You must take reasonable care to provide us with accurate information and you should notify us immediately if anything is incorrect or if you are unsure about any details. Providing inaccurate information could adversely affect your policy, including invalidating your policy and claims being rejected or not fully paid.
You are advised to carefully check your insurance documents once received. Should the information we hold be incorrect or your circumstances or details change, either mid-way through your cover or at renewal, you must notify us immediately.
For online quotes and sales our website does not offer advice or recommend a particular insurer or product. We will ask a number of questions to allow you to make your own informed decision on which product is suitable for you.
BusinessCompare is a trading name of Business Insurance Solutions Ltd (BIS) which is authorised and regulated by the Financial Conduct Authority. BIS's FCA register number is 513256.
Our principal place of business and registered address is 2 Denmark Road, Guildford, Surrey, GU1 4DA.
The FCA is the independent watchdog that regulates financial services. Our permitted business is dealing in and arranging contracts of general insurance. You can check this on the FCA’s Register by visiting the FCA website www.fca.gov.uk or by contacting the FCA on 0845 606 1234.
We may carry out an Identity Check using your details provided. This check will use sources available to Experian, which will include your credit file. You will be able to see a search has been made on your file, however this will not be visible to any other financial provider. This ID check does not provide us with your credit rating and does not affect your ability to obtain credit in the future. Should we be unable to verify your identity, we may require additional documents to be supplied to us.
Our aim is to provide you with a high level of service at all times. However, if something has gone wrong and you wish to make a complaint, please call us on 0333 200 4677 or write to our Audit & Compliance Manager at Business Insurance Solutions Limited, 2 Denmark Road, Guildford, Surrey, GU1 4DA.
We will aim to resolve your complaint within three business days after the date we receive it.
Where you have accepted our response to your complaint within three business days we will send you a summary resolution communication in which we
If we are unable to resolve your complaint within three business days, we will send you a written acknowledgement of your complaint within five business days, giving you the name or job title of the individual handling the complaint.
By the end of eight weeks after receipt of your complaint, we will send you a final response; or a letter explaining why we are still not in a position to make a final response and indicating when we expect to be able to do so.
If you are not happy with the way we (or Lloyds) have handled your complaint, you can refer your case to the Financial Ombudsman Service. Their address is: Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London, E14 9SR. Telephone 0800 023 4567 or 0300 123 9123.
If you are insured via a Lloyds provider, you may ask Lloyd's to investigate your complaint by writing to: Complaints Team, Lloyd's, One Lime Street, London, EC3M 7HA. By email: email@example.com or by phone: +44 (0)20 7327 5693 or fax: +44 (0)20 7327 5225. Details of Lloyd's complaints procedures are set out in a leaflet "Your Complaint – How We Can Help" available at www.lloyds.com/complaints and are also available from the above address.
If the matter to which your complaint relates is the responsibility of another firm (for example an insurer), we will pass details to them, in writing, within five business days of receipt of your complaint and write to you to advise you of this.
These procedures do not affect your right to take legal action if necessary.
We are covered by the FSCS. You may be entitled to compensation from the scheme in the unlikely event we cannot meet our obligations to you. This depends on the type of insurance, size of the business insured and the circumstances of the claim.
Further information about the compensation scheme arrangements is available from the FSCS at www.fscs.co.uk.
We deal with a limited panel of insurers, you can ask us for a list of all the insurers we deal with for each product. For optional extra cover such as legal expenses sold as a supplement to your main policy, we can only offer insurance from a single insurer. We also deal with one lender only when arranging premium financing.
We act as agents for the Insurer for the collection of premiums and refunds of premiums. This means that premiums are treated as being received by the Insurer when received in our bank account and that any premium refund is treated as received by you when it is actually paid over to you. This protects you against the risk of our insolvency as the money is deemed to have been immediately received by the insurer and in this event removes any uncertainty in respect of your cover.
This section contains important notes about your rights of cancellation. You must read these notes carefully.
You can cancel your policy at any time by sending written notice to the address given below: Business Insurance Solutions Ltd, 2 Denmark Road, Guildford, Surrey, GU1 4DA,
We can cancel your policy by sending you a seven-day notice in writing to your last known address.
If your policy is cancelled, we will refund your premium as follows:
If you or we cancel the policy within the 14-day withdrawal period, whether cover has commenced or not, we will refund the part of the premium you have not used subject to an administration fee of £35. In addition, if a discount was applied at inception, the discount will be reclaimed on a pro-rata basis and any charge made by the insurer. (Refer to your policy booklet / policy summary for details of the insurer’s cancellation charges).
If you or we cancel the policy at any other time, we will refund the part of the premium you have not used less an administration fee of up to £90. We do not refund commission as this was earned for administering your policy. In addition, if a discount was applied at inception, the discount will be reclaimed on a pro-rata basis plus any charge made by the insurer. (Refer to your policy booklet/policy summary for details of the insurer’s cancellation charges).
We may not refund your premium, if you have made a claim, or if one has been made against you, during the period of insurance. If you are paying by instalments and have made a claim you may have to pay the balance of the full annual premium.
You are always advised to discuss your options with us prior to deciding upon cancellation of your policy.
All incidents that could possibly give rise to a claim should be notified directly to your insurer without delay and a claim form completed where required. All correspondence, claims, writs, summonses etc. should be forwarded immediately, unanswered to your Insurer. You are also reminded of your duty to keep all losses and costs arising from an incident to a minimum and that failure to comply with policy terms and conditions may invalidate your cover. In the event that an insurer becomes insolvent or delays making settlement, we do not accept liability for any unpaid accounts.
We will write to you in good time before the renewal date to explain what will happen and to let you know what the policy terms and new payments will be. Any renewal premium quoted will only apply provided no claim happens or is reported after the renewal quotation is issued, and provided you have informed us of any change that may affect your policy since inception or last renewal.
At renewal, for your convenience and protection we may automatically continue your insurance (including any additional policies such as legal protection) unless you ask us not to. We will write to you before renewal date to remind you of this and inform you of any changes to your policy and will take payment up to 7 days before the renewal date if you are paying in full.
However, we do not guarantee to renew your policy, and we won’t automatically renew your policy if your payment fails to be authorised.
We make the following charges for administering your insurance:-
A fee may be applied for setting up or renewing your policy which is non-refundable. Any such charges will be shown in the documents provided and detailed in the Statement of Price on your quotation.
A fee of up to £35 plus up to 10% of any premium adjustment for administration of changes and amendments to your policy.
A fee of £20 for administering a duplicate document.
A fee of £25 for cheques returned as unpaid or rejected card payments where an instalment plan has been agreed with us.
A fee of up to £30 to cover the cost of processing instalment arrangements.
A fee of £10 for direct debit defaults on instalments due to Close Brothers Premium Finance to cover our administration costs.
It is not economic or practical to issue refund cheques of small amounts. Accordingly, where a transaction would result in a refund to you from us of less than £5.00, this nominal amount will be retained by us an additional service charge.
If you do not pay in full for your time on cover or you fail to pay any part of your insurance, we may choose to use a debt collection agency to collect any monies owing. Any costs incurred will be added to the debt.
We will provide you with a detailed statement of price when your policy is issued. Should you wish to have this prior to incepting your policy online please contact our offices and we will confirm your statement of price.
We must receive payment by credit or debit card or be in receipt of a completed Direct Debit mandate (with deposit where requested) before cover commences unless we agree otherwise. We use a third party to collect and store card details in accordance with industry standards. We will use the card details stored (even if it's not your card) to collect payment for mid-term changes, defaulted instalments plus any associated fees, our instalment default charges, balances following cancellation and for renewal of your policy. We will inform you in advance of doing so (either verbally or by post) you must ensure the card holder is aware of this.
We reserve the right to initiate cancellation or lapsing of policies where payment is not received, or when defaults on a credit agreement occur.
We will always provide advance notice either in writing or over the telephone, before any transaction is processed, when you will have the opportunity to pay by an alternative method.
A third party may have introduced you to us and for this the introducer may be paid a fee by us. We may also, with your consent, introduce you to other third parties, for which we may be paid a fee.
The law to be applied to this policy will be stated on your Key Facts document. The language used and any communications relating to this policy will be English.