h1_green_card

About Us

Network Trade Insurance Services Ltd is an independent intermediary authorised and regulated by the Financial Services Authority. The FSA is an independent watchdog that regulates financial services; they require us to give you the following information so that you can be sure that our services are right for you. Our FSA register number is 490958. You can check the FSA register by visiting their website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Whose products do we offer? We offer products from a small panel of insurers for motor insurance both private and commercial and we will advise and make a recommendation for you after we have assessed your needs. Please ask for details of our panel of insurers.

What will you pay us for this service? The following charges apply in addition to any premiums calculated by your insurer.

New business or Policy Renewal:
Variable, our earnings will not exceed more than 25% of the annual premium (excluding any Instalment charges and Accident Management Cover).

Cancellation:
Is subject to a £25.00 charge and we will not refund any commission reclaimed by your insurers.

Mid Term Adjustment: £25.00

Late Instalment charge: £5.00 (if paying into the office)

Dishonoured Cheques: £25.00

Duplicate Documents: £10.00

If you pay your insurance by instalments, a service charge will apply. If you pay by direct debit, an interest charge will apply and in addition to the interest charge a £25.00 set up fee may be payable. Additional charges may apply in the event of direct debit default. (Please refer to your personal credit agreement).

What to do if you have a complaint. If you wish to register a complaint please contact us in writing to the address overleaf, or by email to info@networktradeinsurance.co.uk or by telephone. If we cannot settle your complaint you may be able to refer to the Financial Ombudsman Service.

We covered by the Financial Services Compensation Scheme (FSCS) and you may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the claim circumstances. For compulsory classes of insurance a valid claim is covered 100% of the first £2000 and 90% of the remainder of the claim. Further information about the compensation scheme is available from the FSCS.

Looking after your money. The money you pay us is held in trust for your insurer and once we have received your premium your insurers recognise that risk transfer has taken place. This means that once you have made payment to us your insurer will honour all contracts regardless whether we have paid them. We will retain any interest earned on this account.

When cover begins and ends. Insurance will only begin when we receive your payment and we issue confirmation that cover has begun. All Motor Policies we sell are annual policies, which expire one year after the start date of cover (unless cancelled before then). In all cases, we will confirm the period of cover before you buy a policy from us, and your policy documents will confirm this.

Payment Options. We accept payment by cheque, debit or credit card. (A 2.6% charge will be added when paying by credit card) Direct debit is available in most cases but please ask for details.

Your duty of disclosure. In order to get a quote for insurance you will need to answer a number of questions. The answers you give will determine the amount you pay and level of cover you receive. Please avoid the temptation to be anything less than completely honest. Failure to disclose accurate information may invalidate your insurance. This could have serious repercussions. Invalid insurance could result in you being liable to pay for third party damage and no cover being provided for your own property. It could also result in a criminal prosecution, which could affect any future insurance policies. If you are in doubt whether any details are relevant, please ask us.

Keeping Us Informed. Once you buy your insurance, you have a duty to keep us informed of any changes to your circumstances. Note especially that you must call us before you change your vehicle and/ or address. If you don’t keep us informed of any changes, your insurance could be invalid and not cover you in the event of a claim.

Your responsibility to read all documents. When you receive any documents from us you are strongly advised to read them carefully as they form the basis of the cover you have purchased. If you are in any doubt over any of the policy terms or conditions please ask.

Your right to cancel. Some clients have the right to cancel policies within 14 days of receipt of documents. If this right is exercised insurers will charge for the cover provided in addition to administration costs. Full details are provided in your policy summary. After the 14 day period normal cancellation charges will apply as shown in your policy. Our charges are separate and are not refundable as shown above.

Protecting your data. Insurers share information with each other to aid in the prevention of fraudulent claims. Claims details are placed on an industry register for analysis. Under the Data Protection Act you have the right of access to your personal records held on our files and we will tell you the fee if you ask us for a copy of your information. Network Trade Insurance Services may use information we hold about you to contact you about other insurance products or any other services we feel may be of interest to you. We may share your information with other companies who we feel may have products of interest to you. The information we hold may be shared with our appointed Accident Management Company to assist in the handling or processing of a claim.

If you are not happy for us to share your information with others please tick this box:

In the event of a claim please contact the office.

We reserve the right to retain documents at this office until all payments due under the policy have been made and any cheques cleared through our bank account. Any agreed facilities for payment of premiums by instalments through us will be subject to a written agreement that will include our right to retain certificates of insurance until such time payments have been made. By accepting these terms you agree that delivery of any certificate of insurance to us shall constitute delivery to yourselves in accordance with statute law.

Governing Law. Policy documents detail the law applicable to each contract of insurance. This depends on the type of insurance you buy, and which insurer underwrites it. Generally, it will be English law. If you would like confirmation of this, please ask us before buying.

If you are unsure about any of the information contained on this document please do not hesitate to contact us.