Terms and Conditions
- Payment:
• New Clients:– I will be sent an invoice for £200 when the Rebuild Cost Assessment report is ordered.- If I choose to proceed with my VillageGuard quotation, then I will receive a refund of £100, to be sent 30 days after the policy has incepted.
• Existing Clients:– I will be sent an invoice for £100 when the Rebuild Cost Assessment report is ordered.
- If the surveyors report highlights that you are under-insured, your insurer will expect you to follow the surveyor’s advice,unless you can provide evidence that shows the surveyor’s assessment is inaccurate (e.g. an alternative RICS assessment survey report).
- Following receipt of the report, you may need to increase cover, which will result in a premium increase. Equally, any decrease in cover will result in a lower premium and refund if applicable. At each subsequent renewal, sums insured will be subject to index linking as with all VillageGuard policies.
- Allied Westminster cannot be held responsible for any Rebuild Cost Assessment errors or inaccuracies.
- As this is not a full on-site RICS Survey, to cater for any potential inaccuracy and for additional comfort and security within theprocess, the Insurer warrants an increase to the day one uplift to 25% of the base sum insured which represents the policy limit,at no additional premium cost for five years.
Waiver of Average and Free Increase of the Day One Uplift to 25% (specific to VillageGuard Scheme)
Provided that
- OUR valuation or other professional valuation accepted by US is not more than 5 years old at the time of the loss
- this waiver only applies to buildings which have been included within the valuation
- any alterations additions renovations conversions or repairs to buildings carried out after the valuation are notified to US as soon as is reasonably possible and the sums insured are adjusted by YOU accordingly
- index linking or any other inflation protection agreed by US has been applied continuously to the buildings from the date of valuation
Then at the time of Damage we will
- increase the day one uplift to 25% of the declared value as stated in the Schedule and
- Delete the Under insurance (average) provision in respect of any BUILDINGS item included in the survey
Caution – these benefits only apply to VillageGuard: The removal of the Condition of Average for five years (which eliminates underpayment due to under insurance on all buildings claims except total losses up to the uplifted sum insured figure on your policy schedule) and increase of the day one uplift to 25% protection free of charge (which gives additional protection in cases of total loss) are only guaranteed under the VillageGuard insurance policy. They are NOT guaranteed if you cancel your VillageGuard policy and move to another insurer.