"Insured parts mean the engine block and cylinder head, or any mechanical or electrical part contained within the engine block or
cylinder head that needs replacing as a direct result of the unexpected failure of the vehicle timing belt or timing chain."
"We will pay towards the cost of repairing or replacing the insured parts on the vehicle, up to the maximum claim limit, following the
sudden and unexpected failure of the timing belt or timing chain."
So ironically it looks to me like you will foot the cost of the timing belt kit and fitting.
"You must look after the vehicle and have your timing belt checked and / or replaced as recommended by the manufacturer's
servicing handbook. To prove this, you should make sure the garage fills in and stamps the handbook. You should also keep the
invoices from services as you must provide proof of the timing belt being checked and / or changed if you make a claim."
They could be awkward here 'as recommended by the manufacturers servicing handbook' reads to me as main dealer which could be twice the price of an indie garage. They could easily be sticky on this and not pay out. I can't find a single reference on any forum I know to someone actually making a claim.
Interestingly the AA says cam belt failure – average claim = £130 which sounds like total bull or they just dont cover anything.