It is a condition of the Licence Agreement that your property is insured for its full true total value and that cover is maintained throughout the total period of storage with us.
Please note that irrespective of whether or not you instruct us to include you within our insurance arrangements our liability for actual physical loss of or damage to your property is limited by the terms of the Licence Agreement which form part of our contract with you.
SUBJECT TO YOU GIVING US INSTRUCTIONS TO INSURE, we can arrange on your behalf insurance with Brit Insurance Ltd to cover physical loss or damage to your property whilst stored with us within our “Open Cover” insurance arrangements as summarised below.
The full true total maximum value of the goods at all times as declared to us on the Licence Agreement or elsewhere in writing. The sum insured shall in no circumstances exceed £ 50,000 for any one customer unless confirmed in writing by us. The total sum insured can be increased on payment of an additional charge, subject to the prior agreement of our Insurers.
Actual physical loss of or damage to our customers’ property caused by fire, lightning, explosion, aircraft or articles dropped therefrom, earthquake, storm, moth, insect and vermin from an external cause, ingress of water, flood, theft accompanied by forcible and violent entry or exit, riot, strike, civil commotion, malicious damage, subsidence and impact by vehicles or railway rolling stock.
Cover is extended to include the following perils in respect to Transits into and out of store:-
Fire, Theft Accompanied by Forcible and Violent Entry or Exit, Riot, Strike, Civil Commotion, Malicious Damage, Impact and collision or overturning of the conveying vehicle/trailer.
It is a condition of the insurance that the sum insured represents the full true total value of the property stored at all times. If you fail to declare the full replacement value of your property on the Licence Agreement, in the event of a claim you will only be entitled to recover from Insurers the proportion of the loss as the declared value bears to the total replacement value of your property.
The settlement of any claim shall be by replacement, repair and/or compensation at Insurer’s option. In the event of the total loss or destruction of any item insured under this Insurance, the basis of settlement shall be the cost of replacing the item as new provided that the item is substantially the same as but not better than the original when new.
Household linen and clothing.
Where any claim includes loss of or damage to any item(s) of household linen and clothing, Insurers will take into consideration the age, quality, degree of use and consequent market value of any such lost or damaged item(s).
Where any claim includes loss of or damage to documents the basis of settlement shall relate to the reasonable costs of reprinting and/or reasonable costs of reissue and/or reconstitution including, where applicable, fresh research or exploration to obtain essential information.
Insurers will not pay the first £50 of each customer’s claim.
Where any items are part of a pair or of a set Insurers shall only pay for the actual items which are lost or damaged. No payment will be made by Insurers for any items which are part of a pair or of a set and which are not lost or damaged.
All claims must be notified to us at the time of discovery of loss or of damage to your property or at the time of removal of your property from the unit, whichever is the soonest.
If your goods become lost or damaged and you wish to make an insurance claim please notify us in writing. Your notification should be sent to us at the address or fax number detailed in your Licence Agreement.
If you feel you have not been offered a first class service please write and tell us and we will do our best to resolve the problem. You may alternatively, if preferred, contact the Insurance Administrator: Reason Global Insurance. 4th Floor, Lyndean House, 43-46 Queens Road, Brighton, BN1 3XB
In the unlikely event you remain dissatisfied, please write to The Compliance Manager Brit Insurance Ltd, 55 Bishopsgate, London EC2N 3AS Tel: + 44 (0) 020 7098 6509 Fax: + 44 (0) 020 7984 8501
In the event you wish to pursue matters further you may be able to refer the matter to the Financial Ombudsman Service. The Financial Ombudsman Service can normally deal with complaints from private individuals and from small businesses with an annual turnover of less than £1 million (for a group of companies, this means a group annual turnover of less than £1 million). The Financial Ombudsman Service can also help with complaints from charities with an annual income of less than £1 million; and from trusts with a net asset value of less than £1 million.
The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR Helpline: + 44 (0)845 080 1800 Switchboard: + 44 (0)20 7964 1000 Website: www.financial-ombudsman.org.uk
Financial Services Compensation Scheme
Brit Insurance Limited is covered by the Financial Services Authority' Compensation Scheme (FSCS). You may be entitled to compensation from the Scheme if they are unable to meet their obligations. This depends on the type of business and the circumstances of the claim. Further information about compensation scheme arrangements is available from the FSCS.
Financial Services Compensation Scheme, 7th Floor Lloyd's Chambers, Portsoken Street, London, E1 8BN United Kingdom