Terms and Conditions
This document sets out how we, Peter Best Insurance Services Limited (PBIS), will deal with you as a customer. Please read this document carefully along with the insurer’s policy documentation. It sets out the terms and conditions on which we agree to act for you, contains our responsibilities together with your responsibilities both to us and to insurers.
You will also receive a separate charge table which sets outs the charges for the services we offer. Please read it in conjunction with this and all other documents sent. Please use this information to decide if our services are right for you and contact us immediately if there is anything that you do not understand or with which you disagree. Your receipt of this document constitutes your informed consent to its contents.
Peter Best Insurance Services Limited (PBIS) of 180 High Street, Kelvedon, Essex, CO5 9JD, are authorised and regulated by the Financial Conduct Authority (FCA) to sell general insurance products. Our registration number is 307045, which can be verified by visiting the FCA website at www.fca.gov.uk/register or by contacting the FCA on 0800 111 6768.
PBIS is not an insurer. We are Insurance Brokers or “Independent Intermediaries” as defined by the Financial Conduct Authority (FCA).
PBIS is not tied to any insurer. However we may, where suitable and in accordance with your specific needs, offer products from insurers on a “delegated authority basis”. This means that we have developed schemes designed specifically for our clients and have been authorised by the insurer to arrange and underwrite the contract on their behalf. Alternatively, we will offer products based on a fair analysis of the market.
You will not receive advice or a recommendation from us for:
- Classic Car Insurance
- Everyday/Standard Motor Insurance
- Private Medical Insurance
We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
We will advise and make a recommendation for you after we have assessed your needs for:
- Household Buildings and Contents Insurance
- Travel Insurance
- Commercial Classes of Insurance
- High Value Household Insurance
- High Value Vehicle Insurance
THE CAPACITY IN WHICH WE ARE ACTING
|Sourcing a suitable policy||We act as your agent|
|Placing the insurance||We act as your agent|
|In the event of a claim||We act as your agent|
As an intermediary, we owe various duties to you. However, in certain circumstances, we may act for and owe duties of care to other parties such as insurers. Our service includes: arranging your insurance cover on your behalf with insurers to meet your requirements; and helping you with any ongoing changes you have to make, such as amendments to the cover, use and property insured. We will also arrange the cancellation of your policy and, where possible, arrange cover with an alternative insurer if your requirement to amend your policy is not acceptable to your original insurers. We will also arrange optional additional covers such as legal protection and breakdown cover where these meet your needs. We will also arrange the renewal of your insurance. We will explain the main features of the products and services that we offer to you as well as the basis on which we have provided information and/or advice.
Upon receipt of your instructions we will place, amend, renew or cancel insurance cover on your behalf with insurers. We shall assume, unless you confirm to the contrary in writing, you have authorised us to agree the terms and conditions of your insurance policy with insurers consistent with your instructions. We will advise you of any inability to place your insurance.
You must not rely on any insurance policy you have instructed us to place on cover until we have confirmed in writing to you that the insurer has agreed to such insurance cover being in place. We will not incept or renew any contract of insurance without either payment in full or a deposit for finance if it is offered.
YOUR OBLIGATIONS – INFORMATION WE NEED TO KNOW ABOUT
It is important that you understand that any information, statements or answers made by you, to us, or your insurer, are your responsibility. You must take reasonable care not to make misrepresentations when answering insurer’s questions. If you are careless in answering the insurer’s questions or deliberately make misrepresentation, this may render the insurance void from inception (the start of the contract) and enable the insurer to repudiate liability (entitle the insurer not to pay your claims). You are advised to keep copies of documentation sent to or received from us for your own protection. Please do consult us if you are in doubt on any aspect. The requirement for correct information not only applies at commencement and renewal of your policy, but also at any time during the period of insurance.
You must take care to advise us of any changes to your circumstances as soon as possible as these may change the basis under which we insure you. Such changes include, but are not limited to: change of address; change of registration; change of drivers; change of vehicle.
If you are in any doubt as to whether or not a change in your circumstances constitutes a change to your policy, please contact us and we will advise accordingly.
Quotations are valid for a maximum of 30 days, unless otherwise stated.
PAYMENT OF PREMIUM
We must receive your payment, by cheque, credit or debit card or be in receipt of a completed direct debit mandate (with deposit where requested) drawn on a bank or building society or UK financial institution account in the policyholder’s name and before cover commences unless we agree otherwise. We do not accept cash payment in any currency or payment by postal order. A charge may apply to payments by credit card (currently 2% of premium) and this will be confirmed to you in writing at the time of incepting or renewing your insurance. No charge is made where payment is made by debit card.
Please be aware that full or partial non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.
PAYMENT BY FINANCE
PBIS offers finance provided by Close Premium Finance for premiums in excess of £135. A deposit of 25% is required and both the deposit and the finance must be made in the name of the policyholder. We cannot place any business or finance without the express permission of the policyholder.
You are entering into a finance agreement with a third party and all correspondence in relation to the finance contract must be direct with Close Premium Finance as we cannot make adjustments on your behalf. Please refer to your finance agreement and in particular to charges and fees which may become applicable in the event of default. Any charges payable to Close Premium Finance will be in addition to any payable to PBIS.
HOW WE HANDLE YOUR MONEY
PBIS does not hold client money and operates on a risk transfer basis in agreement with its insurers. You are protected to the extent that any premiums PBIS receives from you are treated as having been received by the insurer. Where the agreement extends to premium refunds, this will be treated as received by you only when they are actually paid to you. Risk transfer will apply to money paid to us by you unless PBIS notify you otherwise.
COOLING OFF PERIOD
You have a statutory right to cancel a policy within 14 days of inception or renewal or upon receipt of the policy documentation, whichever is the latter. You may, without providing a reason, cancel the policy in accordance with its terms and conditions. Cancellation may be subject to a time on risk charge, which will be inclusive of IPT (Insurance Premium Tax) plus the relevant service charge due to either PBIS and/or the insurer. Please refer to your policy booklet for specific cancellation conditions.
VERIFICATION OF YOUR DETAILS
From time to time PBIS and/or its insurers may conduct a random audit of policy details. This may include (but is not limited to) V5C document, driving licence, proof of residency, garaging information, National Insurance number, proof of no claims. If we request this information you must supply it to us within the stated period. In the event that you fail to supply the information or the information fails to verify the information given by you at inception or renewal, we reserve the right to cancel or amend your policy.
CANCELLATION AFTER THE COOLING OFF PERIOD
Your policy booklet will detail the conditions and charges that will apply if you wish to cancel your policy. These terms vary by insurer and type of policy. Particular conditions apply with classic car policies arranged by and issued through us, especially limited mileage policies. Where a classic car policy is surrendered, any refund will be calculated based on the period the policy has been in force. Where such a policy has run more than 6 months, there is no refund.
In addition to the fees laid down by your insurer, PBIS may make a charge for cancellation mid term of 15% of premium refund subject to a minimum of £20 and a maximum of £50.
No charge will be made where a refund is not due. Any refund less than £5.00 will not be refunded.
You must confirm your cancellation request in writing BEFORE we can cancel your policy. This may be done via letter by emailing us at email@example.com with your name, postcode, policy number and registration number giving 72 hours’ notice and stating your reason for cancellation. Alternatively, you can complete the cancellation form on our website www.peterbestinsurance.co.uk found on our ‘contact us’ page.
We cannot accept verbal instruction to cancel your cover. This is in order to protect you.
For limited mileage policies your current/last mileage reading is also required. In the event that your annual mileage has been exceeded at the point of cancellation no refund will be due. We reserve the right to verify this by checking with the DVLA using your V5C (registration document) reference. Failure to provide this may result in no refund being issued.
MID TERM ADJUSTMENTS (M.T.A.s)
M.T.A.s arise as a result of a change or changes to the original insurance contract such as (but not limited to):
- an increase in the value of house contents
- change of motor vehicle
- adding a driver
- increase in mileage
- change of address
- notification of a conviction or accident in any vehicle which may result in special terms being imposed by the Insurer.
We normally make a charge of up to £25 in addition to any premium adjustment (up or down) due to the Insurer where additional
work/documentation is involved. Where a duplicate certificate of insurance and schedule is required because the original is lost or mislaid, a charge of £10 will also be made. Where a direct substitution of a motor vehicle cannot be made (i.e. same insurer and policy) the cancellation charges listed will apply.
We will write to you in good time (usually 21 days prior to renewal date) on the basis there have been no changes in the risk other than those specifically notified to us or your insurers. We will not renew your policy without specific instruction from you and the relevant payment in full or deposit for finance (if offered) has been received. We may make an exception to this for certain product lines such as household or commercial and where we have your express permission and a facility to collect payment has been organised with you. If your policy is on a limited mileage basis, we will not renew without your current accurate mileage reading.
NB. PBIS DOES NOT OPERATE AUTOMATIC RENEWALS
If you have occasion to claim on your policy you must notify us immediately by calling 01376 574000 (option 6) and we will promptly advise you of the claim procedures for your particular insurer. You should not admit liability nor agree to any course of action, other than emergency measures carried out to minimise the loss, until you have agreement from your insurer. Where the Insurer operates a direct customer claims line, the Insurer will take over management of the claim.
NB: IF YOU HAVE BEEN PROVIDED WITH AN EMERGENCY BREAKDOWN OR HELPLINE CARD, PLEASE KEEP THIS HANDY, IN EITHER THE CAR OR ON YOUR PERSON.
FRAUD PREVENTION AND DETECTION
Insurers pass information to the Claims and Underwriting Exchange Register (CUE), run by Insurance Database Services Ltd (IDS) and the Motor Insurance Anti-Fraud and Theft Register, run by the Association of British Insurers (ABI). The aim is to check information provided and to prevent fraudulent claims. When we deal with your request for insurance, we may search these registers. Under the conditions of your policy, you must tell us about any incident which may, or may not, give rise to a claim.
It is an offence under the Road Traffic Act to make a false statement or to withhold information to obtain the issue of a Motor Insurance Certificate. Failure to disclose all relevant facts could invalidate your policy.
MOTOR INSURANCE DATABASE – CONTINUOUS INSURANCE ENFORCEMENT
If you have purchased a motor insurance policy from us, information relating to your insurance policy will be added to the Motor Insurance Database (MID) managed by the Motor Insurance Bureau (MIB). MID and the data stored on it may be used by certain statutory and/or authorised bodies including the Police, the DVLA, the Insurance Fraud Bureau and other bodies permitted by law.
It is vital therefore that MID holds your correct registration number. If it is incorrectly shown on the MID you are at risk of having your vehicle seized by the Police. You can check registration number details are shown on the MID at www.askMID.com.
It is an offence under the Road Traffic Act to drive a motor vehicle without insurance. You therefore have a responsibility to ensure your vehicle is insured at all times unless a Statutory Off Road Notification (SORN) is in place. PBIS cannot be held responsible if you have failed to insure your vehicle and are subsequently picked up by an authority of the law, particularly where you have failed to renew your insurance policy on time. You are reminded that we do not automatically renew motor insurance policies and there are no days of grace.
Unless required by law, public interest, virtue of our being authorised by FCA or you give your consent, all information you supply will be kept confidential to us and parties involved in the normal course of arranging and administering your insurance. However we may use the information we hold about you to provide you with information about other products and services, either from ourselves or carefully selected parties. If you do not wish to receive such information please email us at firstname.lastname@example.org or contact us in writing. Under the Data Protection Act 1988, private customers have a right to see personal information about them that we hold in our records. If you wish to exercise this right, or have any other related queries, please contact us in writing.
Some insurance providers may carry out checks with credit reference and fraud prevention agencies in order to provide you with a quote. Consent is assumed unless you tell us otherwise. This will not affect your credit rating.
By supplying data you give explicit consent for all data provided to be used in this way unless you tell us otherwise.
We undertake to abide by the rules of the FCA and at all times to Treat Customers Fairly, advise them unambiguously, and process their new business, renewals, mid term adjustments or claims, promptly and efficiently.
In the event that we do not live up to our stated objectives, you may complain in the first instance to the Business Development & Compliance Director, PBIS, 180 High Street, Kelvedon, Essex CO5 9JD.
In the event we have not been able to resolve your complaint satisfactorily or within 8 weeks of you first notifying us of a problem, you may be entitled to refer it to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.
FINANCIAL SERVICES COMPENSATION SCHEME
PBIS is covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme should PBIS be unable to meet its obligations. This depends on the type of business and circumstances of the claim. Insurance advising and arranging is currently covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from FSCS.
Your calls may be monitored for training purposes.
This document is available on our website at www.peterbestinsurance.co.uk where the font can be adjusted to suit.
TABLE OF SERVICE CHARGES
The following table represents the fees and charges applicable for the different areas of business we transact. PBIS checks the market each year to ensure our charges are fair and reasonable. However, due to increases in costs necessary to run a business, as well as the increased cost of regulation, these are unfortunately unavoidable. In order to treat our customers fairly, these charges are non-negotiable.
|Classics||New Business single policy – 1-2 vehicles||£30 – £50|
|New Business multi vehicle (insured simultaneously) – 3-10 vehicles||£50 – £100|
|New Business collections – 10+ vehicles||Separate fees apply|
|Temporary Mid-Term Adjustment||£10|
|Renewals single policy – 1-2 vehicles||£27.50|
|Renewals multi vehicle – 3-10||£50|
|Cancellations||15% of return premium (min £20 / max £50)|
|£15.0015% of return premium (min £20/max £50)|
|Everyday Motor||New Business||£20|
|Cancellations||15% of return premium (min £20 / max £50)|
|Cancellations||15% of return premium (min £20 / max £50)|