Highest court in the UK. It is the Supreme Court of Appeal from the Court of Appeal in England and the Superior Courts of Scotland and Northern Ireland. Appeals are heard by the Appellate Committee, which usually consists of five, or three, Law Lords. They give written judgments. Since its Practice Statement in 1966 it is not bound by its previous decisions, but they do bind the lower courts.

Life insurance is used in connection with house purchase but endowment mortgages are no longer popular. The homeowner bought a policy (sum insured equal to mortgage debt) to run parallel with the mortgage, paying interest and premiums until, on death or maturity, the policy proceeds repaid the loan. The ‘low cost endowment’ used an endowment with profit policy with a sum insured below the mortgage amount in the expectation that bonuses would accrue sufficiently to produce a full repayment. Any shortfall due to premature death was covered under a decreasing term policy. The underperformance of many endowments are leaving housebuyers with a debt at the end of the term, leading to accusations of mis-selling.

Recognised index of changes in the cost of rebuilding houses produced by Building Cost & Information Service Ltd of the Royal Institute of Chartered Surveyors. It is used by insurers of buildings under household insurances as the basis of automatic increases in the sum insured on renewal where the policy concerned is subject to indexation.

The term, according to the decision in Oldfield v. Scott and Jackson (third party) (Oldham County Court, 24 July 2002), refers to persons with whom the policyholder normally resides at home. Miss Oldfield’s injury was caused by her holiday companion, Scott, who arranged travel insurance that excluded claims by members of the insured’s household. Oldfield did not reside with him and was not therefore a member of his household. The insurer could not benefit from the exclusion. The term is defined in some policies.

Most insurers allocate fixed or maximum sums insured that are usually index-linked. Cover may be on an accidental basis in respect of buildings, outbuildings, etc. Additional coverage areas include: alternative accommodation following insured damage; trace and access faults; lock replacement; property owners’ liability; emergency repairs. There will invariably be an unoccupancy clause.

Contents are defined and can be insured ‘new for old’ or on an indemnity basis against named perils or against ‘accidental damage’ basis. Sums insured are fixed at the outset but index-linked. There is limited cover for contents in the open and theft from outbuildings. Additional coverage areas include: alternative accommodation; loss of water; freezer contents; temporary removal; business equipment; personal liability; occupiers’ liability; employers’ liability for domestic employees. The policy contains an unoccupancy clause. High risk property is subject to an inner limit sum insured and a single article limit.