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Alarm Warranty

Alarm WarrantyDo you understand what an alarm warranty is?

Commercial insurance policies, whether a factory unit, office or a shop, will often have an alarm warranty or condition.  Understanding what this means and what can happen if you do not meet the condition/warranty is essential.

An intruder alarm warranty may be added to a business insurance policy by the insurance company depending on the value of stock or equipment at the premises. An intruder alarm warranty is an extremely important term that is sometimes included in an insurance policy wording.

It is basically a statement explaining that an intruder alarm, approved by the insurance company, must be in operation at the premises in question when they are closed for business, or left unattended, and that this alarm is to be kept in good working order and regularly tested. A breach of an alarm warranty could invalidate an insurance claim.

If for any reason your alarm is not operating correctly or fails to set when you are leaving the premises you must immediately contact your alarm servicing company. You must not leave the premises unattended until the alarm has been serviced and repaired.

You may have a member of staff who can stay on the premises or you can contact a local security company to provide a guard during the period the premises are closed up.

Even if the insurers are notified they will still apply the alarm warranty and decline a claim for theft.

If for any reason the alarm is not operating for a period of time the insurers can be approached but this must be in time for them to respond and they may apply a co-insurance condition should a theft occur where the insurer and the insured share any claim.

Contact David Walton or Amanda Hemmings directly on 01707 883377 or email us on to discuss or visit our small business page here


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Changes to the Rate of IPT (Insurance Premium Tax)

In the 2010 emergency budget, IPT was increased from 5% to 6% in line with the increase in VAT.  The increase will take place on the 4th January 2011.  It is currently estimated that IPT will raise £2.3 Billion in tax per year.  It was feared by the insurance industry it could be doubled to bring it in line with other European Countries, where the average is 10%.  However, in Germany it is 19% and Italy 22%.  There are some exemptions in the payment of IPT, for example, commercial goods in international transit and risks located outside the UK.

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