Page 9 - Bay Union - Platinum Policy Wording
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Introduc on to your policy
Report insurance fraud
Insurance fraud is not a vic mless crime. It imposes addi onal costs on honest policyholders and wastes the valuable resources of our community. This means it a ects everyone.
We ac vely pursue fraudulent and in ated claims in order to keep your premiums as low as possible. Fraudulent claims will be inves gated and may be reported to the police.
Help us  ght insurance fraud by repor ng:
○ in ated repair bills
○ staged incidents
○ false or in ated claims
○  res which may be inten onally started, including by someone known to you.
To report suspected insurance fraud: phone 0860 002 526 or SMS: 32269 or, email: Let’s work together to reduce the impact of insurance fraud on the community.
About your sum insured
○ What is a sum insured? The sum insured is the most you can claim for any one incident. The amount is stated in the schedule. The sum insured includes VAT and any adjustment you are en tled to.
○ Make sure your sum insured is adequate: When you are under-insured you can be exposed to serious  nancial loss if a claim occurs. Make sure your home and contents are insured for the replacement value. Motor vehicles must be insured for the retail value or where agreed, for the sum insured stated in the schedule. It is your responsibility to decide on the value of your sum insured and ensure that your sum insured is adequate.
○ Review your sum insured regularly: Make sure your sum insured is adequate; it is important to review it regularly and ask us to change the sum insured when required. New replacement prices on contents are constantly changing, especially for jewellery, valuables, photographic, computer, audio-visual equipment and electronic goods.
If you upgrade the size and standard of your home, it may increase the cost to rebuild your home. Your sum insured will need to re ect these types of changes.
We do o er an asset inventory service whereby we will appoint a surveyor to survey your assets and this cost might be charged for as an addi onal outsource fee.
○ If you over-insure: We will not pay more than it costs us to reinstate, repair or replace. We will not refund any premium overpaid for over-insuring so it is a good idea to constantly review your sums insured.
○ Value Added Tax (VAT): VAT is included in your sums insured limits and the most we will pay as stated in this policy wording and in your schedule.
Bay Union – Pla num Policy Wording – 24 October 2016 7

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