It is a condition of the Licence Agreement that your property is insured for its full true 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 agreements 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 contact with you.
Subject to you giving us instructions to insure, we can arrange on your behalf insurance underwritten 100% by certain Underwriters at Lloyd’s and Others to cover physical loss or damage to your property within our “Open Cover” insurance arrangements as summarised below. You may inspect the policy at our office on request
Certain Underwriters at Lloyd’s
Total sum insured
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, earthquake, storm, flood, bursting &/or leaking pipes, ingress of water or other liquid substance, aircraft or articles dropped therefrom, moth, insect or vermin from an external cause, theft accompanied by forcible and violent entry to or exit from the building or Unit, riot, strike, civil commotion, malicious damage, and impact by vehicle or railway rolling stock.
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 we will only be entitled to recover on your behalf from our Insurers the proportion of the loss as the declared value bears to the total replacement value of your property.
Basis of claims settlement
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.
Pairs & sets clause
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.
Insurers will not pay the first £50 of each claim per customer
Time limit for claims notification
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.
Right to cancel
We have to give you certain information before you make your decision. If we have not given you this information when you buy your insurance (and you have not told us you do not want it) we will allow you a “cooling off” period of at least 14 days from the time you receive the information. If you do not want to continue the insurance, you may cancel your cover within this period and get all your money back (as long as you have not made any claims).
You may cancel your policy within fourteen days from the inception date without penalty. You will only be charged for your time on risk.
Customer service and complaints
Insurers are dedicated to providing a high quality service and want to ensure that this is maintained this at all times. If you feel you have not been offered a first class service please contact International Claims Agency Ltd who will do their best to resolve the problem. ICA’s contact details are:
International Claims Agency Ltd,
Unit 10, Invicta Way,
Ramsgate, Kent CT12 5FD United Kingdom
Telephone: +44 (0)1843 823820
Fax: +44 (0)1843 823956
In the event that the Complaints Department at ICA is unable to resolve your complaint it may in certain circumstances be possible for you to refer it to the Financial Ombudsman Service at:
Harbour Exchange Square
London E14 9SR
Tel No: 0800 023 4567
Financial Services Compensation Scheme
Insurers are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the Scheme if we cannot meet our obligations to you under this contract. If you were entitled to compensation under the Scheme, the level and extent of the compensation would depend on the nature of this contract. Further Information about the Scheme is available from the Financial
Services Compensation Scheme (10th Floor, Beaufort House, 15 St Botolph Street,
London EC3A 7QU) and on their website: www.fscs.org.uk
No cover is provided for the following
•Money, Coins, Bullion, Deeds, Bonds, Securities and the like.
•Livestock, Plants, Explosives and Flammables
•Jewellery, Watches, Precious Stones, Stamps of all kinds exceeding £500 combined total.
•Furs, fine arts, perfumery mobile phones, tobacco, cigars, cigarettes, beers, wines, spirits & the like exceeding £10,000 combined total.
•Electronic items exceeding £10,000 in total. Electronic items are defined as all items of consumer and commercial electrical appliances and instruments including but not limited to radios, televisions, computers, computer software, hard drives, chips, microchips, printed circuit boards and their components, modems, monitors, cameras, facsimile machines, photocopiers, VCRs, hi-fi, stereos, CD players, Digital Recorders/Players and the like. (Heavy electrical items such as switchgear, turbines and generators and the like shall be deemed not to be electronics)
•Loss of data records other than cost of blank data carrying materials.
•Any goods which you are not permitted to store under the terms of the Licence Agreement.
•Any consequence of War, Invasion, Act of Foreign Enemy Hostilities (whether War be declared or not), Civil War, Rebellion, Revolution, Insurrection or Military or Usurped Power or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority.
•Ensuing or indirect losses resulting from or as a consequence of claims made for loss or damage arising from an Insured Peril.
•Loss or damage from:
•ionising radiation from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel;
•the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or nuclear component thereof,
•any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.
•the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion of this sub clause does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried stored or used for commercial, agricultural, medical, scientific or other similar peaceful purposes.
•Loss or damage from any chemical, biological, biochemical or electromagnetic weapon. The use or operation as a means of inflicting harm of any computer system, computer software program, computer virus or process or any other electronic system.
•Loss of or damage to your property directly caused by pressure waves caused by aircraft and other aerial devices travelling at sonic or supersonic speeds
•If at the time of loss there is other insurance in force this insurance shall only respond to the extent that losses are not recoverable under the other insurance
•Loss of or damage to your property caused by or resulting from any act(s) of terrorism or any person(s) acting from a political motive.