summary of cover PROPERTY OWNERS INSURANCE Version 2

Transcription

1 summary of cover PROPERTY OWNERS INSURANCE Versio 2

2 Cotets Itroductio 3 Valuatio Service ad Iflatio Protectio Package 4 Property damage 5 Equipmet breakdow 7 Retal icome 8 Liabilities 10 Legal expeses 11 Geeral iformatio 14 Sigificat coditios 14 Cacellig the policy 14 What if I eed to make a claim? 14 What if I have a complait? 14 The Fiacial Services Compesatio Scheme (FSCS) 14 Law applicable 14

3 PROPERTY OWNERS INSURANCE SUMMARY OF COVER 3 This is a summary of the cover provided by the Ecclesiastical Isurace Office plc Property Owers isurace policy Available for buildigs ad lad which belogs to, but is ot occupied by, the ower. The policy is desiged to provide maagig agets ad owers with all the essetial isurace cover relatig to reted commercial property. All types of properties ca be isured such as factories, idustrial estates, shops, offices ad the like. The policy offers you isurace for Your buildigs ad cotets of commo parts Your loss of retal icome followig a property damage claim Equipmet breakdow cover helpig you to get a extesive rage of equipmet up-ad-ruig agai Optioal extesios for Employers liability Legal expeses The summary highlights the mai features ad exclusios to help you decide if the policy meets your eeds. For all the terms ad coditios that apply, please cosult the policy documet. A copy of the policy will be set to you after you have take out the isurace but is available beforehad from us or your broker o request. Whe you take out cover with us we will issue you with a schedule. This documet details the cover you have chose. The stadard duratio of this cotract is 12 moths from the start date o your policy schedule.

4 4 SUMMARY OF COVER PROPERTY OWNERS INSURANCE Isurace Valuatio Service ad Iflatio Protectio Package Most of us would agree that the crucial factor for Property Ower isurace is the adequacy of the sums isured. We work very hard to help you with this, so that you ca be really cofidet that you are properly isured ad i a way that is hassle-free for you. Our three-step system is as follows Take advatage of our special valuatio service which is available i most cases. Our surveyor will recommed the declared Value for you. This is the cost of rebuildig or replacig the property at the time the valuatio is udertake, without allowace for future iflatio. Check with your broker that you are eligible to take advatage of this service. As it could take several years to re-build or replace your property followig a major loss adequate allowace for future iflatio is essetial. So we provide a automatic 25% Day Oe uplift to the eclared Value to arrive at a sum isured you ca feel cofidet i. Fially, just to make really sure, uless we have received a re-valuatio from you or our surveyor, we cotiue to uplift the declared Value by idex likig at each aual reewal of the policy.

5 PROPERTY OWNERS INSURANCE SUMMARY OF COVER 5 Property damage Provides cover for the buildigs ad the cotets of commo parts. How will my claim be settled? I the evet of a claim the basis of settlemet for buildigs will be the cost of repair or replacemet as ew. Features ad beefits Sigificat exclusios ad limitatios Isurace for buildigs ad cotets of commo parts agaist a rage of isured evets such as fire, break-i, malicious damage, storm or flood, subsidece, escape of water, impact ad accidetal damage ad terrorist damage. You select the evets you wish to isure. excludig subsidece that started prior to the arragemet of this cover excludig the excess the amout of which will be agreed with you ad cofirmed o the policy schedule Cotets of commo parts icludes your maiteace ad cleaig equipmet, ad the furiture ad furishigs i commo parts. The policy ca be exteded upo request to iclude cotets of furished ad teated accommodatio. 25,000 ay oe premises for cotets of commo parts Oce selected, the sums isured will be the most we will pay. If our Valuatio service does ot apply (as for example, i the case of Cotets of commo parts cover) the i the evet of uderisurace the amout we pay for ay claim will be reduced i proportio to the degree of uderisurace. Teats subrogatio waiver Followig damage to ay buildig isured by the Property damage sectio we agree to waive ay rights to recoveries from the teat as log as the teat cotributes to the cost of isurig agaist the evet which causes the damage. The damage must ot result from a crimial fraudulet or malicious act by the teat

6 6 SUMMARY OF COVER PROPERTY OWNERS INSURANCE Special features Features ad beefits Capital additios Alteratios ad additios to the property isured for the evets you have selected uder Property damage. Sigificat exclusios ad limitatios L For alteratios ad additios to existig properties, 500,000 For ew properties you acquire, 2,000,000 excludig appreciatio i value excludig property otherwise isured Trace ad access Costs icurred i tracig the source of water or oil damage. 50,000 ay oe claim Private residece temporary accommodatio For private dwellig houses or flats, we will pay for reasoable ad ecessary residets accommodatio ad storage of furiture, if you are liable to pay for these costs. 20% of the relevat buildig sum isured for a flat apportiomet is made based o the umber of flats i the buildig Clearig of drais Charges for clearig or repairig drais as a result of isured damage. 50,000 ay oe claim Damage to the buildigs by theft Followig theft or attempted theft of the fabric of the buildig. 5,000 ay oe period of isurace for repairs to isured buildigs followig theft of the fabric of the buildigs icludig exteral metal 5,000 ay oe period of isurace for damage to isured property due to etry of rai water followig theft of the fabric of the buildig excludig losses whe scaffoldig is erected at the premises uless we have agreed i writig to cotiue cover

7 PROPERTY OWNERS INSURANCE SUMMARY OF COVER 7 Equipmet breakdow This sectio gives you cover for a wide rage of equipmet i the evet of breakdow. If you choose the Retal icome cover uder this policy your busiess losses followig a breakdow of the equipmet are icluded. How will my claim be settled? We will repair or replace equipmet or pay you the cost of this. Features ad beefits What is the equipmet that is covered? Ay electrical or mechaical equipmet uless excluded. This icludes: Lifts, cetral heatig or air coditioig systems Boilers are covered for breakdow ad explosio Security ad soud systems Sigificat exclusios ad limitatios L 5,000,000 i ay oe period of isurace excludig, i private dwelligs, kitche ad food preparatio equipmet, laudry ad cleaig equipmet ad audio-visual equipmet excludig breakdow caused by computer viruses or hackig excludig wear ad tear, although resultat loss is ot excluded excludig the excess the amout of which will be agreed with you ad cofirmed o the policy schedule Computers For computers the sectio provides cover for ay breakdow ot icluded uder a maiteace agreemet. For computer equipmet outside the premises, cover is for breakdow ad resultig busiess loss. The equipmet must be i the custody or cotrol of you, or your employee, withi the Europea Uio. 100,000 for all claims i ay oe period of isurace excludig computer viruses ad hackig Expeditig expeses Expeditig costs to speed up repair or replacemet, ad i makig temporary repairs. 15,000 ay oe period of isurace Loss avoidace Costs icurred i takig exceptioal measures to prevet or reduce a loss. 5,000 ay oe period of isurace

8 8 SUMMARY OF COVER PROPERTY OWNERS INSURANCE Features ad beefits Retal icome Loss of icome ad other costs followig the breakdow of equipmet. Sigificat exclusios ad limitatios L 30,000 ay oe period of isurace (or, if less, the geeral sum isured uder the Retal icome sectio) excludig claims arisig from the eed to recostruct or re-iput data or programs Retal icome This sectio provides you with cover to maitai your retal icome followig a fire or other isured evet. How will my claim be settled? We will pay the amout of your loss as isured by the sectio. Features ad beefits Covers your loss of ret followig a claim accepted uder the Property damage sectio. Also pays for the extra costs to miimise your loss of ret. Sigificat exclusios ad limitatios L You select the sum isured, which will be the most we will pay, ad the maximum idemity period you require Cover is provided up to a period, which ca be 12 moths, 18 moths, 24 moths or 36 moths (the maximum idemity period ).

9 PROPERTY OWNERS INSURANCE SUMMARY OF COVER 9 Special features Features ad beefits Additioal icrease i cost of workig This is a additioal expediture, which is reasoably icurred, over ad above the amout of ret saved. Sigificat exclusios ad limitatios L 25,000 ay oe icidet Ret reviews A automatic icrease to cover ret reviews durig the idemity period. A additioal 100% of the ret sum isured Maagig agets charges Icurred i re-lettig premises followig isured damage. Maagig agets premises Covers your losses followig damage at the premises of your Maagig agets. 50,000 or 20% of the ret receivable sum isured, whichever is lower Prevetio of access Loss of ret arisig out of access to the premises beig preveted or hidered as a result of damage by the risks isured to eighbourig property, or followig actio of the govermet, Police or local authority due to a emergecy lastig over 4 hours. Loss of ivestmet icome We will iclude your loss of icome arisig because claim settlemet is made later tha the date ret would have bee received. The loss of ret sum isured will apply

10 10 SUMMARY OF COVER PROPERTY OWNERS INSURANCE Liabilities This importat sectio of the policy provides you with the cover you eed by law for employers liability ad for public liability. How will my claim be settled? Whe a claim is made agaist you, we will deal with the claim o your behalf ad will pay defece costs ad ay damages awarded agaist you. Features ad beefits Employers liability Covers your legal liability for accidets to or illess of employees, sustaied i the course of their employmet. Sigificat exclusios ad limitatios L 10,000,000 ay oe claim icludig legal costs ad expeses As required by law we will supply a Certificate of Isurace which should be displayed i a promiet place ad after expiry retaied i compliace with Employers Liability (Compulsory Isurace) Regulatios Public liability Covers your legal liability as ower (but ot as occupier) of the property followig accidetal bodily ijury to third parties or for damage to their property, plus legal costs ad expeses. You choose the limit of idemity you require e.g. 2,000,000, 5,000,000 or 10,000,000 Public liability cover is for ay oe evet Special features Features ad beefits Compesatio for court attedace Provides you with compesatio if ay director or employee atteds court i coectio with a claim uder the liability sectio. Sigificat exclusios ad limitatios L 500 per day for each director ad up to 250 per day for ay employee Usatisfied court judgemets Offers idemity i respect of o-paymet of awards made agaist third parties i favour of a isured employee. Defective Premises Act Excludig repairs to the premises disposed of Cover for aspects of liability icurred uder the Defective Premises Act 1972 i respect of property disposed of by the policyholder

11 PROPERTY OWNERS INSURANCE SUMMARY OF COVER 11 Legal expeses This sectio provides cover for legal fees, compesatio awards or appeal costs arisig from a wide rage of legal disputes that you may become ivolved i. This cover has bee arrived at i cojuctio with DAS Legal Expeses Isurace Compay ed (DAS) who will hadle claims o our behalf. How will my claim be settled? For claims uder this sectio we will resolve a isured legal problem, either ourselves or through exteral lawyers ad other experts that we will appoit. Special features Features ad beefits We will protect your legal positio i the areas show below. I civil claims it must be more likely tha ot that the isured perso will recover damages or make a successful defece of their claim. Sigificat exclusios ad limitatios L You choose either 50,000 or 100,000 each claim excludig costs ad expeses before DAS writte acceptace of a claim excludig claims reported more tha 180 days after the date you should have kow about the icidet. Features ad beefits Employmet disputes For defedig your legal rights i a dispute with a employee arisig from their dismissal or redudacy, or ay other legal proceedigs relatig to their cotract of employmet. Cover icludes defece of your legal rights agaist a prospective employee claimig sex discrimiatio. Sigificat exclusios ad limitatios L excludig disputes i the first 90 days of this cover beig provided excludig, if the dispute arises withi the first 180 days of cover beig provided, ay dispute with a employee who was subject to a warig withi the 180 day period before cover started excludig disputes arisig uder TUPE Regulatios 2006 or the Trasfer of Employmet (Pesio Protectio) Regulatios 2005 ad ay amedig legislatio

12 12 SUMMARY OF COVER PROPERTY OWNERS INSURANCE Features ad beefits Compesatio awards Where we agree to defed your legal rights uder the employmet disputes cover, we will also pay ay compesatio award made at Tribual should you lose the case. Sigificat exclusios ad limitatios L For compesatio awards 1,000,000 for all claims i ay oe period of isurace excludig claims where established discipliary procedures were ot followed Service occupacy We will pursue your legal rights agaist a employee or ex-employee to recover possessio of premises which are owed by you or for which you are resposible. Legal defece Defece of crimial prosecutios brought by the Police, the Health & Safety Executive ad/or Local Authority Health & Safety Eforcemet Officer. Also gives cover for civil actios i specified circumstaces. excludig motorig or parkig offeces Bodily ijury We will pursue claims for accidetal death or physical ijury to you or your employees. excludig accidets ivolvig motor vehicles Tax ad VAT We will represet your rights throughout a equiry by HM Reveue & Customs ito your busiess accouts (ad PAYE or Social Security cotributios). We will also represet your rights i appeals agaist VAT assessmets. excludig dishoesty or crimial offeces For HM Reveue & Customs spect equiries (as opposed to full equiries) excludig the first 200 of costs

13 PROPERTY OWNERS INSURANCE SUMMARY OF COVER 13 Optioal cover Features ad beefits Sigificat exclusios ad limitatios L Property protectio We will pursue claims followig damage to your property Cover exteds to problems such as uisace ad trespass. excludig damage to motor vehicles excludig debts that are older tha 90 days Cotract disputes We will pursue or defed a claim for the sale, hire or purchase of goods ad services. excludig disputes over breaches of professioal duty Debt recovery We will help to recover moey ad iterest due from the sale or provisio of goods or services. excludig debts that are older tha 90 days Statutory licece protectio For appeals followig loss of licece or British Stadard Certificate of Registratio. excludig origial or reewal applicatios excludig licece appeals relatig to motor vehicles Plus Free 24-hour helplie services provided by DAS for all our Property Ower policyholders: Legal advice Provides free advice o ay commercial legal problem relatig to your orgaisatio withi the Europea Uio, the Isle of Ma, Chael Islads, Switzerlad ad Norway. Tax advice Provides advice o ay tax matters affectig your orgaisatio, uder the laws of the Uited Kigdom. Cousellig Available for your employees ad their immediate family who live with them.

14 14 SUMMARY OF COVER PROPERTY OWNERS INSURANCE Geeral iformatio Sigificat coditios You must tell us about ay buildig or portio which is to become uoccupied, worked upo, or udergo a chage i use. The policy allows for premises becomig vacat for short periods for up to 15 days betwee teats. Over this but less tha 3 moths your cover is maitaied uder the Property damage sectio providig the Uoccupied buildigs (or portios) coditio is met. Cacellig the policy We have the right to cacel the policy by givig you seve days otice i writig set by recorded delivery to your last kow address. If we cacel the policy we will refud the part of your premium which covers the cacelled period. This policy does ot etitle you to a coolig off period or refud if you decide to cacel the policy What if I eed to make a claim? For all claims other tha legal expeses claims If you eed to report a claim you ca call us o hours a day 7 days a week For legal expeses claims You must give DAS details of ay claim as soo as possible ad withi six moths of the isured icidet happeig. You ca write to: Legal Claims Cetre DAS Legal Expeses Isurace Compay ed DAS House, Quay Side, Temple Back, Bristol BS1 6NH. Tel What if I eed to complai? Complaits If you have ay reaso to complai about the advice or service we provide please cotact us at: Ecclesiastical Isurace Office plc Beaufort House Bruswick Road Gloucester GL1 1JZ Tel: Fax: complaits@ecclesiastical.com If you are ot satisfied with our respose or we have ot completed our ivestigatio after 8 weeks you ca take your complait to: Fiacial Ombudsma Service South Quay Plaza 183 Marsh Wall Lodo E14 9SR Tel: or complait.ifo@fiaical-ombudsma.org.uk The full complaits procedure is i the policy documet. This procedure does ot affect your right to take legal proceedigs. The Fiacial Services Compesatio Scheme (FSCS) You may be etitled to compesatio should we be uable to fulfil our obligatios. For further iformatio you ca cotact the FSCS o: Tel: +44 (0) equiries@fscs.org.uk or visit their website: applicable Law Applicable It is our itetio to apply the law of Eglad ad Wales to your isurace cotract uless your busiess is located i Scotlad i which case the law of Scotlad will apply. If there is ay dispute as to which law applies, it will be Eglish law.

15 This cotract is uderwritte by: Ecclesiastical Isurace Office plc. Our FCA registratio umber is Our permitted busiess is geeral isurace. You ca check this o the FCA s register by visitig the FCA s website or by cotactig the FCA o

16 For further iformatio o ay of our products or services, please speak to your broker. Or visit us at Beaufort House. Bruswick Road, Gloucester GL1 1JZ Ecclesiastical Isurace Office plc (EIO) Reg. No Registered i Eglad at Beaufort House, Bruswick Road, Gloucester, GL1 1JZ, UK. EIO is authorised by the Prudetial Regulatio Authority ad regulated by the Fiacial Coduct Authority ad the Prudetial Regulatio Authority. Ecclesiastical Isurace Office plc /2/0214