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
In the event that you wish to make a complaint you may contact us at:

The Chairman
Wardrop & Co Ltd.
PO Box 772
Coggeshall
Colchester
CO6 1UW

Or telephone 01376 563764 or email complaints@wardrop.co.uk

Should you remain dissatisfied with the response that you receive from us, you may if you wish, refer your complaint to Lloyd's. Lloyd's will investigate the matter and provide a final response. Lloyd's contact details are as follows:

Complaints
Market Services
Lloyd's
One Lime Street
London
EC3M 7HA

Email: complaints@lloyds.com
Telephone: +44 (0)20 7327 5693
Fax: +44 (0)20 7327 5225
Website: www.Lloyds.com/complaints


Ultimately, should you remain dissatisfied with Lloyd's final response, you may, if eligible, refer your complaint to the Financial Ombudsman Service (FOS). The Financial Ombudsman Service is an independent service in the UK for settling disputes between consumers and businesses providing financial services. The FOS's contact details are as follows:

Financial Ombudsman Service
Exchange Tower
London
E14 9SR


Email: complaint.info@financialombudsman.org.uk
Telephone: +44 (0)300 123 9 123
Website: www.financial-ombudsman.org.uk

 

 

The company is authorised and regulated by the Financial Conduct Authority. Our Registration number is 304502 and you can check this by visiting the FCA Website or telephoning them on 0800 111 6768. The Wardrop & Co privacy policy can be found here.