Premium Instalments Q+A

How will I know when you are going to collect my payments?

We will write to you giving a list of all dates and payment amounts. We will collect the instalment from your bank or building society account on each date shown. Please allow time for your bank to process this. If you wish payments to be collected on a particular date each month please let us know and we can normally be flexible.

What happens if I don't have sufficient funds in my account?

If you know that a payment may be refused by your bank you should contact us beforehand to discuss an alternative payment method. Should a payment be unpaid by your bank then we will notify you accordingly giving you the opportunity to resolve the issue. If an instalment remains unpaid then by signing the instalment agreement you give us authority to cancel your policy.

If I need to change my policy what should I do?

You should still notify us immediately. We will make any adjustments to your monthly premium and send you a revised schedule of payments.

What happens when my policy is due for renewal?

We will write to you approximately 14 day before your renewal date setting out the schedule of payments for the coming year. To ensure your continuing cover we will automatically renew your policy unless you instruct us otherwise. If we suggest an alternative Insurer, we will not normally require a new direct debit mandate. We would not however change your Insurer without your approval.

What happens if I have a claim?

In the event of a claim your payments must continue unaffected. With regard to Motor Insurance if your vehicle has been deemed to be a total loss, or stolen and not found, then we reserve the right to obtain full settlement of the outstanding balance.

What should I do if I wish to cancel my policy?

You should talk to us first. The payment agreement is to pay an annual premium by monthly instalments. It is not a contract for monthly policies. If you cancel you will be subject to the same cancellation terms in your policy as had you paid in full. This means that is some circumstances, such as when a claim has been made, then payments will remain due after a policy has been cancelled.

Can I pay the outstanding balance off early?

Yes. If you wish to settle an account early tell us and we will give you a settlement figure having given a refund of the appropriate interest charge.

Nothing contained in this text can be deemed as overriding the full terms and conditions of your payment agreement.