Terms & Conditions

Nova Insurance of 22 Woodford Avenue, Ilford, Essex. IG2 6XG is authorised and regulated by the Financial Services Authority(FSA). We are permitted to arrange, advise on, deal as an agent of insurers, and assist in claims handling with respect to non-investment insurance policies. You can check these details on the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234

 

Your insurance is based upon the information provided to the insurers and you must ensure that all such information is complete and accurate, and any facts that may influence the insurers decision to accept and pay a valid claim are disclosed.

 

Failure to disclose material information may invalidate your insurance and could mean that part, or all of a claim may not be paid.

 

You have a statutory right to cancel this insurance within a short period. Please refer to your policy summary or policy document for further details. If you cancel you will receive a pro-rata refund of premium from the insurer, although our Fees & Charges will apply. If you wish to cancel outside this period you may be subject to the insurers short period cancellation charges which are weighted in favour of the insurers and refunds are not normally given after a claim. We do not accept verbal cancellation requests and do not guarantee refund amounts until received by from the insurers.

 

In addition to premiums charged by insurers we may make the following charges, Mid-term adjustments £25, cancellations 10% of Return Premium subject to a minimum of £35, replacement of lost certificates £25 and referred or cheques not met for payment £25. Commission earned is not refundable nor are any instalment charges. We may also at our discretion, make additional charges but these will be disclosed to you prior to you making any commitment.

 

Our quotations are guaranteed in so far as the insurers allow and provided the information we receive from you is correct. We reserve the right to not offer or withdraw quotations before they are taken up and to apply charges notified to us by underwriters after the quotation was given and/or accepted.

 

It is our intention to provide a high level of service at all times, However if you have reason to make a complaint you should contact the compliance officer at the above address. You may be entitled to refer the matter to the Financial Ombudsman Service. Further information is available at www.financial-ombudsman.org.uk

 

Please contact us in the first instance and we will make to necessary arrangements. You can also refer to your policy summary or document should you wish to notify insurers direct.

 

All personal information about you will be treated as private and confidential (even when you are no longer a customer), except where the disclosure is made at your request or with consent in relation to administering your insurance, and except where law requires us. The FSA may ask us to provide it with access to our customer records in order that it may carry out a review of our activities. Some or all of the information you supply to us in connection with your insurance proposal may be passed to other insurance companies for underwriting and claims purposes. It may also be passed to associate companies for marketing purposes unless you specifically advise us to the contrary. Under the Data Protection Act 1998 you have a right of access to see personal information about you that is held in our records. If you have any queries, please write to the Compliance Officer at the above address.

 

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 insurance is treated as being paid for), or we hold it in a client bank account on trust for you. We may extend credit to other customers from this account and 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 the FSA rules. We also reserve the right to retain interest earned on this account.

 

By accepting these Terms of Insurance Business you are giving your consent for us to operate in this way.

 

We are covered by the Financial Services Compensation Scheme. 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 for 100% of the first £2,000 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. Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk

 

You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

 

We offer products from a range of insurers for Motor, Household, Personal and Commercial Insurances.

 

Should you wish to pay by instalments, premium finance or have a balance outstanding we reserve the right to ask your insurer to cancel your policy should your payments not be kept up to date and to use all or part of the refund of premium to settle your balance, you will also be liable for any shortfall should the refund not be enough to clear the balance.

 

All of our motor vehicle policies will include an obligatory accident management fee. The fee for this is £25 per vehicle.