Please note that irrespective of whether or not you instruct the Facility Owner to arrange insurance for your property their liability for actual physical loss of or damage to your property is limited by the terms of their Licence Agreement which form part of their contract with you.
SUBJECT TO YOU GIVING THE FACILITY OWNER INSTRUCTIONS TO INSURE, they can arrange on your behalf insurance Underwritten 100% by Certain Underwriters at Lloyd’s to cover physical loss or damage to your property whilst stored with the Facility Owner within their “Open Cover” insurance arrangements as summarised below. You may inspect the policy at their oﬃce on request.
total sum insured
The full true total maximum value of the property at all times as declared to the Facility Owner on the Licence Agreement or elsewhere in writing. The sum insured shall in no circumstances exceed GBP 50,000 for any one customer unless conﬁrmed in writing by the Facility Owner. The total sum insured can be increased on payment of an additional charge, subject to the prior agreement of the Facility Owner and Insurers.
Actual physical loss of or damage to your customers’ property caused by ﬁre, lightning, explosion, earthquake, storm, ﬂood, bursting &/or leaking pipes, ingress of water or other liquid substance, aircraft or articles dropped therefrom, 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, impact by vehicles or railway rolling stock.
This insurance is effective from the time your insured property is placed in to storage and ceases upon removal from storage – no cover applies during loading and unloading or during transit.
It is a condition of the insurance that the sum insured represents the full true total value of the property stored at all times. If you fail to declare the full replacement value of your property on the Licence Agreement, in the event of a claim you will only be entitled to recover from Insurers the proportion of the loss as the declared value bears to the total replacement value of your property.
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 item(s) 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).
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.
consumer right to cancel
Insurers have to give you certain information before you make your decision. If you have not been given this information when you buy your insurance (and you have not told the Company you do not want it) Insurers will allow you a “cooling off” prior of at least 14 days from the time you receive the information. If you do not want to continue with the insurance, you may cancel your cover within this period and receive all your money back (as long as you have not made any claims).
You have the right to cancel this insurance without penalty at any time PRIOR TO THE COMMENCEMENT OF THE INSURANCE. Once the insurance has commenced, your right to cancel ceases and you will be charged the full premium for the insurance.
Insurers will not pay the ﬁrst GBP 50 of your claim.
pairs & sets limitation clause
Where any items of your property are part of a pair or of a set Insurers shall only pay for the actual items which are lost or damaged. No payment will be made by Insurers for any items which are part of a pair or of a set and which are not lost or damaged.
your duty to provide information
It is your duty to take reasonable care to answer all questions honestly and to the best of your knowledge and commercial customers must make adequate enquiries within your business to identify and verify that information relevant to the insurance of your property is disclosed. If you do not, your insurance policy may be cancelled or treated as it if never existed or your claim may be rejected or not paid in full. It is important that all statements you make on all documents are full and accurate. Failure to accurately provide requested information could invalidate your insurance cover and mean that part or all of a claim may not be paid.
Full details of any losses and/or damages must be notified in writing to the Facility Owner at the time of the discovery of the loss of or damage to your property or at the time of removal of your property from the store whichever is sooner.
customer service and complaints
Insurers are dedicated to providing a high quality service and want to ensure that this is maintained this at all times. If you feel you have not been oﬀered a ﬁrst class service please contact Cunningham Lindsey who will do their best to resolve the problem. Cunningham Lindseys contact details are:
Cunningham Lindsey UK Ltd, Specialist Sectors, PO Box 76, Cardiff, CF11 1JX. Tel: 0845 604 7938 Fax: 0845 604 8632 Email: [email protected]
If Cunningham Lindsey cannot resolve the situation you can then refer the matter to the Complaints Department at Lloyd’s who may, in certain circumstances be able to review the matter. Their address is:
Complaints Department Lloyd’s
One Lime Street
London EC3M 7HA
Tel No: 020 7327 5693
Fax No: 020 7327 5225
E-mail: [email protected]
In the event that the Complaints Department is unable to resolve your complaint it may in certain circumstances be possible for you to refer it to the Financial Ombudsman Service at:
Harbour Exchange Square
London E14 9SR
Tel No: 0800 023 4567
Email: [email protected]ﬁnancial-ombudsman.org.uk
financial services comensation scheme
Lloyd’s is covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the Scheme if we cannot meet our obligations to you under this contract. If you were entitled to compensation under the Scheme, the level and extent of the compensation would depend on the nature of this contract. Further Information about the Scheme is available from the Financial Services Compensation Scheme (10th Floor, Beaufort House, 15 St Botolph Street, London EC3A 7QU) and on their website: www.fscs.org.uk
customer own insurance
We do accept other policies subject to them meeting our minimum criteria, please be aware that in general household policies are not acceptable. If you have your own storage broker and want to use an alternative policy, please email your policy document to us ahead of time so we can check that it includes all the main coverage items. We do not accept policies from Insurastore. Please note: you must whenever a policy is changed or renewed provide to us physical proof of the new policy document.