MoneywiseQuoteMe.com is a trading name of Moneywise Investments Plc
Applying to General Insurance customers
We recommend that you carefully read these Terms that apply to our appointment by you and the services we will provide.
Moneywise Investments Plc
440-442 Romford Road,
Forest Gate,
London
E7 8DF
Telephone: 0208 552 5521
Fax: 07005 800 126
Email: info@moneywiseplc.co.uk
Moneywise Investments Plc is authorised and regulated by Financial Conduct Authority. Our Firm Reference No FRN is 131366 you can check this on the FCA register by Visiting the FCA’s website www.fca.gov.uk or by telephoning the FCA on 0300 500 8082
We offer a wide range of insurance products and have access to leading insurers in the marketplace. For some types of insurance we deal predominantly with a single or limited number of insurers which we have selected as offering value for money and quality service.
We will give you details of these arrangements before you make any commitment on any product we offer you and a list of the insurers used in these cases, will be available on request.
We will explain the main features of the products and services that we offer you including details of the provider, main details of cover and benefits, any unusual restrictions or exclusions, any significant conditions or obligations and the period of cover.
We will make a recommendation for you after we have assessed your needs, or advise you if we are unable to place your insurance. In some circumstances we provide information only and do not therefore make a personal recommendation. The documentation we provide will make it clear whether the sale is provided on an advised or non-advised basis.
Under the Consumer Insurance (Disclosure and Representation) Act 2012 It is your duty as a consumer to take reasonable care not to make a misrepresentation to an insurer.
Under the act a consumer is defined as an individual who enters into an insurance contract wholly or mainly for purposes unrelated to the individual’s trade, business or profession.
A failure by the consumer to comply with the insurers request to confirm or amend particulars previously given is capable of being a misrepresentation for the purpose of this act.
It is important that you ensure all statements you make on proposal forms, claim forms and other documents are full and accurate and we recommend that you keep a copy of all correspondence in relation to the arrangement of your insurance.
Please note that under the act an insurer has a remedy against a consumer in respect of qualifying misrepresentations in breach of the consumer’s duty of reasonable care where the insurer deems the misrepresentation to be either deliberate, reckless or careless
If in doubt about any point in relation to your duty to take reasonable care and subsequent
qualifying misrepresentations please contact us immediately.
It is your responsibility to provide complete and accurate information to insurers when you take out an insurance policy, throughout the life of the policy, and when you renew your insurance.
It is important that you ensure all statements you make on proposal forms, claim forms and other documents are full and accurate and we recommend that you keep a copy of all correspondence in relation to the arrangement of your insurance.
Please also note that any renewal of insurance will be made in reliance upon the information provided by you in connection with your previous insurance policy – we will assume that such information remains correct unless you tell us otherwise.
Please note that if you fail to disclose any material information to us and your insurers, this could invalidate your insurance cover and could mean that part or all of a claim may not be paid. You should take particular care to check the accuracy of all information you provide.
If in doubt about any point in relation to material facts please contact us immediately.
Please be aware that current UK money laundering regulations require us to obtain adequate ‘Know Your Client’ information about you. We are also required to cross check you against the HM Financial Sanctions List as part of the information gathering process.
We are obliged to report to the Serious Organised Crime Agency any evidence or suspicion of financial crime at the first opportunity and we are prohibited from disclosing any such report.
We will not permit our employees or other persons engaged by them to be either influenced or influence others in respect of undue payments or privileges from or to insurers or clients.
Our payment terms are as follows (unless specifically agreed by us in writing to the contrary):
It is essential to notify us immediately of all incidents that may result in a claim against your insurance policy. You must do so whether you believe you are liable or not. Any letter or claim received by you must be passed to us immediately, without acknowledgement.
Only by providing prompt notification of incidents can your insurance company take steps to protect your interests.
Your policy summary and/or policy document will provide you with details on who to contact to make a claim.
Claims payment will be made in favour of you. If you require a payment to be made to a third party then you must confirm the required payee name and details and provide a brief explanation for your request.
Please contact us for guidance on claiming under your policy.
Your policy document will detail your rights to cancel your insurance once you have taken it out. Depending on the type of policy you have purchased, you may be entitled to cancel within 14 or 30 days of either conclusion of the contract or receiving your policy documentation, whichever occurs later. This is often referred to as a cooling off period.
Where you cancel a policy before renewal you will be responsible for paying a charge to meet the cost of cover provided and administration expenses. Please see the Refunds section.
To enable your insurer to process the cancellation, you will need to return certificates and any official documents to our office within 30 days of your notice to cancel.
In addition to the amount charged by insurers we also make charges to cover the administration of your insurance. Any applicable insurance premium tax will be shown on the documentation we provide to you.
| These fees are non-refundable: | Consumer | Commercial Customer |
|---|---|---|
| New Business | £20.00 | £20.00 |
| Renewal | £20.00 | £20.00 |
| Mid Term Adjustments | £25.00 | £25.00 |
| Lost Papers or Documents | £25.00 | £25.00 |
| Temporary Change | £25.00 | £25.00 |
| Bounced or Return Cheque Charge | £35.00 | £35.00 |
Where a policy is cancelled before renewal, insurers charge to cover their costs, with the balance refunded to you, subject to no claim having been made. Full details will be available in your policy. In the event of an adjustment giving rise to a return of premium the amount may be refunded or held to credit.
Your attention is specifically drawn to the following:-
Where you cancel your policy after the expiry of the cooling off period or where you request a mid-term adjustment which results in a refund of premium,
we reserve the right to charge you for our
time and costs. This will usually result in us reducing the amount refunded to you by the FULL
amount of the commission and fees we would have received had you not cancelled
. The reason for this is that the majority of our costs are incurred either in initially finding and setting up your policy or in the annual renewal process when we might check the ongoing suitability of the cover the policy offers. These costs are recovered through the commission we earn. If you cancel, this does not give us an opportunity to recover the costs we incurred and would often result in us making a loss.
However, any charge made will not exceed the cost of the commission and fees we would have earned.
For certain commercial insurance policies, insurers will only provide cover where the premium is due in full on inception of the policy. This means that no refund will be paid if the policy is cancelled before renewal. We will advise you if this affects you.
In view of the cost involved in making changes to your policy, we will not issue refunds of less than £25.
It is our intention to provide you with the highest possible level of customer service at all times. However we recognise that things can go wrong occasionally and if this occurs we are committed to resolving matters promptly and fairly.
Should you wish to complain you may do so:
We cannot guarantee the solvency of any insurer with which we place business. This means that you may still be liable for any premium due and not be able to recover the premium paid, whether in full or in part, should an insurer become insolvent.
We are covered by the Financial Services Compensation Scheme and you may be entitled to compensation from the scheme if we cannot meet our obligations. Further information about compensation scheme arrangements is available from the Financial Services Compensation Scheme at www.fscs.org.uk
We are registered under the Data Protection Act 1998 and we undertake to comply with the Act in all our dealings with your personal data.
All information about you of a sensitive or personal nature will be treated as private and confidential. We will however use and disclose the information we have about you in the course of arranging, placing and administering your insurance. This may involve passing information about you to insurers, other intermediaries, risk management assessors, uninsured loss recovery agencies and other third parties involved (directly or indirectly) in your insurance.
To make sure you get our best deal and to ascertain the most appropriate payment options for you and to protect you from fraud, we use public and personal data from a variety of sources, including credit reference agencies and other organisations. Our search will appear on your credit report and will be visible to other credit providers whether or not your application proceeds. If you do not proceed it will be clear the search was for quotation purposes. By agreeing to the terms and conditions you agree to these uses of your information.
We may also pass information about you to credit reference agencies and premium finance providers in connection with the assessment of your financial standing generally and, in particular, where you have requested a premium instalment plan – this may include details of your payment record with us.
We may also pass information about you to other companies with which we are associated. We or they may also use the information we hold about you to provide you with information on other products and services we or they can offer and which we or they feel may be of interest to you.
Please notify us promptly in writing if you do not wish your details to be used for any of these purposes otherwise we shall treat the issue of these Terms as evidence of your informed consent.
In the interests of security and to improve our service, telephone calls you make to us may be monitored and / or recorded for training purposes.
We will issue all documentation to you in a timely manner. Documentation relating to your insurance will confirm the basis of the cover and provide details of the relevant insurers. It is therefore important that the documentation is kept in a safe place, as you may need to refer to it or need it to make a claim.
A new policy/policy booklet is not necessarily provided each year, although a duplicate can be provided at any time upon request.
You should always check the documentation to ensure all the details are correct and if this is not the case you should contact us immediately.
If any provision of these Terms is found to be invalid or unenforceable in whole or in part, the validity of the other provisions of these Terms and the remainder of the provision in question will not be affected.
These Terms 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 relevant court.
These Terms supersede all proposals, prior discussions and representations (whether oral or written) between us relating to our appointment as your agent in connection with the arranging and administration of your insurance. These Terms constitute an offer by us to act on your behalf in the arranging and administration of your insurance. In the absence of any specific acceptance communicated to us by you (whether verbal or written) you are deemed to accept our offer to act for you on the basis of these Terms, by conduct, upon your instructing us to arrange, renew or otherwise act for you in connection with insurance matters.
