Terms of business
DNA Insurance Service Ltd. are an independant Insurance Intermediary, offering policies from a range of insurers and we are regulated and authorised by the Financial Services Authority (FSA) to act on your behalf in arranging your insurance cover. Details of our status can be checked by visiting the FSA website at www.fsa.gov.uk or by contacting them on 0845 606 1234. Our service includes advising you on your insurance needs, arranging your insurance cover with insurers to meet your requirements and assisting you with any future changes you have to make. As part of our service we will assist you with any claim you need to make.
In addition to the premiums charged by Insurers, we may make the following changes to cover the administration of your insurance.
- Arranging New Policies = £20 (up to)
- Renewals = £10
- Mid Term Adjustments = £30
- Represented Payments = £25
- Mid Term Cancellation = £35
- Replacement Certificates Or Cover Notes = £25
- Plus Commission
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We normally accept payment by debit/credit card, cheques, cash and postal orders. If we offer credit facilities to you, we may pass information about you to credit reference agencies and may also pass them details of your payment record. In order to be able to offer you credit facilities, we are registered under the Consumer Credit Act and our licence number is 530395. Premiums we collect from you are held in a specific insurance broking account used for the sole purpose of holding clients premiums. In agreement with your Insurer, those premiums are treated as having been paid to the Insurer. Premiums are remitted to insurers after deduction of our commission in accordance with the terms of our agreement with Insurers. We may keep certain documents, such as your insurance policy documents or certificate while we are awaiting full payment of premium(s). In these circumstances we will ensure that you receive full details of your insurance cover and any documents that you require by law. If you would like to know the amount of commission that we are paid in respect of your insurance contract, this information is available upon respect.
Please note no refunds will be due if you have been involved in any claims, paying by installments or Classic Car Schemes. Breakdown and Legal Expenses cover, if applicable, are not refundable. Due to the costs involved any refund of premium, less than £20.00 (after the deduction of reclaimed commission and charges) will not be returned. The specific charge and purpose of any additonal charges will always be advised to you in advance.
Should you wish to cancel your policy at any time during the period of cover please contact the office on 0870 787 2363. In addition you must put your request in writing, at the same time returning the certificate of insurance. Cancellation will only be effective from the date the letter and certificate are received by the Insurance Company.
On a return premium we repay commission on the amount to the Insurer and this will be deducted from the final amount refunded to you, together with any monies owed to your finance provider (if applicable).
Your Insurers may calculate their cancellation refund by applying 'Short Term' rates. This means that the refund of premium will not be proportionate to the annual premium and the time on cover and may give rise to a defecit in the premium(s) paid and those required by your Insurers.