The purpose of this agreement is to set out our professional relationship and detail the service we provide to you. For your benefit and protection, we advise you to read all of the Information carefully.
By asking us to quote for, arrange or handle your insurances you are providing your informed agreement to these Terms of Business. We draw your particular attention to:
If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at the address below.
Cover4Landlords is a trading name of Moorhouse Group Limited (MGL) of Barclay House, 2-3 Sir Alfred Owen Way, Caerphilly, CF83 3HU, which is authorised and regulated by the Financial Conduct Authority (FCA) to arrange and administer general insurance contracts and credit broking facilities. Our Financial Services Register number is 308035 and you can check these details on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.
We (MGL) are an independent insurance intermediary, and not an insurer. We act on your behalf as your agent and conduct a search of available products from our panel of insurers. From time to time, in providing our services we may act as agent of the Insurer. We will confirm the capacity in which we will act for you before undertaking any relevant transactions on your behalf. We do not offer advice or make recommendations when arranging your insurance or when making midterm changes or at renewal. However, we may ask some questions to narrow down the selection of products on which we will provide details; you will then need to make your own choice about how to proceed.
We select products from a range of insurers, but in some instances, we may only be able to provide product details for a single insurer. We will give you further information about this before we finalise your insurance arrangements. We will also supply you with a list of the insurers we may and do conduct business with We will not in any circumstances guarantee the solvency of any Insurer. If we propose using another intermediary to help place your business, we will confirm this to you in good time before any arrangements are finalised.
We may discuss the availability of Credit Facilities with you. When arranging instalments, we act as a credit broker and not a lender. Any credit discussed is available through Close Brothers Premium Finance. This finance can only be used to fund your insurance premium and associated costs and we do not offer advice in relation to the suitability of these products.
We are part of a parent group within which are other subsidiary companies. These companies may offer products and services which may meet your insurance needs. We will only refer you towards those products if you agree for us to do so.
As part of our available insurer markets we may also use products from related companies within our parent group and in some circumstances these may also be partly administered by them to enable placement of the insurance. Your relationship remains with us for all contact, queries and ongoing needs.
We receive commission from insurers out of your premium. We may receive other income based on the profitability or volume of our accounts from an insurer. We may earn income from claims management companies. We do not charge any fees for arranging Premium Finance but may earn an income from the Finance company.
We charge administration fees to you for handling your insurances (see below). We will always confirm the breakdown of cost including all fees, taxes and charges in addition to the insurance premium before the conclusion of the contract. Where requested, we may also issue a quotation to you which will outline the costs for your review prior to making a decision to purchase. Full payment of premium and fees is due before cover commences or in line with any agreed associated credit facility.
In good time before the conclusion of each insurance contract, including upon renewal, we will remind you of your right to be informed of the level of commission which we receive. You have the right to ask us about the earnings we may receive as a result of placing and handling your insurance business at any time.
Some insurers on our panel provide us with insurance premiums which are net of commission. In these cases we will charge a fee in lieu of commission for our services instead of being paid by the insurer who we arrange your insurance policy with. The amount will be disclosed to you and will not exceed the normal range of commissions received for similar insurance products when provided to us on a commission basis.
In addition to the premiums or charges made by your insurer, we will also charge you a fee for the set up or renewal of your policy.
The fee amount paid by you will be declared to you in advance of this being incurred.
Additionally further fess will be payable for specific transactions should they be required during the duration of the policy.
These fees are non-refundable. We will not issue a refund if it is less than £10, nor will we collect an additional premium if it is less than £10.
| Type of Charge | Amount | Reason for the charge |
|---|---|---|
| MTA Fee – Making a change to a policy Including updating incorrect information supplied / non-disclosure identified on the policy | £40 | Cover the cost of making a change to the policy and issuing updated documentation / correspondence. |
| Cancellation Fee - Cancellation within the 14-day cooling off period | £25 | Cover the cost of processing the cancellation |
| Cancellation Fee - Cancellation post the 14-day cooling off period | £75 Plus time on cover charge as detailed in cancellation section | Cover the cost of processing the cancellation and administering any further correspondence |
If you have been introduced to us by a third party broker or affiliate, they may receive remuneration from us for their introduction.
MGL and other firms involved in arranging your insurance may use public and personal data from a variety of sources including credit reference agencies and other organisations. The information is used to help tailor a price, to ascertain the most appropriate payment options for you and to help prevent fraud. Any credit reference search will appear on your credit report whether or not you decide to go ahead with the policy.
In arranging your insurance both we and the insurers will ask a number of questions which you are required to answer. You must take reasonable care to provide complete and accurate answers to the questions we ask you when you take out, make changes to or renew your policy. If you are in doubt, please contact us. Insurance is based on the information that you give to the insurer and if this information is wrong or incomplete, claims may not be paid in full or at all, your policy may be cancelled, have special terms imposed, policy voided, and the premium may not be returned. For online purchases, where help text is provided in relation to a question, please ensure that you read this fully to ensure the correct answer is provided.
If you are purchasing insurance for purposes related to your trade, business or profession, in addition to the above, you must disclose all facts material to the insurance you wish to take out. The facts you need to reveal are all those which the insurer needs to estimate your risk and set the premium and terms. You must disclose this information in a way that is clear and substantially correct.
You must also inform us of any changes to your policy details during the life of your policy, including at renewal. Please read carefully all policy documents sent to you and inform us immediately of any incorrect information shown. If you have difficulty in understanding anything, please let us know and we will assist you. For your protection, insurers maintain databases to prevent fraud and the information you give us may be subject to checks.
If you choose to pay your premium by instalments, we can arrange this for you (acting as a credit broker) through Close Brothers Premium Finance Ltd. Please note that with this option interest charges in addition to other policy and administration charges will apply. If you are a sole trader or partnership, in order to assess your application Close Brothers Premium Finance may use credit scoring, credit reference agencies and an automated decision making system, which will leave a footprint on your credit scoring file. This assessment will take place after they have received your application. If your application is unsuccessful, Close Brothers Premium Finance will cancel the agreement and confirm this to you in writing and you will need to pay the insurance premium in full. Close Brothers Premium Finance Ltd will send out their own terms and conditions to you, which we recommend you take time to read in full. In the event of a claim, instalments must continue to be paid until the full premium and charges have been settled. Please note that the cancellation of your Direct Debit instruction with your bank will not cancel your Insurance policy, and there may remain an outstanding balance for payment. Other charges you may need to pay in connection with your instalment (as charged by Close Brothers Premium Finance) are listed below:
| Administration of a missed payment | Finance up to £5,000 | £30.00 |
| Administration of a missed payment | Finance over £5,000 | £125.00 |
| Cancellation of an instalment plan | Up to £15.00 |
If you choose to pay by credit or debit card, any refund due, in line with our refund terms, will only be made back to that card.
Other taxes and/or costs may exist in relation to the products and services offered by us, but which are not imposed by us, for example VAT. Any such costs will be notified to you prior to the conclusion of the contract.
Whenever you provide us with your credit and/ or debit card details you are entering into a continuous payment authority. Continuous payment authority gives us the right to take payments from your card on a date of our choosing and take payment from your card for different amounts.
We reserve the right to use continuous payment authority to collect payment for mid-term changes, defaulted instalments and balances due to us following cancellation of your policy. Where we intend to use your continuous payment authority for this purpose, we will inform you in advance of us doing so and we will tell you the amount involved.
You can cancel this authority at any time by contacting us and letting us know that you would you like
