Landlord Insurance Definitions

Landlord Insurance- Buildings:
The private dwelling(s) as specified in the schedule constructed of brick, stone or concrete with a slate, tile or concrete roof including interior decorations and fixtures and fittings and domestic outbuildings, garages, domestic fixed fuel oil tanks, swimming pools, tennis courts, drives, patios and terraces, walls, gates and fences all owned by you or for which you are legally responsible and within the premises as specified in the schedule.

Landlord Insurance- Contents:
Household goods within the Buildings as shown in the schedule, including aerials, satellite dishes, their fittings and masts, which are permanently fixed to the buildings.

Property in the open but within the boundaries of the property up to £250 all of which are owned by you or are your legal liability.

Landlord Insurance- Excess:
The first amount of each cliams which you have to pay. The Excess applies seperately to each individual property detailed in your schedule.

ENDORSEMENT
Documentary evidence of a change in the wording of or cover offered by an existing policy or qualification of wording if the policy is written on restricted terms.

EXCLUSION
A provision in a policy that excludes the insurer's liability in certain circumstances or for specified types of loss.

INCEPTION DATE
The date from which, under the terms of a policy, an insurer is deemed to be at risk

INSURED
The person whose property is insured or in whose favour the policy is issued.

LAPSE
The non-renewal of a policy for any reason

MATERIAL FACT
Any fact which would influence the insurer in accepting or declining a risk or in fixing the premium or terms and conditions of the contract is material and must be disclosed by a proposer, or by the insurer to the insured.

QUOTE
A statement by an insurer of the premium he will require for a particular insurance

Landlord Insurance- Schedule
The part of a policy containing information peculiar to that particular risk. The greater part of a policy is likely to be identical for all risks within a class of business covered by the same insurer