Our Status and the Services Provided
We are an insurance broker which arranges policies through a panel of leading insurers
and intermediaries. Please note that for certain products we use only one insurance
company. Our service includes advising you on your insurance needs, arranging your
insurance cover, and helping you with ongoing changes. We can also assist you with
making a claim.
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The capacity in which we are acting
We act as your agent when sourcing a suitable policy, placing the insurance and
in the event of a claim, unless the insurance is arranged under a delegated binding
authority where we act as an agent of the insurer when placing the business.
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Our Remuneration
If you are regarded as a commercial customer (your policy has been purchased for
your trade or profession) you are entitled, at any time, to request information
regarding any commission which we may have received as a result of placing your
insurance business.
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Disclosure of Information
It is your responsibility to provide complete and accurate information to your Insurers
when you take out your insurance policy, throughout the lifetime of the policy,
and when you renew your insurance. Any information, which might influence your Insurer
to accept, amend or decline your insurance proposal or renewal, must be disclosed.
If you are unsure about disclosing any matter please contact us for guidance. Failure
to disclose any material information to your Insurers or any inaccuracies in the
information given could invalidate your insurance cover and mean that part or all
of your claim may not be paid. Any advice we offer will be based on the details
you provide. Always keep copies of correspondence sent or received concerning your
insurance. You are reminded that it is an offence under the Road Traffic Act to
make any false statements or withhold any relevant information to obtain a Certificate
of Motor Insurance. Please note that under the Rehabilitation of Offenders Act 1974
you are not required to disclose convictions regarded as spent.
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Proposal Forms
It is important that you ensure that all statements that you make on a proposal
form are full and accurate. All answers on proposal forms and statement made to
your Insurers, either in your handwriting or pre-printed, are your responsibility.
When a policy is taken out we will send you a copy of your proposal form or statement
of fact, which shows the information you have supplied. If you ask us to amend any
answer, or add additional information we will send you a copy of the revisions.
You will have the opportunity to correct amendments. Sample policy wordings are
available upon request.
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Awareness of Policy Terms
You should read your policy carefully. The document, schedule and any Certificate
of Insurance are the basis of the cover you have purchased.
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Our Remuneration
If you are regarded as a commercial customer (your policy has been purchased for
your trade or profession) you are entitled, at any time, to request information
regarding any commission which we may have received as a result of placing your
insurance business.
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Road Traffic Act
Customers are reminded that it is their personal responsibility under Road Traffic
legislation to ensure that before using or permitting the use of a vehicle on the
public highway, they are in possession of a current valid Certificate of Insurance
or cover note.
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Data Protection Act
Any information we hold about you, whether on our computer system or on paper files
will be treated as private and confidential. We will use and disclose the information
we have in the normal course of administering or arranging cover on our insurance
policy. We may also, on occasion, use the details we hold about you within our associated
companies or pass them to Third Parties so that we may tell you of new products
and services which we think may interest you, by telephone, email or post. If you
do not wish to receive any marketing information, please write to us and we will
mark our records accordingly. Under the Data Protection Act 1998 you have rights
of access to any personal information we hold about you in our records. If you have
any queries in respect of confidentiality and Data Protection please contact us.
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Motor and Home Insurance Anti-Fraud Registers
Insurers share information with each other via the Claims and Underwriting Exchange
Register and the Motor Insurance Anti-Fraud and Theft to aid the prevention of fraudulent
claims. In the event of a claim, the information you supply on the claim form, together
with any other information relating to the claim, will be put on the registers.
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Motor Insurance Information Centre (MIIC)
Insurers are legally required to provide details of motor insurance policies to
the MIIC. The information describing your insurance cover will be added to the Motor
Insurance Database, to which the policy and other government agencies have access.
This helps the pursuance of claims following accidents and aid detection of those
who are in contravention of the law by not taking out insurance.
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Service Standards
It is our intention to provide you with a high level of service at all times. In
the unlikely event that you should have cause for complaint, you should write to
the Managing Director at the address shown above. We will acknowledge receipt of
your complaint in writing, within 5 working days and provide you with a full written
response within 20 working days, or explain the current position and provide you
with a timescale for a full response. We will endeavour to provide you with a final
response within 8 weeks. If you remain dissatisfied with our response to your complaint
you may be able to refer the matter to the Financial Ombudsman's Service. To use
their service you must be eligible and your complaint must be sent to them within
6 months of our final response letter. Full details of our complaints handling procedures
are available upon request.
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Administrative Charges
In addition to the premiums charged by Insurers, we make charges to cover the administration
of your insurance:
- Annual policy arrangement charge of no more than 25% of the Insurers premium (minimum
charge of £50.00 may apply)
- An administration fee of £15.00 will apply to all direct debit agreements
that are cancelled due to a default or non-payment
- A handling charge of 2% will apply if payment if payment is made by Credit Card
- Mid Term Alterations - £22.50 plus commission claw-back
- Duplicate Documents - £22.50
- Cancellations - See below
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Cancellation of Insurance Policies
- Where cancellation rights exist - If you are an individual or sole trader (including
a partnership in England and Wales) buying or renewing a policy which provides cover
for you in both a private and business capacity, you have the right to cancel your
policy during a period of 14 days either from the day of purchase of the contract
or the day on which you receive your policy documentation, whichever is the later.
When renewing an existing policy, the period applies from the date you renew the
policy or the day on which you receive your policy documentation, whichever is the
later. If you exercise this right and the cover has not yet commenced, you will
be entitled to a full refund of the premium paid. If the insurance has commenced
and provided that you have not made a claim, you will be entitled to a refund of
the premium paid, subject to a deduction for the time that you have been on cover
(calculated as a proportion of the annual premium) and up to £75.00 cancellation
admin charge. To exercise your right to cancel, please contact this office at the
address shown. You will be required to return any Certificate of Motor Insurance
immediately.
- Where cancellation rights do not exist - Unless otherwise stated, insurance policies
are arranged for a period of 12 months and you are required to pay the full amount
stated. If you cancel the insurance before the expiry date, (other than in accordance
with paragraph (1) above) and there have been no claims, you may be charged short
period rates in accordance with the scale of charges detailed by your Insurers Terms
and Conditions, shown in your policy document. In addition there is a cancellation
charge of £75.00. Also we do not refund commission or charges as this was earned
for arranging the policy. Policyholders may cancel annual policies on return of
the policy and / or Certificate of Insurance. The cost of add-on products that you
purchase (e.g. Legal Expenses) will be non-refundable (other that in accordance
with paragraph (1) above). If there are any unpaid monies when the policy is cancelled,
we may withhold documents such as any no claims bonus to which you are entitled,
until full payment is made. If you paid the premium by instalments the credit charges
made by the premium finance provider will not be refunded.
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No Claims Bonus
If you are unable to supply your previous Insurers name, policy number and expiry
date during the sale of your policy, you must provide written evidence within 14
days. Failure to provide evidence within this period will result in Insurers issuing
the policy at the gross premium (i.e. without benefit of the discount) or the policy
being cancelled. You will be immediately responsible for the balance of premium
payable and any subsequent cancellation will be calculated on the gross premium
and subject to period rates and charges as above.
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Payment of Premiums and Refunds
Unless otherwise agreed and formalised by a premium instalment plan, all premiums
are due on the day cover is arranged, the date the policy is due for renewal or
the date of any mid-term-adjustment.
If we arrange an instalment plan for you, an administration charge will apply as
follows:
- £20.00 if 10 or 12 monthly payment option
- £30.00 if 2 or 3 monthly payment option
We will pay the premium to the Insurer and you will be responsible for paying the
instalments as they fall due. In the event of any due payment not being made, you
will be sent a 7-day cancellation letter by recorded delivery. If the monies are
not received in this timescale, the policy will be cancelled and all cover will
cease. Any refund provided by the Insurer, after deduction of the charges shown
above, will be used against any outstanding balance on your instalment plan. We
may keep certain documents such as your Certificate of Insurance whilst we await
full payment of the premiums. In these circumstances, we will ensure that you receive
full details of your insurance cover and will provide you with any documents you
are required to have by law. We will not accept responsibility for cancellation
of insurance by Insurers due to late or non-payment of premium by customers. Instalment
deposits, legal expenses and breakdown or associated policies are non-refundable.
All refunded premiums will be made by cheque, payable to the policyholder.
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Quotations
When a quotation is provided the premium is only valid for the period advised to
you. Quotations provided by the company do not constitute offers. All proposals
and requests for insurance are subject to acceptance by Insurers, premiums and terms
are quoted subject to confirmation and agreement by Insurers. Your Insurer has the
right to decline your risk, increase the premium or restrict the policy if any errors
or omissions are found on the proposal or statement of fact.
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Withholding Documents
We reserve the right to retain certain documents until payments due have been made
and any cheques cleared. We will provide any documents you are required to have
by law.
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Risk Transfer
Premiums that we collect from you are held in an insurance broking bank account
specifically for the purpose of holding client money. By virtue of agreements held
with Insurers, we collect premiums as agents of the Insurer. Therefore, once we
have collected the premium from you, under the terms of our agreements with Insurers,
those premiums are treated as having been paid to the Insurer. We will remit premiums
to Insurers in accordance with our agreements with Insurers.
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Client Money Segregation
Premiums that we collect from you will be segregated into and held in either a Statutory
or Non-Statutory Insurance Broking Trust Bank Account. We will hold the money as
trustee for the Insurer. The Client Money Bank Account is set up as a trust governed
by our agreements with our Insurers. This means that once the client money is segregated
into the trust account it falls into our legal ownership but remains for the beneficial
ownership of the Insurers. If we become Insolvent, the terms of the trust dictate
that Insurers will have a prior claim on the money in the account according to their
specific interests. Where Insurers permit use of a Non-Statutory Trust we may agree
to extend credit to other customers using money from the Client Money Bank Account.
We will have in place and maintain, systems and controls to ensure that we are able
to monitor and manage client money transactions and any credit risk arising from
the operation of this trust arrangement.
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Earning Interest on Customer Premiums
We hold premiums that you pay us in a Client Money Bank Account. Under FSA Regulations
we have to inform you that we may earn interest from money held in our Client Money
Bank Account, which may exceed £20.00 for any transaction that you make with us.
Interest earned will not be held for the benefit of customers. By accepting these
Terms of Business, you are giving your consent for us to act in the manner described
above. Customer Money Passed to Another Person In accordance with FSA Regulations
we have to inform you that in managing and / or arranging your insurance requirements,
we may transfer money that you have paid us in payment of an insurance premium,
to another insurance intermediary. By accepting these Terms of Business, you are
giving your consent for us to act in the manner described above.
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Customer Money Passed to Another Person Outside
the UK
In managing and / or arranging your insurance requirements, we may transfer money
that you have paid us in payment of an insurance premium, to another insurance intermediary
operating outside of the United Kingdom. Unless you notify us that you do not wish
your premiums to be transferred in the manner outlined, by accepting these Terms
of Business you are giving your consent for us to act in the manner described. You
should note that the legal and regulatory regime applying to the insurance intermediary
may differ from that in the United Kingdom and consequently, if the intermediary
fails, the premium may be treated in a different manner from that which would apply
if the premium was held by an insurance intermediary in the United Kingdom.
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Segregation of Investments
We hold premiums that you pay to us in a Client Money Bank Account. We may invest
these premiums in a range of permitted designated investments as prescribed by FSA
Regulations. In the event that there is any shortfall in our client money resource
attributable to falls in the market value of any of these permitted designated investments,
we shall make provision for, and bear the cost of, any such shortfall. By accepting
these Terms of Business, you are giving your consent for us to act in the manner
described above.
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Other Taxes or Costs
Please note that there is a possibility that other taxes and / or costs may exist
in respect of products and services offered by us, which are not paid through or
imposed by us.
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Governing Law
This agreement shall be governed by the laws of England and Wales and the parties
agree herewith that any dispute arising out of it shall be subject to the exclusive
jurisdiction of the English Courts.
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Variations
No variations to these terms are held to be valid unless in writing and signed by
an authorised officer of the Company. The Company's staff are not authorised to
agree any variation of these Terms but they may be varied by the Company from time
to time.
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Agreement to our Terms of Business
Agreement to our Terms of Business does not affect your statutory rights.
Motor and Home Direct Insurance Services is a trading style of Commercial Vehicle
Direct Insurance Services Ltd.
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About Us
Commercial Vehicle Direct Insurance Services Ltd trading as Motor and Home Direct
Insurance Services Company registered in England and Wales No. 04137311 Registered
Office MMT Centre Severn Bridge Aust Bristol BS35 4BL.
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