Page: Insurance Key Facts

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Item insurance

A lender can choose to have their item insured during a lend. Ecomodo has partnered with RSA (formally Royal Sun Alliance) to provide this service.

Summary of Insurance

RSA insurance protects lenders against damage or loss of personal items whilst being lent through ecomodo.

This policy summary brings some important points to your attention. The Key Facts document and full Terms and Conditions can be found lower down this page. Please read these alongside this summary as they will help you to decide if this insurance is right for you.

About the insurer

Insurance on ecomodo is provided by RSA plc.

What does insurance cover ?

Actual physical loss of or damage to property during a ‘lend’ caused by ..

  • fire, lightning, explosion, earthquake, storm, flood, burst pipes &/or leaking pipes
  • theft* accompanied by forcible and violent entry or exit
  • riot, strike, civil commotion
  • malicious damage *
  • impact by vehicles or aircraft
  • Accidental Damage

* theft and malicious damage by hirer are not covered.

Am I eligible ?

To be eligible for this policy you must be the owner of the item and a registered member of ecomodo.

Is my item eligible ?

To be eligible for this policy, your item must be:

  • lent out via ecomodo
  • valued between £50 and £1500 for non electrical items (Items over £1500 can be insured with prior agreement of the underwriter.)
  • valued between £50 and £1000 for electrical items (Items over £1000 can be insured with prior agreement of the underwriter.)
  • not in the exclusion list in the policy document (below)

How much does insurance cost ?

A one off premium will cover the specified transaction period and will be added to the hire charge for the borrower. This is calculated based on the value of your item and the duration of cover.

Ecomodo takes no commission on your premium.

How long does a policy last for?

This policy starts on the agreed start date and ends on the agreed end date. This must correspond the period of lend.

How is a claim calculated ?

A claim will be based on the costs associated with returning your item to the same condition it was in prior to the lend up to a maximum value provided by you.

A 30% excess applies on all claims. (Nb. that if you also chose to take a deposit and hire fees this will usually mean most of the value of your item is protected)

All claims will be considered solely by RSA. Ecomodo has no influence over the claims process.

Can policies be cancelled ?

Policies can be cancelled at any time prior to the start date.

How do I contact RSA ?

Claims will be referred automatically through ecomodo when you report a problem and choose to make a claim.

If you wish to contact the claims managers directly please contact one of these people at RSA:
David H Bell - Property Claims Glasgow - 0141 285 8155
Angela Kelly - Property Claims Glasgow - 0141 285 8394

Contact details for complaints are included in this pdf file.

Click here to view the Key Facts document from RSA

RSA Policy Details

The Policy Document outlines the full terms and conditions that will apply to this policy.

The Policy Document outlines the full details of RSA insurance for ecomodo lenders. This is the full terms and conditions that will apply to this policy.


THE CLAUSES

1) INSURER Royal & SunAlliance Insurance PLC

2) INSURED PERILS Actual physical loss of or damage to your property caused by fire, lightning, explosion, earthquake, storm, flood, burst pipes &/or leaking pipes, theft accompanied by forcible and violent entry or exit, riot, strike, civil commotion, malicious damage and impact by vehicles or aircraft. Including Accidental Damage.

3) TOTAL SUM INSURED As requested by you and shown in the Schedule above. The total sum insured shall not exceed £1,500 unless confirmed in writing by us. The total sum insured can be increased on payment of an additional premium, subject to Underwriters’ prior agreement.

4) UNDER-INSURANCE (AVERAGE CLAUSE) If you fail to declare the full new value of your property on the Insurance Application, in the event of a claim you will only be entitled to recover from Underwriters the proportion of the loss as the declared value bears to the full new value of your property - if you under-insure you may well suffer.

5) PAIRS & SETS Where any items are part of a pair or of a set Underwriters shall only pay for the actual items which are lost or damaged. No payment will be made by Underwriters for any items which are part of a pair or of a set and which are not lost or damaged.

6) RIGHT TO CANCEL You have the right to cancel this insurance without penalty at any time PRIOR TO WHEN THE HIRE OF YOUR PROPERTY BEGINS. Once the goods are hired, your right to cancel ceases and you will be charged the full premium for the insurance. If once you have checked your policy you decide not to proceed with the insurance you have a statutory right to cancel the policy within 14 days, starting on the day you agree to the policy terms online.

7) BASIS OF CLAIMS SETTLEMENT The settlement of any claim shall be by reinstatement, repair or replacement to a condition substantially the same as but not better or more extensive than its condition when new at Underwriter’s option provided the cost of reinstatement has actually been incurred. Documents Where any claim includes loss of or damage to documents, the basis of settlement shall be to indemnify you for reasonable costs of reprinting and/or reasonable costs of reissue and/or reconstitution including, where applicable, fresh research or exploration to obtain essential information.

8) POLICY EXCESS Underwriters will not pay 30% of each claim.

9) PAYMENT OF PREMIUMS Underwriters shall only be liable to settle a claim recoverable under this Insurance provided we confirm that we have received all insurance premiums due from you.

10) TIME LIMIT FOR CLAIMS NOTIFICATION All claims must be notified to us at the time of discovery of the loss of or damage to your property.

11) CHOICE OF LAW AND JURISDICTION Unless the parties have agreed otherwise in writing any dispute concerning the interpretation of the Policy shall be governed & construed in accordance with English law & shall be resolved within the non-exclusive jurisdiction of the courts of England & Wales.

12) DUTY OF DISCLOSURE It is your responsibility to ensure that all material facts have been disclosed to Underwriters i.e. any facts which may affect Underwriters’ view of the risk. If you are unsure of whether a fact needs to be disclosed, it is recommended that details are provided to Underwriters for consideration. Please also ensure that all the information provided by you are correct as these details will form the basis of the insurance contract between you and Underwriters. If your circumstances change between the date you purchase the policy and the date when you require the policy to commence, please tell us. Incorrect information or failure to disclose all material facts could invalidate all or part of the cover and result in a claim being declined.

13) PROPERTY COVERED SUBJECT TO SPECIFIED LIMITATIONS Unless agreed otherwise in writing by us, the following limitations apply :- a) Electronic items are limited to a total of £1,000 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, VCR’s, hi-fis, stereos, CD players and the like. (Heavy electrical items such as switchgear, turbines, generators and the like shall be deemed not to be electronics.)

14) EXCLUDED PROPERTY No cover is provided for the following; a) Money, Coins, Bullion, Deeds, Bonds, Securities and the like. b) Livestock c) Explosives and Flammables d) Loss of data records other than cost of blank data carrying materials. e) Jewellery, Watches, Precious Stones, Stamps of all kinds f) Furs, fine arts, mobile phones, perfumery, tobacco, cigars, cigarettes, beers, wines, spirits and the like

15) EXCLUDED CAUSES a) 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 your property by or under the order of any government or public or local authority. b) Consequential loss of any kind or description. c) Loss or damage from; i) ionising radiation from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel ii) the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or nuclear assembly or nuclear component thereof iii) any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter. iv) the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion in 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. d) Loss or damage from: i) any chemical, biological, bio-chemical or electromagnetic weapon ii) the use or operation, as a means for inflicting harm, of any computer, computer system, computer software program, computer virus or process or any other electronic system. iii) inherent vice latent defect gradual deterioration wear and tear. e) 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. f) 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. g) 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. h) This insurance shall be voidable in the event of misrepresentation, mis-description or non-disclosure in any material particular. i) If the claim be in any respect fraudulent, or if any fraudulent means or devices be used by the Insured or any one claiming indemnity under this Insurance or any one acting on his or their behalf, to obtain any benefit under this insurance, or if any loss or damage be occasioned by the wilful act or with the connivance of the Insured, or any one claiming indemnity under this Insurance, all benefit under this Insurance will be forfeited. j) Loss or damage from: i) Malicious Damage by the hirer. ii) Theft by the hirer.

16) CLAIMS PROCEDURE If your goods become lost or damaged and you wish to make a claim on this insurance you should obtain a claim form from RSA. Any claimant under this insurance shall at the request and at the expense of the Underwriters do and concur in doing and permit to be done all such acts and things as may be necessary or reasonably required by the Underwriters for the purpose of enforcing any rights and remedies, or of obtaining relief or indemnity from other parties to which the Underwriters shall be or would become entitled or subrogated upon their paying for or making good any loss or damage under this insurance, whether such acts and things shall be or become necessary or required before or after his indemnification by the Underwriters.

17) CUSTOMER SERVICE AND COMPLAINTS If you feel you have not been offered a first class service, please write and tell us and we will do our best to resolve the problem.

Complaints Procedure We aim to provide you with a first class service. If we have not delivered the service that you expect or you are concerned with the service provided, we would like the opportunity to put things right

Our Complaints Process Initially, contact us to raise your concern with: Neil Cann, Claims Account Manager Tel: 01403 231 739 Fax: 01403 325 896 E-mail: neil.cann@uk.rsagroup.com

If your complaint is against Royal & Sun Alliance Insurance plc alone, we will pass your complaint to their nominated contact within 24 hours. This will also happen if we believe that we cannot resolve your complaint without the involvement of Royal & Sun Alliance Insurance plc or there is any query relating to the complaint. the compliance procedure of Royal & Sun Alliance Insurance plc will then apply. If your complaint is not resolved or you are not happy with the response and course of action proposed by Royal & Sun Alliance plc, you can progress your complaint to Royal & Sun Alliance plc Customer Relations Office who will carry out a separate investigation to attempt to resolve your complaint and will issue a final decision.


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