Policy cover
An innovative solution to the threat of contaminated land
With three competitively priced policy options, Terraffirm offers an innovative solution to the threat of historical land contamination for existing commercial properties. You simply choose the level of cover to suit your clients' requirements.
Option 1 - Standard cover
Our cheapest policy option can be arranged either with or without an environmental report being undertaken. It provides cover for all 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.
Option 2 – Intermediate cover – including third party property damage
In addition to the cover outlined in Option 1, 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 and a legal liability is established.
Within Option 1 and Option 2, certain elements can be tailored to suit your individual requirements including:
- Period of insurance – while the standard period of insurance is ten years, Terraffirm offers the option to extend the period to fifteen years for an additional premium.
- Policy excess (available with Option 2 only) – the standard Terraffirm policy excess is £5,000. Increasing this to £25,000 will reduce the policy premium by 15%.
Option 3 – Comprehensive cover – including third party bodily injury
For clients who require comprehensive cover, Option 3 contains all the benefits of Options 1 and 2, and in addition, covers third party bodily injury caused by historical contamination originating from the policyholder's property. The third party bodily injury element of the cover is available for five years, with the option to renew at the end of this period for an additional ten years.
Please note, this option is only available if the application is supported by 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 |
Key benefits at a glance:
- The policyholder can make a claim on the policy immediately the local authority begin investigating the property
- Covers all clean-up and restoration costs plus any shortfall in the market value of the property when sold in the future, following a claim on the policy
- Choose cover for third party property damage risks, together with third party bodily injury as optional extensions
- All policies automatically cover not just successors in title, but also lenders
- Extremely competitive one-off premiums
- Flexible policy options including 10 or 15 years period of insurance
- Clear and concise policy wordings