Summary of Insurance
If you ask us to accept responsibility for insuring your goods under our own insurance policy the insurance conditions set out below will apply. Please note that we cannot accept responsibility for insuring your goods unless you have provided us with a written declaration of values. If you do not provide a written declaration of values then our liability for loss or damage to your effects is limited by our trading conditions, which forms part of our contract with you.
For your information our insurance has been arranged with AXA Insurance UK plc and a copy of the policy wording may be inspected at our office upon request.
Please note that this insurance has been arranged solely in the name of our company. As our customer you will have no enforceable rights under our insurance policy.
Your property is covered from the time it is placed into the storage unit until the time it is finally removed from storage for loss or damage as a result of the following Insured Perils:
Fire, Lightning, Aircraft, Explosion, Earthquake, Riot, Strike, Civil Commotion, Malicious Damage, Storm, Flood, Water Ingress or other liquid substance, Moth, insect or Vermin damage caused by an external source, Bursting or leaking pipes, Escape of Water from fixed installations, Impact by Vehicles of any kind, Theft (following forcible or violent entry to or exit from the building or unit).
The collective value of your property as declared to us in writing by you. When calculating an appropriate sum insured, please refer to the Basis of Claims Settlement and the Average Condition in this document.
Basis of Claim Settlement
This insurance will accept claims on a losses discovered basis, that is to say any loss discovered during the period of this insurance. This will not affect any rights the Insurer may have to affect recovery of such losses discovered.
Insurers will take into consideration the age, quality, degree of use and consequent market value of items when calculating the settlement. Please note that no property shall be abandoned to insurers, but insurers reserve the right to claim appropriate salvage on any property which is the subject of a claim settlement under this policy.
In respect of claims for loss of or damage to documents, settlement shall be limited to the sum insured declared by you. The basis of settlement will be to indemnify you for reasonable costs of printing and/or reconstruction including, where applicable, fresh research or exploration to obtain essential information.
If your goods in storage (for which we have accepted responsibility for insuring under our policy) are, at the time of loss or damage, collectively of greater value than the value you declared then you shall only be entitled to recover from our insurers the same proportion of the loss as the declared value of your goods bears to the actual value of your goods.
– Actual value of your goods is £20,000, but you declare a value to us for your goods of £10,000.
– You have therefore undervalued your goods by 50% which entitles our insurers to reduce any settlement of a claim we make under our policy on your behalf by the same proportion.
– A claim presented by you to us at £5,000 would be offered settlement by our insurers at £2,500.
Pairs & Sets
Where any item consists of items in a pair or set, our insurers will pay for individual damaged items but not for undamaged companion pieces. If the individual items cannot be repaired or a replacement found then our insurers will also pay up to 50% towards the undamaged part of the set.
Our insurer’s liability is limited to the reasonable cost of repair and no claim will be considered in respect of any depreciation in value of any item as a result of such repair.
If any loss or damage occurring under our policy is covered by any other insurance at the time of such loss or damage our insurers will not pay more than their share.
If any claims are made where the person making the claim knows the same to be false or fraudulent as regard to the amount or otherwise, our insurers shall have the right to forfeit your claim.
Time Limits for Claim Notification
All claims must be notified to us immediately upon discovery of loss or damage to your property or at the time that your property is moved out of storage whichever occurs first and you must confirm the same in writing within 7 days of discovery of the loss or damage.
In line with the policy conditions, our insurers do not accept responsibility for the first £50.00 of every claim for loss or damage covered by our insurance.
The Terms and Conditions of our insurance policy are subject to the Law of England and Wales.
There are various exclusions under our standard policy terms and conditions, amongst which are:-
- Loss or damage to cars or other motor vehicles including motor cycles and mopeds, caravans, boats and/or trailers.
- Loss or damage due to mechanical, electrical or electronic derangement unless shown to be as a direct result of physical external damage to the item concerned or as a result of an Insured Peril.
- Loss or damage to jewellery, watches, trinkets, precious stones, precious metals, coins, money, deeds, bonds, securities and stamps or collections of similar kind.
- Any indirect loss even if this results from the incident that caused you to claim under our policy.
- Loss or damage to refrigerated or frozen food and/or drink, plants, house plants, brittle objects, items with inherent defects howsoever caused and/or goods likely to encourage vermin or other pests or to cause infestation, animals and their cages or tanks including pets, birds or fish.
- Prohibited or stolen goods, drugs, potentially dangerous, damaging or explosive items including gas bottles, aerosols, paints, firearms and ammunition.
- Theft or attempted theft which does not involve entry to or exit from the storage premises and/or storage unit by forcible and/or violent means.
- Radioactive contamination, Chemical, Biological, Bio-Chemical & Electromagnetic Weapons Exclusion
- Loss or damage caused by War, invasion, act of foreign enemy hostilities (whether war be declared or not) civil war, rebellion, revolution, insurrection or military or usurped power.
- Loss or damage caused directly by pressure waves caused by aircraft and other aerial devices travelling at sonic or supersonic speeds.
- Loss or damage caused by Terrorism
- Mould and/or Mildew, unless it can be reasonably demonstrated that such loss or damage arose as a direct result of an Insured Peril.
- Loss or damage caused by any infectious disease