| Company |
|
|
|
Number of People
|
10 (Per Capita Scheme)
|
10 (Per Capita Scheme)
|
|
Maximum Turnover
|
1,500,000
|
1,500,000
|
|
Claims
|
No claims or losses have exceeded a total value of £1,500, in the last 3 years, however please refer to Norwich Union if claims are higher an/or more frequent on the adjustable scheme
|
No claims or losses have exceeded a total value of £1,500, in the last 3 years, however please refer to Norwich Union if claims are higher an/or more frequent on the adjustable scheme
|
|
Schemes
|
Per Capita
This is where the premium is calculated on the number of partners, principals and employees. Similar to the way PLEL is calculated. The more people the greater the premium.
Also this scheme has two options (1 & 2) where all sums insured are set and cannot be modified. This has been put together to save you time and energy insuring many small risks that will in turn create higher premiums than normal. This way the requirements, if not exceeding the limits on the sums insured are simply ‘placed’ into a category option. Depending on the amount of people working for the business a standard premium is charged.
|
Per Capita
This is where the premium is calculated on the number of partners, principals and employees. Similar to the way PLEL is calculated. The more people the greater the premium.
Also this scheme has an option where all sums insured are set and cannot be modified. This has been put together to save you time and energy insuring many small risks that will in turn create higher premiums than normal. This way the requirements, if not exceeding the limits on the sums insured are simply ‘placed’ into a category option. Depending on the amount of people working for the business a standard premium is charged.
|
|
Adjustable
|
CAR can be calculated on an adjustable basis where the sums insured exceed the per capita options scheme or there are more than 10 people.
This where the premium is calculated on a p rate percent which is the price in pounds for each hundred pounds of insurance. For example a rate percent of 1.0% would mean that a charge of £1.00 would be made for every £100 of the sum insured.
The total premium is a combination of the rates per cent of the sums insured for;
- Contract Works (based on annual turnover)
- Own Plant &
- Tools sum insured
- Hired in plant (based on annual hire charges)
- Employees tools sum insured
|
CAR can be calculated on an adjustable basis where the sums insured exceed the per capita options scheme or there are more than 10 people.
This where the premium is calculated on a p rate percent which is the price in pounds for each hundred pounds of insurance. For example a rate percent of 1.0% would mean that a charge of £1.00 would be made for every £100 of the sum insured.
The total premium is a combination of the rates per cent of the sums insured for;
- Contract Works (based on annual turnover)
- Own Plant &
- Tools sum insured
- Hired in plant (based on annual hire charges)
- Employees tools sum insured
|
|
Excesses
|
| Public Liability |
In respect of... |
| £500 |
Standard Excess |
| £750 |
Theft and Malicious Damage |
| £100 |
Employees Tools |
|
| Public Liability |
In respect of... |
| £250 |
Tool cover Only |
| £500 |
Own Plant |
| £500 |
Plant on hire |
| £500 |
Contract Works |
|
|
Statement of fact
|
Yes
|
Yes
|
| Key policy features |
Three Options Available
Statement Of Fact
Low Standard Policy Excess
Same Day Policy Issue
Property Awaiting Sale Covered
Includes debris removal
Includes off site storage
Cover applies to anywhere in the UK and in Transit
Cover for hire companies hire charges in the event of loss or damage to hired in plant
Architects & surveyors fees are covered in the reinstatement of property
Upto 10 Employees
|
Two Options Available
Statement Of Fact
Low Standard Policy Excess
Same Day Policy Issue
Property Awaiting Sale Covered upto 90 days
Includes debris removal
Includes off site storage
Cover applies to anywhere in the UK and in Transit
Cover for hire companies hire charges in the event of loss or damage to hired in plant
Architects & surveyors fees are covered in the reinstatement of property
Upto 10 Employees
Pick & Mix (Choose cover and then choose limit up to the maximum amount needed)
|
| Cover Provided |
| Description |
Option 1 |
Option 2 |
Option 3 |
| Contract Works |
£100,000 |
£250,000 |
Upto £500,000 |
| Own Plant/Tools |
£15,000 |
£25,000 |
Upto £25,000 |
| Hired in Plant(SIL)* |
£50,000 |
£50,000 |
£50,000 |
| Temporary Buildings |
£2,000 |
£2,000 |
£2,000 |
| Show Home Contents |
£10,000 |
£10,000 |
£10,000 |
| Employees Tools |
£500 |
£500 |
£500 |
| Architects Drawing |
£25,000 |
£25,000 |
£25,000 |
| Property Awaiting Sale |
Covered for 90 days |
Covered for 90 days |
Covered for 90 days |
|
| Cover |
Limit |
Notes |
| Tools Cover Only |
£2500 |
Theft from unattended vehicles overnight are excluded |
| Own Plant |
£25,000 |
Own and hire plant covered under same section. |
| Hired in Plant |
£50,000 |
|
| Contract Works |
£250,000 |
|
|
| Other Information |
All Premiums above are plus IPT
SIL: Single Item Limit
For an additional £50,000 Contract Works cover the extra premium is £40 + IPT up to a maximum of £500,000 limit.
For an additional £50,000 own plant and Tools cover the extra premium is £75 +IPT up to a maximum of £65K for Option 1 and £75K for option 2
|
|