PROPERTY OWNERS INSURANCE POLICY SUMMARY

Transcription

1 PROPERTY OWNERS INSURANCE POLICY SUMMARY

2 PROPERTY OWNERS INSURANCE POLICY SUMMARY This documet is a summary of your Policy ad other key iformatio about the isurace cover that you should read. It does ot cotai full details of the terms ad coditios of the Policy which ca be foud i the Policy Booklet. Please read the Policy Booklet carefully whe you receive it ad keep it for your future referece. If you have ay questios about this Policy Summary, the Policy Booklet or the isurace cover geerally, please cotact your isurace adviser. WHO ARE THE INSURERS? This Policy is provided by e-uderwritig actig as aget o behalf of a pael of leadig UK Isurers. The isurer that is providig your Property Owers Isurace Policy will be show o your Policy Schedule. WHAT IS THE PROPERTY OWNERS INSURANCE POLICY? CORE COVERS For your cover to apply you must comply with the coditios of the Policy. These are explaied i the Policy Coditios sectio at the back of the Policy Booklet. These coditios iclude, but are ot limited to, takig reasoable precautios to prevet loss ad limit damage as well as actios you must take as soo as you are aware of a possible claim. Each sectio of the Policy cotais exclusios ad you must also refer to the Policy Exclusios sectio of the Policy Booklet for details of exclusios that apply to the etire Policy. I additio to the stadard exclusios ad limitatios your Policy Schedule will advise you of ay special exclusios or limitatios applyig oly to you. These are described o your Policy Schedule as Edorsemets. The Property Owers Isurace Policy icludes cover for buildigs, cotets, property owers liability ad employers liability. This Policy Summary outlies the beefits, features ad ay sigificat or uusual exclusios or limitatios to the above isurace covers. Your Policy Schedule will show clearly what covers you have selected. 02

3 PROPERTY DAMAGE COVER OPTION A - ALL RISKS SECTION Accidetal loss or damage The first part of ay claim (the Excess) Automatic cover up to 2,000,000 for ewly built ad/or ewly acquired buildigs, with up to 500,000 for alteratios, additios ad improvemets to the buildigs Up to 2,500 for replacemet of locks, followig loss of keys by theft or attempted theft Damage to ladscaped gardes ad grouds 25,000 Loss of metered water, gas or electricity up to 25,000 Removal of debris followig a loss Costs ad expeses icurred i locatig ad repairig the actual source of the damage caused by escape of water or oil from ay tak, apparatus or pipe up to 25,000 Cotets of commo parts up to 25,000 uless otherwise stated i the Policy Schedule Loss of ret ad alterative accommodatio up to 25% of the Sum Isured uless otherwise stated i the Policy Schedule Value Added Tax Wear ad tear; gradual deterioratio; faulty or defective desig, materials or workmaship; frost or chage i the water table level Damage to moveable property i the ope, icludig gates, feces, by wid, rai, hail, sleet, sow, flood or dust Mechaical or electrical breakdow or deragemet of the Property Isured Subsidece, groudheave or ladslip caused by collapse, crackig, shrikage or settlemet of ay buildig or coastal or river erosio Theft or attempted theft by you, your family or a employee or ay residet or their guest Accidetal damage does ot iclude maiteace ad ormal redecoratio costs; wear ad tear; gradual deterioratio; corrosio, rust, rot or fugus; vermi or isects; atmospheric or climate coditios; ormal settlemet or shrikage; damage caused by domestic pets Damaged caused by mechaical or electrical breakdow, crackig, collapse ad weld failure of boilers ad equipmet Pollutio or cotamiatio uless resultig from a loss covered by the Policy Accidetal breakage of glass ad saitary fittigs 250 escape of water excess uless otherwise stated i the Policy Schedule Damage as a result of the movemet of solid floors slabs uless there is damage to the foudatios at the same time 100 stadard excess ( 250 for studets ad DSS teats) 1,000 excess applies for subsidece, groud heave or ladslip PROPERTY DAMAGE COVER OPTION B SPECIFIED CONTINGENCIES Cover o a Specified Cotigecies basis icludig damage caused by fire, lightig, earthquake, explosio, aircraft, riot, civil commotio, strikers, locked-out workers, persos takig part i labour disturbaces or malicious persos, storm or flood fallig trees, escape of water from ay tak apparatus or pipe, fallig trees or aerials, breakage or collapse of aerials or satellite dishes, impact, sprikler leakage, leakage of oil from heatig istallatios, theft or attempted theft Cover Optio B has the same sigificat or uusual exclusios or limitatios as Cover Optio A, plus Accidetal breakage of glass ad saitary fittigs Automatic cover up to 2,000,000 for ewly built ad/or ewly acquired buildigs, with up to 500,000 for alteratios, additios ad improvemets to the buildigs Up to 2,500 for replacemet of locks, followig loss of keys by theft or attempted theft 03

4 Damage to ladscaped gardes ad grouds 25,000 Loss of metered water, gas or electricity up to 25,000 Removal of debris followig a loss Costs ad expeses icurred i locatig ad repairig the actual source of the damage caused by escape of water or oil from ay tak, apparatus or pipe up to 25,000 Cotets of commo parts up to 25,000 uless otherwise stated i the Policy Schedule Loss of ret ad alterative accommodatio up to 25% of the Sum Isured uless otherwise stated i the Policy Schedule Value Added Tax EMPLOYERS LIABILITY SECTION Legal costs ad expeses i defedig prosecutios uder all relevat Health ad Safety legislatio Paymet for court attedace Legal expeses arisig from Corporate Maslaughter ad Corporate Homicide Act 2007 Bodily ijury to ay employee egaged by you outside of the defied territories Bodily ijury to a employee carried i or upo, eterig or gettig o to, or alightig from a vehicle where ay road traffic legislatio requires isurace or security Cover for acts of terrorism limited to 5,000,000 per evet Liability i respect of liquidated damages, pealty clauses, fies, puitive ad similar damages 04

5 PROPERTY OWNERS LIABILITY SECTION Actios uder the Defective Premises Act The first part of ay claim (the Excess) Legal expeses arisig from Corporate Maslaughter ad Corporate Homicide Act 2007 Legal fees ad expeses defedig prosecutios uder relevat Health ad Safety legislatio Legal liability for accidetal bodily ijury i respect of cotiget motor liability ot owed by, ot loaed, leased, hired or reted to you or provide by you, which is beig used i coectio with the busiess i the defied territories Paymet for court attedace Legal liability for fiacial loss, subject to a maximum i ay oe period of isurace of 500,000 Legal liability for accidetal damage to employees ad visitors persoal belogigs Legal expeses arisig from Cosumer Protectio Act 1987 ad Food Safety Act 1990 Liability for accidetal damage to hired, reted or occupied busiess premises (icludig fixtures ad fittigs) withi the defied territories Persoal liability for ay director, parter or employee i respect of bodily ijury or damage to property overseas Liability arisig out of ay work or ay products supplied which affects or could affect the avigatio, propulsio or safety of ay aircraft or other aerial device ad the safety or operatio of uclear istallatios Loss or damage to property which is held i trust or i the custody or cotrol of the isured or ay other party who is carryig out work o your behalf Pollutio or cotamiatio uless caused by a sudde idetifiable icidet Cover for acts of terrorism is limited to 2,000,000 or ay other amout specified i the Policy Schedule for Property Ower s Liability whichever is the lower Exposure to, ihalatio of, fears of exposure to or ihalatio of costs icurred by ayoe repairig, removig, replacig, recallig, rectifyig, reistatig or maagig (icludig those of ay persos uder ay statutory duty to maage) ay property arisig out of the presece of asbestos icludig ay product cotaiig asbestos Idemity provided uder other policies ad deliberate acts or omissios Idemity i respect of ay agreemet for or icludig the performace of work outside the defied territories 05

6 FURTHER INFORMATION Cacellatio We may cacel the Property Owers Isurace Policy by sedig you 30 days writte otice to your last kow address. We will refud a proportioate part of the premium paid for the uexpired period, provided that o claims have bee paid or are outstadig. We may cacel the Property Owers Isurace Policy immediately if the premium has ot bee paid or if there has bee a default uder a istalmet or liked credit agreemet. We will ot refud ay istalmet paid ad at our discretio may request full paymet of the aual premium if ay claims have bee paid or are outstadig. How to make a claim? If you eed to make a claim uder ay sectio of your Policy except the Legal Expeses ad Ret Guaratee Isurace sectio. Please cotact us straight away by callig the umber stated i the Policy Schedule. Please also refer to Policy Coditio (4) Claims uder the Policy Coditios sectio at the back of your Policy Booklet for full details of your duties ad how we deal with ay claim. Compesatio Scheme e-uderwritig, the Isurer(s) for which it acts as aget (show i your Policy Schedule), ad Arc Legal Assistace Ltd are all covered by the Fiacial Compesatio Scheme (FSCS). If they caot meet their obligatios, you may be etitled to compesatio uder this scheme depedig o the type of isurace ad the circumstaces of your claim. Choice of Law Uless you ad we specifically agree otherwise the law of Eglad ad Wales will apply to this cotract Our Regulatory Status e-uderwritig is authorised ad regulated by the Fiacial Services Authority. We are a limited compay registered i Eglad ad Wales uder compay umber Our registered office is located at 9 Alie Street, Lodo, E1 8DE. What to do if you have a complait Our goal is to provide excellet service to all our customers, but we recogise that thigs do go wrog occasioally. We take all complaits we receive seriously ad aim to resolve all our customers problems promptly. To esure that we provide the kid of service you would expect we welcome your feedback ad we will record ad aalyse your commets to make sure we cotiually improve the service we offer. I the evet that you wish to make a complait please cotact your isurace adviser. Full details of the complaits procedure ca be foud i your Policy Booklet. If you remai uhappy with the fial decisio you receive from us you may be etitled to refer to the Fiacial Ombudsma Service (FOS) who are a idepedet body. Followig the complait procedure does ot affect your right to take legal actio. 06

7 e - Uderwritig is a tradig ame of OIM Uderwritig Limited, which is authorised ad regulated by the Fiacial Services Authority. Registered Office: 9 Alie Street, Lodo, E1 8DE. Registered No: Eglad ad Wales. SD3514_A/ CP1_CIA JUN 2012