Hiscox Syndicates

Policy Summary

 

 

HVH Household Insurance

What is a Policy Summary?

This document provides key information about the Hiscox Syndicates Home and Contents insurance policy. If you have any other questions then please contact your insurance agent.

Policy name: High Value Household

Type of insurance: Home and Contents insurance

Underwritten by: Hiscox Syndicate 33 @ Lloyd’s

Significant Features and Benefits

This policy is specifically designed for owners of historic houses and higher value homes and possessions, and provides you with broader cover to suit your needs.

Key Benefits Include:

Broader cover

  1. • Cover for your possessions wherever they are in the world including accidental loss and damage (most standard policies will only cover possessions against named perils such as fire, storm, theft, flood etc.)
  2. • Buildings covered for full accidental damage
  3. • Wider than standard cover in all areas – for example there is no need to list items of fine art and valuables under £5,000 respectively
  4. • Public Liability (£10,000,000) and Employers’ liability (£10,000,000) cover included

A Flexible approach

  1. • A practical approach to security and fire protection
  2. • Premium discounts given if buildings, contents, fine art or valuables sections have recently been valued by an approved valuer
  3. • Automatic cover for new acquisitions subject to an additional premium

Additional covers – available at an additional cost

  1. • Cover for any commercial extensions, including business equipment, loss of takings, stock and liabilities.

Significant or Unusual Exclusions/Limitations

There are no unusual exclusions or limitations in our policy.

You will normally have to pay the initial £100 for each claim. All subsidence claims are subject to a £1,000 excess. These excesses may vary by your choice and/or underwriting criteria. Your quotation and policy schedule will show the specific excesses applicable to you.

All communications, including the policy wordings, are written in plain English to ensure you know exactly what is covered. Any special conditions and terms that may apply will be found in your individual quotation and schedule.

Duration of Contract

Insurance contracts normally run for a period of 12 months. Please speak to your insurance broker if you require a different period. We strongly urge our customers to review their contract each year to ensure they have adequate cover in place.

Cancellation Rights

You can cancel your new insurance policy up to 14 days from the start of the contract (plus postage time) and receive a full premium refund. After this you may cancel your insurance at any time by writing to us. If you have not made a claim, we will return any premium you have paid for any period of insurance left. However, we will not return any premium if the amount is less than the minimum refund shown in the schedule.

We may cancel your insurance policy by sending your 30 days’ notice by registered post to your correspondence address shown in the schedule. We will return any premium you have paid for any period of insurance left and will not charge any cancellation penalties such as administration charges.

Claims Service

If you suffer a loss and need to make a claim you should contact your insurance agent immediately.

Questions and Complaints

If you have a question or complaint, please speak to your insurance agent or contact us directly using the details below:

Hiscox Customer Services

1 Great St Helen’s,

London

EC3A 6HX

Telephone: 0870 084 3777

If you are not satisfied with the way your complaint has been handled, you may ask the Ombudsman to review your case without affecting your statutory rights.

We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations.

The maximum level of compensation you can receive from the Scheme for a claim against an insurance firm depends on the type of insurance policy, as described here. FSCS may arrange to transfer your policy to another insurer, provide a new policy or if these actions are not possible, provide compensation. In respect of Non-compulsory insurance (such as home insurance): the first £2,000 of a claim or policy is protected in full. Above this threshold, 90% of the rest of the claim or value of unused premiums will be met.

Your Hiscox Quotation

You should discuss with your insurance agent exactly what your insurance needs are. They will then provide you with a quotation based on the information you have provided.

The quotation you receive from your insurance agent should give a breakdown of the total price, including the amount we will receive, as well as any related fees, charges, expenses and taxes applicable. The quotation will be valid for a specified period. Under some circumstances, your insurance agent may make some additional charges during the life of the policy. Please check with your insurance agent for details.

Please note that this policy summary document does not contain the full terms and conditions of this contract. These can be found in the HVH home and contents policy wording. If you would like a copy of the full policy wording, please contact your insurance agent.

Hiscox Syndicates is authorised and regulated by the Financial Services Authority and is also a member of the Association of British Insurers. Unless some other law is agreed in writing, this policy will be governed by the laws of England.