SUPREME CONTENTS INSURANCE (SCI)

Transcription

1 SUPREME CONTENTS INSURANCE (SCI) POLICY WORDING SCI/CINZ/010406

2 1 ABOUT THIS POLICY 1.1 Welcome China Insurance (NZ) Company Limited is proud to be part of China Insurance Group, which has been writing insurance business since its inception in Today the Group is amongst the top insurance companies of the world with more than 20 subsidiaries spread over the globe in Europe, United States of America, Japan, Hong Kong, and South East Asia. In New Zealand, China Insurance (NZ) Company limited has been operating since 1994 and is committed to New Zealand for the long term. We are dedicated to providing you with the very best financial security in New Zealand which is supported through an extensive international reinsurance programme. We are members of the Insurance Council of New Zealand and the ISO (Insurance and Savings Ombudsman Scheme), and are also keen supporters of IBANZ (the Insurance Brokers Association of New Zealand). We continually strive for excellence as well as a reputation for paying claims in a fair and reasonable manner. We offer you the opportunity to join us in our long term goal of one day becoming one of New Zealand s foremost general insurance companies. 1.2 Your insurance policy: Your proposal and any other information you supplied us, and This policy wording, and The policy schedule 1.3 Your free look period. We will give you a full refund of your premium within the first 30 days if you are not completely happy with the policy. You can only do this if you never make a claim under it. 1.4 Your duty of disclosure When arranging this insurance, you must tell us everything you know (or could be reasonably expected to know) that a prudent insurer would want to take into account in deciding: Whether to accept your proposal, and If so, on what terms. Examples of what you must tell us include: Anything that increases the risk of a claim Any criminal offending or convictions Any previous insurance claims SCI/CINZ/010406

3 Any refusal by another insurer to insure you on standard terms, or continue to insure you on standard terms. You must tell us this every time this policy renews, and when you make any changes to it. If you fail to do this, we may avoid the policy back to when it started as if you were never insured at all. When in doubt, disclose. We treat all information confidentially. 1.5 Your rights under the Fair Insurance Code We are members of the Insurance Council of New Zealand. It promotes a code of ethics amongst its members. This is called the Fair Insurance Code The code sets out some of your rights when dealing with us. We view these as a minimum only. Please contact us if you would like to receive a copy of the Code. Alternatively, it can be located at: Premium Once you have paid, or agreed to pay, the premium, we will insure you on the terms set out in this policy. 2 HOW TO MAKE A CLAIM UNDER THE POLICY 2.1 To make a claim You must: (a) Tell us as soon as you are aware of any circumstances likely to avoid any further claim. (b) Take steps to minimize your claim, and try to avoid any further claim. (c) Complete our claim form in full if we request it. (d) Allow us to investigate the circumstances of the claim and provide any further information assistance that we need. (e) Authorize the disclosure to us of your personal information held by any other party that relates to your claim. (f) Forward to us all relevant information and correspondence as soon as you receive it. (g) Provide a statutory declaration to verify the claim, if we request it. (h) Where appropriate: SCI/CINZ/010406

4 Lay a complaint with the Police if you suspected burglary, theft, arson or intentional damage, and Take reasonable steps to obtain details of any other person, property or vehicle involved, and any witnesses. You must not: (a) Dispose of any property that you intend to claim under this policy (b) Start any repairs without our permission unless it is necessary to prevent the claim increasing. (c) Say or do anything that may prejudice our ability to: Defend, negotiate or settle any liability you may face, and Make recovery from any person who may be responsible for your loss or liability, 2.2 After you have made a claim We may take over in full any legal rights of recovery that you have. If we do so, you must fully assist us at no cost. This includes completing court documentation and attending hearings if necessary. (a) If any lost or stolen property for which we have paid a claim is later found or recovered, you must: Tell us immediately, and Hand the property over to us if we request it. (b) (c) (d) (e) You must reimburse us if you receive any money from any person ordered to make reparation to you. We have the sole right to act in your name and defend, negotiate, or settle any liability on your behalf at our expense. We may appoint our own lawyers to defend you. They will report to us. We may pay the maximum amount payable under this policy ( or any lesser amount for which the liability can be settled, plus the defense costs incurred to date. This meets our obligations under the policy in full. 2.3 Dishonest or fraudulent claims If your claim is dishonest or fraudulent in any way we may, at our discretion: (a) Decline your claim, wholly or partially, or (b) Declare this policy unenforceable from the date of the dishonest or fraudulent act. 3 COVER 3.1 Your Contents cover SCI/CINZ/010406

5 This policy covers Your Contents against sudden Accidental Loss which happens during the Period of Insurance Where cover applies Your insurance covers Contents while they are at your Home, or temporarily removed to any where in New Zealand. Your insurance does not cover Contents while they are: normally at any place other than your Home; removed from your home for temporary or permanent storage at any place, unless specified in the Schedule; removed from your Home for the purpose of selling or exhibiting them; in transit between your Home and any place where you intend to permanently reside What we will pay Subject to the following, and at our option, we will pay for the cost of repair, reinstatement or Replacement of your contents or we will pay the Current Value. you are entitled to Replacement Value for furniture, furnishings, floor coverings, and appliances, provided that the item is actually Replaced or repaired. If any item is not Replaced or repaired, you can only claim its Current Value. If it is not reasonable or possible to repair or Replace an item to exactly its condition before the Loss, then we will ensure that any repair or Replacement made to settle your claim is as reasonably comparable with that condition as is possible. The following Contents are only ever covered for Current Value: 1. written or recorded media, including but not limited to books, video or audio cassettes, floppy or compact disks, and DVD s; 2. any stamp, medal, coin, firearm, collection, or antique; 3. clothing or footwear; 4. household linen, bedding, or blankets; 5. goods purchased second hand; 6. Personal Effects; any bicycle, 7. item of sports equipment or portable musical equipment; 8. motor vehicles, motorcycles or scooters, caravans, trailers, boats or watercraft, aircraft or any other aerial device (including any spare parts, accessories, or associated equipment for any of them) SCI/CINZ/010406

6 All other items are covered for indemnity value Limits of Cover If a specific limit or amount is shown in the Policy wording or Schedule, this is the most you can claim for a Loss or a series of Losses which are caused by the same event Limits for Individual Items You can not claim more than the following limits for any items not individually shown in the Schedule as having a higher sum insured: $1500 for any individual watch or item of jewellery. In addition we will only pay a maximum of $15,000 for any one event for all watches and jewellery not individually shown in the Schedule. If any item is not Replaced or repaired, we will only pay the Current Value or 50% of the Replacement Value, whichever is the lesser; $5000 in total for any computer and associated items of computer equipment; $1000 for any item of portable communications equipment, however this cover does not extend to include computers and associated equipment; $1500 for any camera or item of camera equipment. In addition We will only pay a maximum of $5000 for any one event for all cameras and camera equipment not individually shown in the Schedule. (Note: A camera body and it s main lens will be treated as one item); $1500 for any bicycle, item of sports equipment or portable musical equipment; $1000 for any boat, outboard motor, or watercraft powered by motor or sail Limits for Types of Property You can not claim more than the following limits for any items not individually shown in the Schedule as having a higher sum insured: $1000 in total for any spare parts, accessories, or associated equipment which belong to any of the following, but which are not in or attached to them: aircraft or other aerial device; boats, outboard motors, or watercraft powered by motor or sail; motor vehicles, motorcycles or scooters (including garden implements or electric mobility scooters for personal or Home use only), caravans, or trailers whether registered for road use or not; $500 in total for any money, bullion, unset precious or semi-precious stones, negotiable securities, or documents of any type; SCI/CINZ/010406

7 $2000 in total for any stamp, medal, coin, firearm, or other collection. 3.2 Extra Cover Your insurance will also cover Contents owned by any of these people while they are permanently residing at your Home: your spouse or partner; your children and children for whom you are a legal Guardian who are: 1. under the age of 25 and unmarried; or 2. disabled and cannot live independently; your Parents; Any other person who is named in the Schedule. In addition to these definitions some sections have their own special definitions which You will need to read and understand. 3.3 Special Extensions The following extensions are automatically included in your policy and are subject to the same terms, conditions and exclusions as 3.1 where they apply: Approved Burglar Alarm Notwithstanding General Exclusion of this policy, you do not have to pay an Excess for any burglary or attempted burglary claim under this policy if the Home is fitted with an approved monitored burglar alarm which is set, monitored, and activated, at the time of the burglary or attempted burglary Children Living Away From Home This insurance will cover your children or persons for whom you are a legal guardian who are: under the age of 25 and unmarried; or disabled and cannot live independently, while they are attending any institute of learning, and living at premises supplied by such institute. However we will not cover Contents if stolen unless force, violence or threat of violence occurs Credit Cards SCI/CINZ/010406

8 If your credit or debit cards are lost or stolen and used fraudulently by any person not related to you or living at your Home, we will pay up to $500 provided that the Loss can not be recovered from any other source. (Note: PIN numbers must not be written on, or kept with, your cards.) Death Benefit If you or anybody covered by this policy dies within 60 days as a direct result of injuries received at your Home during a fire, burglary, or theft covered by this policy, we will pay $10,000 to that person s personal legal representative. The maximum amount payable under this extension is $15,000. We may, at our discretion: divide the above limit equally if two or more persons die as a result of any one event, or; make payment to the deceased person s estate, if they have no personal legal representative Frozen Foods This insurance will cover Loss of any frozen or perishable food contained in any refrigeration equipment at your Home, which is caused by Accidental stoppage or breakdown of that equipment Gradual Deterioration Damage This extension will cover gradual deterioration, mildew, or rot, caused by the leaking of any internal water pipe, tank, or waste disposal pipe, provided that: the leak first occurs during the time that you both own and occupy the Home, and you take immediate steps to minimise the Loss, and prevent further Loss as soon as you are aware of it. We will pay up to $1000 for any Loss covered under this extension Home-Office Contents We will pay up to $10,000 in total for your household Contents which are also part of an office or business run from your Home. Cover whilst the Contents are at your Home is limited to the policy sub-limits shown in the schedule for individual items and types of property. In addition to the sub-limits noted above you can not claim more than the following limits: $1000 in total for any samples or stock in trade; $1000 in total for any plant, machinery or tools of trade; $1500 in total for any Loss or damage which occurs away from the Home, subject always to the other limits listed in this section. This insurance does not cover any of the following: SCI/CINZ/010406

9 Contents used only for business; Customers goods; Legal liability which arises with respect to the business; Contents which are covered by any other insurance. Inflation Protection In order to keep pace with the increased cost of goods, we may adjust your Sum Insured and premium each year in line with any changes in the costs of goods during the past 12 months Keys and Locks If the keys to your Home are stolen, or if there are reasonable grounds to believe they have been duplicated without your permission, we will pay up to $500 towards the costs of replacing them or altering the locks which they are used for Limit Increase for Unspecified Items Your policy normally limits the amount we will pay on some items to $1500. However if your sum insured is $50,000 or more, we will increase the amount you can claim for any unspecified camera, watch, or jewellery to $2500 per item Natural Disaster Damage Your Contents are covered by the Earthquake Commission (EQ Cover) for Loss caused by earthquake, natural landslip, volcanic eruption, hydrothermal activity or tsunami, as defined in the Earthquake Commission Act We will pay the difference between the amount paid by EQ Cover and the amount payable under this Policy, however you are not covered for: any Excess which applies to EQ Cover; your Loss if for any reason EQ Cover is not payable, or is not paid. Protection of your Sum Insured We will not reduce the cover on your Contents by the amount of any claim for material Loss provided you carry out all reasonable recommendations we make to prevent further Loss Temporary Accommodation If your Home cannot be lived in because of Loss covered by this Policy or EQCover, and you are not covered by any other insurance, We will reimburse you for the reasonable costs of temporary accommodation. (This includes the reasonable costs of boarding out domestic pets normally kept at your Home.) We will pay for a period up to 6 months, but not more than 30% of the Sum Insured. This amount is in addition to the Sum Insured Temporary Storage of Furniture SCI/CINZ/010406

10 If your Home cannot be lived in because of a Loss covered by this Policy we will reimburse you for the reasonable costs of temporary storage of your furniture. We will pay you for a period of up to 6 months but not more than 20% of the Sum Insured Wedding and Christmas Presents This insurance will also cover Contents that are temporarily at your home, which are Wedding or Christmas gifts for other people. 3.4 Specified Items: If you wish to cover valuable items for more than the unspecified item limit shown in this policy, you need to tell us which items, and what value you want to insure them for. When covered, these will be shown on your Schedule with an individual Sum Insured for each item. When the following words are used in this section, this is what they mean: Specified Items means items which you insure for a greater value than those which are shown in under Limits for Individual Items and Limits for Types Of Property Your Cover If you wish to cover your jewellery or other items for Replacement Value, you must: 1. elect to take out this extension; have each item specified on the Schedule; 2. pay an additional premium; 3. obtain a valuation certificate from either a Registered Jewellery Appraiser who is a member of the Jewellery Appraiser's Association of New Zealand, or in the case of non-jewellery items, someone appropriately qualified to appraise the value of those items. This must be supplied to us at the start of the cover and every two years after that at the Policy anniversary date. Each valuation certificate must include: full and accurate details of each item; an estimate of the Replacement Value of each item; the Current Value of each item, and must be signed under seal of the Jewellery Appraisers Association of New Zealand showing the Appraisers Official Number. In the case of non-jewellery items, other appropriate proof of the appraisers qualifications may be used. We reserve the right to confirm independently, the value of any items which you specify What we will pay SCI/CINZ/010406

11 At our option we will pay for the Replacement or repair of your Specified Items as near as practicable to their condition when new, or we will pay the Current Value. If it is not practicable or reasonable to Replace or repair any item to exactly its condition when new, we will ensure, as much as is reasonably practicable, that any repair or Replacement is comparable to, but not better than, the Specified Item s condition when new, taking into account current materials and methods of manufacture. If you do not supply a new valuation certificate every 2 years at the Anniversary Date of Your Policy any claim after that date will be based on the Current Value of the Specified Item/s as stated in the last valuation certificate you supplied. The most we will pay you for a claim in respect of any Specified Item is the Replacement Value shown in the Schedule, however if any item is not Replaced or repaired, we will only pay the Current Value or 50% of the Replacement Value, whichever is the lesser When and where Cover applies This section covers items specified in the Schedule anywhere in New Zealand. 4.0 YOUR PERSONAL LIABILITY This insurance will cover your legal liability which results from an Accident which happens during the Period of Insurance and which causes: Loss to property owned by; or Death, bodily injury or illness to, any person other than you, your family or other person with whom you reside. This cover will also include the payment of any costs or expenses incurred by you with our prior consent. 4.1 What we will pay This insurance will pay up to $1,000,000, inclusive of any costs and expenses for any Loss or series of Losses which result from the same Accident. 4.2 We will not pay This insurance does not cover you if your liability arises out of or is caused by: any mechanically propelled vehicle (other than garden implements or electric mobility scooters for personal or Home use only), trailer, caravan, watercraft, aircraft or aerial device, or vehicle required to be registered for road use; any person employed by you, working at your Home, who has their own liability insurance; any business, trade, or profession, or anything done in connection with any of them; any act done in connection with the operation of farm (including horticulture farm), whether conducted as an income generating activity or as a hobby or interest; the ownership of land or buildings or other property; SCI/CINZ/010406

12 4.2.6 loss to property which is owned by, or which is in the possession or control, anybody covered by this policy, or property which is covered under this policy bodily injury to anybody covered by this policy or to members of their families; your having agreed to accept liability, including any contract or agreement (except where you would have been liable even in the absence of a contract or agreement); being a tenant other than from fire, explosion, water damage, or accidental breakage of fixed glass (but not part of any glasshouse), wash basin, sink, bath, laundry tub, lavatory pan or cistern. Also we will not pay for any liability arising out of New Zealand. 5 UNOCCUPIED PROPERTY 5.1 If your Home is unoccupied for more than 21 days you must ensure that: all the doors and windows are securely locked and any alarm is set, and the land is kept tidy, and all mail is cleared regularly. Failure to do these things may result in us declining a claim. 5.2 Cover under this insurance is suspended automatically if your Home is unoccupied for more than 60 consecutive days, unless you have given prior notice to us and received our written acceptance that cover will continue. We will have no liability to you for any Loss whatsoever occurring during the period of the suspension of cover, which will last until you occupy the Home again. 5.3 If you notify us that your Home is to be unoccupied for more than 60 days, we have the right to change the terms of this insurance from the date of unoccupancy. Unless we notify you otherwise your normal terms of cover will resume as soon as you occupy the Home again. 6 GENERAL EXCLUSIONS General Exclusions apply to all parts of this insurance. These exclusions are in addition to any specific exclusions contained elsewhere in this insurance. 6.1 There is no cover under any part of this insurance for any Loss or liability caused directly or indirectly in any way by any of the following: failure by any device or appliance to recognize any character or value for a date as it s true calendar date. You are covered, however, for resultant Loss of a type that is covered by this insurance, and is not excluded by any other provision of this insurance; war, invasion, act of foreign enemy, warlike operations (whether war has been declared or not); SCI/CINZ/010406

13 6.1.3 civil war, rebellion, revolution, insurrection, military or usurped power; confiscation, nationalization, or requisition by the order of Government, local body, or authority, unless it is to prevent a Loss for which a claim would otherwise have been covered by a part of this insurance; nuclear weapons material, ionizing radiations, or contamination by radioactivity from any nuclear fuel, or from any nuclear wastes which result from the combustion (including self-sustaining process of nuclear fission) of nuclear fuel; earthquake, volcanic eruption, hydrothermal or geothermal activity, tsunami, or any event where cover is provided under the Earthquake Commission Act 1993, except to the extent that cover is provided by the "Natural Disaster Damage " extension under this policy; land movement, settlement, cracking, subsidence, expansion, shrinkage, compaction, or erosion, except to the extent that cover is provided by the "Natural Disaster Damage" extension under this policy; underground water pressure any event where cover is provided under the Accident Rehabilitation and Compensation Insurance Act 1992, its amendments, or any act replacing it raising or shifting of your home or alterations or repairs which involve the removal of any structural support, or foundation; total or partial removal of any roofing, exterior cladding material, exterior door or window; faulty or defective material, workmanship or design; mechanical or electrical breakdown or failure, unless actual burning out occurs, but burning out of fuses or similar protective devices, or lighting or heating elements is not covered; advertised power cuts made by any electricity supply authority or company; scratching, denting or chipping; cleaning, repairing or restoring; insects, vermin, other than opossums; a deliberate act or omission by you, the consequence of which you could reasonably have expected, having regard to the nature of circumstances of such act or omission; burglary, theft or intentional damage by; any tenant; any person who is living at the Home; SCI/CINZ/010406

14 any person who is lawfully at the Home, unless the intentional damage is by the fire, explosion or impact by a land vehicle. 6.2 Your Excess; 6.3 Wear and tear; 6.4 Mildew, rot, corrosion, rust, or gradual deterioration (except as provided for under the Extension for Damage by Gradual Deterioration ); 6.5 Action of light or fading. 6.6 Building Defects & Mould exclusion In any relation to any building structure you are not insured for any loss, damage, liability, death, injury, illness, or any other form of cover otherwise available under this policy of whatsoever nature directly or indirectly caused by, or contributed tom or arise from; moisture or water or the penetration of external moisture or water; or the action of effects of mould, fungi, mildew, rot, decay, micro-organisms, bacteria, protozoa, or any similar or like forms; or the failure of any building or structure to comply with or perform to the requirements of any building code or to meet the level of performance, fitness or durability of its intended purpose. In addition, you are not insured for any costs or expenses arising out of the abating, testing for, monitoring, cleaning up, removing, containing, treating, detoxifying, neutralizing, remediating or disposal of, or in anyway responding to or assessing the effects of mould, fungi, mildew, rot, decay, micro-organisms, bacteria, protozoa, or similar or like forms. This exclusion shall not exclude damage that is caused by, or arises out of leakage of internal water pipes, waste disposal pipes or cisterns. 7 GENERAL CONDITIONS 7.1 Comply with the policy you must meet the following conditions before we pay you: you must comply with all the policy terms, and All statements and answers, whether by you or anyone else, must be true when you: Apply for this insurance, and Notify us about any change in circumstances, and Make any claim. These conditions apply equally to anyone else entitled to claim under the policy SCI/CINZ/010406

15 7.2 Cancellation you may cancel the policy by giving us notice. We will refund to you 80% of the unexpired portion of any premium you have already paid to us We may cancel this policy at any time by giving notice to you. Cancellation will be effective from 4.00pm 14 days after the notice is given. The 14-day period starts on the day the notice is delivered or posted to you. We will refund to you the unused portion of any premium you have already paid to us. 7.3 Change in circumstances After the start of the policy, you must tell us immediately if you know about any material fact that will: Increase the risk insured, or Alter the risk insured After you have told us, we may immediately amend the terms of your policy, including the premium If you fail to tell us, we may: Declare this policy unenforceable, or Refuse to pay any subsequent claim. 7.4 Double insurance you must notify us immediately of any other insurance policy that covers any of the risks covered under this policy If there is such a policy, we will only pay over and above the limit payable under that policy. 7.5 Goods and Services Tax Where GST is recoverable by us under the Goods and Services Tax Act 1985: All Sums Insured exclude GST (unless otherwise stated), and GST will be added, where applicable, to claim payments. 7.6 Governing Law The law of New Zealand applies to this policy Any disputes about the policy are subject to the New Zealand Courts' exclusive jurisdiction SCI/CINZ/010406

16 7.7. Insurance Law Reform Acts The exclusions and conditions in this policy are subject to your rights under the Insurance Law Reform Acts 1977 and Notices Notices from you to us must be delivered personally, posted, faxed or ed to us Notices from us to you must be delivered personally, posted, faxed or ed to your last known address, or that of your insurance broker. 7.9 Take reasonable care you, and anyone else covered under this policy, must take reasonable care at their own expense to avoid circumstances that may result in a claim The claim will not be covered if you, or they, are reckless or grossly irresponsible Parties with security interests If we are advised of any party that holds a security interest over any property insured under this policy, that party is not insured under this policy unless we expressly say so However, we may pay all or part of any claim relating to that property to the holder of that security interest. Our obligations to you under this policy are satisfied to the extent of that payment you authorise us to disclose personal information about you to any holder of such a security interest Acts of Parliament Where this policy refers to any Act of Parliament, this includes any Statutory Regulations made under it. It also includes any Act or Regulations enacted in substitution Separate insurance If more than one person or entity is named as 'Insured' in the schedule, then all the parties are insured separately (as though a separate policy had been issued to each person/entity) SCI/CINZ/010406

17 However, the limits contained in this policy are the most we pay to all persons and entities combined Headings Headings in this policy are for ease of reference only. They do not form part of the policy, and are not to be used as an aid to interpretation. 8 DEFINITIONS Accident means an event or happening which is unforeseen and unintended by You. The word Accidental refers to Accident wherever it is used. Contents means household contents and Personal Effects, not permanently fitted or fixed to Your home, which are owned or hired by You or being purchased by You under a Hire Purchase Agreement if You are legally liable for them. SPECIAL NOTE: For the purposes of this insurance, Contents includes floor coverings that are loose laid or fitted using smooth edge or tacks. Contents does not include: animals, birds or fish; trees, shrubs, or plants (other than indoor pot plants); any of the following (including any spare parts, accessories, or associated equipment which are in or attached to any of them): motor vehicles, motorcycles or scooters (unless they are garden implements or electric mobility scooters for personal or home use only), caravans, trailers, boats or watercraft, aircraft or any other aerial device, except as set out later in this policy. Current Value means the reasonable cost of purchasing, in New Zealand, an item in the same general condition and which is of comparable specifications, capability, quality, and age, or it's Replacement Value less allowance for Depreciation. Depreciation means the Loss in value caused by wear and tear, decay, inadequacy, change in fashion, or obsolescence. Excess means the first amount of any claim, which you must pay, as you are not insured for this amount. Home means your residential dwelling, its outbuildings and grounds at the Situation shown in the Schedule. Loss means sudden Accidental physical Loss, damage, or destruction. Period of Insurance means the period starting at the "from" date and ending at 4:00pm on the "to" date as shown in the schedule SCI/CINZ/010406

18 Personal Effects means items of a personal nature which can be worn or carried easily. Replacement Value means the reasonable cost of purchasing a new item of comparable specifications, capability, and quality, in New Zealand. Schedule means the most recently dated Policy Schedule issued to you. This includes any Schedule that is issued if this insurance is renewed or changed. We/Our/Us means China Insurance (New Zealand) Co Ltd, sometimes also referred to as the Company. You/Your/Yourself means the person(s) or other entity named in this Schedule SCI/CINZ/010406