Business Insurance

Waste Warranty

By November 17, 2017No Comments

What is a waste warranty and how does it affect my insurance policy.

Insurers will apply waste warranties to policies where they feel that housekeeping of the premises is fundamental to the insurance of the risk, its acceptability and the premium rating. Waste warranties can be found in policies for a wide range of businesses and activities including retail, manufacturing and wholesale.

A typical waste warranty will state “It is warranted that trade waste is to be swept up and bagged or binned daily and removed from the premises at least once a week.”

It is essential that you comply with all policy warranties, breach of a policy warranty entitles an insurer to avoid a policy, irrespective of whether the breach is material to any claim.

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