GLOSSARY

An irreversible loss of the bodily function which renders a person unfit for any kind of profession or post.

A document which certifies that one or various people have the faculties or powers to issue certification about third parties or companies to the Administración Nacional, Autonómica o Regional [National, Autonomic or Regional Administration], as well as their Autonomous Bodies and Public Enterprises. We have this certification for all of the public bodies in Spain.

A company’s property assets.

Special coverage which bears the expenses associated with maintaining the original aesthetic or uniform aesthetics. For example, if some tiles need to be chipped in order to repair a water leakage, and these tiles are no longer sold, we at Caser will be responsible for completely replacing the tiles in the damaged room in order to maintain aesthetic harmony.

This is the value agreed upon by both parties, after having completed a study and accreditation of the object to be valued.

An economic guarantee of repaying debt to their creditors, in the event that a company bed declared bankrupt.

Housing protection by means of bars on windows, safety shutters made out of wood or glass on all access points of the property, located both outside and inside the housing.

A natural person designated by the Insured Party to receive benefits derived from the insurance policy in the event that damage or loss occurs.

Housing constructed with completely incombustible materials in enclosures, structure and covered in bricks, stone, tiles or concrete.

Someone who uses human resources and materials to carry out the work pertaining to the project and the contract.

Any natural or legal people involved in the building process.

Companies which provide technical support to the project management team by verifying the quality of the project, the materials and the construction implementation.

If, when the claim is made, an Over-insurance on the HOUSING or FIXTURES exists, the corresponding premium may be applied to increase the insured amount of the asset which is found to be insufficiently insured. This compensation will only be applied to the Housing or Fixtures capital corresponding to the same housing.

Consists in the Policyholder failing to fulfil their contractual or legal obligations in regards to the insured party and in the consequent claim for compensation payment.

Once the tender has been granted to the Company, the Administration will request a definitive certificate which certifies that the Company selected, will fulfil the contract in time and in an appropriate manner.

Central de Información de Riesgos del Banco de España [Bank of Spain Risk Information Centre] (CIRBE). A public service which manages a database containing practically all loans, credits, endorsements and risks in general that financial institutes have with their natural or legal customers.

This is the town centre of a municipality made up of at least 50 dwellings and/or 500 inhabitants.

In general, this is the obligation that a person has to repair the damage or harm done to another person as a consequence of an action or omission in which there is some kind of culpability or negligence, performed either by them or a third party for whom they are responsible. It is regulated in Article 1.902 of the Spanish Civil Code.

Generally understood to mean the action and effect of one claiming, demanding or asking for what legally corresponds to them.

An agent who, within the Project Management team, directs the construction’s material implementation and checks the built construction for quality.

A member of the Project Management team, who guides the construction’s development in technical, aesthetic, urban and environmental matters.

The main obligation of the Insurer in an insurance contract is to be consistent in dealing with the economic consequences caused by loss, within the insured amount. This is synonymous for ‘warranty’.

Free-standing housing used exclusively by the Insured Party which shares no walls with any other building, although it may share barriers, fences or hedges.

A natural or legal, public or private person who, either as an individual or in a collective, decides, drives, programs and finances building construction.

The integrated assembly of channelling, structures, conductors, accessories and devices which enable electrical energy to be provided to the property in order to supply the appliances that require electricity to function.

If, at the time of loss occurring, the premium for this policy that has been paid is less than the amount which really corresponds to it, due to an inexact declaration of the risk information or because a deterioration in the risk has not been correctly communicated, the compensation will be reduced in proportion to the difference between the net premium covered and the correct amount.

Group of more than 50 dwellings which, although not in the city centre, make up an aggregate and have the following public services available: lighting, water, sewerage, and telephony. Groupings of less than 50 dwellings, but which have 24-hour security guards, will be considered an urbanisation for the purposes of this policy.

Quantity for which the insured person insures their own risks and by virtue of which, in the event of an accident, will use the assets to bear the cost of the corresponding damages.

Civil liability for acts committed in one’s private life.

All of the goods belonging to the Insured Party, their family members and other people who typically live in the insured property. Jewellery and objects of special value, if you have included them, also fall under Fixtures Capital.

Group of walls, roofs, floors and fixed installations such as heating, water, gas, electricity, sanitary facilities, etc.

This is the transitory period during which neither the Insured Party, nor those people they live with, stay overnight in the insured housing.

Housing belonging to the Insured Party that has been loaned to third parties by virtue of a rental contract. Free transferral to third parties is considered to be similar to renting.

Structures of a technical nature which are used in engineering works, such as those which support the construction of a tunnel, the repairs of a chimney in a factory, etc. or even the series of machinery, equipment and devices in an industrial type of installation. In both cases, the industrial mounts may be the object of study of the design, supervision, construction service tests or maintenance works.

This is equivalent to “Insured Capital”. The value attributed by the Policyholder to the insured goods and which represents the maximum limit of compensation for CASER to pay in the event of loss and should correspond to the economic loss assumed due to the loss.

The natural or legal person who owns the goods exposed to risk.

This is a synonym for an insurance company or any entity dedicated to covering risk. For Online Home insurance, this is CAJA DE SEGUROS REUNIDOS, Compañía de Seguros y Reaseguros, S.A., -CASER.

Incompetence, lack of skill. When a person lacks sufficient ability.

Costs which emerge as a consequence of a process culminating in a trial.

A natural person who, in exchange for rent, enjoys the use of a house.

The owner of the house who, in exchange for rent and by way of a written rental contract, surrenders the use of their property to a third party.

Sites that are divided into bedrooms and used as housing. Dwellings that comply with the necessary living conditions will also be accepted within this insurance class, although they legally have a different use.

The action of rectifying the loss or damage caused by an object belonging to a group and which constitutes a unique artwork, such as an array of Byzantine jewellery or a porcelain tea set from the British Empire, etc. This does not imply that one is to be held liable for the depreciation suffered sue to theses combined damages.

A legal term which obliges a company or entity to ‘take care’ or be aware of what may happen as a result of their activity and which may consequently cause serious harm to third parties.

This occurs when the insured amount significantly exceeds the new value of the insured goods.

This is a collection of all aspects specifically relating to the individualised risk insured. In particular, it will contain the following:

• Name and address of the contracting parties and the Insured Party’s designated beneficiary, if applicable.
• Type of risk insured.
• Designation of insured objects and their condition
• Insured amount or scope of the coverage.Amount of the premium, extra charges and taxes.
• Premium due date, as well as place and method of payment.
• Contract duration, expressing the effective start and end date.

Any information referring to identifiable natural people: Name and surnames, address, telephone number, ID Card, Social security number, photos, signatures, e-mail addresses, bank details, age, date of birth, sex, nationality, etc. That is to say any information which allows one to identify a determined person.

An agent who reports to the developer and draws up the project, subject to the technical and urban regulations.

The agreement through which one of the parties, the Insurer, is obliged to make amends for any damage or pay an amount of money to the other party, the Policyholder, when an eventuality foreseen in the contract is verified to have occurred This service is rendered in return for the Policyholder paying a price, called a premium. Provided there is insurable interest, all class of risks may be covered by the contract, except where expressly prohibited by law.

This is the natural or legal person who enters into the insurance contract and on whom the responsibility of paying the premium falls.

The price of the insurance.

Manufacturers, warehouse people, importers and vendors of construction products.

Any person whose work entails driving a vehicle, whether for transporting goods or people:

• Any employed driver who earns their income from driving vehicles.
• A driver/owner dedicated to transporting stock, whether belonging to them or others, or the Public Services.
• Anyone who does not satisfy these conditions will be considered non-professional drivers.

The cost of constructing the property in a new state at the time of loss, without applying depreciation.

Civil responsibility whose origins are in the property that is the object of the insurance.

The acceptance that each of the capital proposed by CASER entails a derogation of the proportional rule in the instance of a loss. If the underinsurance is less than 30%, CASER will also renounce the application of the proportional rule in the event of loss.

A box made out of mild steel and concrete, weighing more than 100 kilos and either embedded or pinned into fixed components of the construction. They have safety locks and a combination and are built with materials resistant to breakage, penetration and fire.

Safety glasses are understood to mean a pair of at least two eyeglasses that are each 4-mm thick and joined together by a sheet of polyvinyl butyral or another similar material.

A property used sporadically, for weekends, holidays or any other duration periods of less than 6 months.

Any accidental act whose damaging consequences are covered by the policy.

Registered vehicles owned by the Policyholder which are found within the insured facilities for the purpose of exhibiting and selling the vehicles.

Solid wooden doors that are more than 45 mm thick and which have steel armour of 0.8 mm on each side. In the instance of metal doors with a thickness larger than 45 mm, they are to be comprised of two steel sheets each thicker than 1.5mm, joined together by means of metallic edges welded into each other. Both types of door will have a safety lock and the frame needs to be duly reinforced.

Housing exclusively used by the Insured Party and joined to other houses with which is shares side walls.

A loss of bodily functions which renders a person permanently incapacitated, and causes them to require another person to assist them in perform their essential everyday tasks, such as dressing, getting around, eating, etc.

Spare parts and accessories: pieces, spare parts, packaging and auxiliary products for cars which belong to the insured activity and are used for repairs or sale.

Should the Administration advance you funds in order to acquire necessary machinery or materials, you will be called upon to submit an endorsement for 100% of these advancements. This endorsement will be cancelled once it has been proven that the advanced funds have been applied to a measure which progress the contract.

The quantity limit for coverage which is less than the insured quantity limit. For example, if the insured total is €200,000, you may have sub-limit of €20,000 on one coverage, such as Legal defence, meaning that the insured costs for Legal Defence can be no more than €20,000.

A property located outside the city centre which is not part of any urbanisation.

Any natural or legal person distinct to the Insured Party or Policyholder. For the purposes of the insurance scheme, neither those that live with the Insured Party, nor their family members up to the third degree of consanguinity or affinity, will be considered third parties.

Vehicles registered under the names of people different to the insured person and which fall under the insured facilities for the purpose of being repaired or having some work performed on them.

An irreversible loss of the bodily function which renders a person unfit for their profession or usual work position, but which may take up a different profession.

This occurs when the INSURED AMOUNT is lower than the VALUE AS NEW of the insured goods.

Housing which is not the main residence, nor the secondary house of the Insured Party, nor is it acquiesced to people other than the Insured Party.

Paying the amount of the Warranty as a consequence of claiming on behalf of the Insured Party.