Terms & Conditions
B&M Insurance is a trading style of Bricks and Motor Insurance Brokers Ltd and are independent insurance broker acting on your behalf as an agent to arrange your insurance cover. We offer a wide range of insurance products, and have access to the leading insurers in the market place. We aim to offer the highest standards of service in establishing appropriate insurance cover against your requirements. We are authorised and regulated by the Financial Conduct Authority (FCA). The FCA is the independent watchdog that regulates financial services. Use the information to decide if our services are right for you. Our registration number is 306923. These details can be checked by visiting the FCA website at www.fca.gov.uk/register or by contacting them on 0800 111 6768.
Our service includes: advising you on your insurance needs; arranging insurance cover with insurers to meet your requirements on the basis of a fair analysis of the market; and helping you with any ongoing changes you wish to make. We will make sure, as far as we are able, that the products or services we offer you match your requirements: A list of all the products we offer along with the list of insurers we use is available on request.
- If it is practical, we will identify your needs by getting relevant information from you.
- We will offer you products and services to meet your needs and any requirements you have.
- If we cannot match your requirements, we will explain the differences in the product or service that we can offer you.
- If it is not practical to match all your requirements, we will give you enough information so that you can make an informed decision about your insurance.
We will explain the main features of the products and services that we offer including who the insurer is, all the important details of cover and benefits, any significant or unusual restrictions or exclusions, any significant conditions or obligation which you must meet and the period of cover. If you want to consider the products or services we have offered you, we will:
- Confirm how long you have to take up your insurance on the terms we have quoted to you;
- Give you a written quote if you require one, including all the information you need to make an informed decision; And provide you with a sample policy if you ask for one.
Policy Booklets on Renewal
Upon renewal, policyholders will not always be sent a policy booklet/wording to compliment your policy schedule if you renew with the same insurers. Policyholders have the right to request a policy booklet/wording, which we receive from insurers. You are entitled, at any time, to request a new policy booklet/wording on renewal we may have received as a result of placing your insurance business.
We will provide you with details of the costs of each insurance product or service we are offering. In addition to the premiums charged by insurers, we may also make charges to cover the administration of your insurance. If you are a Private customer, full details of our standard charges can be found in our current Tariff of Charges, a copy of which will be provided to you before you make a commitment to buy your insurance. If you are a Commercial Customer, any specific charge and its purpose will always be advised to you in advance. We may earn additional income from insurers for managing their overall account efficiently and profitably. We may also earn an additional income from the provision of independent premium finance facilities, uninsured loss recovery and risk management services. For Private Customers, we normally accept payment by cash. Subject to status, you may also be able to spread your payments through insurers’ installment schemes or a credit scheme that we have arranged with a finance provider on your behalf. We will give you full information about your payment options when we discuss your insurance in detail. For Commercial Customers, we will agree the method of payment when arranging your insurance. Commercial customer under a FSA ruling have the right to request information about any commission received in relation to their policy, prior to the conclusion of their contract. Prior to the conclusion of each insurance contract, or upon renewal, you have the right to be advised of the level of commission, which we receive from underwriters. 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.
We will hold money that you pay to us in accordance with the regulators rules or under a risk transfer agreement with insurers. This will include holding your money in the following way.
A non-statutory trust client bank account that allows us to use the money held in trust on behalf of one customer to pay another customers premium before we receive it from that customer and to pay premium refunds or claims before we receive payment from Insurance Companies. This is a standard practice within the Insurance Industry and we cannot use your money for any other purpose. We do not pay any interest on premiums held by us in the course of arranging and administering your insurance, unless, in the case of consumer transactions we receive more than £20 per transaction, and then we will ask for your permission to retain the interest. Unless you tell us otherwise, you are consenting to us holding your money in this way.
By holding your money in this way, means that in the event that this firm becomes insolvent your money remains protected.
In arranging your insurance we may employ the services of other intermediaries who are regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers. These firms are also required to hold clients’ money in a separate trust account. We will also inform you if at any time we are required to pass your premium to firms that operate outside the UK where the protection may be different. Should you not wish us to pass premiums to a firm outside of the UK, please inform us.
Notification of Incidents
It is essential that you immediately notify us 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 of 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.
Terms of Payments
Our payment terms are as follows (unless specifically agreed by us in writing to the contrary):
- New policies: immediate payment on the inception date of the policy.
- Alterations to existing policies: immediate payment on the effective date of the change.
- Renewal: due in full by the renewal date. Unless we receive your instructions to lapse a policy before the renewal date we will assume the renewal is required and you will be liable to make payment to us.
In the event that payment is not received from you in accordance with the above terms, we will take whatever steps we see fit to mitigate our position. This may include cancellation of your policy/policies. This could invalidate your insurance cover and could mean that part or all of a claim may not be paid. Whereas the company incurs legal costs and wasted administrative and management time if customers fail without proper excuse to pay invoices rendered by the company when due for payment, and whereas the firm considers it reasonable and appropriate that any such defaulting customer should contribute to such costs Accordingly the following cumulative collection charges ("the Collection Charges") shall be payable by the customer in the event of non-payment of fees or charges ("the Fees") due to the company in respect of the company's provision of its services and arranging or procuring insurance:
- Solicitor's letter to customer for non-payment of an account due: £47
- Solicitor’s fee for issue and conduct of the debt proceedings in the small claims track: £440.63
Total Collection Charges (i) + (ii) = £487.63
The figure under paragraph (ii) above is exclusive of and in addition to all court fees incurred and fixed costs endorsed on any relevant Court Claim Form as may be awarded by the Court. In the event that the company is registered for VAT at the time any relevant collection charge is levied, the Collection Charges will be reduced by, in the case of i) above £7 and in the case of ii) above £90.63. At the time of first publication of these terms of business, the company was not registered for VAT. Nothing in the above fee scale is intended to inhibit the rights of any customer to present any complaint about the company's services.
We usually receive a commission from the insurance provider with whom we place your business, and in such a case, the commission will be due to us either when we are in receipt of cleared funds from yourself (or the premium finance company, if one has been used) or, when the insurer has received cleared funds from us in respect of the premium due under your policy. The individual agreements we have with each insurance provider will determine which of the two methods above is used to make this transfer of commission. We also receive commission for arranging finance agreements for the payments of insurance premiums and this is usually expressed as a percentage of the individual loan and is paid to us directly by the premium finance provider. We may also receive a commission or fee for passing introductions to other professional firms.
Your policy document will generally give you details on whom to contact in order to make a claim. If this information is not provided, or you require assistance, please contact us. We will then advise you as to what action is required and by whom. You will be required to provide full details of your claim. You will be advised as to how you should do this.
All information about you will be treated as private and confidential. We will only use and disclose the information we have about you in the normal course of arranging and administering your insurance. We may pass information about you to credit reference agencies for the purpose of arranging payments by instalments and may also pass them details of your payment record with us. We may also use the information we hold about you to provide you with information on other products and services we can offer which we feel may be appropriate to you. If you do not wish to receive marketing information from us or for us to disclose information about you to other parties for marketing purposes please write to us at the above address. Under the Data Protection Act 1998 you have the rights of access to any personal information we hold about you in our records. If you have any queries concerning this please contact us at the above address.
It is our intention to provide you the highest level of customer service at all times. However, if you should feel dissatisfied with your insurance cover in any way, or with the levels of service we have provided, then we operate a comprehensive Complaints Procedure to assist you with your complaint. Should you have a complaint about anything, contact Kevan Haughton at:B&M Insurance, 52a Bolton Street, Bury, Lancashire, BL9 0LL Telephone: 0161 763 8222
In line with our complaint procedure, we will formally log the complaint and refer the matter to a staff member who is independent from the reason for the complaint. All complaints that are not satisfactorily resolved within 24 hours will be acknowledged in writing promptly within 3 business days of receipt and we will do our best to resolve. You will also be kept informed of any significant developments. If we cannot resolve the problem by the fourth week after the complaint is made, we will let you know when an answer can be expected. If we have not resolved the situation within eight weeks, you may be entitled to refer it to the Financial Ombudsman Service, for an independent assessment and opinion. A copy of our complaints procedure is available on request.
The FOS Consumer Helpline is on 0800 023 4567 (free for people phoning from a "fixed line" (for example, a landline at home) or 0300 123 9123 (free for mobile-phone users paying monthly charge for calls to No’s starting 01 or 02) and their address is:
Financial Ombudsman Service Exchange Tower Harbour Exchange Square London E14 9GE
Are We Covered By The Financial Services Compensation Scheme?
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered, 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 the compensation scheme arrangements is available from the FSCS website www.fscs.org.uk
In line with current trends, we have found it necessary to charge fees for our professional services on the sale of policies and for adjustments made to your cover mid term. Summaries of these are:
- Arranging new policy £25.00 or more dependent on the work involved
- Mid-Term Adjustments £25.00
- Refunds (we refund NET of our commissions) £25.00
- Renewals £25.00 or more dependent on the work involved
- Cancellations (we refund NET of our commissions) £25.00
- Payment by Credit Card 2% on the amount being collected
- Payment by Debit Card 50p