This is a summary of the standard cover available under the Property Owners policy arranged by Alan Blunden & Co Ltd on the Abacus scheme underwritten by Fortis Insurance Limited. The summary does not include all the policy benefits, limits and exclusions; full terms and conditions can be found in the Policy Wording, a copy of which is available from your insurance adviser on request. The policy, and not this summary, is the basis of the contract of insurance.
Fortis Commercial Guard Property Owners Policy
The Property Owners Insurance Policy is an annual insurance contract that gives cover for let residential properties. The policy is underwritten by Fortis Insurance Limited, with the exception of the Legal Expenses section which is placed by Abacus through another insurer.
The cover may be varied to meet your individual needs and any variations from standard will be detailed in any quotation given and thereafter in the policy schedule. If you opt for a period of insurance that is greater than one year, you are advised to review your cover periodically. The sums insured you choose
must represent the full values at risk; if they do not, payments may be reduced in the event of a claim. Refer to your insurance adviser for full advice on your sums insured and cover requirements.
The Property Owners policy has specified sections and sub- sections of cover. Some of these are standard and are applied automatically and others are optional and can be included at your request. This policy summary is set out following the available sections of cover in the policy wording.
Insurance Commercial Lines Insurance Personal Lines
Commercial Guard – Property Owners Policy Summary
Section 1
Material Damage (Standard Cover)
The insurance can include damage by the following causes which are as defined in the Cover Causes section of the policy wording. The policy schedule will show which causes are insured for each item.
Principal Cover and Benefits of Section 1
Glass, Blinds and Signs (Standard Cover)
Covers damage to the following items for the limits shown:
Principal Cover Extensions to Section 1
The following are additions to cover that are included as standard with cover taken under Section 1 so do not need to be additionally requested to be included:
• Underground Services • Capital Additions • Workmen • Loss of Metered Water • Trace and Access
• Clearing of Drains • Index linking • Theft of Keys and Replacement of Locks • Debris Removal • Landscaped Gardens
• Fire, lightning or explosion • Specified perils • Accidental damage • Theft or attempted theft
• Subsidence
Please refer to Section 1 of the policy wording for the full details of cover provided by these extensions.
Property Covered Maximum Amount Payable
Buildings (Standard Cover)
The structure of your business premises including walls, gates and fences and landlord’s fixtures and fittings, (but not carpets or glass, blinds and signs) plus professional fees
The sum insured selected
Contents of Common Areas
(Standard Cover)
£5,000
Landlord’s Contents
(Optional Cover)
The sum insured selected
Maximum Amount Payable
• External glass and property in a display window caused by breaking glass • Fixed plate glass (including mirrors and showcases) inside the premises • External electric signs • Sanitary ware
• External blinds • Boarding up and reinstating intruder alarm systems
Cost of repair or replacement £2,500 £1,500 £2,500
£2,500 Reasonable cost
Page 2 COM074 Jan 07
Principal Exclusions to Section 1
• Detached outbuildings which are not built of brick, stone, slate or tile, unless specifically requested
• Theft that does not involve entry to or exit from the premises by forcible and violent means or that does not involve actual or threatened assault or violence or use of force
• Theft from any garden, yard, open space, or detached outbuilding, unless cover specifically included
• Theft by any employee or person lawfully on the premises • Theft, riot, malicious damage or escape of oil or water or sprinkler leakage when your premises are unoccupied
• Storm or flood damage to fences, gates and moveable property in the open or open sided buildings, unless specifically included
• Damage to articles of a brittle or fragile nature
Section 2
Loss of Rent (Optional Cover)
Principal Cover and Benefits of Section 2
Covers loss as a result of interference or interruption with the business in consequence of damage to property insured by Section 1, for which liability has been admitted. Available cover is detailed below.
Principal Cover Extensions to Section 2
The following are additions to cover that are included as standard with cover taken under Section 2 so do not need to be additionally requested to be included:
• Denial of Access • Public Utilities
Please refer to Section 2 of the policy wording for the full details of cover provided by these extensions.
• Subsidence damage to outbuildings, yards, pipes, cables, wires, ducting, car parks, roads, pavements, walls, gates and fences unless the structure of the main building is also affected
• Wear, tear, depreciation, loss of use, scratching, rust or other gradually operating cause, mechanical or electrical breakdown
• Breakage or damage of glass, arising from repairs or alterations to the premises or in unoccupied premises
• The first amount, as detailed in the quote or schedule, of any claim
Please refer to Section 1 of the policy wording for the full details of all the exclusions.
Cover Indemnity Period Maximum Amount Payable
Rent Receivable and increased cost of working (Optional Cover)
12 months
The sum insured selected
Cost of Alternative Accommodation on residential properties (Standard Cover if Rent Receivable cover taken)
12 months
50% of the sum insured on Rent
Page 3 COM074 Jan 07
Section 3
Liabilities (Standard Cover)
Principal Cover and Benefits of Section 3
Covers legal liability to pay compensation in the event of accidental injury or damage to property arising in connection with the ownership of the premises or in the course of the business, as detailed below.
In each case claimant’s costs, expenses, legal costs and solicitors’ fees are payable.
Principal Cover Extensions to Section 3
The following are additions to cover that are included as standard with cover taken under Section 3 so do not need to be additionally requested to be included:
• Leased, Hired or Rented Premises • Defective Premises Act 1972 • Health and Safety at Work Act 1974 • Data Protection Act 1998 • Court Attendance
Please refer to Section 3 of the policy wording for the full details of cover provided by these extensions.
Principal Exclusions to Section 3
• Liability arising in connection with work on some specified hazardous locations which are detailed in Section 3 of the policy wording
• Liability arising in connection with certain equipment which is detailed in Section 3 of the policy wording
• Liability which attaches, because of an agreement, but which would not have attached in the absence of the agreement
• Liability arising: – out of pollution or contamination unless caused by a
sudden, identifiable, unintended, and unexpected incident; the maximum liability of the company for pollution or contamination which is deemed to have occurred during any one period of insurance is £1m in aggregate
– through the defective design, plan, formula, or specification of products supplied given for a fee or for which a fee would normally be payable
– out of technical, professional or remedial instruction and advice given for a fee or for which a fee would normally be charged
–
out of treatment given or administered or any failure to
Cover Maximum Amount Payable
Employer’s Liability
(Standard cover)
Injury to clerical, caretaking and maintenance employees in the course of their employment
£10,000,000 for any one event
Property Owner’s Liability (Standard cover)
Compensation to members of the public in the event of accidental injury, damage to property or obstruction, trespass, nuisance, or interference with any right of way, air, light or water
£1,000,000 for any one event
give advice or treatment, or any lack of professional skill • Damage to property belonging to the Insured or held in trust
by or in the custody or control of the Insured or employee • Claims made in any country outside the European Union • Liability for property being worked on where the damage is
the direct result of the work undertaken • Liquidated damages, fines, penalties, exemplary, punitive or
multiplied damages • Liability for damage to products supplied other than food or
drink supplied in the course of the business and consumed
on the premises • Liability arising out of asbestos apart from specified
exceptions as detailed in Section 3 of the policy wording • The first amount, as detailed in the quote or schedule, of any
property damage claim
Please refer to Section 3 of the policy wording for the full details of all the exclusions.
Page 4 COM074 Jan 07
Section 4
Legal Expenses (Not Available)
This Section is not available for this Scheme through Fortis Insurance. Please refer to your insurance adviser for details of the separate Legal Expenses insurance arranged through Abacus.
Full terms and conditions can be found in the separate Legal Expenses policy wording.
Exclusions, cancellations, claims and complaints
Excluded Property
There is no cover under this policy for antiques, furs, suede or leather clothing (other than footwear), jewellery, gold or silver articles, firearms, ammunition, explosives and fireworks which are all excluded, unless specifically requested and shown as included.
Terrorism
This policy excludes all losses arising from, caused by, or contributed to by terrorism, except for Employer’s Liability where cover is subject to a limit of £5,000,000 for any one event. Terrorism cover can be purchased on request.
Unoccupancy
There is no cover under the policy for properties which are unoccupied for more than 60 consecutive days at inception or new properties added mid term.
If the Premises or Buildings become unoccupied mid term for more than 30 days, Cover is automatically restricted to Fire, Lightning, Explosion, Aircraft and (if insured prior to unoccupancy) Subsidence.
Please refer to the General Conditions and Exclusions section of the policy wording for full details of all the general policy exclusions.
Cancellation Procedure
There is an option to cancel this policy within 14 days of receipt of the policy schedule and wording. A refund of premium will be allowed for the time that was left on the policy.
Claim Notification
For all claims please contact Abacus Claims Department on 0870 0668012. The line is open 9am-5pm Monday to Friday. The claims handler will ask your name, policy number and full details of the loss circumstances. You will be advised on the procedures and what documentation is required by us to deal with your claim. Alternatively you can send your claim details to
Abacus, 7th floor, Maitland House, Warrior Square, Southend On Sea, Essex, SS1 2JN. Full claims procedures are noted in the policy wording under the General Conditions and extra details are noted on the Policy Schedule.
Complaint Procedure
If you are unhappy with any part of our service, please contact Abacus, 7th floor, Maitland House, Warrior Square, Southend On Sea, Essex, SS1 2JN. If you are still not happy follow the steps below:
Step 1
Step 2
Step 3
Contact a Fortis Customer Service Adviser, Fortis Insurance Limited, Fortis House, Tollgate, Eastleigh, Hampshire SO53 3YA. England
If your complaint has not been resolved, contact Barry Smith, Chief Executive, Fortis Insurance Ltd at the same address, unless your problem relates to legal expenses insurance in which case please contact DAS Managing Director at DAS House, Quay Side, Temple Back, Bristol, BS1 6NH
If you are not satisfied with our final decision and your business turnover is less than £1 million you can write to the Financial Ombudsman Service at South Quay Plaza 2, 183 Marsh Wall, London, E14 9SR
Financial Services Compensation Scheme
In the event that Fortis Insurance Ltd is unable to meet its liabilities you may be entitled to compensation from the Financial Services Compensation Scheme; their telephone number is 0207 8927300. More information can be found at www.fscs.org.uk
Fortis Commercial Guard Property Owners Policy
The Property Owners Insurance Policy is an annual insurance contract that gives cover for let residential properties. The policy is underwritten by Fortis Insurance Limited, with the exception of the Legal Expenses section which is placed by Abacus through another insurer.
The cover may be varied to meet your individual needs and any variations from standard will be detailed in any quotation given and thereafter in the policy schedule. If you opt for a period of insurance that is greater than one year, you are advised to review your cover periodically. The sums insured you choose
must represent the full values at risk; if they do not, payments may be reduced in the event of a claim. Refer to your insurance adviser for full advice on your sums insured and cover requirements.
The Property Owners policy has specified sections and sub- sections of cover. Some of these are standard and are applied automatically and others are optional and can be included at your request. This policy summary is set out following the available sections of cover in the policy wording.
Insurance Commercial Lines Insurance Personal Lines
Commercial Guard – Property Owners Policy Summary
Section 1
Material Damage (Standard Cover)
The insurance can include damage by the following causes which are as defined in the Cover Causes section of the policy wording. The policy schedule will show which causes are insured for each item.
Principal Cover and Benefits of Section 1
Glass, Blinds and Signs (Standard Cover)
Covers damage to the following items for the limits shown:
Principal Cover Extensions to Section 1
The following are additions to cover that are included as standard with cover taken under Section 1 so do not need to be additionally requested to be included:
• Underground Services • Capital Additions • Workmen • Loss of Metered Water • Trace and Access
• Clearing of Drains • Index linking • Theft of Keys and Replacement of Locks • Debris Removal • Landscaped Gardens
• Fire, lightning or explosion • Specified perils • Accidental damage • Theft or attempted theft
• Subsidence
Please refer to Section 1 of the policy wording for the full details of cover provided by these extensions.
Property Covered Maximum Amount Payable
Buildings (Standard Cover)
The structure of your business premises including walls, gates and fences and landlord’s fixtures and fittings, (but not carpets or glass, blinds and signs) plus professional fees
The sum insured selected
Contents of Common Areas
(Standard Cover)
£5,000
Landlord’s Contents
(Optional Cover)
The sum insured selected
Maximum Amount Payable
• External glass and property in a display window caused by breaking glass • Fixed plate glass (including mirrors and showcases) inside the premises • External electric signs • Sanitary ware
• External blinds • Boarding up and reinstating intruder alarm systems
Cost of repair or replacement £2,500 £1,500 £2,500
£2,500 Reasonable cost
Page 2 COM074 Jan 07
Principal Exclusions to Section 1
• Detached outbuildings which are not built of brick, stone, slate or tile, unless specifically requested
• Theft that does not involve entry to or exit from the premises by forcible and violent means or that does not involve actual or threatened assault or violence or use of force
• Theft from any garden, yard, open space, or detached outbuilding, unless cover specifically included
• Theft by any employee or person lawfully on the premises • Theft, riot, malicious damage or escape of oil or water or sprinkler leakage when your premises are unoccupied
• Storm or flood damage to fences, gates and moveable property in the open or open sided buildings, unless specifically included
• Damage to articles of a brittle or fragile nature
Section 2
Loss of Rent (Optional Cover)
Principal Cover and Benefits of Section 2
Covers loss as a result of interference or interruption with the business in consequence of damage to property insured by Section 1, for which liability has been admitted. Available cover is detailed below.
Principal Cover Extensions to Section 2
The following are additions to cover that are included as standard with cover taken under Section 2 so do not need to be additionally requested to be included:
• Denial of Access • Public Utilities
Please refer to Section 2 of the policy wording for the full details of cover provided by these extensions.
• Subsidence damage to outbuildings, yards, pipes, cables, wires, ducting, car parks, roads, pavements, walls, gates and fences unless the structure of the main building is also affected
• Wear, tear, depreciation, loss of use, scratching, rust or other gradually operating cause, mechanical or electrical breakdown
• Breakage or damage of glass, arising from repairs or alterations to the premises or in unoccupied premises
• The first amount, as detailed in the quote or schedule, of any claim
Please refer to Section 1 of the policy wording for the full details of all the exclusions.
Cover Indemnity Period Maximum Amount Payable
Rent Receivable and increased cost of working (Optional Cover)
12 months
The sum insured selected
Cost of Alternative Accommodation on residential properties (Standard Cover if Rent Receivable cover taken)
12 months
50% of the sum insured on Rent
Page 3 COM074 Jan 07
Section 3
Liabilities (Standard Cover)
Principal Cover and Benefits of Section 3
Covers legal liability to pay compensation in the event of accidental injury or damage to property arising in connection with the ownership of the premises or in the course of the business, as detailed below.
In each case claimant’s costs, expenses, legal costs and solicitors’ fees are payable.
Principal Cover Extensions to Section 3
The following are additions to cover that are included as standard with cover taken under Section 3 so do not need to be additionally requested to be included:
• Leased, Hired or Rented Premises • Defective Premises Act 1972 • Health and Safety at Work Act 1974 • Data Protection Act 1998 • Court Attendance
Please refer to Section 3 of the policy wording for the full details of cover provided by these extensions.
Principal Exclusions to Section 3
• Liability arising in connection with work on some specified hazardous locations which are detailed in Section 3 of the policy wording
• Liability arising in connection with certain equipment which is detailed in Section 3 of the policy wording
• Liability which attaches, because of an agreement, but which would not have attached in the absence of the agreement
• Liability arising: – out of pollution or contamination unless caused by a
sudden, identifiable, unintended, and unexpected incident; the maximum liability of the company for pollution or contamination which is deemed to have occurred during any one period of insurance is £1m in aggregate
– through the defective design, plan, formula, or specification of products supplied given for a fee or for which a fee would normally be payable
– out of technical, professional or remedial instruction and advice given for a fee or for which a fee would normally be charged
–
out of treatment given or administered or any failure to
Cover Maximum Amount Payable
Employer’s Liability
(Standard cover)
Injury to clerical, caretaking and maintenance employees in the course of their employment
£10,000,000 for any one event
Property Owner’s Liability (Standard cover)
Compensation to members of the public in the event of accidental injury, damage to property or obstruction, trespass, nuisance, or interference with any right of way, air, light or water
£1,000,000 for any one event
give advice or treatment, or any lack of professional skill • Damage to property belonging to the Insured or held in trust
by or in the custody or control of the Insured or employee • Claims made in any country outside the European Union • Liability for property being worked on where the damage is
the direct result of the work undertaken • Liquidated damages, fines, penalties, exemplary, punitive or
multiplied damages • Liability for damage to products supplied other than food or
drink supplied in the course of the business and consumed
on the premises • Liability arising out of asbestos apart from specified
exceptions as detailed in Section 3 of the policy wording • The first amount, as detailed in the quote or schedule, of any
property damage claim
Please refer to Section 3 of the policy wording for the full details of all the exclusions.
Page 4 COM074 Jan 07
Section 4
Legal Expenses (Not Available)
This Section is not available for this Scheme through Fortis Insurance. Please refer to your insurance adviser for details of the separate Legal Expenses insurance arranged through Abacus.
Full terms and conditions can be found in the separate Legal Expenses policy wording.
Exclusions, cancellations, claims and complaints
Excluded Property
There is no cover under this policy for antiques, furs, suede or leather clothing (other than footwear), jewellery, gold or silver articles, firearms, ammunition, explosives and fireworks which are all excluded, unless specifically requested and shown as included.
Terrorism
This policy excludes all losses arising from, caused by, or contributed to by terrorism, except for Employer’s Liability where cover is subject to a limit of £5,000,000 for any one event. Terrorism cover can be purchased on request.
Unoccupancy
There is no cover under the policy for properties which are unoccupied for more than 60 consecutive days at inception or new properties added mid term.
If the Premises or Buildings become unoccupied mid term for more than 30 days, Cover is automatically restricted to Fire, Lightning, Explosion, Aircraft and (if insured prior to unoccupancy) Subsidence.
Please refer to the General Conditions and Exclusions section of the policy wording for full details of all the general policy exclusions.
Cancellation Procedure
There is an option to cancel this policy within 14 days of receipt of the policy schedule and wording. A refund of premium will be allowed for the time that was left on the policy.
Claim Notification
For all claims please contact Abacus Claims Department on 0870 0668012. The line is open 9am-5pm Monday to Friday. The claims handler will ask your name, policy number and full details of the loss circumstances. You will be advised on the procedures and what documentation is required by us to deal with your claim. Alternatively you can send your claim details to
Abacus, 7th floor, Maitland House, Warrior Square, Southend On Sea, Essex, SS1 2JN. Full claims procedures are noted in the policy wording under the General Conditions and extra details are noted on the Policy Schedule.
Complaint Procedure
If you are unhappy with any part of our service, please contact Abacus, 7th floor, Maitland House, Warrior Square, Southend On Sea, Essex, SS1 2JN. If you are still not happy follow the steps below:
Step 1
Step 2
Step 3
Contact a Fortis Customer Service Adviser, Fortis Insurance Limited, Fortis House, Tollgate, Eastleigh, Hampshire SO53 3YA. England
If your complaint has not been resolved, contact Barry Smith, Chief Executive, Fortis Insurance Ltd at the same address, unless your problem relates to legal expenses insurance in which case please contact DAS Managing Director at DAS House, Quay Side, Temple Back, Bristol, BS1 6NH
If you are not satisfied with our final decision and your business turnover is less than £1 million you can write to the Financial Ombudsman Service at South Quay Plaza 2, 183 Marsh Wall, London, E14 9SR
Financial Services Compensation Scheme
In the event that Fortis Insurance Ltd is unable to meet its liabilities you may be entitled to compensation from the Financial Services Compensation Scheme; their telephone number is 0207 8927300. More information can be found at www.fscs.org.uk
Policies vary; ensure this document is the correct version for your policy. Whilst we will make every attempt to keep this key fact document up to date, please check directly with the broker or insurance company for the most up to date version.