Welcome to our Frequently Asked Questions
Due to the wide range of products and services we offer we have categorised the questions into related groups.
Motor Insurance
|
|
What is a policy excess?
|
|
An excess is the amount you pay in the event of a claim. It is worth noting that a policy may contain both a voluntary and a compulsory excess. These need to be added together and this is the total excess payable.
|
|
What are the different levels of cover on car insurance?
|
|
There are basically three different types of motor insurance policies: Third Party Only, Third Party Fire and Theft and Comprehensive.
However car insurance can be confusing. For instance Comprehensive cover from one insurer may not have all the benefits of a Comprehensive policy from another insurer.
There are so many different policies on offer from so many different insurers it is important to understand the levels of cover available so that you buy the right policy for your needs.
If you want to drive / use a car on a public road in the UK, Third Party Only motor insurance is the minimum legal requirement. A Third Party Only policy covers your legal liability for death of or injury to any person and damage caused to another persons vehicle or their property.
For an extra layer of insurance protection, Third Party Fire and Theft car insurance also covers your vehicle if it is stolen or damaged by a fire.
Comprehensive will cover you against damage to your car as a result of accidental damage, fire, theft and malicious damage as well as cover for windscreen damage. You are also covered for third party liabilities as described in Third Party Only cover above.
Comprehensive cover should include additional benefits such as Personal Accident Benefits, Medical Expenses, Personal Belongings, Courtesy Car and in-car entertainment.
However to make the initial price more attractive many companies these days, in particular on compare websites, are excluding these once standard benefits and making them chargeable when you go to take the policy out. We do not carry out this practice.
Optional extras like Protected No Claims Discount, Excess Protection and Breakdown cover are also available on most covers.
|
|
What types of cover does Henderson Insurance offer on motor insurance?
|
|
Henderson Insurance offers all three levels of cover: Comprehensive, Third Party Fire & Theft and Third Party Only. We also offer Breakdown Cover, GAP and Excess Protection policies.
It is worth noting that our Comprehensive policies are Fully Comprehensive and automatically includes benefits such as Personal Accident Benefits, Medical Expenses, Personal Belongings, Courtesy Car and in-car entertainment.
|
|
Why do I need motor insurance?
|
|
Under current legislation, third party liability resulting from the use of a motor vehicle is compulsory, with a minimum limit of £1million for property damage but unlimited as far as personal injury is concerned.
A new law now makes it compulsory for all motorists in Great Britain to insure their vehicle unless it has formally been declared off-road.
|
|
|
What is Homeowners Insurance?
|
|
Homeowners Insurance is another phrase for Home insurance. This is generally for people who own their own property and are looking for Building and Contents Insurance covers.
|
|
What is Home Insurance?
|
|
Home insurance covers damage to your property or belongings caused by certain events.
Home Insurance comes in three levels of cover – Building & Contents Insurance, Building Insurance and Contents Insurance.
Building Insurance covers any damage to the structure of your building itself, such as the roof, walls and floors. It also generally covers permanent fixtures and fittings, such as a bathroom suite and fitted kitchen. Generally anything you would leave when moving is classed as the building.
Contents Insurance covers damage to, or loss of, any personal possessions in the property, such as home entertainment equipment, carpets, clothing, furniture, and white goods.
The policies can be bought separately, as if you rent a property you will generally not require Building Insurance, although buying a combined policy can often be cheaper than buying separate policies.
|
|
|
What does Landlord Insurance cover?
|
|
Different covers will apply depending on whether your property is a residential or commercial let property. Some of the main covers available are:
Building(s) Declared Value plus uplift cover
Free Landlord Contents on Residential Lets (limits apply)
Legal / Property Owners Liability Cover
Loss of Rent Cover
Property Damage
Inflation Protection 'Day One' basis
Business Interruption
Eviction of Squatters Legal Costs
|
|
What is Landlord Insurance?
|
|
Landlord Insurance is vital, for you as a landlord, to protect your asset and choosing the correct policy is paramount.
Landlord Insurance, sometimes called Property Owners or Buy to Let Insurance, is specifically designed for properties that are rented out and not occupied by the owner. This may be a house, flat, shop, office, factory, workshop or warehouse.
|
|
Buy to Let Insurance - What are the basics?
|
|
The basics of a Buy to Let Insurance policy.
As a landlord it is likely that you will have invested quite a considerable amount of money in your property to make it as attractive as possible to any potential tenants. This is why protecting your investment should be your first priority before letting out your property.
Commonly known as buy to let insurance, there are three main features to a policy.
Landlords Buildings Insurance - This insures the structure itself and you will need cover based on the total cost of rebuilding your property, including site clearance and professional fees, in the event of total destruction. It is worth checking the terms and conditions of any policy to make sure what perils are covered, for example flood or fire damage, as this can vary if unoccupied.
Landlords Contents Insurance - Important for all landlords but especially those that are renting their property out part or fully furnished. This will cover the cost to replace/repair items such as furniture, carpets, white goods and any other item you will be leaving in the property. Most of our policies give a limited amount free of charge.
Landlords Liability Insurance (Property Owners Liability) - This is included as standard in all our Landlord Insurance policies and not an add-on. In a world where personal injury claims are helping raise the cost of other insurance products, it is just as important to protect yourself as a landlord. Personal injury claims can easily reach up to £100,000 per claim and this will protect you in the event that a tenant or visitor is injured at your property in which you are legally liable for.
|
|
|
What is an SME?
|
|
An SME is a small and medium-sized enterprise. This is effectively a category based on the size of a business.
|
|
What is Business Insurance?
|
|
Business Insurance is a broad name for different coverage available to a business and its owner to protect against losses and to ensure the continuing operation of the business.
Certain businesses can be catered for under a package policy, e.g. shop, pub, takeaway, restaurant, retail outlet, cafe, office or surgery. This is an all encompassing policy.
However should your business not be suitable for a package policy, e.g. factory unit, manufacturing, wholesaler, then a combined or commercial combined policy would be the best option. This policy allows you to choose individual covers / sections applicable to your business including specialist covers which may be specific to your trade.
Alternatively should you not have business premises you may only require liabilities cover.
Henderson Insurance has a wide range of policies to suit you individual needs.
|
|
|
What does shop insurance cover?
|
|
Shop Insurance generally comes in the form of a comprehensive package designed to cover businesses that operate in the retail sector. This may be a shop, pub, restaurant, takeaway or retail outlet.
Although it is not a legal obligation to purchase a complete shop insurance package it tends to be better value for money than separate covers. Please remember Employers Liability is compulsory under law.
A retail package generally includes the following:
Buildings Cover (optional) - This will cover the structure of the property should you own it. Should you rent or lease the property the landlord will normally insure the building, unless your lease agreement makes you responsible for insuring the building.
Tenants Improvements - Cover under this section is in respect of internal improvements you make to the fabric of the building, e.g. flooring, suspended ceiling, heating / ventilation system, painting and decorating.
Fixtures and Fittings - Under a retail insurance policy cover for fixtures and fittings may include shelving, display units, counters, fridge / freezer units, tills etc.
Stock - To cover your stock in trade, including refrigerated stock, for the standard perils under the policy. This may be extended to include customer's goods if required.
Deterioration of Stock - This will cover perishable items in fridges and freezers that are no longer useable, due to certain accidental incidents.
Glass, Signs & Canopies - Cover for the standard perils of the policy.
Money Cover - for cash, cheques, postal orders, postage stamps (policy limits will apply).
Business Interruption - This covers financial assistance for loss of net revenue or increased cost of working in the event of an insured peril preventing you from trading.
Public, Products & Employers Liability - This section covers death, injury, disease or illness, caused by your negligence, to the public or employees.
Treatment Risks (for Salon Policies) - This is available for businesses which carry out or offer treatments to the public and covers their negligence arising out of or as a result of the treatment.
|
|
What limit of indemnity do I require?
|
|
By law Employers Liability cover is required at £5 million, however in the UK insurers usually have a standard limit of £10 million on their policies. Public liability cover starts at £1 million, however if you are contracting to local authorities they generally insist on a minimum indemnity limit of £5 million.
|
|
What cover do I need for a limited company or business?
|
|
If you are a limited company and you are the sole director you only need Public Liability Insurance. All other small businesses and companies require both Public and Employers Liability Insurance for all employees including directors and most subcontractors.
|
|
What cover do I need as a sole trader or partnership?
|
|
If you are a sole trader or partnership, without any employees or subcontractors, you will only need Public Liability Insurance for each person involved in the business. However if you employ someone it is compulsory under law to have Employers Liability Insurance cover for all employees (some exclusions regarding immediate family apply) including labour only subcontractors. Bonafide subcontractors are treated differently.
|
|
What is Liability Insurance?
|
|
Liability Insurance is very important for your business as it pays for compensation if you are held legally liable for an adverse event which causes damage to someone else's property and/or injures them.
|
|
Property Owners Insurance / Buy to Let Insurance
Please see Landlord Insurance above.
|
|
Complaints and Compensation
|
|
|
How do I make a complaint?
|
|
Complaints and compensation
We aim to provide you with a high level of customer service at all times but, if you are not satisfied, please contact us:
in writing... Write to The Directors, at the address shown below
by phone... Telephone 0191 5235001
by email… info@hendersoninsurance.co.uk
When dealing with your complaint, we will follow our complaint handling procedures; a summary of these procedures is available on request. If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service. For further information you can visit FOS website www.financial-ombudsman.org.uk.
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. If you are eligible to claim from the FSCS, compensation is available as follows:
•Insurance advising and arranging is covered for 90% of the claim, without any upper limit
•For compulsory classes of insurance (such as Third Party Motor or Employers Liability), insurance advising and arranging is covered for 100% of the claim without any upper limit
Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 (freephone) or 020 7741 4100 or www.fscs.org.uk.
|
|
