Have you been affected by riots?

With unrest circulating around the UK this year, it is more important than ever to check your insurance policy. If you have any property including, a house, business or car which could be affected, or has been affected by the riots you might be wondering if your insurance will cover you.

A notable instance of insurance covering riot damage comes from the  August 2011 London riots, when insurers reported paying out £200 million to customers who had faced damage to property during the unrest.

 

Insurance cover for property

Riot coverage should protect property owners from significant financial loss due to civil disturbances which includes damage or theft in the course of a riot.

If you own a business which is damaged in the course of a riot you should file a claim to your insurer as quickly as possible. Under ‘protection of property’ coverage, businesses should be able to recover costs spent to relocate the contents of a property, or vehicle for protection prior to any riot action reaching the location of the business.

Most property policies will cover businesses for any loss of income due to theft or damage to the business caused by vandalism or riot acts. This covers the business whilst any repairs and replacements occur. There is typically a 72 hours waiting period for this coverage.

 

Will my Car Insurance cover the damage?

If you have fully Comprehensive car insurance will cover you for any damage caused, fire or theft. This policy is most likely to give you the protection you need if you are worried about riot action.

 

What if my insurance doesn’t cover the damage?

If your insurance does not cover the damage suffered due to riots then the government should compensate you. This was laid out in the first set of legislation, The Riot (Damages) Act of 1886. This act mandated that the government provide financial compensation to those who had business affected by riots if their insurance failed to cover the damage.

As necessary, an updated legislation was created, The Riot Compensation Act of 2016 to ensure property owners were protected. This act modernised the original principles from 1886.

 

The Riot Compensation Act of 2016

If your property has been impacted by riots, resulting in damage or theft then it is vital to seek compensation through your insurance policy first.

Now, in instances where insurance is either non-existent or insufficient to cover the full extent of the damage you are entitled to pursue compensation under The Riot Compensation Act.

Business owners can receive compensation for damaged or stolen items that were stored in vehicles, damage done to stock-in-trade vehicles and underinsured vehicles.

Property owners can claim compensation for any structural damage inflicted on their buildings. Tenants are eligible for any personal contents that have been damaged or stolen in the course of a riot.

By seeking cover through your personal insurance policy as well as, The Riot Compensation Act of 2016 those affected by any civil unrest should be able to find comprehensive financial protection.

To ensure you have the best protection against damage from riots keep your insurance policies updated and search for the best cover.

 

3 Insurance companies which can give you full protection

  • LV will offer you Comprehensive Car Insurance, covering you from damage, vandalism, theft and fire due to a riot.
  • NFU Mutual insurance will cover your business with extra coverage you can add on including damage toward your business, loss of income and theft.
  • Direct Line state their coverage includes damage in the event of riots or civil unrest as well as malicious acts towards the business property.