal liabilities for death of or injury to a customer caused by a faulty product and also for any damage to their property, for example, foodstuffs with wrong ingredients can cause sickness or death; hair chemicals with wrong ingredients can cause damage.
3.5 Defective Workmanship
This form of cover is available for businesses were physical work rather than products are involved such as a vehicle or machinery repairer. For example, if a component is put back wrongly into a vehicle or machinery and an accident results then the policy would cover for the resultant damaged.
3.6 Directors and Officers liability
Payable to the directors and officers of a company, to cover damages or defense costs in the event they suffer such losses as a result of a lawsuit for alleged wrongful acts while acting in their capacity as directors and officers for the organization.
Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials and were civil and criminal actions are brought against directors/officers simultaneously.
- HOME COMPREHENSIVE POLICY
4.1 Home owners – Buildings
This covers buildings, fixtures and fittings against damage caused by: theft, fire, lightning, explosion earthquake, impact by animals; accidental damage of water pipes; accidental breakage of windows. The policy also extends to cover gate motors, and borehole pumps on condition they are secured.
4.2 Household – Contents:
Covers loss of or damage to household goods and personal effects which belong to the insured were such loss or damage occurs in the insured’s dwelling house or out building situated at the address stated in the policy schedule caused by the above mentioned perils.
4.3 All Risks:
Covers loss or damage to items which are normally worn or carried on the person. Such items include clothing, baggage, spectacles, cell phones, rings, just to mention a few. The cover is taken in conjunction with house holders insurance.
4.4 Individual Personal Accident:
Provides compensation for bodily injury or death caused by violent, accidental, external and visible means. The company will pay to the insured, or his estate the compensation stated in the schedule.
- MARINE INSURANCE
Covers the loss or damage of ships, cargo, terminals, and any transport or property by which cargo is transferred, acquired, or held between the points of origin and final destination.
5.1 Hull Insurance
Covers loss of or damage to the actual ship, yacht, motor boat, whilst being used on water, laid up and during transit to and from the lake. Cover also applies to outboard motors and ancillary equipment eg ship to shore radios etc.
5.2 Cargo
Covers loss of or damage to goods in transit. Cover is from warehouse to warehouse until final destination.
Cover is on an all risk basis and exclusions include war, nuclear disaster, wear and tear and damage due to dampness.
5.3 Third Party Liability
Insurance against claims of loss or damage for which a policyholder might have to compensate another party.
The policy covers losses resulting from acts or omissions that are legally deemed to be negligent and that result in damage to the person, property, or legitimate interests of others.
5.4 Passenger Liability
Covers death or bodily injury to passengers whilst cruising in, boarding or alighting from the boat due to negligence on the part of the insured, cover only applies to fare paying passengers.
- ENGINEERING
6.1 Contractors All Risks
Covers any unforeseen and sudden physical loss or damage to construction works and materials from any cause other than those specifically excluded and will also reimburse the cost of clearance of debris following upon any event giving rise to a claim under this insurance provided a separate sum has been entered in the schedule. It can also be extended to cover public liability.
6.2 Erections All Risks
All risk pertaining to projects of erection, testing and commissioning.
6.3 Plant All Risks
Cover is for any unforeseen and sudden physical loss or damage to plant and machinery from any cause not specifically excluded in a manner necessitating repair or replacement, whilst at the location or in the geographical area mentioned.
6.4 Electronic Equipment
Unforeseen and sudden physical loss or damage to the property insured from any cause other than those specifically excluded whilst the items are at work or rest or dismantled for the purpose of cleaning, overhauling or being shifted within the premises.
The insurance can also be extended to cover the following
Expenses for reconstruction and re-recording of information following damage covered.
Expenses for use of substitute electronic data processing equipment.
6.5 Machinery Breakdown
Cover is for unforeseen and sudden physical loss or damage to the insured property (or any part thereof) which is on the premises by causes such as defects in casting, defects in material, faulty design, bad workmanship or any other cause not specifically excluded in terms of any exception which is applicable to the policy.
6.6 Machinery Breakdown Loss of Profits
Loss of Gross Profits consequent upon interference or interruption of the business within the period of insurance caused by the perils under machinery breakdown insurance cover.
- BONDS AND GUARANTEES
HAMILTON is in a position to issue most types of local bonds and guarantees required by contractors and importers including customs and court bonds. A bond or guarantee can be described as a written understanding by the guarantor to accept responsibility for the performance of a contractual obligation entered into by the contractor liable under the contract in the event of the contractor defaulting.
7.1 Customs Bonds
7.1.1 Temporary Importation Warehouse Bond
This covers importation privileges. Where goods are temporarily imported and then exported, firms need to be exempted from duty. This is an undertaking that if goods are not taken out by a specified date, duty will be payable by the guarantor.
7.1.2 Warehouse Bonds
Customs require a bond on warehouses storing imported goods to ensure that duty is paid once the goods have been cleared and removed.
7.1.3 Removal in Transit Bonds
These cover goods in transit to another destination. For example if goods are imported from South Africa and the end user is in Zambia, the Zimbabwean freight forwarding company does not have to pay duty with respect to these goods. A removal in transit bond is put in place to ensure that goods get to the final customer without duty being paid whilst in transit.
7.1.4 Inward Processing Rebates
These cover the importation of raw materials without duty and the goods manufactured there from also being exported.
7.1.5 Agents Bond
This bond is required by Customs from forwarding and clearing companies who handle goods on behalf of other companies for the due observation of ZIMRA regulations and payment.
7.2 Construction Bonds
7.2.1 Bid Bond
This bond ascertains the seriousness of the contractor. It is seen as an assurance by the contractors that the tender procedures will be followed.
7.2.2 Performance Bond
Covers against defective workmanship and ensures work is done to specifications and standards within the required time.
7.2.3 Advance payment Bond
This bond is required to guard against the misuse of money that is paid in advance to contractors for the purchase of materials.
7.2.4 Retention Bond
This bond enables the retention monies to be released to the contractor, at the same time guaranteeing the employer that in the event of default by the contractor, such monies will be paid to the employer.
7.2.5 Maintenance Bond
Some defects are noticed 6 months or more after completion of a project, this Bond Covers costs of any defects that are realised after completion of works
7.3 Court Bonds
7.3.1 Administration of Estate Bond
The Master of High Court requires this bond to ensure that beneficiaries will not be prejudiced by mal-administration and fraud by the administrator of the estate.
7.3.2 Judicial Management Bond
This bond is required by the Master of High Court to ensure the due performance of expert management that has been called in to avoid the liquidation of a company that is experiencing financial difficulties.
7.3.3 Liquidators Bond
This bond is required by the Master of High Court to ensure the due performance of the person appointed in the liquidation proceedings of a company.
7.4 Other Bonds
7.4.1 Railway Ledger Bond
This bond is required by the National Railways of Zimbabwe from the companies that use railway carriage facilities on credit. This bond is required as security against default of the monthly payments by the respective customs.
- PRODUCT DEVELOPMENT
We are keeping our eyes open in light of developments in various sectors of the economy. Watch out for new products on this space.
- CLAIMS PHILOSPHY
At HAMILTON, we know just how inconvenient it is when you suffer a loss and you have to claim. We will do our best to process your claim as quickly as possible and get you sorted ASAP.
