HOUSEHOLDER INSURANCE TERMS AND CONDITIONS

• Payment of premium in line with NAICOM’s guideline of no premium no Cover
• The insured shall exercise all reasonable precautions for the maintenance and safety of the property insured under this policy
• The insured shall give Immediate notice to the company in an event of claim
• If there has been theft or any attempt threat an immediate notice shall be given to the police
• Shall not incur any expense in making good any loss or damage without our written consent and shall not negotiate, pay, settle, admit or repudiate any claim without the like consent,
• Shall give us all such information as we may reasonably require
• Provide particulars of all other insurances, if any
• All benefit under the policy shall be forfeited if any claim made is in any respect fraudulent means or fraudulent devices are used.
• The policy shall be voidable by the company in the event of misrepresentation, mis-description or non-disclosure in any material particular by the insured.
• The policy may be terminated at any time by either party in writing in which case the company will retain the customary short period rate for the time the policy has been in force.
• If the contents hereby insured shall at the time of any loss be collectively of greater value than the sum insured thereon, average condition will apply.
• If any difference arise as to the amount of any loss or damage (liability being otherwise admitted) such difference shall independently of all other questions be referred to the decision of an arbitrator to be appointed in writing by the parties.
• DEDUCTIBLES/EXCESS:
• Warranted that the Insured shall contribute 20% of the cost of repair or replacement on each and every item damaged or lost within the scope of the policy.
• A single article limit of 2% will apply where the insured did not supply a list of items covered by the policy as required.