BrightHouse Product Insurance Cover from Caversham Insurance (Malta) Limited

Statement of Demands and Needs

Your hire purchase agreement with BrightHouse requires you to keep your goods insured at all times against loss or damage caused by fire, theft or accident.

You may already have such cover under a household contents or other insurance policy or be considering buying one elsewhere. As an alternative for those who don't already have such cover, Product Insurance Cover has been designed to be appropriate for any customer who enters into an agreement with BrightHouse and who needs cover against loss arising from the theft of those goods or any loss or damage to them caused by fire or accident.

Product Insurance Cover will not be appropriate for anyone who requires cover for any goods other than those provided by BrightHouse under its hire purchase agreement with you.

Key Features

Insurer

The insurance is provided by us, Caversham Insurance (Malta) Limited. We operate in the UK through (and are a wholly-owned subsidiary of) Caversham Finance Limited, trading as BrightHouse, who are also the provider of your hire purchase goods. Caversham Finance Limited’ address is 5 Hercules Way, Leavesden Park, Watford, WD25 7GS. Registered in England 785922. Our head office is at Development House, St Anne Street, Floriana FRN 9010 Malta.

Caversham Insurance (Malta) Limited is authorised by the Malta Financial Services Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request.

Type of Insurance

Clause 9(a) of the hire purchase agreement with BrightHouse contains an obligation to keep the relevant goods insured at all times against loss or damage caused by fire, theft or accident. You may have, or be thinking of buying, a household contents or other policy that will do this. As an alternative, the Policy is available and provides cover for loss arising from the theft of your hire purchase goods or any loss or damage to them caused by fire or accident. It does not provide cover for anything other than hire purchase goods provided by BrightHouse.

Significant features and benefits

The Policy provides the following features and benefits:

No policy excess

Provides cover for theft, provided a valid police report is produced (Crime Reference Number)

Provides cover for any loss arising from the theft of your hire purchase goods or damage to them caused by fire or accident

Portable electronic equipment hire purchase goods are covered when temporarily removed from your premises - provided the goods remain in England, Scotland or Wales

Significant or unusual limitations or exclusions

Significant Limitations	Policy Condition
With the exception of portable electronic equipment (see above), cover applies only where the hire purchase goods are: Kept in your premises (i.e. the premises at which they are installed in accordance with the hire purchase agreement); Or In transit and in your custody between a BrightHouse store and your premises and in the locked boot of your vehicle.	B
Significant Exclusions	Policy Condition
With the exception of portable electronic equipment (see above), cover applies only where the hire purchase goods are: Normal wear and tear or gradual deterioration; Any process of renovation or repair; Climatic conditions, storms, flood, civil commotion or war; Dismantling in whole or part, or any repair attempted by any person other than a Technician Commercial use; Wilful acts or neglect or misuse; - Using the product outside of the manufacturer's specifications and design. The Policy only covers loss or damage caused by accident, fire and theft; it does not cover goods which are lost for any other reason i.e. goods which have been misplaced and can no longer be located.	F(1)
The insurance will not cover a Failure or the cost of routine maintenance.	F(2)
The insurance will not cover any theft of hire purchase goods from your premises unless there is evidence of forcible or violent entry to your premises.	F(3)
The insurance will not cover damage to compact discs, DVDs and any device which stores data electronically.	F(4)
Except for portable electronic equipment (see above), the insurance will not cover the hire purchase goods at any time when they are located within a temporary building, site, hut, tent, boat (including a narrow boat), caravan (whether mobile or fixed site) or mobile home.	F(6)

Duration

Your Policy will be in place whilst you continue to pay the required premium - renewing each week - until the earlier of:

Your hire purchase agreement ending;

Or

You or us cancelling the policy.

Regarding cancelling the Policy:

We can end the Policy by giving you 30 days' prior written notice;

Or

You can end it by writing to or telephoning your designated store or BrightHouse’s Customer Relations Department on 0800 526 069.

The Policy will lapse and will cease to provide any cover if you do not pay the required premium (see below).

Cost

The Policy is provided at the weekly premium specified in the Policy and your hire purchase agreement. This is payable to BrightHouse as our agent, alongside your hire purchase payments.

Cancellation Rights

You have the right to cancel the Policy without giving any reason and have 14 days from the date you sign the Policy in which to exercise this right. There is no charge for doing so and if you decide to cancel the Policy within the 14 day period any premiums you have paid during that time will be refunded in full provided you have not made any claims during that period.

You also have the right to cancel the Policy at any other time by giving oral or written notice; again, there is no charge for doing so and no refund will be given.

Your Policy Terms and Conditions explain how to exercise your right to cancel. They also explain that you are required to keep your hire purchase goods insured at all times during the term of your hire purchase agreement against loss or damage caused by fire, theft or accident and so, if you cancel and intend to continue your hire purchase agreement, you will need to arrange alternative insurance.

How to make a claim and how a claim is settled

If you need to make a claim, you should contact the BrightHouse store at which your hire purchase agreement is administered. Clause 12(a) of your hire purchase agreement sets out details about claims.

You should note that if the hire purchase goods have been stolen or have been damaged beyond economic repair, we shall make a payment equal to the amount of loss suffered by BrightHouse direct to BrightHouse, not to you. BrightHouse will then use that money towards replacing the goods with goods of an equivalent age and general (or better) specification. These replacement goods will then be provided to you and your hire purchase agreement will continue as normal.

If some other kind of damage has occurred to the hire purchase goods then we will arrange for the services of an approved Technician to repair the damage.

How to make a complaint

If you wish to make a complaint, you can contact a BrightHouse store or telephone the BrightHouse Customer Relations Department on 0800 526 069.

If you remain dissatisfied with our response, you may be able to refer your complaint to the Financial Ombudsman Service - the address and contact details for which are provided in clause I(2) of the Policy.

Following the complaints procedure does not affect your legal rights.

Compensation scheme

We are covered by the UK Financial Services Compensation Scheme (FSCS). If we are unable to meet our obligations, you may be entitled to compensation – if so, 90% of your claim would be met by the Scheme. Further information is available from the FSCS at www.fscs.org