Business equipment, tools, materials & stock insurance

Summary of cover

What is a summary of cover?

It is an outline of key cover benefits and limitations. For the full cover terms and conditions, please refer to the policy wording which will prevail in the event of a claim or dispute.

Who underwrites this insurance?

‬This insurance is arranged and administered by Suited and underwritten by the Insurer, Admiral Business, a‬ trading name of Able Insurance Services Limited, on behalf of Admiral Insurance (Gibraltar) Limited.‬

What is insured—significant features and benefits

This cover will respond if in the instance of:

✔ Physical loss or damage caused by road traffic accident, fire, theft or attempted theft from a vehicle or from home.

The cover will also provide: 

✔ Overnight storage in a vehicle if you select this cover option.

What is not insured—significant or unusual exclusions or limitations

This cover will not respond to claims in relation to:

✗ The following property:

• Money, credit or debit cards, stamps, tickets, vouchers, securities or anything similar
• Documents or business records (including those stored electronically)
• Computer hardware and components of a similar nature (other than 1 laptop or tablet covered in the Policy) used in or in connection with a computer or other device. We will not cover any Claim for loss of Data stored on any storage device.
• Satellite navigation equipment, games consoles or televisions
• Mobile phones, electronic organisers, digital cameras or other electronic devices which are designed for recording, storage, management, processing, use, display, playing, transmission or communication of data, images or sound.

‍✗ Property left in the open cargo area of an unattended vehicle unless it was stored in a toolbox or chest which was permanently fixed to the vehicle and was securely locked with the keys removed.

✗ Property left in an unattended vehicle where the doors, windows or other openings were left open or unlocked or the keys weren’t removed. 

✗ No evidence of forced or violent entry.

✗ Property:

• stolen from an unattended home where all doors and windows are not securely locked
• that was damaged or destroyed because it wasn’t packed well enough to withstand transit or because it was carried in an unsafe, insecure or illegal manner
• carried by You under a contract of hire or reward, handling or storage
• while it is being driven under its own motive power or towed on its own wheels
• that has suffered a mechanical, electrical or electronic breakdown or failure
• that was damaged or destroyed because of deterioration, mildew, mould, moth, vermin, ordinary wear and tear
• that has pre-existing damage

✗ Work at:

• Power stations or nuclear establishments
• Oil, gas or chemical refineries, bulk storage facilities or production premises
• Aircraft
• Watercraft
• Railways or airports
• Underground or underwater locations, piling work or water diversion
• The use of explosives
• Construction work on towers, steeples, chimneys, shafts, blast furnaces, viaducts, bridges, docks, tunnels, dams or reservoirs
• The erection or repair of buildings or structures more than 20 metres in height; or excavation work more than 3 metres in depth, unless disclosed to and accepted by Us before the start of the Policy.
• Hospitals and other medical facilities
• Quarries
• The pharmaceutical industry
• Laboratories

✗ Dishonest, deliberate or malicious acts by you or any employee.

‍✗ Damage to or loss of your business equipment, tools, materials & stock unless they have been purchased in your name and you have the receipt to prove it.

For the full cover exclusions or limitations, refer to the policy wording.

What are the cover limits and excess?‬

For the full cover exclusions or limitations, refer to the policy wording.

Where am I covered?

Great Britain, Northern Ireland, the Channel Islands and the Isle of Man including travel between any of these unless it is agreed otherwise and specified in the Schedule.

What are my obligations?

The information you provide to us about yourself and your business circumstances must be complete and accurate. This obligation applies at all times - before applying for cover and throughout its life. You must notify the insurer as soon as possible, and no later than 14 days after becoming aware of any threat, incident or an occurrence that might lead to a claim. Do not admit liability or make any settlement offer regarding a claim without prior consent from the insurer.

Failure to comply with the obligations above may invalidate your policy or a claim.

When does the cover start and end?

Your cover will start on the date you select and will continue each month until it is cancelled.

How do I cancel the contract?

Cancel anytime in your Suited customer portal or contact Suited. 

When and how do I pay?

The premium will be collected from your payment card each month.

How do I notify a claim?

Refer to the policy wording for details.

How do I make a complaint?

If you want to make a complaint about this insurance, refer to the policy wording for details.