Residential Landlords Insurance. Policy Summary

Transcription

1 Residential Landlords Insurance Policy Summary

2 Amlin Residential Landlords Insurance policy summary This insurance is designed to provide you with a wide range of standard cover in connection with the ownership of residential properties, together with the option to add additional covers which may be suitable for you. This document includes a general summary of the insurance provided by our Amlin Residential Landlords Insurance policy. For precise details of cover, including the conditions and exclusions that apply, the policy document should be referred to. A copy will be supplied upon request. Our policies run for a period of 12 months. Before expiry Source Insurance will contact you regarding continuation of the insurance for a further 12 month period. Buildings Significant features and benefits Buildings Property insured as buildings includes, but is not restricted to, landlords fixtures and fittings, garden walls, patios, drives, swimming pools and outbuildings The standard perils Buildings are insured against loss or damage caused by fire, lightning, explosion, earthquake, smoke, storm or flood, escape of water or oil from any interior fixed heating or domestic water installation, washing machine, dishwasher, refrigerator or freezer, damage to any fixed heating or domestic water installation caused by freezing or forcible and violent bursting, theft or attempted theft, riot, strike, labour or political disturbance or civil commotion, malicious persons or vandals, subsidence, ground heave or landslip, collision involving aircraft, aerial devices or anything dropped from them, vehicles or animals, falling trees, branches, satellite dishes, receiving aerials and their fittings and masts. Additionally, cover includes the cost of removing debris after a loss, professional fees incurred in reinstating the buildings and additional costs incurred, following a loss, to comply with public authority requirements. Liability Your legal liability as owner of the buildings and its land up to a limit of indemnity of 2,000,000 plus legal costs and expenses. Additional cover for buildings which is automatically included The reasonable costs incurred in locating the source of damage caused by escape of water or oil up to 5,000 any one claim. Accidental damage to glass, sanitaryware, ceramic hobs and underground service pipes and cables for which you are responsible. Damage to landscaped gardens by the emergency services whilst attending the premises as a result of the operation of an insured event subject to a limit up to 1,000 in any one period of insurance. The cost or value of metered water or domestic heating oil lost following accident to fixed water or heating installations at the premises up to 500 in any one period of insurance. Loss of rent and alternative accommodation in consequence of the operation of an insured event, up to 20% of the buildings sum insured any one claim. Page 1 of 3 September 2014

3 Optional Covers Contents of residential units Where accommodation is let furnished, cover can be effected for loss or destruction of, or damage to, furniture and furnishings. The basis of payment for lost or destroyed property will be the current replacement cost as new and your sum insured should be calculated accordingly. Employers liability Covers your legal liability for death, bodily injury, illness, disease or shock sustained by employees during the course of their employment with you, in connection with the buildings insured by this policy. The limit of liability provided is 10,000,000 and includes legal costs and expenses, as well as any compensation you may be liable to pay. Significant and unusual exclusions or limitations Please refer to our standard policy wording for a full list of the exclusions and limitations specifically relating to buildings, which are similar to those applied by other insurers. We would specifically draw your attention to the following. Unless specifically advised to you to the contrary, you will bear the first 100 of each claim increasing to o 250 in respect of escape of water or oil from any interior fixed heating or domestic water installation, washing machine, dishwasher, refrigerator or freezer for buildings comprising a flat or maisonette; and o 1,000 in respect of subsidence, heave and landslip. If, for more than 60 consecutive days, the building is not furnished for normal occupation, or is furnished for normal occupation but has not been lived in by you or any person with your permission, cover in respect of escape of water or oil from any interior fixed heating or domestic water installation, washing machine, dishwasher, refrigerator or freezer, damage to any fixed heating or domestic water installation caused by freezing or forcible and violent bursting, theft or attempted theft, malicious persons or vandals, accidental breakage or accidental damage will not be provided. No cover shall apply for loss or damage by malicious persons or vandals or as a result of theft or attempted theft which any resident of the building has caused, allowed, chosen to overlook or not reported to the police. Legal expenses optional extension Significant features and benefits This section covers the cost of legal action as a result of disputes arising out of the buildings insured by the policy. your prosecution arising from an offence involving the following legislation. o The Gas Safety (Installation and Use) Regulations o The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (and 1993 amendment). o The Electrical Equipment (Safety) Regulations Significant and unusual exclusions or limitations Please refer to our standard policy wording for a full list of the exclusions and limitations specifically relating to legal expenses, which are similar to those applied by other insurers. Helplines You will be entitled to use the helpline facility which, as well as offering qualified legal opinion, will also offer advice for domestic emergencies such as burst pipes or floods. General Notification of claims If you need to notify us of a claim, or of any circumstances or incident that may cause a claim, you should contact your insurance intermediary Alternatively, you may contact Amlin UK at Amlin House, Parkway, Chelmsford, Essex CM2 0UR. Page 2 of 3 September 2014

4 Telephone: You should immediately report to the police any incident involving theft, malicious damage, vandalism or loss of property. The policy document provides full details of the action you should take in the event of a claim. Insurer This Amlin Residential Landlords Insurance is underwritten by Lloyd s Syndicate 2001 managed by Amlin Underwriting Limited through its service company Amlin UK Limited. Legal Helplines are provided by by MSL Legal Expenses Limited. Cancellation If you decide that you do not wish to accept the policy, you may return it within 14 days of receipt and we will refund the premium, provided that you have not made a claim during this period. You may cancel the policy at any time and we will allow a refund of premium paid in accordance with the short period rates in force at the time of cancellation. We may cancel this insurance where there is a valid reason by sending 30 days' notice to your last known address. We will work out the premium for the period we have been insuring you and refund any difference. No return of premium paid will be allowed if a claim has occurred during the same insurance period. Compensation Amlin Underwriting Limited is covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if Amlin Underwriting Limited cannot pay a claim to you under this contract. If you are entitled to compensation under the scheme, how much compensation you would receive would depend on the nature of this contract. You can get more information about the scheme from the Financial Services Compensation Scheme (10th Floor, Beaufort House, 15 St Botolph Street, London, EC3A 7QU and on their website at Complaints procedure We are dedicated to providing you with a high standard of service and we want to ensure we maintain these standards at all times. If you wish to make a complaint, you can do so at any time by referring the matter to us at: Complaints Manager, Amlin Underwriting Limited, St Helen s, 1 Undershaft, London EC3A 8ND. [email protected] Telephone: If your complaint cannot be resolved by us, or if you remain dissatisfied, you may refer your complaint to Lloyd's, who will investigate and assess this complaint. Lloyd's contact details are as follows: Lloyd s Policyholder & Market Assistance Team at Lloyd s: Policyholder & Market Assistance, Market Services, Lloyd s, One Lime Street, London EC3M 7HA. [email protected] Telephone: Fax: Details of Lloyd s complaints procedures are set out in a leaflet Your Complaint How We Can Help available at and are also available from the above address. Ultimately, should you remain dissatisfied with Lloyd's final response, you may, if eligible, refer your complaint to the Financial Ombudsman Service (FOS). Please note that you are able to escalate your complaint to FOS within six months from the date of Lloyd s final response letter. Details of who is eligible to refer a complaint to the FOS can be found on their website at Page 3 of 3 September 2014

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