Terms & Conditions
Terms of Business
Todd Insurance is a trading style of W Todd and Son Ltd. W Todd and Son Ltd. is an Independent Intermediary and is authorised and regulated by the Financial Conduct Authority (FcA) and bound by its rules in respect of insurance mediation activities. You can check this on the FCA’S register by visiting the FCA’s website www.fCa.gov.uk/register or by contacting the FCA on 0845 606 1234.
W Todd & Son Ltd. Is Registered in Northern Ireland - Company Number NI058578. Registered Address 10 Prospect Court, Omagh, County Tyrone, BT78 1AR. We are permitted to arrange, advise on, deal as an agent of insurers and clients and assist in claims handling with respect to non-investment insurance policies on behalf of customers based on a fair analysis of the insurance market. For some types of cover, we may use a limited number of specialist insurers although we are not contractually obliged to do this and you can request a list of insurers from whom we select
Duty to give information
It is your responsibility to ensure that all information, statements or answers made by you to us or your Insurers are correct and complete as any failure to disclose facts material to the insurance or any inaccuracies in your answers may invalidate your insurance cover in part or in whole. You hold responsibility for any information entered in any proposal form on your behalf and therefore must ensure that all information is correct before signing any form. Proposal forms, Proof of No Claims discounts and direct debit mandates must be returned within seven days of inception of the policy. We suggest that you take a copy of any proposal form that you sign for your records.
We reserve the right to make charges in addition to any insurance premiums, for the arranging, amending, renewing and cancellation of any insurance. A complete list of these charges is available on request. The following charges outline the most commonly used and are in addition to any charges made by the Insurer.:
- Midterm Adjustments - up to £50.00
- Midterm Cancellations - Net Premium +£40.00 administration fee
- Replacement/Duplicate certificates or cover notes - £15.00
- Credit Card Transactions - 2 %
- Renewal Fee - up to £50.00
- 1st Overdue Balance reminders - £10.00
- Subsequent Balance Reminders - £10.00
- Notice of Cancellations - £40.00
- Defaulted Payments - £10.00
- Letter Confirming Driving Experience - £25.00
Commission is earned in full when your insurance is placed and therefore we do not refund commission. Instalment charges are not refundable. We reserve the right to waive any charges at our discretion. Legal Expenses premiums are non-refundable. We will advise you of any charges before you become liable for them.
Cooling Off Period (Retail Customers Only)
You have up to fourteen days from the date you transact your policy or the day you receive your policy documents (whichever is later) to make sure that the policy you have purchased is suitable for your needs. If you wish to invoke cancellation within this time you may do so without penalty. Please note that that your Insurers may charge for “Time on Cover” and we may be entitled to a fee of no more than £50.00 to cover administration costs incurred.
Your Insurers may charge for temporary vehicle substitutions or additions to your policy. As charges vary between Insurers we will endeavour to make you aware of these charges when you make your enquiry. Please note that most Insurers do not cover Test Drives. Charges also apply for temporary additional drivers.
We will cancel your policy upon request from yourself. Please note that we will not cancel policies until we have received the certificate of insurance and a signed cancellation advice from the policyholder. Cancellation practises vary between Insurers and you should make yourself aware of these. Some Insurers may calculate any return on a “short-period” basis weighted in favour of the Insurer and no return may be due after 8 months of cover. Please also note that if you have arranged to pay for your policy through an instalment scheme you must continue to honour these payments until all monies owing are settled. There will be no return following cancellation after a claim. Please allow up to 45 days for the return of any premium. Minimum return premium will be £25.00.
Finance and Premium Payments
You agree to pay all premiums and any other charges on or before the due date set out in our debit note//invoice, renewal invitation or new business quotation. Failure to comply with premium payments will entitle us to cancel the policy. If we have to invoke cancellation we will give you seven days notice. Fees charged for this will be non-refundable. We accept cash, cheque, and credit card and are able to provide finance through Premium Credit Ltd. or any other reputable finance provider with whom we may subsequently enter into an agreement with. Please note should you wish to pay by instalments it is your responsibility to ensure payments are made on the due date. You must continue to make these payments regardless of whether you cancel your policy. Any refund due can then be credited to your finance agreement. Finance Charges are non-refundable.
Protecting your money
Prior to your premium being forwarded to the insurer, and for your protection, we either hold your money as an agent of the insurer (in which case your policy is treated as being paid for), or we hold it in a client bank account on trust for you. We may need to transfer your money to another intermediary in some cases. However your money will be protected at all times because of the requirements of FSA rules. We also reserve the right to retain interest earned on this account.
By accepting this Terms of Insurance Business document, you are giving your consent for us to operate in this way.
We also may hold any documents such as Certificates of Insurance, No Claims Discounts and Claim Monies until all premiums and charges outstanding are paid or if you ask us to do so on your behalf. We will ensure that you receive full details of your insurance cover and any documents that you are required to have by law.
We will endeavour to send a notice of renewal to you 21 days (Retail Customers only) before expiry of your current policy. You authorise us to hold your No Claims Discount until expiry of your current policy. This will simplify any administration procedure should you wish to change Insurers. A renewal discount may be included in the terms offered. This may not be available after expiry of your current policy. We will not be obliged to automatically review any policy at each renewal unless you request it and/or we deem it to be necessary.
It is our intention to provide a high level of service at all times. We do though understand that sometimes things can go wrong. We take complaints very seriously and will make every effort to resolve any grievance you may have. If you feel you have cause to be unhappy in any way , in the first instance please write to the compliance officer at the address shown overleaf. We will acknowledge receipt of your complaint in writing within 5 working days and give you our response to your complaint at this time if we can. If it will take more time to deal with your complaint, we will advise you who is dealing with your complaint, and when you can expect to hear a fuller response if our investigations take longer, we will provide you with a full written response within 20 working days, or explain the current position of your claim and provide you with a timescale for a full response. Should you not be satisfied with our final response, you may be eligible to refer your complaint to the Financial Ombudsman Service, which is an independent complaints resolution service. W Todd & Son Ltd. is covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme should W Todd and Son Ltd be unable to meet its obligations. Insurance advising is covered for 100% of the first £2000 and 90 % of the remainder 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.
W Todd and Son Ltd are registered under the Data Protection Act 1998. We may use the information that you supply for the purposes of insurance administration. Please note that it may also be used by your Insurers and/or appointed representatives. It may also be disclosed to any regulatory bodies we subscribe to for the purposes of monitoring and compliance. Please note that should premium payments not be met we may pass information about you to a debt collection agency.
We shall not be liable in any way for failure to perform, or delay in performing our obligations under these terms of business if the failure or delay is due to causes outside our reasonable control (”Force Majeure”). In the event of a Force Majeure arising we will notify you as soon as reasonably practicable.
Amendment to terms
W Todd and Son Ltd may amend the Terms of This agreement at any time by giving you fourteen days notice in writing.
This agreement shall commence from the date that you appoint W Todd and Son Ltd to act as your intermediary or you instruct W Todd and Son Ltd to arrange insurances on your behalf whichever of these dates is the earlier. This agreement shall then continue until cancelled in accordance with the termination Clause below.
You or W Todd and Son Ltd may terminate this agreement by giving seven days notice in writing. In the event of termination by you , W Todd and Son Ltd will be entitled to receive all fees and brokerage payable (whether or not these have been received by W Todd and Son Ltd) in relation to policies placed by W Todd and Son Ltd prior to termination. Tel: +44 (0)28 8224 5333 | Fax: +44 (0)28 8224 5336 | Email:Omagh@toddni.co.uk