Page 17 - Bay Union - Platinum Policy Wording
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General terms and condi ons
– Annual premiums
If you are paying annually, you are allowed a 30-day grace period a er the start of your policy to settle your payment. If you miss this deadline, your policy will automa cally lapse. Any claims you may make during the grace period will not be settled un l you pay all premiums s ll outstanding, or agree to them being deducted from any settlement.
○ Period of insurance means the  me for which this policy is in force as stated in the schedule. If you pay your premium annually, cover con nues to the anniversary date of your policy plus any period for which you renew your policy. If you pay your premium monthly, the period of cover con nues for each calendar month for which you have paid the premium.
○ Precau onary measures means if you declared precau onary measures at any  me during the period of insurance, or any such measure is a prerequisite for cover as stated in your schedule, you must ensure that these measures are in place and in working order at the  me of loss or damage for which a claim is submitted. If these measures are not in place, fully maintained and in working order there will be no cover.
○ Proof of ownership and value means when you make a claim we may ask you to give us proof of ownership and value for what you are claiming for. This is especially important for valuables and items listed in your schedule and/ or any supplementary documenta on, especially items such as jewellery, electronic items and watches.
There are some items where we will reduce or reject a claim unless you have proof of ownership and value. We have provided a further explana on on this under the sec on 'How we settle your claim'.
○ Reinstatement of sum insured means the sum insured stated in the schedule will not be reduced by the amount of any claim.
○ Rights to you only means nothing in this policy is intended to give any person other than you or us any right to enforce any term of this policy.
○ Special condi ons means we may impose special condi ons on your policy that might exclude, restrict or extend cover for a person or par cular matter. Any imposed condi ons will be stated in your latest schedule. It is important that you read your schedule carefully.
○ Sum insured or limit must be stated in the schedule. Any maximum amount which is le  blank or has no monetary amount against it is not insured by the policy.
○ Survey means we may ask a surveyor to survey and quan fy the value of your home and/or contents at any  me. Based on the outcome of this survey, we may do any of the following:
– change the terms, condi ons and exclusions of your insurance by giving 30 days’ no ce
– increase the value of your sum insured
– cancel your insurance by giving 30 days’ no ce
– treat your policy as null and void.
It is important to note that the responsibility to verify and agree that the values are adequately stated and re ected in the survey remains with you.
Bay Union – Pla num Policy Wording – 24 October 2016 15

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