Home Insurance FAQs FAQs

Transcription

1 Home Insurance FAQs FAQs What are the standard features of our Home Insurance? Standard features include: Fire, Explosion, Lightning and Earthquake Smoke Escape of Water or Oil Impact Falling Trees and Branches Falling Aerials Riot, Civil Commotion Malicious damage Storm or Flood Subsidence or Heave Stealing or attempted stealing See also the policy booklet for more information. How do I get a quote? You can get a quote by clicking on Get a Quote Your quote can be retrieved by entering your quote reference number and your date of birth. How do I arrange cover if I am happy with the quote I receive? If you wish to buy Bank of Ireland Home Insurance, simply buy online. Click here to get a quote. If you encounter any difficulties purchasing online, please call the Bank of Ireland Customer Hotline on How do I pay for my cover with Bank of Ireland Home Insurance? We take payment by credit card, debit card or by monthly instalments via Direct Debit. In order to limit administration costs and keep our prices competitive, please note that we are unable to accept cheques, postal orders, money orders or cash Is there an emergency Helpline available? We have arranged a 24 hour Emergency Helpline service to give you immediate access to experts in the event of an emergency. This number is

2 Is my home of Standard Construction? Your Home is of Standard construction if it is built solely of brick, stone or concrete and roofed with slate, tiles, concrete, metal (excluding corrugated iron), asphalt or a flexible weathering membrane (e.g. bitumen based / PVC / polymer / GRP) provided that the flexible weathering membrane portion of the roof does not exceed 50% of the total roof area. If your home does not fit these criteria, unfortunately we will not be in a position to provide you with cover Do I have Liability for minding children or keeping paying guests? If you choose Contents cover we have extended your Liability section to allow child minding up to 2 children and to allow you to operate a Bed & Breakfast from your home for up to 6 guests Do I need to disclose previous claims or Losses I may have made? Yes. Non disclosure of previous claims/losses (at the risk address or at another property) may result in the policy being invalidated even if such claims/losses are within acceptance criteria What are Personal Possessions? Personal Possessions are items normally worn or carried about the person and would include items such as Jewellery, Golf equipment, Luggage etc. It is not intended to cover items of value that may be covered under your Contents such as Paintings or Antiques which are defined as High Risk Items Do I need to provide a valuation for specified Personal Possessions? Yes a valuation will be required for items valued more than 15,000. These items will not be covered until we receive the valuation from you. Valuations must be in Euro values and valuations more than 2 years old would be considered to be out of date. The value of Jewellery Items tends to index to a higher value more quickly than other goods. Although we don t require a valuation for items valued at less than 15,000 when you take out your policy, in the event of a loss you will need to provide a proof of ownership such as purchase receipts, valuation certificates and instruction manuals when you make a claim. Will my policy include cover for High Risk Items? If you have chosen Contents cover you are automatically covered for a total value of High Risk items for up to 50% of your sum insured with any one item covered for up to 10% of the sum insured. High Risk items are items valuable items most likely to be taken in the event of a burglary e.g. TVs, DVD players, Paintings etc. What is the Difference between High Risk Items and Personal Possessions?

3 High Risk items are items covered within your home that are attractive to thieves in the event of a Burglary. These items would not be taken outside the Home and include such things as expensive TV/Audio Equipment or Valuable Paintings. Personal Possessions are items that are normally carried or worn about the person and would regularly be taken outside the home and include items such as Jewellery, Golf Equipment, Luggage etc For how much should I insure my Buildings? Your Buildings sum insured should represent the amount you would have to pay to re build your home again should there be a total loss, It is sometimes thought that the market value of the house, in other words the price achieved when the property is sold on the open market, is the value for which the property should be insured. This is, however, irrelevant as the market value of a property generally has little relationship to the reinstatement value. It is important to insure your home for the correct sum insured. For a copy of the Chartered Surveyors Rebuilding cost guide visit The costs of Rebuilding are calculated on a total loss situation, i.e., the house has been totally destroyed and has to be demolished and totally rebuilt. In addition to demolition and reconstruction, the costs also should allow for building surveyors /architects /quantity surveyors fees, and for value added tax. What is the typical size of my Home? The table below sets out the typical sizes of various house types as recommended by the Society of Chartered Surveyors. Please note that this is a guide only. House Type No of Bedrooms Typical Size Terraced 2 70sq Meters/753sq ft 3 95sq Mtrs/1023sq ft Semi Detached 3 95sq Mtrs/1023sq ft 4 118sq mtrs/1270sq ft Detached 4 118sq mtrs/1270sq ft Detached Bungalow 4 146sq mtrs/1572 sq ft For how much should I insure my Contents? Your contents sum insured is the total value of replacing your home contents should there be a total loss, for example in the event of a fire. To calculate your Contents sum insured you should add up the replacement cost of all Contents in each room of your home and outbuildings. It is your responsibility to get the sum insured right. If the figure you choose is too low, it will not reflect the true replacement values of your belongings and you will be under-insured meaning that any claims you make will not be paid in full. If it is too high, you will be over-insured and paying above the odds for your policy: over-valuing your possessions does not mean that you will be able to claim for higher-specification items as we will verify their cost before paying out. What are the main exclusions under my policy?

4 Wear & Tear: No insurance policy will cover your property against Wear & Tear as they are not maintenance contracts. Wear & Tear is the gradual deterioration of items over time. Damage caused by rot, fungus, woodworm, beetles, moths, insects or vermin. Mechanical or electrical faults or breakdowns. Damage caused by cleaning, dyeing, renovating, altering, re-styling, repairing or restoring an item or items. Damage caused gradually. Accidental Damage (if shown on your schedule) and Stealing are excluded when you share your home with Tenants or Paying Guests (unless there has been violent or forcible entry) Your policy covers your home against damage by Storm but cover for fences and gates is excluded Personal Possessions stolen from a motor vehicle must be from a glove compartment or locked boot. If your home becomes unoccupied for more than 45 consecutive days you must inform us as your cover could be restricted or nullified Your policy does not cover you for gradual ingress of water e.g. where water slowly seeps on an ongoing basis from a shower tray. Your policy will not cover you against faulty or defective workmanship Please see the Bank of Ireland Home Insurance Policy Booklet for full list of exclusions What protection does the personal liability coverage in my home insurance policy provide? This coverage protects you and all family members living with you against claims or lawsuits resulting from bodily injury or property damage to others for which you are negligent and legally liable, with exceptions such as intentional acts. This cover is subject to the terms and conditions contained within the Policy Booklet What is accidental damage? Accidental Damage is Damage immediately caused by external means other than a deliberate act of the Policyholder For example, accidental damage cover refers to accidents caused by mishaps - such as a child running through the house and knocking an ornament off a shelf, a spillage on your carpet or if you or a member of your

5 household hammers a nail into a pipe. Accidental Damage cover only applies if is stated in your schedule. What if I want to change the type or amount of cover after I have bought my policy? If you would like to change any of the amounts you have insured, or would like to add or delete anything from your policy, you will need to call the Home Insurance Team on They can handle all your questions over the telephone. What if my circumstances change during the time I m insured with you? Your Policy is based on the information you provide when you initially buy the policy. If, during the course of the year, your circumstances change you must let us know as soon as possible on so that We can reassess the risk, covers provided and premium charged. If you don t tell us, the policy can be declared null and void just when you need it most when you need to make a claim.. Examples of such changes include if you vacate the home, or let it out to tenants, or you have redecoration or building work done or maybe start running a Business from the home. Can I specify Pedal Cycles on my Policy? The Contents section of our policy extends to cover loss or damage to pedal cycles within your home or it s domestic outbuildings subject to the terms and conditions of the policy. If you require pedal cycle cover away from the home you will need to specify it separately on your policy. If I accidentally hit somebody with a golf ball while playing golf do I have any cover under my policy? Under the Third Party Liability section (included within Contents) you are covered up to a limit of 3 million for any amounts for which you are found negligent and become legally liable to pay in respect of death, bodily injury or illness to any third party other than you or members of your household. So if you negligently hit someone with a Golf Ball and you have Contents cover, then our claims department would consider representing you in any resulting law suit. Are Domestic outbuildings including Sheds and Garages covered? Domestic outbuildings, sheds, garages and outhouses are covered under the definition of Buildings in the policy as long as they are used for private domestic use only and not used for any commercial purposes or for the storage of commercial or business goods. The replacement cost of these outbuildings needs to be included in your Buildings sum insured. What do I do at the Annual renewal of my Policy?

6 It is essential that you re-assess your level of cover every year, based on current rebuilding and replacement costs, making allowance for any improvements or extensions you have made or any additional items that you may have purchased since your last renewal date. What is the Government Levy? This is a tax taken by the government, and comes as a percentage of the premium on all Insurance Policies in Ireland. What is a policy excess? The policy excess is the amount you are asked to contribute towards the cost of a claim under your policy. Should you have any further queries, please do not hesitate the Bank of Ireland Home Insurance team on Making a Claim What to do if my Property is lost or damaged? Take any emergency action which may be necessary to protect Your property from further Damage e.g. switch off the gas, electricity and water. If You have to arrange for a contractor to carry out emergency work, please keep the repair account which We will need to see. Inform the Claims Unit at RSA, RSA House, Dundrum Town Centre, Sandyford Road, Dublin 16. Telephone , as soon as possible for advice on how to proceed with Your claim. You will be asked to complete a claim form and/or provide all relevant information in relation to the incident and return with the relevant estimates/valuations/receipts. Check Your Policy wording carefully, to see if the loss or Damage is covered. Your Policy lists the events (e.g. Storm or Stealing) which are covered and not covered and also any general Exclusions or Conditions which apply to Your whole Policy (see pages 60-65). Remember that Your Policy is not a maintenance contract and does not cover any loss or Damage caused by normal wear and tear - no Insurance Policy does. Remember too that the amount You are entitled to claim may be reduced if Your property has not been properly maintained. We have arranged a 24 hour Emergency Helpline Service to give You immediate access to the experts who will solve Your emergency. Call any time. Is there anything else I should do? Please do not dispose of damaged items before We have had the opportunity to inspect them. Report any incident involving loss, stealing, malicious Damage or hit and run Damage to the Gardai. If someone is making a claim against You or any member of Your Household for any injury to them or Damage to their property, You must send Us full details, in writing, immediately. Any letters or legal documents You receive should be sent to Us, unanswered, without delay. It is most important that You leave Us to deal with the matter on Your behalf and do not get involved in any correspondence or conversation with the other person.

7 HOME INSURANCE IS PROVIDED BY BANK OF IRELAND INSURANCE SERVICES LIMITED. BANK OF IRELAND INSURANCE SERVICES LIMITED IS A MEMBER OF THE BANK OF IRELAND GROUP. BANK OF IRELAND INSURANCE SERVICES LIMITED IS REGULATED BY THE CENTRAL BANK OF IRELAND. BANK OF IRELAND HOME INSURANCE IS UNDERWRITTEN BY RSA INSURANCE IRELAND LIMITED. BANK OF IRELAND INSURANCE SERVICES LIMITED IS TIED TO RSA INSURANCE IRELAND LIMITED FOR THE PURPOSE OF SELLING HOME INSURANCE. RSA INSURANCE IRELAND LIMITED IS REGULATED BY THE CENTRAL BANK OF IRELAND. IT IS A PRIVATE COMPANY LIMITED BY SHARES AND REGISTERED IN IRELAND UNDER NUMBER WITH REGISTERED OFFICES AT RSA HOUSE, DUNDRUM TOWN CENTRE, SANDYFORD ROAD, DUNDRUM, DUBLIN 16. BANK OF IRELAND IS REGULATED BY THE CENTRAL BANK OF IRELAND. COVER IS SUBJECT TO UNDERWRITING REQUIREMENTS AND TERMS AND CONDITIONS APPLY. A FULL LIST OF TERMS, CONDITIONS AND EXCLUSIONS ARE CONTAINED IN YOUR POLICY BOOKLET. 13/03/2015 DK. HP. RSA