P E R S O N A L I N S U R A N C E Expats Home Insurance. Policy Summary. Bring on tomorrow

Transcription

1 P E R S O N A L I N S U R A N C E Expats Home Insurance Policy Summary Bring on tomorrow

2 Insurance Provider This insurance is provided by AIG Europe Limited The purpose of this Policy Summary is to help you to understand the insurance contract by setting out the significant features,, limitations and exclusions of cover. For a full description of the terms of the insurance (including the policy definitions), you should read the Policy Wording together with your Policy Schedule copies of which will be provided to you on completion of the insurance contract or at any time on request. This document does not form part of the Policy Document. Period of insurance Expats Home Insurance is an annual insurance contract which may be renewed each year subject to the terms and conditions applicable at the point of renewal invitation. Purpose of insurance This product is suitable for expatriates who work or have retired in Cyprus and covers the sections that you have selected and the sums insured shown on your policy schedule as detailed below: If you have chosen Buildings Insurance, we will provide cover for the structure of your home including garage and outbuildings, its fixtures and fittings, boundary and garden walls, carport, gates, hedges, fences, footpaths, patios, terraces, drives, tennis courts, swimming pools, hot tubs, garden ponds, statues and fountains that are permanently fixed into the ground, greenhouses, solar panels, septic tanks, gas or oil central heating tanks all forming part of the home which are used for domestic purposes only, against loss or damage from specific perils summarised over the page and detailed in your policy wording. If you have chosen Contents Insurance, we will provide cover for household goods, personal possessions, certain business equipment, pedal cycles and money whilst in your home, which you or any member of your family own or are legally responsible for, against loss or damage from specific perils summarised over page and detailed in your policy wording. Total coverage for the contents of any garages, outbuildings and garden sheds will be limited to 3,000. If you have chosen Personal Possessions Insurance, we will provide cover for jewellery, watches, sports equipment, items of clothing and personal effects that are worn or carried on or about the person in or away from home that you or any member of your family own or are legally responsible for, against loss or damage from specific perils summarised over page and detailed in your policy wording. You have the flexibility to select Buildings Insurance, Contents Insurance or both sections together and if required you can add further sections of cover which provide to suit your specific needs. Full details of the cover sections that you selected will be shown in detail on your Policy Schedule. 2

3 General conditions & exclusions The following conditions and exclusions apply to the policy as a whole regardless of the specific cover you have selected. For full details of the conditions and exclusions that apply to this insurance contract please read the Policy Wording together with your Policy Schedule. You must tell us in writing as soon as possible about any change which may affect this insurance policy. If you do not tell us, we may declare the policy as not valid or reduce the cover we provide. You must take all reasonable steps to protect the property insured, prevent damage or accidents and maintain the property insured in a sound condition. If you or anyone acting for you makes a claim that is false or fraudulent in any way, the policy shall become void and all claims under it shall be forfeited. No cover is provided for any loss or damage caused by wear and tear, loss of value or anything which is caused by gradual deterioration. No cover is provided for any loss or damage that occurs if your home is left unfurnished. We will not pay for any losses that are not directly associated with the incident that caused you to claim, unless expressly stated in the insurance policy. If the sum insured you have agreed is less than the full rebuild or replacement cost of your Buildings or Contents we may proportionately reduce any payment. Policy excesses and cover limits The policy excess applicable to each section of cover will be as shown clearly on your Policy Schedule. This excess refers to the amount you must pay in the event of a claim. The cover limits that apply to each section of cover will be shown clearly in the Policy Wording together with your Policy Schedule. 3

4 Buildings insurance If you selected Buildings insurance, and chose the Standard cover option the following coverage will apply: For a full list of exclusions please refer to the Policy Wording. Significant features and Your home is covered against damage caused by the following perils: Fire, smoke, lightning, explosion or earthquake, storm, flood, freezing of water in any part of the plumbing installation, fixed water or fixed heating systems, subsidence, escape of water/oil (including the costs you incur in locating the source of the damage up to 5000 and replacing damaged waterpipes up to 1000), theft, impact, malicious damage, vandalism and other similar causes. In addition we will cover your home and garden for the cost of emergency entry. Loss or damage by any gradual deterioration is excluded (see general conditions and exclusions). Loss or damage caused to the plumbing installation, fixed water or water heating systems by freezing which are directly exposed to the outside or located in an outbuilding Loss, damage or theft that is not reported to the police within seven days of discovering the loss, damage or theft Loss or damage caused by sulphate reacting with any materials from which your home is built Loss or damage caused by any employee, guest or tenant, or by you or any member of your family Loss or damage caused to boundary and garden walls, gates, hedges, fences, footpaths, patios, terraces, drives, carports, tennis courts, swimming pools, hot tubs, greenhouses, garden ponds, statues and fountains which are permanently fixed into the ground is not covered unless your home is damaged by the same cause and at the same time, Damage that is caused by animals belonging to you or any member of your family Loss or damage by felling or lopping trees Standard Accidental Damage Covers the accidental damage of windows, ceramic hobs and sanitary ware that are fixed and form part of your home and any cables, underground pipes and drains which provide services to and from your home for which you and your family are legally responsible. Loss or damage caused by scratching or wear and tear is excluded Loss or damage caused by de-lamination (separation of layers) of pitch fibre pipes Loss or damage caused to pitch fibre pipes as a result of pressure applied to them by the weight of soil or covering materials is Loss or damage caused by or from demolition, structural alterations or structural repairs to your home, or any groundwork, excavation, faulty workmanship or the use of faulty materials The cost of replacing any undamaged items that form part of a pair or set The replacement cost of any part of the item other than the broken glass 4

5 Significant features and Liability as the property owner Up to 400,000 plus defence costs previously agreed in writing for any one event in respect of third party property damage or personal injury. Any injury, death, disease or illness to you or your family Any business, profession or trade involving you or your family Any deliberate act by you or your family Under the buildings insurance, you may also add Accidental Damage Cover for an additional premium, and the following coverage will apply Significant features and Accidental damage In addition to standard cover shown above, this option provides extra protection against damage caused suddenly, which is both unexpected and not deliberate in nature. Loss or damage caused by water entering your home, other than by storm or flood Loss or damage caused by insects, parasites, vermin, fungus or mildew Loss or damage caused by or from demolition, structural alterations or structural repairs to your home, or any groundwork, excavation, faulty workmanship or the use of faulty materials Loss or damage caused by animals or pets owned by you or owned by any member of your family Loss or damage caused by scratching or denting Loss or damage caused by any process of alteration, repair, maintenance, cleaning, restoration, dismantling, renovation, redecoration or breakdown Loss or damage caused by any deliberate act by you or any member of your family 5

6 Contents Insurance If you selected Contents insurance, and chose the standard Cover option the following option will apply: For a full list of exclusions please refer to the Policy Wording. Significant features and Your contents are covered new for old in your home against loss or damage caused by any one of the following perils: fire, smoke, lightning, explosion or earthquake, storm, flood, theft, escape of water/oil, impact, malicious damage, vandalism and other similar causes. In addition rent and alternative accommodation if your home is made uninhabitable is covered for up to 10% of the contents sum insured for any causes insured under contents cover. The most we will pay is 3,000 for contents in any garage or outbuildings in any period of insurance. Loss or damage caused to the plumbing installation, fixed water or fixed heating systems or to any domestic appliance which the water, oil or liquid petroleum gas escapes from Loss, damage or theft that is not reported to the police within seven days of discovery Loss or damage caused by any employee, guest or tenant or by you or any member of your family For items of clothing and household linen a deduction may be made for wear and tear. Standard Accidental Damage Covers accidental damage to audio, computer, television and video Equipment, DVD players, digital boxes, games consoles and personal computers along with any aerials, satellite dishes fixed to your building in your home, and also glass in furniture, mirrors and ceramic tops to cookers that are not built in. Loss or damage caused while your home is lent, let, sub-let or shared with anyone other than your family Loss or damage caused by animals or pets Loss or damage to video cameras, digital cameras, digital imaging or recording equipment designed to be hand-held or portable is Loss or damage to musical instruments, records, tapes, discs, CDs, DVDs, computer games, software, laptops, hand-held games consoles, portable audio equipment or mobile phones Loss or damage caused by computer viruses Loss or damage caused by scratching or denting Loss or damage caused by light, climatic conditions, atmospheric conditions or by any process of cleaning, maintaining, adjusting, repairing or taking apart Loss or damage to glass in pictures and clocks The replacement cost of any part of the furniture, mirrors and ceramic tops to cookers other than broken glass Loss or damage caused by mechanical, electrical or electronic fault, failure or breakdown 6

7 Significant features and Business equipment Covers items of business equipment i.e. personal computers, printers, monitors, fax machines and other office equipment. Any loss or damage in any period of insurance exceeding 5,000 for business equipment Loss or damage to business stock Loss or damage to business money or credit cards Locks and keys Covers the cost of repairing, replacing or installing new locks in your home where keys have been lost or stolen up to 500. Loss or theft of keys not reported to the police within seven days of discovering the loss or theft Loss or damage caused while your home is lent, let, sub-let or shared with anyone other than your family Loss or damage caused by mechanical, electrical or electronic fault, failure or breakdown If you insure both your buildings and contents under this policy and make a claim for locks and keys, we will only make one payment under either your buildings or contents section of cover. It is not possible to make a claim under both buildings and contents cover for the same incident. High risk items E.g. jewellery, art, collections, etc. See Policy wording for full definition. Cover is limited to 3,000 for any high risk items not specified on the Policy Schedule. The most we will pay for high risk items is one third (1/3rd) of the total contents sum insured in any period of insurance. Freezer food Covers contents of the freezer up to a limit of 500. Loss or damage caused by the deliberate act of any electricity supplier or gas supplier Personal money & credit cards Cover is limited to 500 for money and 1,000 for credit cards in any period of insurance. Loss due to a mistake, neglect or loss of value Losses you or your family do not report to the police within seven days after the discovery of loss or theft Loss of credit cards which you or your family do not report to the company who issued them immediately on discovery or as soon as their office hours allow 7

8 Significant features and Liability as the occupier of the property Covers up to 400,000 for any one event in respect of third party property damage or personal injury. Liability as a tenant Covers up to 10% of the contents sum insured in any perod of insurance against perils 1-9 of the policy (Refer to Polcy wording). Any injury, death, disease or illness to you or your family Any contagious disease or virus passed on by you or any member of your family Any business, profession or trade involving you or your family Any deliberate act by you or your family Loss or damage while your home is unoccupied or unfurnished Loss or damage to any property which you own Liability to domestic employees According to the provisions of the law 1989 as modified. Death of or injuring a domestic employee whilst passenger in a motor vehicle Various other covers such as: Contents in the open, moving house, christmas and weddings gifts, fatal injury benefit. Please refer to your policy wording. Under the Contents insurance, you may also add Accidental Damage Cover for an additional premium, which covers: Significant features and Accidental Damage In addition to standard cover shown above, this option provides extra protection against damage caused suddenly, which is both unexpected and not deliberate in nature. Loss or damage specifically excluded under Section 2 Contents Insurance or elsewhere in the policy Loss or damage caused by mechanical, electrical or electronic fault, failure or breakdown Loss or damage caused by contents being confiscated or held legally by officials or the authorities Loss or damage caused by animals or pets owned by you or your family Loss or damage caused by scratching or denting Loss or damage caused by any process of dyeing, washing, cleaning, restoring, reproofing, adjusting, maintaining or repairing Loss or damage to clothing, including furs Loss or damage caused by the deterioration of food Loss or damage caused by any deliberate act by you or any member of your family 8

9 Optional extensions Significant features and Personal Possessions: Unspecified Personal Possessions Covers your possessions against damage, theft or loss while away from the home in Cyprus and worldwide for up to 60 days, and to a limit of 3,000 per item. Specified Personal Possessions Covers items specified on the Policy Schedule against damage, theft or loss while away from the home in Cyprus and worldwide for up to 60 days.(any personal possessions worth more than 3,000 must be specified on the Policy Schedule.) Loss or theft you do not report to the police within seven days of discovering the loss or theft Loss, theft or damage caused while your home is lent, let, sub-let or shared with anyone other than your family, unless there is evidence of forcible and violent entry to or exit from your home Loss, theft or damage caused while your home is used to receive visitors or paying guests in connection with your trade, profession or business Any loss, theft or damage for individual specified personal possessions that are over the value noted on your schedule is Any loss, theft or damage for any event that is over the value shown on your schedule for unspecified personal possessions Loss, theft or damage to goods or property you or any member of your family own or use at any time for trade, professional or business purposes Loss by deception unless the only deception is used to gain entry to your home Loss or damage caused by water entering your home, other than by storm or flood Loss or damage caused by mechanical, electrical or electronic fault, failure, breakdown, or wear and tear Loss or damage caused by animals or pets owned by you or owned by any member of your family Loss or damage caused by scratching, denting or chipping is Loss or damage caused by moth, vermin, parasite, woodworm, insect, wet or dry rot, fungus, frost, light, climatic and atmospheric conditions, rusting, corrosion and shrinkage Loss or damage caused by any process of dyeing, washing, cleaning, restoring, reproofing, adjusting, maintaining or repairing Loss, theft or damage to reeds, strings or skins of musical instruments Loss, theft or damage to musical instruments while in use is Loss, theft or damage to guns where the damage is caused by bursting or rusting Loss, theft or damage to sports equipment when it is being used 9

10 Significant features and Loss, theft or damage to pedal cycles is excluded under the specified and unspecified personal possession sections of the cover. Loss, theft or damage caused by theft from an unattended motor vehicle is excluded unless at the time of the loss: (i) Someone aged 16 or over was in charge of the motor vehicle; or (ii) The motor vehicle was securely locked; and (iii) There is evidence that force and violence were used to get into the motor vehicle; and (iv) The personal possessions stolen were securely locked and out of sight in a glove compartment, luggage boot or concealed luggage compartment. Any amount over 1,000 for theft or attempted theft from any unattended vehicle Loss or theft you do not report to the police within seven days of discovering the loss or theft Personal legal liability Covers up to 400,000 for any one event in respect of third party property damage or personal injury. Any injury, death, disease or illness to you or your family is Any business, profession or trade involving you or your family Any deliberate act by you or your family Any physical property which is owned by your family, or which is the legal responsibility of your family Any liability from hunting or racing of any kind except on foot Any liability arising from playing or practicing golf Any liability arising from owning, possessing or using animals other than horses or domestic pets Pedal cycles Covers loss, theft or damage to Pedal Cycles in Cyprus, or up to 60 days worldwide, that are owned by you or a member of your family up to a limit of 200 for each unspecified pedal cycle and a maximum of 400 in any one period of insurance. (Any pedal cycles worth over 200 should be specified on your schedule). Loss, theft or damage to any unattended pedal cycle not secured with a suitable locking device to a permanent fixture, or locked in a building at the time of the loss Loss, theft or damage when any pedal cycle has been outside of the Cyprus for a total of more than 60 days in any period of insurance is Loss, theft or damage to pedal cycles while being used for racing, pace making or trials Loss, theft or damage to wheels, saddles and accessories unless the pedal cycle is lost, stolen or damaged at the same time Loss or damage caused to pedal tyres by cuts, bursts or punctures Loss or damage caused by: scratching, denting or chipping; mechanical failure; any process of washing, cleaning, restoring, adjusting, maintaining, repairing or misuse 10

11 Important information How to make a claim Should you wish to make a claim under your policy, you should initially read the relevant section of the Policy Wording together with the Policy Schedule to check whether you consider the claim is covered by this policy. Please contact us as soon as possible on during office hours. Remember the following points: You must at all times provide without expense to us, any information or help that we reasonably ask for. You must not admit, deny, negotiate any claim without written consent from us. You must tell the police within seven (7) days of discovery of any loss or damage caused by theft or attempted theft, accidental loss, malicious acts or vandalism, and keep a note of any crime reference number or loss reference number. How to make a complaint Every effort is made to ensure you receive a high standard of service. However, if you feel that the service provided does not meet with your expectations then please contact us. The following complaint procedure has been designed to support you in addressing any concerns you may have. If your concern relates to the way the policy was sold then please contact your agent who arranged your policy or us. If you are unhappy with the way your claim has been handled then please write to: The General Manager AIG Europe Limited P.O Box , Nicosia cy.customer.relations@aig.com To help us to deal with your comments quickly, please quote your policy, claim number and the policyholder or insured s name. We will do our best to resolve any difficulty directly with you, but if we are unable to do this to your satisfaction you retain your right to have recourse to justice. Your right to cancel the policy Cooling off period If after insuring with us and receiving your Policy, you subsequently change your mind, you have 14 days to write to the agent or intermediary who you took the policy out with or us, confirming that you do not wish to continue. Provided you have not made a claim in that period no charge will be made and any premium you have already paid will be refunded. Cancellation You may cancel the policy anytime after the cooling off period by writing to us or contacting your broker or intermediary. As long as you have not made a claim, we will refund you for the time that is left on your policy. We or anyone we authorize can cancel this policy at any time by sending you fourteen days notice in writing. We will send the notice to the last known address we have for you. We will refund your premium for the time that was left on your policy as long as you have not made a claim. 11

12 Bring on tomorrow AIG Europe Limited 26 Esperidon Street, 2001 Strovolos, Cyprus, P.O. Box 21745, CY-1512, Nicosia Telephone , Facsimile This insurance is underwritten by AIG Europe Limited. AIG Europe Limited is registered in England and Wales. Company number: Registered office: The AIG Building, 58 Fenchurch Street, London EC3M 4AB, United Kingdom AIG Europe Limited is registered in the Republic of Cyprus as an oversea company. Company number: AE Registered office: 26 Esperidon street, 2001 Strovolos, Cyprus. AIG All rights reserved Insurance cover is classified under insurance against fire and other damage to property. Any product or insurance description in this document is for information purposes only and should not be relied upon to justify coverage in any situation. Scope and terms are subject to the terms and conditions of the policy which are available on request. Nothing in this document constitutes legal advice. Please consult your legal adviser if you wish to receive advice on any matters herein.