Stamp Collectors Insurance
This is a summary of the cover and does not contain the full terms and conditions of the contract. Full terms can be found in the certificate wording which is available on request.
How are “stamps”
defined?
Stamps, covers, envelopes, postcards, albums, philatelic literature, stamp
boxes and cases, and/or other articles of philatelic interest or postal
history or interest. Cover can also be extended to coins, medals and many
other “collectibles” upon request.
Who are my
insurers?
The insurance is placed with Lloyds’ Underwriters.
Duration
of the Certificate
12 months from the date of commencement or as shown in the schedule.
What happens
if I take out cover and then change my mind?
If this is within 14 days from the date of commencement and there have
been no claims then we will allow a full return of premium.
What is covered?
The insurance is against all risks of physical loss or damage subject
to certain exclusions. The exclusions include damage caused by wear and
tear, gradual deterioration , moth, vermin, or directly caused by conditions
of storage i.e. in albums stacked on their sides or in unsuitable damp
locations. As with all insurance false or fraudulent claims will result
in the insurance becoming void and all claims being forfeited.
What is the
basis of valuation?
Market value, the intention of the insurance being to place you in the
same position as if you had sold the collection on the day of the loss.
If an item forming part of a set is lost or damaged then the settlement
will be either the market value of the block or set with the Underwriter
retaining the remaining part or the difference in market value.
What are
the geographical limits?
Cover is extended to anywhere within UK (including in transit) subject
to a limit of £15,000 away from the home. Cover for higher sums
away from home, other locations and overseas exhibitions is readily available
upon request. Restricted cover for material kept in a bank is available
at reduced premiums. We are also able to arrange cover for those living
overseas.
Important
conditions
Single items over £1,000 must be specified.
Transits of values over £150 must be sent by Special Delivery or
accompanied by you or your representative. It is important to be aware
that accompanied means under close personal supervision and would, for
example, exclude losses from unattended motor vehicles.
The insurance is subject to average which means that if the sum insured
is less than the market value claim settlements will be reduced in the
same proportion.
How do I
notify a claim?
By letter, telephone, fax or email to Wardrop & Co Ltd.
Complaints
We promise to do our best to provide a prompt, professional and personal
service. Nevertheless we all know things can go wrong and if we make a
mistake we will try to put it right immediately. If you are still unhappy
after contacting us then you are entitled to take the matter further and
to contact the Complaints Department at Lloyd’s, 1 Lime Street,
London EC3M 7HA, Tel 020 7327 5693 and, if the matter is still unresolved,
to the Financial Ombudsman Service
The company is authorised and regulated by the Financial Services Authority. Our Registration number is 304502 and you can check this by visiting the FSA Website or telephoning them on 0845 606 1234. The Wardrop & Co privacy policy can be found here.