The schedule to the policy contains the features that are specific to your insurance. It is not uncommon for errors to be made in the schedule of a policy and they can lead to disputes over coverage at the time of a claim.
The example shown below demonstrates some of the errors typically found in a Schedule.
Can you spot them? Answers in Appendix 1
Policy number: 867SY391
Insured: Smith and Smth Insurance Brokers Ltd.
- 2.Address: 38 High Street, Ellstead, Leicestershire LE3 7HR
- Premium: £3,8565.00 +IPT £192.80 = £4048.80
- Period of Insurance: From 31st November 2007 to 31st November 2008 (both dates inclusive)
- Limit of Indemnity: £2,000,00 each and every one claim and in all including costs and expenses
- Excess: £25,000 each and every claim including costs and expenses
- Business Activity: General Insurance
- Territorial Limits: Worldwide Excluding Europe USA and Canada
- Jurisdiction Limits: UK Courts only
Excluding liability for work carried out by Smith and Smythe
Excluding liability as Agent of Insurer
Warranted Insured supervises all FSA activity
- Proposal dated: 20 th September 2006
IT IS ESSENTIAL TO CAREFULLY CHECK THE SCHEDULE FOR ACCURACY AND TO MATCH YOUR EXPECTATIONS WITH YOUR NEEDS.