Welcome to the Terraffirm Frequently Asked Questions section, which aims to answer some of the more common questions relating to the policy. If you have any further questions that are not answered here, please contact Countrywide.
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Q What type of commercial properties can be covered by the policy?
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A The policy is for existing, established commercial premises which are either non-industrial (e.g. retail, offices, hotels) or light-industrial (e.g. light manufacturing, warehousing)
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Q What does the policy cover as standard?
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A Option 1 covers clean-up and restoration costs relating to the policyholder's property, as well as any loss in the value of the property when sold in the future, following a claim. In addition, it covers all legal costs and expenses incurred in the investigation, settlement, adjustment or defence of any claim.
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Q Does the policy cover claims for third party bodily property damage?
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A Yes, Option 2 includes cover for third party property damage caused by contamination, arising from the insured property, provided the contamination existed prior to the date of commencement of the policy
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Q Does the policy cover claims for third party bodily injury cover?
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A Yes, this can be arranged as an optional extension with an additional premium. For this extension the period of insurance runs initially for 5 years, and can be renewed for a further 10 years, subject to the Insured obtaining a further comprehensive report from Argyll Environmental, Landmark, Groundsure or Renaissance Regeneration
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Q Who does the policy cover?
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A The policy covers the purchaser(s) of the property and automatically extends to cover their mortgagees, lessees, tenants and successors in title, within the period of insurance
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Q Do I need an environmental report before cover can be provided?
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A It all depends on the cover you require.
Our standard cover, Option 1 can be arranged either with or without an environmental report being undertaken.
If you are applying for Option 2, this can be obtained with an environmental report from any report provider.
If you require Option 3, we will require a report from one of the providers listed below.
| Argyll Environmental |
Site Solutions Commercial |
0845 458 5250 |
| Landmark |
Sitecheck Review |
0844 844 9966 |
| Groundsure |
Environmental Review |
01273 819 500 |
| Renaissance Regeneration |
Initial Risk Review |
01284 765 563 |
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Q How is the premium calculated?
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A Our highly competitive premiums take into account a number of factors, including the nature of use of the property, the sections of cover selected, the limit of indemnity and period of insurance requested, in addition to various information contained in the comprehensive environmental reports referred to above
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Q Are there any excesses under the policy?
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A There is a mandatory £5,000 excess under the policy. This can be increased to £25,000 if requested, for a 15% premium discount. If third party bodily injury cover is also selected, there is an additional £25,000 excess which applies to this cover
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Can't find an answer to your question? Please call us on 01603 617 617 or alternatively visit our Contact us page where you can complete an enquiry form.