By administrative work, we mean things like paperwork, clerical work and keeping the accounts up-to-date. This could include salespeople or designers such as measuring for kitchens and bathrooms. Please only include people who only do administrative work. If someone does both manual and clerical work they should be included in the manual workers.
If you have told us you have an alarm at your business premises, this condition details the instructions you must follow for your intruder alarm system in order for us to consider paying a theft claim.
A payment made to cover the costs for you to move to another premises in order to continue trading if your premises are unusable following damage covered by the policy.
An annual percentage rate (APR) is a way of measuring how much a financial product will cost you each year over the term of a contract. E.g. any interest charged on paying your insurance monthly.
If the amount we're willing to pay out for a claim is less than what you think it's worth, you may want to dispute it. Arbitration is the process of using a third party to settle such issues.
When someone is injured following an accident, this includes death, disease or illness.
Contractors, such as plumbers or electricians, hired for a specific specialist job as a part of a wider contract. They work independently and are responsible for their own health and safety, set their own hours, supply their own tools and materials and paid through invoices or fixed priced contracts. They should have their own liability insurance and are responsible for the work they have carried out.
This is an extension under the business interruption section that covers the cost of reproducing records and chasing any money owed following the destruction of accounting records following an insured event.
This would cover the cost of rebuilding or repairing buildings that have been damaged by an insured event e.g. a fire, flood.
This would cover the cost of replacing or repairing items used by your business, such as your stock, shop shelving, office furniture or work computer that have been damaged by an insured event e.g. fire, flood or they have been stolen.
Business interruption covers loss of turnover, and the costs of a temporary relocation, if your business cannot trade due to damage to your equipment or premises.
When your property has suffered damage or a loss as a result of something that is covered under your policy e.g. fire, flood or theft.
This sets out the legal system that applies to the policy is someone disputes it. We consider all of our policies to be under English Law.
This means you are covered when a claim is made against you, regardless of when the incident happened.
If someone is under contract to work for you, they may need a collateral warrant to hire someone to work on the same job. For instance, an architect working for a construction site. This warrant holds this third-party to account, making sure they carry out their work in a professional manner. It also entitles this third-party to claim for losses that they wouldn't otherwise be able to recover.
Conditions within the policy that you must comply with in order for us to pay a claim. For example, there might be a condition on your insurance policy that says before a ground excavation is undertaken, you must carry out a survey. If you do not carry out a survey, and the underground cable is damaged, you would not be able to make a claim.
When your property has suffered damage or a loss as a result of something that is covered under your policy e.g. fire, flood or theft.
This covers work that is in progress that is damaged by an insured event, such as a fire, flood, vandalism, or theft. We can cover the costs required to repair or redo the work.
For example, if you're a builder working on a house and a fire destroys part of the house five months into a six-month contract, we can help you to complete the contract by:
Contract value (based on the maximum value for any one contract anywhere within the UK)
Excess per claim - £500
If you're a victim of cybercrime or your website is hacked, this policy covers the cost of recovery. This might include fixing computer system damage, financial loss and data breach expenses.
This law controls how organisations can use personal information in the UK. This data must be kept safe, secure and up to date. Additional protections cover sensitive information, such as someone's ethnic background, political opinions or health.
This provides cover for the cost of removing debris at your premises or demolishing your property that is covered by the policy, when it has been damaged by an insured event.
Where work has not been carried out correctly or to a good standard.
When there is damage to property within the vicinity of your business premises that prevents or hinders access or use of your premises.
This insurance covers you if one of your employees makes a claim against you after being injured or becoming ill due to the work they do for you.
When your property has suffered damage or a loss as a result of something that is covered under your policy e.g. fire, flood or theft.
This is what you'll pay towards an insurance claim. It's sometimes called a 'deductible.'
Any fixed power-driven woodworking machinery, such as circular saws, vertical spindle moulders and surface planers which are used by any person working for you in connection with your business. This does not include hand held equipment such as drills and routers.
This is anything that you cannot reasonably remove from a property, such as skirting boards and plumbed-in items, like sinks and toilets.
This is for people who run a business offering accommodation to paying guests. It will cover your business if it is impacted by an insured event, such as a fire, flood or theft.
This would be equipment that produces open flames or any other sources of heat or sparks that could ignite flammable or combustible materials. The equipment used could include angle grinders, blow lamps, blow torches, gas torches, welding equipment, hot air guns, flame cutting equipment and tar, bitumen or asphalt heaters. This does not include the use of a soldering iron.
This covers the cost of replacing damaged or stolen machinery that you've hired, under contract, on a short term basis. This could include cement mixers, diggers, generators or even temporary site huts and caravans.
A contractual agreement where you take responsibility for any claims made, whether you are responsible or not.
Any additional expenses reasonably incurred, but only to avoid or minimise any reduction in turnover during the indemnity period, resulting from damage.
We will agree to pay/cover a claim made against you.
Indemnity means that one party in the contract is responsible for compensating another for the loss, damage and/or injury that they have caused.
Covers the legal costs and compensation payments that your business would have to pay for if you or one of your employees accidentally damage someone else's property or accidentally injure a third party.
The limit you select will be the maximum we will pay for each claim.
This clause means that the principal (who is usually the end customer, your client or the main contractor) is included as an insured party under the policy so that they are covered if a claim is made against them as a result of another person's actions. So if there is a claim made against the principal by their client and you are determined to be responsible, the policy will cover the claim as if the claim was being made against the principal.
If your policy is index-linked and there's a change in the costs involved to rebuild the property (e.g. if the price of bricks increases), at renewal, your sum insured will automatically increase too. Index Linking also applies to your business contents.
When goods are being transported e.g. from your premises to a customer.
This is the name sometimes given to the tax rules regarding off-payroll working for contractors and consultants that work through an intermediary, such as a personal service company.
Labour-only subcontractors are usually hired on a project when extra help is needed. They will work under your supervision, use your tools, equipment and materials. You determine working hours, where they work and their daily tasks. Classed as an employee you are responsible for their Health & Safety and you must have Employer's Liability for them.
Insurance to cover the costs of hiring a solicitor or barrister for a range of civil and business issues. This might be to pursue a claim against a third party or defend against one.
The responsibility that someone has for their actions e.g. paying another person who has suffered harm or damage that is a result of these actions.
Something you are responsible for or something that we are responsible for paying a claim on.
This is the maximum amount your insurer will pay out for an insured event included in your policy.
These are the protections you must fit to the doors and windows (where these are under your control) of your premises. They must be put into full operation outside of business hours in order for us to consider paying a theft claim.
Public nuisance is a criminal offence involving environmental danger, loss of amenity or offensive public behaviour. A private nuisance is caused by a person doing something on their own land or in their property, that they are lawfully entitled to do but becomes a nuisance when the consequences of their actions causes damage, inconvenience or discomfort to a neighbour.
An event that results in a claim.
This refers to insurance that's not automatically covered by your existing policy, that you can add for an extra cost.
The money owed to you by your customers minus adjustments for bad debts and abnormal trading conditions.
This covers the theft or damage to plant machinery - things like diggers and generators - that you own as part of your company.
When your property has suffered damage or a loss as a result of something that is covered under your policy e.g. fire, flood or theft.
The period from the start until the end date of your policy.
The document that tells you what you're covered for, what you aren't covered for, and the conditions of that cover.
The location/address where your business trades from.
This insurance covers your business in case a product that you make or sell injures a member of the public or damages their property.
Covers the cost of legal fees and compensation claims you have to pay if you or an employee gives advice that causes your client to lose money or harms their reputation.
Covers the cost of legal fees and compensation claims you may have to pay if a member of the public is harmed, or their property is damaged, because of your business.
The conditions you have to meet if you want to be covered under a policy.
Reasonable prospects of achieving a successful outcome exist if, on the balance of probabilities, there is a greater than 51% chance of successfully pursuing a claim.
We will pay the cost of damage to your property based on the current replacement cost, without any deduction for wear and tear or other depreciation.
The location/address where your business trades from.
This cover things like baths, washbasins, pedestals, bidets, shower trays, sinks and toilets.
This document details the risk we are covering (the trade, insured name and risk address), which sections you have selected to cover, the level of cover, the sums insured and also any endorsements that have been applied.
An increase to your stock sum insured for 2 months of the year, of your choosing, to allow for times in the year when you hold higher levels of stock due to your busy period of trading. Our seasonal increase also provides cover around bank holidays.
Rules and practices you must agree to when working, such as not working at a certain height or using heat equipment. If you do not comply with these rules, you will not be able to make a claim.
A stillage condition determines how you must store your stock if it is kept in a basement or the ground floor of your premises.
We will be entitled to carry out in your name, or on your behalf, all necessary steps to recover costs from any other party, before or after payment is made by us.
The downward movement of a surface (when the ground beneath a building sinks), causing the ground beneath the foundations of a building to become unstable (as the movement pulls the property's foundations down with it). It usually occurs when the ground loses moisture and shrinks due to prolonged dry spells or trees and shrubs which cause the soil to lose moisture.
The figure you have asked us to cover you for.
A temporary employee works for the business short term and on an ad hoc basis.
The geographical area that your policy covers.
This type of business insurance covers you for money that is damaged or stolen. Usually, this kind of policy only covers up to a set amount, for instance, £1,000.
If damage is caused by a leak but you aren't sure where it's coming from, this insurance covers the cost of locating the source and fixing any damage caused when locating the source, up to the limit stated in the policy.
The unlawful occupation of, or interference with, land or property belonging to someone else or the interference of a person or goods.
The money paid or payable to you for goods sold (less the cost of purchases) and delivered and for services provided by the business.
The people who decide whether or not to accept an application for insurance cover.
A waiver is a legally binding part of the policy that removes a real or potential liability for the other party. For example, after a settlement between two parties, one might waive their right to pursue legal action.
A partner in a business who takes an active role in managing it. The opposite of a 'silent partner'.