Insurance Policy

INSURED PERILS

Actual physical loss of or damage to our customers’ property caused by fire, lightning, explosion, earthquake, aircraft or articles dropped therefrom, storm, flood, bursting &/or leaking pipes, ingress of water or other liquid substance, moth, insect or vermin from an external cause, theft accompanied by forcible and violent entry to or exit from the building or unit, riot, strike, civil commotion, malicious damage, and impact by vehicle or railway rolling stock. Where the transit is undertaken by us collision or overturning of the conveying vehicle is included.

 

BASIS OF CLAIMS SETTLEMENT

The settlement of any claim shall be by replacement, repair and/or compensation at Insurer’s option. In the event of the total loss or destruction of any item insured under this Insurance, the basis of settlement shall be the cost of replacing the item as new provided that the item is substantially the same as but not better than the original when new. Household linen and clothing Where any claim includes loss of or damage to any items of household linen and clothing, Insurers will take into consideration the age, quality, degree of use and consequent market value of any such lost or damaged item(s). Documents where any claim includes loss of or damage to documents the basis of settlement shall relate to the reasonable costs of reprinting and/or reasonable costs of reissue and/or reconstitution including, where applicable, fresh research or exploration to obtain essential information.

POLICY EXCESS

Insurers will not pay the first £50 of each customer’s claim.

EXCLUSIONS

No cover is provided for the following:

1) Money, Coins, Bullion, Deeds, Bonds, Securities and the like.

2) Livestock, Explosives and Flammables

3) Jewellery, Watches, Precious Stones, Stamps of all kinds exceeding £500 combined total.

4) Furs, fine arts, perfumery mobile phones, tobacco, cigars, cigarettes, beers, wines, spirits & the like exceeding £10,000 combined total.

5) Electronic items exceeding £10,000 in total. Electronic items are defined as all items of consumer and commercial electrical appliances and instruments including but not limited to radios, televisions, computers, computer software, hard drives, chips, microchips, printed circuit boards and their components, modems, monitors, cameras, facsimile machines, photocopiers, VCRs, hi-fi, stereos, CD players and the like. (Heavy electrical items such as switchgear, turbines and generators and the like shall be deemed not to be electronics)

6) Any goods which you are not permitted to store under the terms of the Licence Agreement

7) Loss of data records other than cost of blank data carrying materials.

8) Any consequence of War, Invasion, Act of Foreign Enemy Hostilities (whether War be declared or not), Civil War, Rebellion, Revolution, Insurrection or Military or Usurped Power or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority.

9) Ensuing or indirect losses resulting from or as a consequence of claims made for loss or damage arising from an Insured Peril

10) Loss or damage from:

a) ionising radiation from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel;

b) the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or nuclear component thereof,

c) any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.

d) the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion of this sub clause does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried stored or used for commercial, agricultural, medical, scientific or other similar peaceful purposes.

11) Loss or damage from any chemical, biological, biochemical or electromagnetic weapon. The use or operation as a means of inflicting harm or any computer system, computer software program, computer virus or process or any other electronic system.

12) Loss of or damage to your property directly caused by pressure waves caused by aircraft and other aerial devices travelling at sonic or supersonic speeds

13) If at the time of loss there is other insurance in force this insurance shall only respond to the extent that losses are not recoverable under the other insurance

14) Loss of or damage to your property caused by or resulting from any act(s) of terrorism or any person(s) acting from a political motive.