« back 

Policy Wording

This policy records that in return for you paying and us accepting the premium we will provide the Benefits shown during the period of insurance subject to the terms and conditions set out below.

1. DEFINITIONS

The words that appear in this policy in bold have the following meanings:

“buildings insurance policy” means a policy of insurance that covers the insured premises against loss of or damage to the insured premises by perils including subsidence heave and landslip;

“insured premises” means the premises to which cover under this policy applies;

“excess” means the amount that you have to pay towards a claim for subsidence heave or landslip under the buildings insurance policy;

“Insurer” means insurer of the buildings insurance policy;

“period of insurance” means the period shown in the schedule and any further period for which this policy is renewed;

“premium” means the sum payable by you for insurance cover under this policy;

“schedule” means the schedule attached to and forming part of this policy;

“we, our, us” means Guarantee Protection Insurance Limited of 37 Carrick Street, Ayr, South Ayrshire, KA7 1NS;

“you, your” means the person(s) named in the schedule.

2. BENEFITS

In the event that you have a claim paid under the buildings insurance policy for loss of or damage to the insured premises caused solely by subsidence heave or landslip that was first reported to the Insurer of the buildings insurance policy during the period of insurance we will pay you the amount of the excess not exceeding the sum insured shown in the schedule.

3. EXCLUSIONS

This policy does not cover;

(i) Any part of the excess if a claim payment is not made under the buildings insurance policy;

(ii) The excess if the claim paid under the buildings insurance policy was not due to subsidence heave or landslip;

(iii) The excess if at the commencement of this insurance you knew that any part of the insured premises had been damaged by subsidence heave or landslip and you have not told us about it;

(iv) The results of coastal erosion.

4. GENERAL CONDITIONS

(i) If you do not comply with the terms of this policy you will not be entitled to any benefit under this policy.

(ii) This insurance shall be subject to the exclusive jurisdiction of the English Courts and to English Law.

(iii) We are covered by the Financial Services Compensation Scheme (the ‘Scheme’). You may be entitled to compensation from the Scheme if we cannot meet our obligations. There are maximum levels of compensation you can receive under the Scheme and your entire loss may not be covered. Further details are available from the Scheme – telephone 020 7892 7300.

5. CANCELLATION OF POLICY

(i) You may cancel your policy within 14 days of receiving your policy documentation and receive a refund of any premium paid. You may cancel your policy after 14 days of receiving your policy documentation but will not be entitled to any return of premium.

(ii) We may cancel your policy immediately if we have proof of your fraud in relation to your cover under this policy.

6. HOW TO MAKE A CLAIM

As soon as you notify the Insurer of the buildings insurance policy that you have a claim due to subsidence heave or landslip under that policy, contact your intermediary or us at Guarantee Protection Insurance Limited of 37 Carrick Street, Ayr, South Ayrshire, KA7 1NS. Telephone 01292 268 020 and request a claim form.

We will require proof of the acceptance and payment of the claim under the buildings insurance policy and of the amount of the excess before any payment is made under this policy.

7. ENQUIRIES AND COMPLAINTS

Any enquiry or complaint that you may have about this insurance should be addressed in the first instance to the Intermediary shown in the schedule:

Please be ready to quote your policy number shown in the schedule so that the matter can be dealt with promptly.

If you are not satisfied you should write to:

The Chief Executive
Guarantee Protection Insurance Limited
37 Carrick Street
Ayr, South Ayrshire
KA7 1NS.

In the unlikely event that you remain dissatisfied you should contact

Financial Ombudsman Service (FOS)
South Quay Plaza
183 Marsh Wall
London
E14 9SR

This procedure will not prejudice your right to take legal proceedings. However please note that there are some instances where the FOS cannot consider complaints.