Landlord s Choice premier policy document

Transcription

1 Landlord s Choice premier policy document Buildings and contents insurance (Applicable to policies 12 th August 2016)

2 Your Landlord s Choice premier policy Your policy provides cover for the sections and the period of insurance shown in Your policy schedule. The Underwriters This insurance is underwritten by certain underwriters at Lloyd s and other insurance companies as noted below, referred to collectively as the Underwriters who are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The proportion of liability under this contract underwritten by an insurer (or, in the case of a Lloyd s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is shown in this contract. In the case of a Lloyd s syndicate, each member of the syndicate (rather than the syndicate itself) is an insurer. Each member has underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable only for that member s proportion. A member is not jointly liable for any other member s proportion. Nor is any member otherwise responsible for any liability of any other insurer that may underwrite this contract. The business address of each member is Lloyd s, One Lime Street, London EC3M 7HA. The identity of each member of a Lloyd s syndicate and their respective proportion may be obtained by writing to Market Services, Lloyd s, at the above address. Although reference is made at various points in this clause to this contract in the singular, where the circumstances so require this should be read as a reference to contracts in the plural. Property owners legal & rental protection insurance section Markel International Insurance Company Limited authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FCA Register No ) and administered by Abbey Protection Group Limited authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FCA Register No ). All other sections Lloyd s Syndicate 4444 and 958 which are managed by Canopius Managing Agents Limited (FCA Register No: ) authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. BU Landlords Choice Portfolio Policy Wording Page 1 of 44

3 The contract The contract does not give, or intend to give, rights to anyone else. No-one else has the right to enforce any part of this contract. Insurers or their appointed agents may cancel or change any part of the contract without getting anyone else s permission. This document and the policy schedule and property schedule set out what is and what is not covered, together with the sum insured and any special terms that may apply. They all form the contract of insurance between You and Insurers and should be read together. Please check that they meet Your needs and that You understand them. If You have any questions about these documents, please contact the insurance advisor who arranged the policy for You, who will be pleased to help You. Contents Your landlord s choice portfolio policy... 1 Important information... 3 Conditions... 6 Landlords buildings and landlords business contents sections Buildings Landlord s business contents Exclusions Endorsements Property owners legal & rental protection insurance section Part 1 - Property owners legal protection Part 2 - Landlords rental protection BU Landlords Choice Portfolio Policy Wording Page 2 of 44

4 Important information The Policy is administered by Bluefin Insurance Services Limited in accordance with the authority granted under binding authority binding authority UMR B6839P18037AAA. Registered in England No Registered Office: 5 Old Broad Street, London EC2N 1AD. Your cancellation rights If You decide that You do not want to accept the policy or any future renewal of the policy, tell Insurers or their appointed agents (or Your insurance advisor) of Your decision in writing or by phone using the contact details provided on the covering letter within 14 days of receiving the policy (or for renewal, within 14 days of Your policy renewal date). If no claims have been made We will refund the premium You have paid. If a claim is made Insurers will charge You for the days they have been on cover (applying a minimum charge of 15 plus insurance premium tax) and refund the remainder of the premium You have paid. You may cancel the policy at any other time by telling Insurers or their appointed agents, either in writing or on the phone. Insurers or their appointed agents may cancel Your policy by giving You 7 days written notice to Your last known address, and will give You a refund in proportion to the time left until Your current period of insurance is due to run out (as long as You have not made a claim). Making a complaint In the event that you wish to make a complaint you may contact us at the address below: Chief Underwriting Officer, Bluefin Insurance Services Limited, Cutlers Exchange, 123 Houndsditch, London EC3A 7BU. In respect of all sections other than the property owners legal & rental protection insurance section: Should you remain dissatisfied with the response that you receive from us, you may if you wish, refer your complaint to Lloyd s. Lloyd s will investigate the matter and provide a final response. Lloyd s contact details are as follows: Complaints Lloyd s One Lime Street London EC3M 7HA complaints@lloyds.com Telephone: +44 (0) Fax: 44 (0) Website: In respect of property owners legal & rental protection insurance section or if you remain dissatisfied with Lloyd s final response or if you have not received a written final response within eight weeks from the date Bluefin Insurance Services Limited received your complaint: BU Landlords Choice Portfolio Policy Wording Page 3 of 44

5 You may, if eligible, refer your complaint to the Financial Ombudsman Service (FOS). The Financial Ombudsman Service is an independent service in the UK for settling disputes between consumers and businesses providing financial services. The FOS s contact details are as follows: Financial Ombudsman Service Exchange Tower London E14 9SR complaint.info@financial-ombudsman.org.uk Telephone: +44 (0) Website: Financial services compensation scheme (FSCS) Insurers and Bluefin Insurance Services Limited are covered by the Financial services compensation scheme (FSCS).You may be entitled to compensation from the scheme, if Insurers or Bluefin cannot meet their obligations. This depends on the type of business and the circumstances of the claim. For compulsory classes of insurance, the advising and arranging of insurance is covered for 100% of the claim. For other classes of insurance, the advising and arranging of insurance is covered for 100% for the first 2000 of a claim and 90% of the remainder of the claim. There is no upper limit. Further information about the compensation scheme is available from the FSCS Financial Services Compensation Scheme and on their website: Financial Services Compensation Scheme 10th Floor Beaufort House 15 St Botolph Street London EC3A 7QU Telephone: or enquiries@fscs.org.uk Website: Making a claim To make a claim You should first contact the insurance advisor who arranged the policy for You. You may also ring Our claims helpline, which is available 24 hours a day 365 days a year: Telephone: You may also Us at: newclaims.bluefin@davies-group.com When You contact Your insurance advisor or Bluefin about a claim You will need to confirm: Your name and address the place where the loss or damage occurred what caused the loss or damage BU Landlords Choice Portfolio Policy Wording Page 4 of 44

6 what loss or damage has actually occurred if Your claim is a Theft or Malicious Damage loss, You should also inform the Police immediately. Property owners legal protection and rental protection insurance Initial notification of a claim must be made immediately by contacting the Claims Department on or writing to: Abbey Legal Protection Minories House 2-5 Minories London EC3N 1BJ Fax No: For landlords rental protection insurance (where applicable) claims must be notified within 60 days of the Tenant first defaulting on the terms of the Tenancy agreement. Failure to notify the claim within this time will invalidate the insurance cover. All notices and communications from the insurer or their Appointed Representatives to the Insured shall be deemed to have been duly sent if sent to the Insured s address as last declared to Abbey or, in relation to any matters arising out of any claim or legal proceedings, if sent to the Appointed Representative. All notices and communications from the Insured or the Appointed Representative to the Insurer shall be deemed to have been duly noted if sent to Abbey at the above address. BU Landlords Choice Portfolio Policy Wording Page 5 of 44

7 Conditions These conditions apply to all Sections of this Policy. Where additional conditions apply to a specific section of this policy these additional conditions take precedence and are stated under the relevant section. 1. Cancellation a) We may cancel this Policy at any time and in any Period of Insurance by giving a minimum of thirty (30) days notice to You at the last address You provided Us with. b) If We cancel this Policy then You will be entitled to a proportionate refund of premium, based on the number of days remaining in the Period of Insurance, unless a claim has been made (or an incident notified to the Company that could give rise to a claim) during the Period of Insurance when no refund of premium will be made. 2. Change of risk and interest 1. You must advise Us as soon as You become aware of: a) any structural work to the Private Residence; b) any other work (other than minor repairs or alterations or general maintenance work) to be or being carried out in or on the Private Residence or the site on which the Private Residence stands; c) any change in the occupation of the Private Residence which increases the risk of Damage as insured by the Policy. The insurance will not be prejudiced by any act or omission unknown to You or beyond Your control on the part of a tenant occupying or using the Private Residence whether constituting an increase in risk or not, provided that as soon as practicable after You become aware of the work or change, You give notice in writing to Us and pay any additional premium We may require. 2. This Policy will cease to be in force if: a) Your interest in the business ceases other than by death; and/or b) the business is to be wound up or carried on by a liquidator or receiver or permanently discontinued at any time after the effective date (as shown in The Schedule) unless its continuance be admitted by memorandum signed by or on behalf of Us. Nothing contained in this Policy will give any person, persons, Limited or Public Limited Company or Limited Liability Partnership other than You any right against Us except for a person, persons, Limited or Public Limited Company or Limited Liability Partnership to whom the policy has been transferred and who has been approved by Us. 3. Condition Precedent to Liability A condition of this Policy where non-compliance (provided that such non-compliance is material to the loss) shall mean the claim will not be paid and any payment on account of the claim already made by Us shall be repaid to Us. BU Landlords Choice Portfolio Policy Wording Page 6 of 44

8 4. Cooking arrangements No cooking is to be undertaken inside any part of the building other than in areas that have been constructed and equipped as domestic kitchens. 5. Flat roof maintenance Flat felt roofs must be inspected every five years by a qualified builder or surveyor and any defects repaired immediately. 6. Governing Law Unless specifically agreed to the contrary this contract of insurance shall be governed by the laws of England and subject to the exclusive jurisdiction of the courts of England and Wales. Unless otherwise agreed, We will communicate with You in English. 7. Index Linking We will increase Your buildings sum insured each month in line with the House Rebuilding Cost Index produced by the Royal Institution of Chartered Surveyors. We will increase Your landord s business contents sum insured each month in line with the Durable Household Goods Section of the Retail Price Index. 8. Loss of damage You must tell Us about any loss, damage or liability as soon as reasonably practicable and give Us all the information and help We may need. We will decide how to settle or defend a claim and may carry out proceedings in the name of any person covered by Your policy including proceedings for recovering any claim. 9. Mortgagees and lessors Any increase in the risk of damage due to any act or neglect of any Mortgagor, Leasholder, Lessee or Occupier of any buildings will not prejudice the interest of any Mortgagee, Freeholder or Lessee provided the increase in risk is without their prior knowledge or authority and We are notified immediately the become aware of the increase in risk and pay any additional premium. 10. Other insurance If any claim is covered by any other insurance, We will not pay for more than Our share of that claim. 11. Precautions You must do all You can to prevent and reduce any loss, damage or injury and comply with statutory obligations and regulations imposed by any authority. 12. Regulations and conditions for rented accommodation You must meet all local and national authority regulations governing rented accommodation. If You do not meet these regulations, and a claim happens, We may decide not to pay the claim. These include (but are not limited to): BU Landlords Choice Portfolio Policy Wording Page 7 of 44

9 a) not having more than the number of people legally allowed to live in the Private Residence; b) keeping to the Furniture and Furnishings (Fire Safety) Regulations 1988 (or as amended); c) having the minimum legal number of smoke detectors, fire extinguishers and fire blankets in the Private Residence; d) making sure that all gas appliances in the Private Residence are serviced by a Gas Safe registered engineer within 15 days of the start of this insurance or not more than a year from the date each one was last serviced, (You must be able to give Us original dated receipts for the servicing of each appliance for a period of 24 months); and e) having a valid certificate issued by an NICEIC member and which is less than five years old, confirming that the electrical system in the Private Residence is in a good state of repair. You or an authorised person must inspect the inside and outside of the Private Residence at least once every six months. 13. Repair, renovation or redecoration Whilst the building is being repaired, renovated or redecorated the Excess shown in Your policy schedule, property schedule or policy endorsement is increased by Rights of parties A person or company who was not a party to the policy has no right under the Contracts (Rights to Third Parties) Act 1999 or any subsequent legislation to enforce any term of this policy but this does not affect any right or remedy of a third party which exists or is available apart from such act. 15. Sanctions We shall not provide any benefit under this contract of insurance to the extent of providing cover, payment of any claim or the provision of any benefit where doing so would breach any sanctions, prohibition or restriction imposed by law or regulation. 16. Theft or malicious damage You must report any loss by theft, attempted theft or malicious damage to the police as soon as reasonably practicable. 17. Unoccupancy When the Private Residence is Unoccupied (i.e. not permanently live in by You, a tenant, or a person You have authorised or without enough furniture for normal living purposes) for longer than 7 consecutive days: a) the policy Excesses shown in Your policy schedule, property schedule or policy endorsement are increased by a further 250 for buildings and 500 for landlord s business contents; b) the Private Residence must be inspected not less than once every 14 days by You or a responsible person acting on Your behalf and any faults discovered remedied immediately; c) all locks and bolts for securing external doors, windows and fanlights which are accessible without the use of a ladder or from drainpipes must be put into full and effective operation and the keys withdrawn from the locks and bolts whenever the Private Residence is left unattended; d) all refuse and waste materials must be removed from the interior of the premises and no accumulation of refuse or waste be allowed in the adjoining yards or spaces owned by You; BU Landlords Choice Portfolio Policy Wording Page 8 of 44

10 e) You must take reasonable steps to prevent accumulation of mail; f) during the period between 1 st October and the 31 st March in any year the central heating system (where installed) must be kept working to maintain a temperature of no less than 10 degrees centigrade or the water must be turned off at the mains and the water system completely drained. When the Private Residence is Unoccupied for longer than 60 consecutive days, the 7 day Unoccupancy conditions above still apply and: a) You must inform us; b) You must seal up all letter plate apertures or, if impracticable fit the rear of the aperture with an enclosed metal box and frequently remove any materials delivered. Unless We agree otherwise cover is restricted to; Buildings events and additional cover: 1 fire, lightning, explosion or earthquake; 4 aircraft, animals or vehicles hitting the buildings; 7 subsidence or ground heave of the site that the buildings stand on or landslip; 9 falling tree or branches, lamp posts or telegraph poles; 21 Your liability to others; 22 Your liability to domestic employees; 23 selling the buildings; 24 automatic cover for new properties; 28 contract works. Landlords business contents events and additional cover: 1 fire, lightning, explosion or earthquake; 4 aircraft, animals or vehicles hitting the buildings; 7 subsidence or ground heave of the site that the buildings stand or on landslip; 9 falling trees or branches, lampposts or telegraph poles; 19 Your liability to others (but only if this cover has been selected and is shown on the policy schedule or property schedule). Claims Conditions 1. Deliberate or reckless non-disclosure, misrepresentation or false description If You deliberately or recklessly breach Your duty to provide a fair presentation or as a consumer You deliberately or recklessly make a misrepresentation, We shall be entitled to cancel this policy from the inception date, refuse all claims and not return any of the premiums paid. 2. Fair presentation of risk Prior to the inception date or renewal of this policy, You must make to Us, a fair presentation of the risk. You must: 1. disclose to Us every material circumstance which You know or which You ought to know (being any material circumstance which should have been revealed by a reasonable search of information available to You); or 2. failing that, disclose to Us sufficient information to put Us on notice that We need to make further enquiries for the purpose of revealing those material circumstances; and BU Landlords Choice Portfolio Policy Wording Page 9 of 44

11 3. make such disclosure in a manner which is reasonably clear and accessible to Us; and 4. ensure that, in such disclosure, every material representation as to: a) a matter of fact is substantially correct; and b) a matter of expectation or belief is made in good faith. A circumstance or representation is material if it would influence the judgement of a prudent insurer in determining whether to take the risk and, if so, on what terms. Unless We have specifically asked You in relation to it, You do not need to disclose any matter or circumstance: 1. which an insurer, offering the class or classes of insurance business to insured in Your trade sector, in respect of which You are insured under this policy, would be reasonably expected to know in the ordinary course of business; 2. which diminishes the risk; of 3. in respect of which We have waived a requirement to be provided information. 3. Innocent non-disclosure and/or misrepresentation proportional remedy If, prior to inception or renewal of this policy, or prior to any agreed variation to this policy during the policy term (a Variation ), You have failed to disclose, or have misrepresented a material fact to Us that would entitle Us to avoid this policy or any Variation, this clause shall apply, unless the non-disclosure or misrepresentation by You is proven by Us to be fraudulent or deliberate or reckless or of such other nature that, if the material fact had been disclosed or had not been misrepresented, We would not have underwritten this policy or agreed to the Variation. For the purposes of this clause, a non-disclosure or misrepresentation is deliberate or reckless if: 1. in the case of a misrepresentation, You knew it was untrue or misleading, or did not care whether or not it was untrue or misleading 2. in the case of a non-disclosure, You knew that the matter to which the non-disclosure related was material to Us, or did not care whether or not it was material to Us. The burden shall be on Us to prove all matters set out in this clause. In the event that this clause applies, We will not be entitled to avoid this policy or any Variation for such non-disclosure or misrepresentation (other than where the non-disclosure or misrepresentation is fraudulent, deliberate, reckless or of such other nature that, if the material fact had been disclosed or had not been misrepresented, We would not have underwritten this policy or agreed to the Variation) and instead We will indemnify You subject to the following: 1. if We would have charged a higher premium had the material fact been disclosed or not been misrepresented, We may reduce proportionately the amount to be paid on any claim. For the purposes of this clause reduce proportionately means that We need to pay on X% of the amount that We would otherwise have been under an obligation to pay under the terms of this (or, if applicable, under the different terms provided for by virtue of sub-clause 2. below), where: X = Premium actually charged / Higher premium x 100 BU Landlords Choice Portfolio Policy Wording Page 10 of 44

12 2. if We would have underwritten this policy or agreed to the Variation on different terms (other than in relation to the premium charged), We shall be entitled to impose all such terms by giving You written notice of all such additional terms. Any additional term notified will take effect as if imposed from the inception of this policy or the date of the Variation. The above provisions do not affect any of the other terms and conditions of, or Our other contractual rights under this policy (including as varied by a Variation). For the purpose of this condition the acts, omissions or knowledge of one Insured shall not be imputed to any other Insured. 4. Terms not relevant to the actual loss Where there has been non-compliance with any term (express or implied) of this policy, other than a term that defines the risk as a whole, and compliance with such term would tend to reduce the risk of: a) loss of a particular kind, and/or b) loss at a particular location, and/or c) loss at a particular time, then We agreed that We may not rely on the non-compliance to exclude, limit or discharge Our liability under this policy if You show that non-compliance with the term could not have increased the risk of the loss which actually occurred in the circumstances in which it occurred. Landlords buildings and landlords business contents sections Definitions Certain words have specific meanings when they appear in this policy. These meanings are shown below or in the section where they apply. They are printed in bold type. Domestic employee - domestic staff, cleaner, gardener, caretaker, or any occasional employee undertaking repairs or decorations in connection with the buildings covered by this policy, employed by You. Excess the first amount of any claim for which You are responsible. Garden (s) the flowerbeds, lawns, plants, shrubs or trees, ornaments or statues in the Garden within the boundaries of the buildings. Private residence let domestic property consisting of individual: houses; bungalows; maisonettes; flats; BU Landlords Choice Portfolio Policy Wording Page 11 of 44

13 purpose built flats, or apartment blocks. Unoccupied/Occupancy if the home is either: not permanently lived in by You, a tenant, or a person You have authorised; or without enough furniture for normal living purposes. Vehicles and craft any electrically-or mechanically-powered vehicles, caravans, trailers, watercraft including surfboards, hovercraft, aircraft, all terrain vehicles or quad bikes (but not domestic gardening equipment, battery-operated golf trolleys or wheelchairs, battery-or pedestrian-operated models or toys). Insurers/ We/ Us/ Our The Underwriters as set out in the section of the policy headed the Underwriters. You/Your/Insured - the person, persons, Limited or Public Limited Company or Limited Liability Partnership named in the Schedule. Classification of tenancy types Your policy schedule or property schedule will show the tenancy type You have selected for the property insured. You must tell Us if any of the information, (including the tenancy type) on which this insurance is based changes see policy condition 7. P - Professional and working or retired families Individual, self contained accommodation, let for a minimum of 6 months, tenanted by: a family unit; a single person; two people sharing. Who are gainfully employed or retired. Provided that the tenancy agreement is between the Tenant and the Landlord or their appointed Letting Agent. Excludes: holiday lettings; asylum seekers or refugees. S - Students Individual, self contained accommodation, let for a minimum of 6 months, tenanted by: students. Provided that the tenancy agreement is between the Tenant and the Landlord or their appointed Letting Agent. Excludes: holiday lettings; asylum seekers or refugees. G - Government benefits Individual, self contained accommodation, let for a minimum of 6 months, tenanted by: BU Landlords Choice Portfolio Policy Wording Page 12 of 44

14 persons in receipt of Government benefits or not gainfully employed. Provided that the tenancy agreement is between the Tenant and the Landlord or their appointed Letting Agent. Excludes: holiday lettings; asylum seekers or refugees. W - Standard risk Individual or shared accommodation, tenanted by: working persons; retired persons; students; persons in receipt of Government benefits. Provided that the tenancy agreement is between the Tenant and the Landlord or their appointed Letting Agent. Excludes: holiday lettings; asylum seekers or refugees. D - DSS referrals Individual or shared accommodation tenanted by: working persons; retired persons; students; persons in receipt of Government benefits. Where the contract to house is other than between the Landlord and the Tenant. Excludes: holiday lettings; asylum seekers or refugees. B - Bed-sits Accommodation with individual cooking arrangements i.e. cooking in rooms, tenanted by: working persons; retired persons; students; persons in receipt of Government benefits. Where the tenancy agreement is between the Tenant and the Landlord or their appointed Letting Agent or where the contract to house is other than between the Landlord and the Tenant. Excludes: holiday lettings; asylum seekers or refugees. A - DSS referrals including asylum seekers or refugees BU Landlords Choice Portfolio Policy Wording Page 13 of 44

15 Individual or shared accommodation, tenanted by: working persons; retired persons; students; persons in receipt of Government benefits. Where the contract to house is other than between the Landlord and the Tenant. Excludes: holiday lettings. H - Holiday lets Individual or shared accommodation, tenanted by: working persons; retired persons; students; persons in receipt of Government benefits. Provided that the tenancy agreement is between the Tenant and the Landlord or their appointed Letting Agent. Excludes: asylum seekers or refugees. Buildings Buildings are: the main structure or the risk address shown in Your policy schedule or property schedule, including its permanent fixtures and fittings if they are Your property; domestic outbuildings, private garages, including garages on nearby sites that form part of the risk address shown on the policy schedule or property schedule; ornamental ponds or fountains, swimming pools and tennis courts; central-heating fuel tanks, cesspits and septic tanks; fences, gates, hedges, lamp posts, railings and walls; drives, paths, patios and terraces; communication aerials and closed circuit surveillance equipment including piping, ducting, cables, wires and associated control gear and accessories on the premises and extending to the public mains, but only to the extent of Your responsibility, but not satellite television-receiving equipment or television and radio aerials. Covered events We cover sudden and unexpected loss of or physical damage to the buildings caused by events 1 to 13 (and 14 if accidental damage is shown as included in Your policy schedule or property schedule). Event Exclusions 1. Fire, lightning, explosion or earthquake. The Excess as shown in the policy schedule or BU Landlords Choice Portfolio Policy Wording Page 14 of 44

16 2. Riot. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). 3. Malicious damage. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). 4. Aircraft, animals or vehicles hitting the buildings. The first 2,500 of loss or damage if caused by the tenant or other person(s) lawfully on the premises. The Excess as shown in the policy schedule or 5. Storm or flood. The Excess as shown in the policy schedule or Loss or damage to fences, gates, hedges or railings. Loss or damage caused only by a change in the water table. 6. Theft or attempted theft. The Excess as shown in the policy schedule or Loss if caused by deception. Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy) 7. Subsidence or ground heave of the site that the buildings stand on or landslip. The first 2,500 of loss or damage if caused by the tenant or other person(s) lawfully on the premises. The Excess as shown in the policy schedule or Loss or damage from the coast or a river bank being worn away. Loss or damage when the main structure of the private residence, private garages or domestic outbuildings is not damaged at the same time and by the same cause. Loss or damage to solid floor slabs, unless the BU Landlords Choice Portfolio Policy Wording Page 15 of 44

17 foundations of the load-bearing walls are damaged at the same time by the same cause. 8. Water leaking from any fixed appliance or damage caused to these items by freezing or violent bursting. 9. Falling trees or branches, lamp posts or telegraph poles. Loss or damage from settlement, shrinkage or expansion, demolition, faulty workmanship or faulty design. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The Excess as shown in the policy schedule or Damage to or fences, gates, hedges or railings. Damage caused by felling, lopping or topping. 10. Oil leaking from any fixed appliances, pipe or tank. 11. Accidental breakage of fixed glass, fixed sanitary ware or ceramic hobs in fixed kitchen furniture. 12. Breakage or collapse of satellite television receiving equipment or television and radio aerials. 13. Accidental Damage to cables and underground pipes serving the buildings for which You are responsible. The cost of removal if the fallen tree has not damaged the buildings. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied or more than 60 consecutive days (see condition 10 Unoccupancy). Loss or damage to tiles. The Excess as shown in the policy schedule or The Excess as shown in the policy schedule or Landlord s Buildings accidental damage optional extension Cover under events 14 is an optional extension and only applies if accidental damage cover is shown as included in Your policy schedule or 14. Accidental damage to the buildings. The Excess as shown in the policy schedule or Any loss or damage We BU Landlords Choice Portfolio Policy Wording Page 16 of 44

18 exclude under events 1 to 13. Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The costs of maintenance or normal redecoration. Loss or damage due to settlement, shrinkage or expansion. BU Landlords Choice Portfolio Policy Wording Page 17 of 44

19 Extensions The insurance provided by this Section is extended to include the following: 15. Loss of rent or alternative accommodation. If the buildings are not fit to live in following loss or Damage covered by this section We will pay: OR the reasonable cost of similar alternative accommodation up to 2 years ground rent which You have to pay rent which would have been paid to You by an existing tenant or tenants. This will apply during the time needed to restore the Buildings to a condition which is fit to live in. The most We will pay is 20% of the buildings sum insured. Alternative accommodation costs, ground rent or rent payable to You relating to any portion of the buildings not used solely as domestic accommodation. Loss of rent: if the Private residence was Unoccupied immediately before the insured event arising from Your tenant or tenants leaving the Private residence without giving notice to You or Your letting agent after the Private residence can be lived in again. Rent which is unpaid at the time of the loss or damage. 16. Loss of rent following murder, suicide or notifiable disease. We will pay up to 3 months rent which would have been paid to You if the buildings are closed by a Public Authority following a murder, suicide or outbreak of a notifiable human contagious disease. 17. Re-Letting costs. In addition to the total amount We pay for any claim which We have accepted as valid under event 15 for loss of rent. We will also pay: costs necessarily and reasonably incurred in re- letting the buildings solely due to damage. 18. Replacement locks. We will pay the reasonable cost of replacing the locks of external doors to the buildings following the theft of their keys. Costs, fees or charges You have to pay to Your letting agents. The most We will pay is 5% of the buildings sum insured. Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The first 50 of each claim. Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The most We will pay is 500 in any one period of insurance. The Excess as shown in the policy schedule or The most We will pay is 250 in any one period of insurance. We will not pay for locks to garages, outbuildings, BU Landlords Choice Portfolio Policy Wording Page 18 of 44

20 shops, offices or stores. 19. Oil and metered water. We will pay for loss of oil or metered water following damage to the buildings covered by this section. 20. Landscaped Gardens. We will pay for loss or damage caused to Gardens caused by the emergency services while attending the buildings to deal with any loss or damage covered by this policy. 21. Your liability to others. We cover Your legal liability: as owner of the buildings and their land and as owner of the Landlord s business contents resulting from You previously owning any private property under the Defective Premises Act 1972 the Defective Premises (Northern Ireland) Order 1975; to compensate others if, following an accident during the period of insurance, someone dies, is injured, falls ill or has their property damaged. 22. Your liability for accidents to domestic employees. We will cover You for any legal liability You have as owner of the property to compensate Your domestic employees if, following an accident during the period of insurance, and in the course of their employment by You, any of Your domestic employees dies, is injured or falls ill. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The most We will pay is 5,000 for oil and 1,000 for metered water in any one period of insurance. The Excess as shown in the policy schedule or The most We will pay is 5,000 in any one period of insurance. The most We will pay for any claim (or claims) arising from one cause, including costs and legal expenses agreed by us, is 2,000,000 or the amount as shown in the policy schedule or We will not pay if the liability arises from: the death, injury or illness of You or Your domestic employees; loss or damage to any property that You or Your domestic employees own or are responsible for; a contract that says You or Your domestic employees are liable for something which You or they would not otherwise have been liable for; Your business or profession other than as owner of the property shown in the policy schedule or property schedule; owning or using vehicles or crafts any animal; You or Your domestic employees passing on any illness or virus; occupation or ownership of any land or building not shown in Your policy schedule or The most We will pay for any claim (or claims) arising from one cause, including legal costs and expenses agreed by Us, is 10,000,000 for an accident to Your domestic employees. We will not pay if the liability arises from: injury to any Domestic employee when the Domestic employee is: BU Landlords Choice Portfolio Policy Wording Page 19 of 44

21 23. Selling the buildings. If at the time of the claim You have contracted to sell the buildings, the buyer will have the benefit of this policy as long as the purchase is completed within the period of insurance. 24. Automatic cover for new property. Cover for buildings extends to include newly acquired buildings, that You have purchased but have not told Us about provided: they are of standard construction (i.e. Constructed of brick, stone or concrete and roofed with slates, tiles or concrete, asphalt, metal or asbestos with less than 20% of the total area of flat felt and bitumen roofing); You tell Us about them as soon as You can but not later than seven days after You have purchased them; You effect specific insurance from the time You purchase them. 25. Water damage tracing costs. In addition to the total amount We pay for any claim which We have accepted as valid under this section We will also pay: costs and expenses You incur with Our consent to locate the source of the carried in or on any motor vehicle; entering or getting into or alighting from a motor vehicle in circumstance where Road Traffic legislation requires insurance or security. This will not apply to injury to any Domestic employee who at the time the injury occurs is the driver of a motor vehicle or is the person in charge of the motor vehicle for the purposes of driving providing there is no other insurance covering the injury; tree felling or lopping; window cleaning, painting or similar operations carried out from cradles and/or hoists; the provision of, erection of, dismantling or work from scaffolding; demolition, erection or structural alteration of or addition to new or existing buildings; working at heights greater than three metres or depths greater than one metre; Your pursuit or exercise of any trade, calling or Profession other than the business of landlord. We will not pay for any claim for loss or damage to Your buildings if the buyer is insured under any other insurance. The Excess as shown in the policy schedule or The most We will pay is 300,000 per incident. We will not pay for buildings that You have owned for more than seven days or which are otherwise insured. The Excess as shown in the policy schedule or The most We will pay is 10,000 in any one period of insurance. BU Landlords Choice Portfolio Policy Wording Page 20 of 44

22 damage to the buildings due to any water leaking from any fixed appliance, pipe or tank. subsequent repairs to walls, floors or ceilings. 26. Prevention of access. Loss of rent or the reasonable additional cost of comparable alternative accommodation due to Damage by an insured event to property: in the vicinity of the buildings which prevents or hinders their use or access to them whether the buildings are damaged or not; at the premises of Your Managing Agents in the Territorial limits. 27. Public utilities. Loss of rent or the reasonable additional cost of comparable alternative accommodation due to access to or use of buildings being hindered or prevented due to damage by an insured event to property at any: generating station or sub-station of a public electricity supply undertaking; land-based premises of the public gas supply undertaking or any national gas producer linked directly to them; waterworks and pumping stations of a public based water supply undertaking land-based premises of any public telecommunications undertaking from which the buildings obtain electricity, gas, water or telecommunications services. 28. Contract Works. We will pay for damage resulting from any buildings works and/or heat processes (including restoration, repair, redecoration, maintenance or other similar work) where: the estimated value of the works is no more than 15,000; and You have not entered into a contract which removes or limits Your legal rights against the contractor in any way. Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). We will not pay: any amount in Excess of 20% of the sum insured on buildings to which use or access is prevented or hindered; for damage to the property of any supply undertaking which prevents or hinders the supply of electricity, gas, water or telecommunications to the buildings; Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10, Unoccupancy). We will not pay: any amount in Excess of 20% of the sum insured on buildings to which the public utilities supply is affected; Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The Excess as shown in the Policy Schedule or Property Schedule. The most We will pay is 15,000 per incident. Unfixed materials on site. Settling claims We will decide whether to repair, replace or reinstate the damaged part of the buildings. We may do this by using one of Our suppliers. We will pay the full cost of the work, including any professional, demolition, or local-authority costs or fees We have agreed, as long as the work is finished without delay. If the work is not carried out, We will pay the reduction in the market value of the buildings that resulted from the damage. However We will not pay more than the cost of the repair or replacement. BU Landlords Choice Portfolio Policy Wording Page 21 of 44

23 We will take off an amount for wear and tear if the buildings are not properly maintained. If at the time of any loss or damage the buildings sum insured is less than the actual rebuilding cost We will only pay the amount that the sum insured bears to the total rebuilding cost. The sum insured for buildings will not be reduced following payment of a claim. When We pay Your claim We will take off the Excess shown in Your policy schedule, property schedule or policy endorsement. The most We will pay is the limits shown in the policy or the sum insured shown on Your policy schedule, property schedule or policy endorsement. BU Landlords Choice Portfolio Policy Wording Page 22 of 44

24 Landlord s business contents Landlord s business contents are: household goods; furniture; carpets; furnishings. That: You own or for which You are legally responsible are contained in the private residence are provided by You for the use of Your tenant or for use in connection with the maintenance of the private residence. Contents are not: vehicles and craft and their accessories; deeds and documents; documents and certificates showing ownership of shares, bonds and other financial investments; animals; any part of the structure, decorations or permanent fixtures and fittings; items You have more specifically insured by this or any other policy; tenant s property; cash, cheques, postal or money orders, postage stamps, saving stamps, saving certificates or bonds, ravel tickets, luncheon vouchers, phone cards, mobile phone vouchers, reward vouchers or gift tokens; property in the open; any articles of gold, silver or other precious metal, jewellery, watches, furs, pictures or other works of art, collections of stamps or coins; clothing and articles of a strictly personal nature likely to be worn used or carried, sports equipment and pedal cycles; mobile phones Covered events We cover sudden and unexpected loss or physical damage caused by events 1 to 15 (and 16, 17 and 18 if landlord s business contents including accidental damage is shown as included in Your policy schedule or property schedule) to the landlord s business contents in the private residence. Event Exclusions 1. Fire, lightning, explosion or earthquake. The Excess as shown in the policy schedule or 2. Riot. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). 3. Malicious damage. The Excess as shown in the policy schedule or BU Landlords Choice Portfolio Policy Wording Page 23 of 44

25 Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The first 2,500 of loss or damage if caused by the tenant or other person(s) lawfully on the premises. Loss or damage when the Private residence is lent, let or sublet unless violence and force are used to break into or out of the private residence. 4. Aircraft, animals or vehicles hitting the The Excess as shown in the policy schedule or buildings. 5. Storm or flood. The Excess as shown in the policy schedule or Loss or damage to landlord s business contents in the open. Loss or damage caused only by a change in the water table. 6. Theft or attempted theft. The Excess as shown in the policy schedule or Loss if caused by deception. Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The first 2,500 of loss or damage if caused by the tenant or other person(s) lawfully on the premises. Loss or damage to the property in outbuildings or garages. 7. Subsidence or ground heave of the site that the buildings stand on or landslip. 8. Water leaking from any fixed appliance, pipe, tank or fish tank. Loss or damage to landlord s business contents in the open. The Excess as shown in the policy schedule. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). Loss or damage to the system or apparatus from BU Landlords Choice Portfolio Policy Wording Page 24 of 44

26 9. Falling trees or branches, lampposts or telegraph poles. 10. Oil leaking from any fixed appliance, pipe or tank. which the water has escaped. The Excess as shown in the policy schedule or Damage caused by felling, lopping, or topping. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). Loss of the oil itself. 11. Accidental breakage of glass in furniture, mirrors or ceramic hobs in unfixed kitchen appliances. 12. Breakage or collapse of satellite television receiving equipment, or television and radio aerials. 13. Damage to domestic appliances caused by freezing. 14. Accidental sudden loss of or damage to heating oil contained in the heating installation, its tank, pipe work or fittings on the site on which the buildings stand. Loss or damage to the system or apparatus from which the oil escaped. The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). Light fittings. The Excess as shown in the policy schedule or The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). The Excess as shown in the policy schedule or Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). Loss due to any alleged shortfall in delivery or supply. 15. If You are the tenant of the private residence, We will pay for loss or damage caused by events 1 to 6 subject to the exclusions applying to each event to Fixtures and fittings, greenhouses and The most We will pay is 5,000. We will not pay for: Loss or damage when the Private residence is Unoccupied for more than 60 consecutive days (see condition 10 Unoccupancy). BU Landlords Choice Portfolio Policy Wording Page 25 of 44