This information is intended to be a summary of the policy cover. For complete
details of the policy cover, terms and conditions, please refer to the policy
BF&M Home Policy
A Flexible policy for all
your home and contents insurance needs.
With thousands of homes
presently insured, BF&M is Bermuda's
leading home insurer.
As well as providing a fast,
efficient claims service, we are committed to providing the highest standard of
service in all aspects of customer care. As part of this commitment, our plain
English policy is specifically designed to meet the home insurance needs of all
the local community, whether home owner or tenant.
Free of legal jargon and
set out in an easy to read format, you will be able to clearly see what is or
is not covered. For your assistance, we have shown any exclusions in each section
in a different colour. Also, throughout the policy, we have highlighted various
important messages to help ensure that you receive the full benefits of your insurance
protection when you need it most - when you have suffered a loss.
With the flexibility of
a BF&M Home Policy you will be able to select exactly the cover you need.
The following pages provide
a summary of the main features of the cover available under the policy. (We would
be pleased to send you a copy of the full policy wording on request.)
A - Buildings
Protecting a major investment.
Purchasing your home may
be the largest investment you will ever make. You can ensure that your investment
is fully protected by insuring it under a BF&M Home Policy.
In addition to the buildings
of your main dwelling, the policy also covers outbuildings, swimming pool, tennis
court, walls, gates and fences at your home. Cover is included for site clearance
costs, and professional fees which may be incurred to rebuild or repair the property
following a claim.
The policy covers damage
to the buildings by a wide range of causes including fire, lightning, storm, hurricane,
flood, earthquake, leakage of water or oil, riot, malicious persons, theft, falling
trees and impact by vehicles.
Other special features of
the standard cover include:
- Underground services to
your home are insured against accidental damage for which you are responsible.
- Fixed glass and bathroom fixtures are insured against accidental breakage.
- Loss of rent or the cost of renting alternative accommodation following damage
to the home is covered up to 15% of the buildings' sum insured.
- Property Owner's Liability cover up to $500,000 (see page 8 for further details).
- Door Lock Replacement costs up to $500 if you lose your keys or if your locks
You may also extend your
policy to include:
- Accidental damage (for
example hitting a nail through a pipe or drilling through an electrical cable).
- Damage by subsidence or landslip.
- Damage to satellite dishes (satellite dishes and external TV aerials are excluded
from the standard cover).
The cover provided by the policy is broad. However, no insurance company can cover
everything so when you receive your policy, please read it carefully to see what
is excluded. For instance, in common with most other policies we do not cover
windstorm damage to awnings. Damage to docks, piers or jetties are excluded although
we may be able to extend cover subject to some further information. In certain
situations, you will be responsible for the first part of any claim (the excess).
The excesses under the Buildings section are specifically in relation to damage
caused by Windstorm and Earthquake. Damage by Subsidence and damage to satellite
dishes (optional extensions) will also require a contribution to the cost of any
Discounts are available
for significant voluntary excesses.
An added service - assessing
your sum insured.
To ensure that you are fully
compensated when you need to make a claim, it is important that your sum insured
represents the full rebuilding cost of your home, including an allowance for debris
removal costs and professional fees. To assist you in arriving at a realistic
figure, we have produced a handy guide to calculating your sum insured. As an
additional service to you, for no extra charge, we can arrange to measure your
home and provide you with an estimated sum insured based on average rebuilding
costs. We are not professional valuers, however, and any estimate we provide is
for guidance only.
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B - Home Contents
Furniture, TV sets, Audio Equipment and Clothing - protect your entire home contents
under a BF&M Home Policy.
This section of the policy
covers the contents of your home such as furnishings, clothing, personal effects,
kitchen appliances and other household goods. We even cover your pets when they
are in your home and the water in your tank. Insurance is provided against loss
or damage by a wide range of causes including fire, lightning, storm, hurricane,
flood, earthquake, leakage of oil, riot, malicious persons, theft, falling trees
and impact by vehicles.
Other special features of
the standard cover include:
- Liability cover. The policy
covers your legal liability to compensate others for personal injury or damage to their property, whether incurred
as occupier of the home, in a personal capacity whilst anywhere in Bermuda, or
as an employer of domestic employees (see page 8 for further details).
- Property outside the home. Is insured up $250, whilst in the yard or garden
at your home. Contents temporarily removed from the home are covered for up to
15% of the total contents sum insured anywhere in Bermuda. You also have up to
$1,000 in cover for contents that you take overseas on temporary visits.
- Rental of alternative accommodation. If your home is made unlivable due to damage
which is covered by the policy, we will pay the cost of renting alternative accommodation
up to a limit of 15% of the sum insured on contents.
- Credit Cards. Losing your wallet or purse or having them stolen can be a major
inconvenience, especially if they contain credit cards. Wouldn't it be reassuring
to know that you were insured if somebody fraudulently used your credit cards?
This section covers such losses up to $1,000 following the theft or accidental
loss of your credit cards anywhere in the world. Remember to notify your bank
immediately if you lose your card and report the loss to the police.
- Domestic Pet Insurance. In the event of the death of a domestic dog or cat as
a result of any cause insured by this policy, we will pay the cost of replacing
the animal with another of the same breed, sex and pedigree, up to a maximum of
$1,000 any one claim and $2,000 any one period of insurance. Pets not inside the
home at the time of the loss, are not covered.
- Food in Freezer. If your freezer breaks down or if there is an accidental power
failure, you could be faced with a significant expense in replacing the food which
is spoilt. If your freezer is less than 15 years old, then cover is provided against
spoilage of food due to a change in temperature or contamination by refrigerant,
up to a limit of $500.
- Contamination of Fresh Water. The fresh water in your home's water tank can
sometimes be contaminated by salt during a windstorm or flood. We will pay up
to $500 to have your tank emptied and refilled.
- Students Abroad. If a
member of your family who normally lives with you is also a full time overseas
student, we will cover his or her personal effects for up to $1,000 against loss
or damage by the insured causes, up to a $150 limit per item.
- Fatal Accident Cover. If you or your spouse, suffer an injury as a result of
a fire in your home or caused by thieves at the home and the injury proves to
be fatal within three calendar months, we will pay your personal representatives
the sum of $5,000.
- Fixed Glass in furniture is insured against accidental breakage.
You may also extend your
policy to include:
- Accidental damage to TV,
audio, video and computer equipment.
- Subsidence. If you have arranged this cover on your buildings, for completeness,
you may also wish to insure damage to your contents as a result of subsidence
- Satellite dishes. If you own the buildings, you can arrange this cover under
Section A. However, if you are a tenant and have your own satellite dish or external
TV aerial installed, you can extend your contents cover to include damage to such
The basis of the cover for your Contents is Indemnity which means that we may
take wear and tear or depreciation into consideration in settling any claims.
New for Old Cover Option
If you select this option, we will pay the cost of replacing lost or damaged items
as new (except clothing and household linens where a deduction for wear and tear
will be made).
Whichever option you choose, the cost of each $1,000 of cover is the same. When
deciding on a sum to insure, however, it is important to take into consideration
whether you require Indemnity or New for Old cover. Remember, if you require New
for Old cover, your sum insured should represent the cost of replacing all of
your contents as new. Our Sum Insured Calculator includes a checklist to help
you arrive at a realistic figure. Any items which you opt to insure under Section
C - "All Risks" do not need to be included in your sum insured under
the Contents section.
BF&M Home Policy - wide
cover for your
contents - but there are some exclusions.
All insurance policies contain
exclusions. Types of property and events which are not covered are clearly stated
in the policy, a copy of which we would be pleased to supply on request. Amongst
the property excluded are mechanically propelled vehicles (other than gardening
machinery), pets and livestock (except pets when inside your home), securities
Theft and malicious damage cover are excluded if your home has been left unoccupied
for more than 42 consecutive days (though we may be able to continue this cover
on request, subject to certain requirements). Cover for loss of money is limited
In certain situations you will be responsible for the first part of any claim
(the excess). The excesses under the Contents section are in relation to damage
caused by Windstorm and Earthquake. Damage to Satellite dishes (optional extension)
will also require a contribution from you at the time of the claim settlement.
Discounts are available
for significant voluntary excesses.
C - "All Risks"
"All Risks" cover anywhere in Bermuda
or worldwide for your valuables.
This section provides you
with the opportunity to extend the cover provided by the contents section. It
offers wider cover for items which you frequently take out of your home.
You may wish to insure jewellery,
watches, cameras, or your laptop computer. We can insure them anywhere in Bermuda,
or indeed, anywhere in the world. (Evidence of value, such as a receipt or valuation
certificate, will be required for any item which is valued over $1,000.)
For those items of lower value which you do not wish to individually specify,
we have provided the option of insuring a blanket item on unspecified articles.
You may insure up to a total of $2,000 on such articles and, for any individual
item, we will pay up to 15% of the total selected (i.e. a maximum of $300 any
one item, if you opt for the maximum sum insured of $2,000). The unspecified articles
cover does not include computer equipment, musical instruments, contact lenses,
securities and documents, china or other brittle items. Any of these which you
wish to insure should be separately specified.
An excess will apply to each claim for unspecified articles. Articles which you
specify, however, are not usually subject to any excess. Items used primarily
for business or professional purposes cannot be covered under a home policy but
we would be pleased to arrange suitable cover under our business insurance policies.
Any items you insure under this section should not be included in the amount you
select for Contents under Section B.
D - Liabilities
If someone holds you responsible
for their injuries or for damage to their property, you could be faced with a
sizeable claim for compensation, as well as substantial legal fees. As an added
benefit, the BF&M Home Policy automatically provides cover against a variety
of legal liabilities with which you may be faced.
Section A - Buildings is insured
If a visitor to your home or a tenant is injured as a result of a defect in your
property (for example, an uneven step or an insecure railing) you could be held
liable as owner of the building. The Buildings section provides cover for claims
up to $500,000. It can also include legal expenses incurred with our written consent
in defending the claim.
Section B - Home Contents is insured
Contents section also provides protection for claims up to a total limit of $500,000
for the following liabilities, plus, with our written consent, legal expenses
incurred in defending the claim:
- Occupier's Liability.
Accidents can very easily happen, especially to guests - tripping on a rug or
over a child's toy, or slipping in a puddle spilled on the kitchen floor. The
policy covers your liability as occupier of the home for events just like these.
- Personal Liability. This
covers your liability for accidents occurring elsewhere in Bermuda - you could
injure someone with an umbrella or your dog could bite someone. However, this
does exclude liability involving your use of motor vehicles. By law, this must
be covered under a suitable motor policy.
- Employer's Liability.
If you employ maids, gardeners or other domestic staff, you may have to compensate
them for injury suffered in the course of their employment. The policy covers
sums you may be liable to pay under the Workmen's Compensation Act, or compensation
you may be legally liable to pay at common law.
- Tenant's Liability. If
you rent your home, there is up to $500,000 in cover for accidental damage to
that rented dwelling. You will be responsible for the first $2,000 of any claim
under this extension.
SECTION D - LIABILITIES
Section D - Liabilities is insured
The standard cover excludes liability which you may incur as owner or user of
any dock or jetty. However, we may be able to extend cover if further details
are provided to us.
E - Sports
If your contents are
covered by this policy, you will have automatic protection under this section
as well. You will have protection against loss, damage and theft and there is
even cover if you are injured in an insured sporting activity. Here are some of
the main features:
- There are a number of
sports covered - golf, fishing, scuba diving, tennis, cycling, athletics, swimming,
cricket and horse riding.
- Personal sports equipment
and sports apparel (anything from rackets to golf clubs to scuba masks, athletic
shoes to helmets to swimsuits) is insured for up to $500.
- Your personal effects,
such as clothing and accessories, are insured for up to $250 when they are stored
in a locked room or sports locker.
- There are risks involved
in any sport and if your participation in an insured sport results in your death
or permanent disablement, a benefit of $5,000 is payable to you or your beneficiary.
- You are insured not only
in Bermuda, but also on temporary visits to the United States, Canada and the
United Kingdom. Your equipment is even covered in transit.
- There are certain exclusions
under this section of the policy: loss of valuables and money, punctures to cycle
tyres and damage or injury caused whilst racing are not covered, to name a few.
Please refer to the policy for the complete list.
to Arrange Cover
1. Arranging cover
is simple. Having read this guide, you should now have an idea of the cover you
need. Please refer to our sum insured calculator to determine the sums for which
you should insure your property, or call us for advice.
2. The next step is to either complete the enclosed Proposal Form and mail it
to us, come in to our offices, phone us at 298-HELP, fax the form to us at 292-8604
or fill out an
request form .
3. As soon as we have the necessary information, we can confirm cover and the
premium required. Your policy will then be mailed to you with the minimum of delay.
4. When you receive your policy we recommend that you read it carefully and check
that it meets your requirements.
Remember to review
your insurance needs on a regular basis and inform us of any changes. Additional
items which you acquire and the effects of inflation can soon lead to your original
sum insured becoming out-of-date. The ideal time to review your cover is prior
to renewal each year.
Service to You
aim is to provide you with the quality of service you expect in terms of the cover
provided and especially in dealing with any claims that you make.
To assist you when you need to make a claim, the policy provides a step-by-step
guide to the procedure involved.
We welcome suggestions from customers which could help us to improve our service.
If you are dissatisfied in any way with the service which you receive, please
let us know and we will do all we can to help remedy the situation.
The BF&M Insurance Group is a full service insurer and we would be pleased
to assist with your other personal insurance needs such as:
- Personal Accident
- Life and Pensions
If you would like to discuss
your business or professional insurance needs, we can arrange for one of our experienced
commercial insurance specialists to call on you at your convenience. Please contact
us by calling 295-5566 or faxing enquiries to 292-8604, or fill
out an information
request form .