The Indemnity Top-up policy provides cover when additional financial cover is needed to supplement the limit of indemnity given by an existing GCS 'Instant Issue' policy. This might be required when the market value of a property covered by a GCS 'Instant Issue' policy has increased beyond the limit of indemnity provided by that policy.
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Key Features and Benefits
If a policy-holder makes a claim on his or her existing GCS 'Instant Issue' policy, he or she is entitled under the terms of that policy to be indemnified for loss up to the amount of the limit of indemnity stated in the policy.
If the value of loss is established as being greater than the limit of indemnity under the existing GCS 'Instant Issue' policy, the policy-holder can claim on the Top-up Indemnity policy for the additional loss that he or she has suffered, up to the amount of the Top-up Limit of Indemnity.
The type of loss which can be claimed under the Top-up Indemnity policy is the same loss for which indemnity is provided by the existing GCS 'Instant Issue' policy.
The policy does not cover any cause or event which is not covered by the existing GCS 'Instant Issue' policy.
The policy automatically covers subsequent owners of the property and mortgage lenders, and remains in force from the day you issue it without any time limit.