This is a summary of your Rent Guarantee policy and does not contain the full terms and conditions of the cover, which can be found in the policy wording. It is important that you read the policy wording carefully when you receive it.
Type of insurance and cover
The Rent Guarantee Policy protects you, in respect of professional costs and unpaid rent as itemised in your policy wording, for the period commencing from when you pay or promise to pay the premium, which in no circumstances can exceed 12 months.
Significant features and benefits
Your policy includes the following features, which are explained in detail in your policy leaflet:
Significant and unusual exclusions or limitations
Your policy excludes some situations. Please refer to your policy wording for full details although the most significant or unusual exclusions are outlined below.
Benefit will not be paid in respect of the following: • Which is not reported to the Insurer within 30 days of it occurring. • Within the first 90 days of the period of insurance where the tenancy agreement
commenced before the period of insurance. • Where the insured fails to provide evidence relating to the tenant reference. • Arising from and connected to the insured’s performance of his obligations under the
tenancy agreement. • Where there are insufficient prospects of success in the proceedings due to the terms
of the tenancy agreement being unenforceable. • Arising from dispute between the insured and his agent or mortgage lender. • The insured event began to occur or had occurred before the insured purchased this
policy. • The insured fails to give proper and prompt information or evidence to the insurer or
the professional adviser. • The insureds act, omission or delay prejudices the insurers position in connection
with the proceedings or prolongs the length of the claim. • The insured has breached a condition of this policy. • The insured has reasonably realised when purchasing this policy that a claim under
this policy might occur. • Professional costs have not been agreed in advance or above those for which the
insurer has given prior written approval.
Duration of Policy
The policy will remain in force from the date of commencement for a period which in no circumstances will exceed 12 months.
Cover
Limit of Indemnity
• Professional costs in proceedings if an insured event occurs during the period of insurance
Up to £10,000 of professional costs per claim
• Monthly benefit in respect of rent arrears.
Up to 6 months or until vacant possession has been gained whichever is soonest.
• Benefit will be paid as stipulated in the policy wording at 1/30th of the monthly benefit for each continuous day that rent is in arrears.
Once 6 month’s rent has been paid to the insured the policy shall terminate and all cover shall cease
010506 1
Claims Procedure
If you have a claim, you must make it as soon as possible either by telephone (confirmed in writing) to Complete Claims Ltd on 0161 817 7759 and your written communication should be addressed to Complete Claims Ltd, 4th Floor Grange House, John Dalton Street, Manchester, M2 6FW.
Cancellation
Written confirmation of the cancellation of the policy may be given at any time by you or by us and/or the insurers. We and/or the insurers will give you a minimum of 14 days notice of cancellation to enable you to find alternative cover. You may cancel the policy by giving us written instructions.
Cooling off Period
Before you accept this policy you have 14 days to review your policy wording. If you are not totally happy with this policy and you have not made a claim you can write to us requesting that your insurance is cancelled and that any monies paid be returned. We will then cancel your insurance.
Complaints Procedure
If you have any complaint you can contact the Intermediary who arranged the insurance for you. If you wish to register a complaint in connection with the policy, please contact Complete Claims Ltd in writing:
The Compliance Manager, Complete Claims Ltd, 4th Floor Grange House, John Dalton Street, Manchester, M2 6FW; or
By telephone: 0161 817 7700 By Fax: 0161 817 7701
If your problem isn’t resolved you may contact the insurers, IGI Insurance Company Limited, Market Square House, St James’s Street, Nottingham, NG1 6FG. The insurers will contact you within five days of receiving your complaint to inform you of what action they are taking. The insurers will try to resolve the problem and give you an answer within four weeks. If it will take the insurers longer than four weeks the insurers will tell you when you can expect an answer.
If the insurers have not given you an answer in eight weeks they will tell you how you can take your complaint to the Financial Ombudsman Service for review. This complaints procedure does not affect any legal right you have to take action against the insurers. If you are still not satisfied you can contact the:
Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR
The insurers are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if the insurers cannot meet their obligations. This depends upon the type of business and circumstances of the claim. Most insurance contracts are covered for 100% of the first £2,000 and 90% of the remainder of the claim. Further information is available from the Financial Services Authority or the FSCS. The FSCS can be visited on the internet at www.fscs.org.uk or by contacted on 020 7892 7300
The complaints procedure above does not affect any legal right you may have to take action against us.
This policy is provided by: IGI Insurance Company Limited, Market Square House, St James’s Street, Nottingham, NG1 6FG. Registered No. 1229676. Tel 0115 941 1022 Authorised and regulated by the Financial Services Authority
You can check the above details on the Financial Services Authority Register by visiting the FSA website: www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234
Type of insurance and cover
The Rent Guarantee Policy protects you, in respect of professional costs and unpaid rent as itemised in your policy wording, for the period commencing from when you pay or promise to pay the premium, which in no circumstances can exceed 12 months.
Significant features and benefits
Your policy includes the following features, which are explained in detail in your policy leaflet:
Significant and unusual exclusions or limitations
Your policy excludes some situations. Please refer to your policy wording for full details although the most significant or unusual exclusions are outlined below.
Benefit will not be paid in respect of the following: • Which is not reported to the Insurer within 30 days of it occurring. • Within the first 90 days of the period of insurance where the tenancy agreement
commenced before the period of insurance. • Where the insured fails to provide evidence relating to the tenant reference. • Arising from and connected to the insured’s performance of his obligations under the
tenancy agreement. • Where there are insufficient prospects of success in the proceedings due to the terms
of the tenancy agreement being unenforceable. • Arising from dispute between the insured and his agent or mortgage lender. • The insured event began to occur or had occurred before the insured purchased this
policy. • The insured fails to give proper and prompt information or evidence to the insurer or
the professional adviser. • The insureds act, omission or delay prejudices the insurers position in connection
with the proceedings or prolongs the length of the claim. • The insured has breached a condition of this policy. • The insured has reasonably realised when purchasing this policy that a claim under
this policy might occur. • Professional costs have not been agreed in advance or above those for which the
insurer has given prior written approval.
Duration of Policy
The policy will remain in force from the date of commencement for a period which in no circumstances will exceed 12 months.
Cover
Limit of Indemnity
• Professional costs in proceedings if an insured event occurs during the period of insurance
Up to £10,000 of professional costs per claim
• Monthly benefit in respect of rent arrears.
Up to 6 months or until vacant possession has been gained whichever is soonest.
• Benefit will be paid as stipulated in the policy wording at 1/30th of the monthly benefit for each continuous day that rent is in arrears.
Once 6 month’s rent has been paid to the insured the policy shall terminate and all cover shall cease
010506 1
Claims Procedure
If you have a claim, you must make it as soon as possible either by telephone (confirmed in writing) to Complete Claims Ltd on 0161 817 7759 and your written communication should be addressed to Complete Claims Ltd, 4th Floor Grange House, John Dalton Street, Manchester, M2 6FW.
Cancellation
Written confirmation of the cancellation of the policy may be given at any time by you or by us and/or the insurers. We and/or the insurers will give you a minimum of 14 days notice of cancellation to enable you to find alternative cover. You may cancel the policy by giving us written instructions.
Cooling off Period
Before you accept this policy you have 14 days to review your policy wording. If you are not totally happy with this policy and you have not made a claim you can write to us requesting that your insurance is cancelled and that any monies paid be returned. We will then cancel your insurance.
Complaints Procedure
If you have any complaint you can contact the Intermediary who arranged the insurance for you. If you wish to register a complaint in connection with the policy, please contact Complete Claims Ltd in writing:
The Compliance Manager, Complete Claims Ltd, 4th Floor Grange House, John Dalton Street, Manchester, M2 6FW; or
By telephone: 0161 817 7700 By Fax: 0161 817 7701
If your problem isn’t resolved you may contact the insurers, IGI Insurance Company Limited, Market Square House, St James’s Street, Nottingham, NG1 6FG. The insurers will contact you within five days of receiving your complaint to inform you of what action they are taking. The insurers will try to resolve the problem and give you an answer within four weeks. If it will take the insurers longer than four weeks the insurers will tell you when you can expect an answer.
If the insurers have not given you an answer in eight weeks they will tell you how you can take your complaint to the Financial Ombudsman Service for review. This complaints procedure does not affect any legal right you have to take action against the insurers. If you are still not satisfied you can contact the:
Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR
The insurers are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if the insurers cannot meet their obligations. This depends upon the type of business and circumstances of the claim. Most insurance contracts are covered for 100% of the first £2,000 and 90% of the remainder of the claim. Further information is available from the Financial Services Authority or the FSCS. The FSCS can be visited on the internet at www.fscs.org.uk or by contacted on 020 7892 7300
The complaints procedure above does not affect any legal right you may have to take action against us.
This policy is provided by: IGI Insurance Company Limited, Market Square House, St James’s Street, Nottingham, NG1 6FG. Registered No. 1229676. Tel 0115 941 1022 Authorised and regulated by the Financial Services Authority
You can check the above details on the Financial Services Authority Register by visiting the FSA website: www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234
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.