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.
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.
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.
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.
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: firstname.lastname@example.org
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.