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Accidental
damage
Provides cover against accidental damage, e.g. spillage on
carpets.
All
risks
If you are buying contents cover, you can cover some items
whilst your possessions are away from the home: i.e. those
items have "all risks" cover.
Buildings
Your home, including fixtures and fittings, outbuildings used
for domestic purposes and the following items: walls, gates,
fences, hedges, terraces, patios, drives, paths, tennis hard
courts, swimming pools, tanks, drains, pipes and cables servicing
the home.
Compulsory
excess
An amount which the insurer requires you to pay in the event
of a claim.
Contents
Home goods and possessions. If you are a tenant this also
includes fixtures and fittings for which you are responsible.
Cover
date
Date from which insurance cover applies. Cover cannot be back-dated:
the cover date must be today or a date in the future.
Family
legal protection
Provides cover for legal expenses arising from customer disputes,
personal injury claims, contract of employment disputes and
infringement of your legal rights relating to your home.
Index
linking
Your sums insured are reviewed annually in line with the appropriate
index.
Insurer
An insurance company or Lloyd's syndicate.
NACOSS
The National Approval Council for Security Systems.
New
for old
In the event of a claim, settlement is replacement as new
without deduction for wear and tear.
No
Claims Bonus (NCB)
A percentage discount on your premium based on the number
of years you have been insured without making a claim.
No
Claims Discount (NCD)
Same as no claims bonus (NCB)
Policy
document
A document providing details of the cover exclusions and conditions
applying to the contract of insurance.
Proposer(s)
The person or persons who provide details which form the basis
of a proposed contract with an insurer. The proposer may or
may not be the property owner.
RICS/FSVA
Professional bodies representing surveyors and valuers. Insurers
may require that surveys are carried out by members of these
associations.
Specified
personal possessions
Items which, because of their value, need to be separately
identified.
Sum
insured
The amount for which a particular item or section is covered.
Unspecified
personal possessions
Personal possessions which are covered for all risks, up to
a chosen total, but which are not individually specified,
because they do not exceed the single item limit.
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