Realty Classic. High Value Home and Worldwide Possessions Insurance Policy Summary. Arranged by Realty Insurances

Transcription

1 Realty Classic High Value Home and Worldwide Possessions Insurance Policy Summary Arranged by Realty Insurances

2 Realty Insurances Limited Realty Insurances Limited is an independent firm of Chartered insurance brokers based in the West End of London, specialising in bespoke insurance solutions for private clients. Realty s commitment to delivering a superior professional service began in 1950 when the company focused on the needs of clients with residences in Mayfair and Belgravia. Over the years this personal service has been extended to other discerning clients with homes elsewhere in the UK, who also require quality insurance protection for their works of art, valuables and other possessions. Realty Insurances Limited is authorised and regulated by the Financial Services Authority under reference number Realty Classic Realty has designed the Realty Classic policy so that it can be tailored to meet the individual needs of each client. The broad, yet cost effective insurance cover is supported by dedicated personal attention from Realty s knowledgeable team of professionals, who ensure that cover meets your particular requirements. The policy provides cover on a worldwide all risks basis. Unlike standard policies, it contains no restrictive warranties and has a number of additional benefits, such as agreed value sums insured, post loss depreciation cover, identity fraud, legal expenses, complimentary annual travel and interest free premium instalments. Realty Classic Policy Summary Realty Classic is a multi-section home insurance policy arranged by Realty Insurances Limited and underwritten by Royal & Sun Alliance Insurance plc, one of Europe s largest insurance companies. It is an annual contract and may be renewed each year subject to the terms and conditions then applicable. Realty Classic offers a flexible, cost effective cover for household contents, buildings, valuable articles, legal expenses and annual travel. All sections are optional except that you must select either contents or buildings cover. Full details of the sections you have chosen will be shown in your personal quotation and policy schedule. The following tables provide only a summary of the main policy benefits and the terms and conditions. For full details of these and all the terms and conditions that apply you should please read the policy document, a copy of which will be provided on completion of your contract or at any time on request. On receipt of your policy document, you will have time to decide if you wish to cancel the policy - please see Your Right to Cancel the Policy for more information. 2 High Value Home and Worldwide Possessions Insurance Policy Summary

3 Buildings Insurance If you select the Buildings insurance section, the following will automatically be included: Structure Damage Covers your home and other permanent structures on your land against loss or accidental damage. Aggravated Burglary/Criminal Assault Covers the cost of upgrading your security following an aggravated burglary/criminal assault at your home. Additional Living Expenses Covers you for the cost of alternative accommodation or loss of rent if your home is made uninhabitable by an insured cause. Trace and Access Covers the cost of tracing an escape of water or oil from your heating or water system. Damage caused to fences or gates by storm or flood is excluded. For subsidence and heave claims, you must pay the first 1,000. Cover is up to 10,000 We do not cover ongoing maintenance costs. Cover is provided for up to three years. If you select both buildings and contents cover, we will pay additional living expenses under the section with the greater sum insured. Cover is limited to the buildings sum insured. Escape of Oil Covers the cost of removing oil from your land following escape from your domestic heating installation. Cover is limited to 50,000. Trees, Shrubs, Plants and Lawns Covers damage to trees, shrubs, plants and lawns by fire, lightning, explosion, earthquake, riot, civil commotion, strike, labour or political disturbance, malicious people or vandals, theft or attempted theft, collision involving vehicles, trains, animals, aircraft or aerial devices or anything dropped from them. Third Party Liability Covers you in respect of liability as owner (not occupier) of the home or incurred by reason of the Defective Premises Act Cover is limited to 5% of the building sum insured. There is a limit for any one tree, shrub or plant of 500. Cover is limited to 5,000,000. High Value Home and Worldwide Possessions Insurance Policy Summary 3

4 Contents Insurance If you select the Contents insurance section, the following will automatically be included: Contents Loss or damage to your contents anywhere in the world. This includes your home contents, jewellery, pedal cycles and business equipment. New for Old Everything is covered on a new for old basis, from sofas and tables, to vases, ornaments, microwaves and carpets. Where repair is not possible, we will replace the items on a new for old basis with no deduction for depreciation. Additional Living Expenses Covers you for the cost of alternative accommodation or loss of rent if your home is made uninhabitable by an insured cause. Business Property If you work from home your business furniture, office machines and stationery are covered along with business computer information. Information Replacement Covers the cost of employing someone to re-enter personal computer information. Digital Downloads Covers the cost of replacing digital downloads following loss or damage to contents. Identity Fraud Covers you for expenses reasonably incurred as a result of identity fraud. Cover on the following items is limited to: Money 10,000. Securities and deeds 10,000. Jewellery 10,000. Furs 10,000. Items of precious metal 10,000. Stamps, coins and medals 10,000. Guns 10,000. Visitors personal belongings 5,000. Cover is provided for up to three years. If you select both buildings and contents cover, we will pay additional living expenses under the section with the greater sum insured. Cover is limited to 15,000. No cover for errors in computer programming. Cover is limited to 2,500. No cover for errors in computer programming. Cover is limited to 2,500. Cover is limited to 50,000 in total for any one incident. 4 High Value Home and Worldwide Possessions Insurance Policy Summary

5 Contents Insurance continued Locks and Keys Covers the cost of changing or replacing locks following theft or accidental loss of keys or damage to the locks. Cover is limited to the contents sum insured. Freezer Food Loss or damage caused by a rise or fall in temperature. Cover is limited to the contents sum insured. Credit Cards and Forgery Loss resulting from a credit card being lost or stolen. Loss resulting from a forged cheque or you accepting forged bank notes. Claims are limited to 25,000. Religious Festivals and Wedding Gifts Cover is automatically increased by 25% 30 days before and after Christmas and all other religious festivals and the wedding of any members of your family. Metered Oil Water or Gas Cover for loss of metered oil, water or liquified petroleum gas. Cover is limited to the contents sum insured. Fatal Accident We will pay 50,000 if any member of your family dies within 60 days of an injury caused by an accident in your home, aggravated burglary/ criminal assault or fire in your home, an assault in the street or an accident whilst travelling as a fare paying passenger by train, bus or licensed taxi. Hired Marquees Covers you for the accidental loss or damage to a marquee that you hire. Claims are limited to 20,000. Third Party Liability Covers you and your family in respect of liability as occupier of the home, in a personal capacity, as an employer and from unpaid charitable work. Cover is limited to 10,000,000 as an employer and 5,000,000 in all other circumstances. High Value Home and Worldwide Possessions Insurance Policy Summary 5

6 Valuable Articles Insurance If you select the Valuable Articles insurance section, the following will automatically be included: Valuable Articles Loss or damage to your valuable articles anywhere in the world. This includes your jewellery, fine arts, furs, stamp and coin collections, precious metals and musical instruments. Death of an Artist Cover is increased by 100% for any valuable item following the death of an artist. Defective title We will pay the amount you paid to purchase an item which you are subsequently required by law to relinquish. Newly Acquired Valuable Articles Covers your newly acquired valuable articles provided you tell us within 45 days of acquiring the articles. You must tell us if any item you own is worth more than 10,000. Cover is increased up to the next renewal date or the next valuation whichever is earlier. The most we will pay is 20% of the Fine Arts and Valuable articles sum insured with a limit of 25,000 per any one item. Cover is limited to 25% of your total specified sum insured in each category, up to a maximum of 500,000 for fine art and 25,000 for jewellery, furs and items of precious metals. Tenants Improvements If you are a tenant or leaseholder of your home, the following will automatically be included: Tenants Improvements Damage to any fixed additions, alterations, improvements or installations to the buildings. Unit Assessments We will pay for your share of an assessment charged against all unit owners in your residents association. Cover is up to 20% of the contents sum insured, but may be increased on application. Cover is limited to 50, High Value Home and Worldwide Possessions Insurance Policy Summary

7 Legal Expenses Insurance If you are eligible for the complimentary Legal Expenses section, the following will be included: Covers you and your family for legal expenses up to 75,000 for disputes in relation to: Personal Injury Consumer Protection Residential Employment Tax Excludes small claims and those without a reasonable chance of winning. Excludes pre-existing disputes and any starting within 90 days of the insurance cover being taken out. Annual Travel Insurance If you are eligible for the complimentary Annual Travel insurance section, the following will be included: Cancellation and Curtailment Covers you if you have to cancel your journey or cut it short as a result of specific events. Travel Delays, Missed Departure, Delayed Baggage Personal Accident Covers you if you are accidentally injured during your travel outside the UK. Emergency Medical and Travel Expenses Covers you if, during the journey, you become ill, accidentally injured or you die. All sections of Annual Travel Travelling against the advice of a medical practitioner. Cover is limited to 7,500 per policyholder. Cover is 50 where the delay exceeds 12 hours, and 25 for each 12 hours thereafter, maximum 500 in total. Cover is limited to 1,000 for missed departure. Cover is 500 for delayed baggage. Cover is limited to 25,000 for death and loss of limbs or eyes. Cover is limited to 2,000,000 per policyholder. Activities such as ski jumping, off-piste skiing without an instructor or guide, scuba diving to depths of 30 metres or more, hunting on horseback, hang gliding, parachuting or parascending, mountaineering, cliff or rock climbing, potholing and motorcycling if the engine is greater than 50cc, are not covered. High Value Home and Worldwide Possessions Insurance Policy Summary 7

8 General Conditions and Exclusions The following apply to the policy as a whole regardless of the specific cover you have selected. For full details of these and other exclusions and limits please read the policy document. General Conditions and Exclusions No cover is provided for damage caused by wear and tear, maintenance or anything that happens gradually. Limits Certain claims limits may apply to your policy. These will be shown in your policy documentation. 8 High Value Home and Worldwide Possessions Insurance Policy Summary

9 Important Information Your right to cancel the policy If, having examined your policy documentation, you decide not to proceed with the insurance, you have a statutory right to cancel the policy within 14 days, starting on the effective date of the policy or the day you receive the policy documentation, whichever is the later. To cancel, please write to Realty Insurances Limited, 58 Davies Street, London, W1K 5JF or call On receipt of your notice, Royal & Sun Alliance Insurance plc will refund any premiums already paid, except when you have already made a claim under your policy. After this initial period, you may cancel your policy by returning it to Realty or by providing notification in writing of the future date from when cancellation is to take effect. If you cancel your policy you may be entitled to a refund of premium provided no claim has been made during the current period of insurance. Claims Should you wish to claim under your Realty Classic policy you should contact Realty Insurances Limited on as soon as possible. You must provide any information or help that is asked for. You must not settle, reject, negotiate or agree to pay any claim without the written permission of Royal & Sun Alliance Insurance plc. Complaints Procedures At Realty Insurances Limited and Royal & Sun Alliance Insurance plc we aim to give customers a high standard of service at all times. If you are unhappy with the service provided for any reason or have cause for complaint please initially raise your concerns with your usual business contact at Realty at the address below. They will tell you what they will do to resolve your concerns and how long it will take. If Realty ascertains that your complaint is against Royal & Sun Alliance Insurance plc, your complaint will be passed on to a nominated contact at Royal & Sun Alliance Insurance plc within 24 hours. This will also happen if Realty believes that your complaint cannot be resolved without the involvement of Royal & Sun Alliance Insurance plc. High Value Home and Worldwide Possessions Insurance Policy Summary 9

10 Important Information continued If you wish to make a complaint direct to Royal & Sun Alliance Insurance plc, please contact the Customer Relations Office at the address below. If neither Realty nor Royal & Sun Alliance Insurance plc can resolve the matter to your satisfaction, you will be provided with a final response so that you can, if you wish, refer the matter to the Financial Ombudsman Service at the address below. If you make a complaint, your right to legal action is not affected. Realty Insurances Limited 58 Davies Street Tel: London Fax: W1K 5JF info@realtyinsurances.co.uk Royal & Sun Alliance Insurance plc Customer Relations Office crt.halifax@uk.rsagroup.com Bowling Mill Dean Clough Industrial Park Halifax HX3 5WA Financial Ombudsman Service Insurance Division Tel: (Landlines) South Quay Plaza (Mobile) 183 Marsh Wall complaint.info@financial.ombudsman.org.uk London Website: E14 9SR Compensation Realty Insurances Limited and Royal & Sun Alliance Insurance plc are both members of the Financial Services Compensation Scheme. This provides compensation in case any of its members go out of business or into liquidation and are unable to meet any valid claims under their policies. The first 2,000 of a claim is protected in full. Above this threshold, 90% of the remainder of the claim will be met. 10 High Value Home and Worldwide Possessions Insurance Policy Summary

11 Other Important Information Premiums and payments Premiums are inclusive of Insurance Premium Tax. You may pay for your policy either annually or by monthly instalments. Annual premiums may be paid by cheque, direct debit, bank transfer or debit card. Monthly instalments can only be paid by direct debit. Renewing your policy At least 21 days before each policy renewal date Realty will tell you the premium and terms and conditions that will apply for the following year. If you wish to change or cancel the cover then please tell Realty as soon as possible before the renewal date, otherwise the policy will automatically be renewed. If you pay by direct debit Realty will continue collecting premiums. This will also apply for payments by debit card, if you have previously given permission. For other renewal payments, you must submit further payments if you wish to renew the policy. Termination of the contract Royal & Sun Alliance Insurance plc may cancel this policy by giving you at least 14 days notice at your last known address. If we cancel the policy any premium already paid will be refunded for the remainder of the current period of insurance. The law and language applicable to the policy Both you and we can choose the law that will apply to this policy. The policy is governed by the law, which applies to the part of the United Kingdom, Channel Islands or the Isle of Man in which you normally live. The language used in this policy and any communications relating to it will be English. Realty Classic is underwritten by Royal & Sun Alliance Insurance plc, which is authorised and regulated by the Financial Services Authority as an insurance company to undertake insurance mediation under Registration No You can check this on the FSA s Register by visiting the FSA s website at or by contacting the FSA on Royal & Sun Alliance Insurance plc (No ). Registered in England and Wales at St. Mark s Court, Chart Way, Horsham, West Sussex, RH12 1XL.

12 If you would like more information about this policy, or have other insurance requirements please contact us and we will be pleased to respond. Realty Insurances Limited 58 Davies Street London W1K 5JF Telephone: Fax: address: Website address: PFS00267A (05/12)