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Summary of CoverBusinesshome is committed to protecting the privacy and confidentiality of information provided by its customers and upholding data protection principles in the governance of its home business liability insurance policies and providing competitive homeworker insurance quotes. Any personal data saved is held safely on our secure servers, with security systems preventing unauthorised access. |
Insurer
Axiom Underwriting Agency Limited on behalf of Great Lakes Reinsurance (UK) PLC.
Level of Cover
There are 2 different levels of cover. If you have selected Standard Cover we will insure you against loss or damage by causes 1-11 and 13-19 under Section 1 Buildings and by causes 1-13 and 15-25 under Section 2 Contents as listed in the policy booklet. If you have selected Accidental Damage cover this covers you for all of the causes listed. This wider cover is available for an additional charge.
You can select to insure Contents only or Buildings and Contents combined. If you select Contents insurance, you will automatically be covered for Food in Deep Freezers, Personal Money and Credit Cards, Business Money and Assault, Liability (including compulsory employers liability insurance) and Personal (non commercial) Legal Expenses. You will have the option to purchase cover for Personal Possessions and Business Interruption.
Term of Policy
The insurance provided will be for one year after which cover may be renewed. Your policy schedule will show the period of insurance.
Cancellation
You have the right to cancel this insurance at any time. You will, for a period of 14 days from the later of the day you purchase this insurance or the day on which you receive the policy document, have a right to cancel this policy and receive a refund.
This refund will be subject to a charge for the period of cover you have received, plus reasonable administration charges, except where cover has not commenced prior to the end of this 14 day period, in which case you will be entitled to a full refund of the premium you have paid.
To exercise this right to cancel please contact your agent or broker. Beyond the 14 day period you will still be entitled to cancel this policy; however no refund will be allowable if a claim has been made in the current period of insurance. For full details of the cancellation process, please refer to the General Conditions in the policy booklet.
In the Event of a Claim
Please call the 24 hour telephone helpline on 0844
856 2121.
This is a Policy Summary only. It does not contain the full terms and conditions of the contract. For full details of all the policy terms, conditions & exclusions please refer to the policy booklet (a copy of which is available on request). The relevant sections of the policy booklet are listed below.
| Level of Cover | Benefits | Unusual Exclusions and Limitations |
|---|---|---|
Section 1 Buildings Standard Cover (includes the structure of your home, garages and outbuildings at the address shown in the schedule) |
You are covered on a new-for-old basis against causes 1-11 and 13-19. The sum insured is index linked. The causes are detailed in the policy booklet. Cover under this section automatically includes accidental breakage of fixed glass and sanitary ware, accidental damage to underground services, alternative accommodation, loss of rent, trace and access cover and damage caused by emergency services. |
You must notify us if more
than 20% of the roof area of the building (disregarding garages)
is a flat roof and/or is covered in asphalt felt on timber
or similar permanent deck.
|
| Section 1 Buildings Accidental Damage Cover | In addition to the range of causes covered by Standard Cover, full accidental damage cover applies (cause 12). | Hot tubs and Jacuzzis are not covered for accidental damage (cause 12). |
| Section 2 Contents Standard
Cover
(includes household goods, personal possessions, valuables, collections, personal money and business contents) |
Cover is provided on a new-for-old
basis in respect of loss of or damage to your contents whilst in your
home against causes 1-13 and 15-25. The sum insured is index linked.
The causes are detailed in the policy booklet.
Cover under this section automatically includes loss of personal money; fraudulent use of credit cards; deterioration of frozen food in deep freezer units; accidental damage to TVs, videos and DVD players; audio and computer equipment; accidental breakage of mirrors and fixed glass in furniture; loss of domestic fuel and metered water; replacement of locks following loss or theft of keys; contents temporarily removed from your home; tenant's liability; costs of writing up business books and costs incurred in reinstating computer system records. |
A deduction will be made for
wear, tear and depreciation on claims for clothing, linen and pedal
cycles.
For temporary removals only Standard insured causes are covered and theft cover is restricted to forcible and violent entry to or exit from a building. The value of any one valuable item must not exceed £1,000 and valuables in total must not exceed 33% of the contents sum insured unless you notify us and it is endorsed on your schedule. Other limits apply to the covers provided. For example there are financial limitations on the cover provided for money, collections and contents of outbuildings. See section 2 of the policy booklet for full details. |
| Section 2 Contents Accidental Damage Cover | In addition to the range of causes covered by Standard Cover full accidental damage cover applies (cause 14). | |
| Section 3 Personal Possessions
(e.g. items of clothing, luggage, sports equipment, pedal cycles, jewellery, watches and portable business equipment that you take out of the home) |
This section provides cover against loss or damage away from and within your home up to the sums insured detailed in the schedule. This section applies on a worldwide basis but cover outside of the UK is limited to 60 days in any one period of insurance. | Unless you have notified us
and it is specified on your schedule there is a maximum amount payable
of £500
for any one pedal cycle and £1,000 for any other item, pair or set.
Pedal cycles when left unattended away from the home must be securely locked to an immovable object and not left unattended outside a building for longer than twelve consecutive hours. Theft from an unattended vehicle is not covered unless the property stolen was in a locked boot or glove compartment. Laptops and other portable business equipment, mobile phones, satellite navigation systems, camping equipment are excluded unless you have notified us and it is specified on your schedule. A deduction will be made for wear, tear and depreciation on claims for clothing and pedal cycles. |
| Section 4 Business Money and Assault | This section provides cover in respect of loss of business money from your home and elsewhere in the UK, Isle of Man or Channel Islands. Limits apply to the cover dependant on the location and time of day at which the loss occurs. | Automatically provided when
Section 2 is operative.
Losses from unattended vehicles are excluded. Errors or omissions are not covered. Fraud or dishonesty of employees is not covered unless discovered within 14 days of its occurrence. |
| Section 5 Business Interruption | You can insure against any
loss or damage covered by Section 2 bringing your business to a halt.
Cover can be provided for:
A. Reduction in gross revenue, including increased cost of working, or B. Increased cost or working only, and/or C. Unrecoverable book debts. |
A claim for reduction in gross
revenue shall be calculated against the gross revenue earned during
the 12 months immediately before the Insured Event.
The indemnity period will be 12 months unless otherwise agreed. Other limits apply. See Section 5 of the policy for full details. |
| Section 6 Legal Liabilities | Your personal and commercial legal
liabilities are covered against damages and costs awarded
in a court of law within the UK, Isle of Man or Channel
Islands following accidental bodily injury (including death, disease
or illness) or accidental loss or damage to material property which
you become legally liable to pay:
As owner of the building (Section 1 must be in force) As occupier of the building In a personal capacity (but not as owner of any land of building). In the course of carrying on the business. Cover is provided up to the policy limits (see policy booklet for details). |
Automatically provided when
Section 2 is operative.
There is no cover for what is usually termed 'professional' liability or for goods or services sold or supplied. There is no cover for manual work carried out away from the premises. |
| Section 7 Family Legal Expenses | This section provides cover up to a limit of £50,000 for legal representation under the following catagories: Employment Disputes, Contract Disputes, Bodily Injury, Property Protection and Legal Defence (as an employee). This section is underwritten by DAS Legal Expenses Limited. | Automatically included when
Section 2 is operative.
See the exclusions/limitations below. |
| Cover limitations for theft and wilful damage cover
(General Exclusions) |
The policy will not pay for loss or damage resulting from theft or wilful act involving you, a member of your family or your tenant or member of their family. |
Maintaining and minimising losses
|
You must maintain the buildings (and other services at your address) in a good state of repair. If you do not do this we will make a deduction for wear and tear on any claim that you make. You must also take all reasonable steps to avoid, prevent or minimise any loss, damage, injury or accident which could result in a claim under your policy. |
Adequacy of sums insured
|
We will make a deduction for depreciation
or wear and tear if you fail to ensure that the sums insured
under your policy are adequate to cover the full cost of re-building
under Section 1 - Buildings or the replacement value as new of all
the property insured under Section 2 - Contents.
In the event of a sum insured being grossly understated under either section we may make a proportional adjustment to any claim settlement under that section. |
Excesses
|
You may be required to contribute an amount towards the cost of a claim. The excesses that apply are shown in your policy document under each section. There is usually a standard policy excess £50 applied to each claim. In respect of a claim for subsidence, heave or landslip the excess is £1,000. |
| Legal Expenses
(Section 7) |
The policy will not pay costs incurred before DAS has given written acceptance of your claim. There is no cover for claims not reported within 180 days after you should have known about the incident. There is not cover in respect of: - Contracts
involving a motor vehicle or offences from owning, driving
or using a motor vehicle or;
|
| Unoccupancy
(All Sections) |
If the property is unoccupied for more than 30 consecutive days, loss or damage caused by escape of water, malicious acts or vandalism, theft or attempted theft and any accidental damage to buildings or contents is not covered. |
In the first instance these should be referred to the intermediary arranging the insurance.
In the event that you remain dissatisfied the problem may be referred to The Managing Director, Axiom Underwriting Agency Limited, First Floor, Orchard House, Westerhill Road, Coxheath, Maidstone Kent ME17 4DH.
If your complaint remains unresolved, you are entitled to contact: The Compliance Officer, Great Lakes Reinsurance (UK) PLC, Plantation Place, 30 Fenchurch Street, London EC3M 3AJ (Tel: 020 3003 7000 or Fax: 020 3003 7010).
Complaints may
subsequently be referred to the Financial Ombudsman Service
(FOS), South Quay Plaza, 183 Marsh Wall, London E14 9SR. (Tel: 0845
0801800).
Axiom Underwriting Agency Limited is authorised and regulated by the Financial Services Authority. All Axiom Underwriting policies issued in the UK for individual customers or ‘small businesses’ are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if your insurer cannot meet its obligations (e.g. if it goes out of business or into liquidation or is unable to trade).
Further information
about compensation scheme arrangements is available from the
FSCS (www.fscs.org.uk telephone number 0207
892 7300).
Contact us
Home Insurance for Professionals working from home. In answer to a question asking "have you adequate insurance cover for your home business." The answer is often "yes I've checked with my insurers and they tell me I'm OK" BUT are you really OK?
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