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Terms of Business

Who are we?
Sureterm Direct, a trading name of Insurance Factory Limited, is an insurance intermediary offering a range of personal insurances, including motor, home and travel insurance. Insurance Factory Limited is part of the Markerstudy Group of Companies which includes Markerstudy Insurance Company Limited and Zenith Insurance Plc.

Who are we regulated by?
The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services.
Sureterm Direct is a trading name of Insurance Factory Limited.  Insurance Factory Limited is authorised and regulated by the Financial Conduct Authority (No. 306164). Registered in England and Wales number 02982445.  Registered office Markerstudy House, 45 Westerham Road, Sevenoaks, Kent TN13 2QB. You can check this on the FCA register by visiting the FCA’s website www.fca.org.uk or by contacting the FCA on 0800 111 6768.

Whose products do we offer?
> For motor insurance we offer products from our panel of insurers. Our panel members are selected from a fair analysis of the market and panel membership is regularly reviewed. A list of insurers we offer motor insurance from is available on request.
> For breakdown and recovery insurance we can only offer products from AXA Assistance
> For legal expenses insurance we can only offer products from Arc Legal Assistance.
> For key cover we can only offer products arranged by Supercover Insurance Limited.
> For personal accident cover and for hire car cover we can only offer cover from Ultimate Insurance Solutions Limited.
> For gadget cover we can only offer products arranged by Supercover Insurance Limited
Which service will we provide you with?
You will not receive advice or a recommendation from us. We will ask 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.

If you choose to have your documents sent electronically
If you choose to have your policy documents sent electronically you will receive an email with the documents attached in a Portable Document Format (PDF). Once opened you will be able to view your Schedule and Certificate of Motor Insurance or Cover Note, together with a Statement of Information or Proposal Form which contains the details you provided to Sureterm Direct at inception. It is your responsibility to access the documents at your earliest convenience and notify Sureterm Direct of any inaccuracies. Failure to correct any incorrect information may invalidate your insurance.
Your insurer may request proof of certain documents. These can be returned electronically or through the post.

Misrepresentation
Please take reasonable care to answer all the questions honestly and to the best of your knowledge. If you do not your policy may be cancelled, or treated as if it never existed, or your claim not fully paid. You are reminded that it is an offence under the Road Traffic Act to make any false statements or withhold any relevant information to obtain a Certificate of Motor Insurance. Please note that under the Rehabilitation of Offenders Act you are not required to disclose convictions regarded as ‘spent’.

Refunds
The minimum amount we will refund is £10 therefore any refund below this amount will not be given. We will aim to process any applicable refund within thirty days from the date that the adjustment was processed. Refunds will be processed using the original payment method. If this payment method is rejected then refunds will be made via cheque.

How to amend your policy
If you want to make a change to your policy, please telephone a member of our Customer Services team on 01480 220061 and let us know of the change that you wish to make and the date that you wish the change to be effective from. If we, and your insurer, agree to the change we will also agree on the effective date of the change. No advance notice is required. We will let you know of any additional premium to be paid and any fee that may be payable for the mid-term adjustment (see section entitled ‘What will you have to pay us for our services?’ for details of any applicable fees).

How to report a claim
To report a claim, please call us on 01480 220054. You will be asked to provide various details, including the following:
> The date, time and location of the incident.
> Details of any other parties involved (if relevant).
> Details of any independent witnesses to the incident.
> Information about any emergency services that attended the incident (e.g. crime reference number).

What will you have to pay us for our services?
In addition to premiums charged by insurers we make the following charges shown in the table to the below.

 

Fee Type Explanation of Fee Amount of Fee
Arrangement Fee

-Telephone Sales

An arrangement fee payable upon inception and renewal of the policy.

The value of the fee will be disclosed to you before you decide whether to take out the policy. If your policy is cancelled for any reason after the cooling off period we will retain the whole arrangement fee.

Up to a maximum of £75

 

Arrangement Fee

-Online Sales

An arrangement fee payable upon inception of the policy.

The total price of your insurance policy, which will include an arrangement fee, will be presented to you online prior to purchasing.

 

The total amount of the arrangement fee will be confirmed in your policy documents. If your policy is cancelled for any reason after the cooling off period we will retain the whole arrangement fee.

Up to a maximum of £75
Arrangement Fee

– Multi Vehicle Policies

An arrangement fee payable upon inception and renewal of the policy.

The value of the fee will be disclosed to you before you decide whether to take out the policy. If your policy is cancelled for any reason after the cooling off period we will retain the whole arrangement fee.

Up to a Maximum of £100
Postal Delivery of Documents This is an annual fee. There are certain specialist policies that can only produce paper documents and in this case the fee is waived.

If your policy is cancelled for any reason later than 14 days after the date you agree the price and terms of cover with the insurer, or the date of receipt by you of your policy documentation (whichever is later), we will not refund the Postal Fee of £4.50

£4.50
Discount A discount given against the total cost. If we have given you a discount off your premium at inception or renewal this will be deducted on a pro rata basis from any refund due to you on cancellation. Any discount will be shown on your policy documentation
Adjustment Fee Any adjustment made to your policy either prior to policy commencement or during your policy term. Up to £35 per change
Cancellation of the Policy after the 14 day “Cooling off Period” If your policy is cancelled for any reason later than the 14 days after the date you agree the price and terms of cover with the insurer, or the date of receipt by you of your policy documentation (whichever is later). Up to £50
Cancellation of the Policy Within

the 14 day “Cooling off Period”

You have the right to cancel your policy, providing you have written or telephoned us to cancel it within 14 days of the date you agree the price and terms of cover with the insurer, or date of receipt by you of your policy documentation (whichever is later). £20
Other Cancellation Costs Practices vary between insurers with regard to premium refunds on cancellation, so please refer to your policy documentation to find out what premium, if any, is refundable. Generally no premium will be refunded if a claim has been made. In the event of cancellation of your main policy, any optional extras that have been purchased will be cancelled at the same time (whether or not they are included in your main policy or covered under a separate policy) and premiums may not be refundable. Any other cancellation costs will be detailed to you upon point of cancellation
Agreed Valuation Fee If your policy is cancelled for any reason later than 14 days after the date you agree the price and terms of cover with the insurer, or the date of receipt by you of your policy documentation (whichever is later), we will not refund the valuation fee. £17
Cancelled or Rejected Payment Fee payable if the payment is cancelled.

Fee payable if your card payment is rejected.

£25
Duplicate Documentation Fee payable if you require a duplicate copy of your insurance documentation. Up to £15 per request
Subject Access Request Fee payable for the details of all information held about you. £10
Avoidance of Contract Where we are instructed by your insurer to avoid the contract of insurance from inception we will retain the arrangement fee or £25 admin charge (whichever is greater) to cover our administration costs. Up to a maximum of £75
Credit Card Charge The charge is 1% of the total amount payable when you use a credit card. 1% when applicable.

 

Please also note the following costs that you may incur from your insurer or credit provider:

> Premium refunds on cancellation: Practices vary between insurers so please refer to your policy documentation to find out what amount of premium, if any, is refundable in the event of cancellation. Generally no premium will be refunded if a claim has been made.

> Payment by instalments: Charges vary according to the chosen payment option so please refer to your credit agreement, or the payment details section of your documentation, for further details.

 Cancellation process
To cancel your policy, please telephone or write to Sureterm Direct. You have the right to cancel your policy at any time during the policy term, however calculations of any refunds or charges due will depend on the terms and conditions of the policy and will be detailed to you upon your request for cancellation.
If we have given you a discount against your premium this will be deducted on a pro rata basis from any refund due to cancellation.
Practices vary between insurers with regard to premium refunds on cancellation, so please refer to your policy documentation to find out what premium, if any, is refundable. Generally no premium will be refunded if a claim has been made. In the event of cancellation of your main policy, any optional extras that have been purchased will be cancelled at the same time (whether or not they are included in your main policy or covered under a separate policy) and premiums may not be refundable.

Payment by instalments: If you choose to pay by Direct Debit, your monthly instalment plan will be financed by Premium Credit Limited. Premium Credit will send you a welcome pack which will include a credit agreement. In assessing your application Premium Credit will search the public information a credit reference agency holds about you. The credit reference agency will add details of the search to their records whether or not the application for credit proceeds. This and other information may be used to make credit decisions about you and to undertake checks for the prevention and detection of money laundering. Failing to make a payment when it is due will result in cancellation of the credit agreement and may result in cancellation of your insurance.

Our Complaint Handling Procedure
 At Sureterm Direct we are dedicated to delivering a first class level or service to all customers. We welcome any comments on the services we provide – in the form of both compliments and complaints. We accept that things can occasionally go wrong and would encourage you to tell us about any concerns you have so that we can take steps to make sure the service you receive meets your expectations.
Need Help? If a dispute regarding your policy or claim does arise, the first step is to talk to a member of the Sureterm Direct team. This can be done either my telephoning us or dropping us a line by letter if you prefer.
Telephone: 01480 220 061. Address: Complaints Officer, Sureterm Direct, Lancaster House, Meadow Lane, St Ives, Cambridgeshire, PE27 4ZB.

Response Time
Where we are unable to resolve your complaint by the end of the third business day after receipt, you can expect the following from us:
-Acknowledgement of your complaint in writing within 5 business days after receipt. This will state who is handling the complaint.
We will aim to resolve your complaint within 4 weeks of receipt, unless the matter is very complicated, such as where other organisations need to be contacted. Where this is the case, we will let you know what action is being taken and tell you when we expect to provide you with a final response.
Our goal is to ensure that you receive a final response letter within 8 weeks of receipt of your complaint. If we are still unable to provide you with a final response at this stage, we will write to you explaining why, and advise when you can expect a final response.

What is a final response?
This letter should clarify the final position in relation to your complaint and any actions agreed going forward.

The Financial Ombudsman Service – What you should know
You may initially go direct to the Financial Ombudsman Service with your complaint, but the Ombudsman will only review your complaint at this stage with our consent. However, we are still required to follow the procedure as stated above in the Response Time section. If more than 8 weeks from the date of your complaint has passed and you have not received a final response, you may refer your complaint to the Financial Ombudsman Service. If you have received a final response but are dissatisfied, you have the right of referral to the Financial Ombudsman Service within 6 months of the date of the final response letter. You may refer to the Financial Ombudsman Service beyond this time limit if we have provided our consent in the final response letter. The Financial Ombudsman Service will let you know that they have received your complaint and what the next steps will be.

Contact details: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR. Telephone: 0300 123 9 123.
Website: www.financial-ombudsman.org. Email: Complaint.info@financial-ombudsman.org
The Financial Ombudsman Service will consider your complaint impartially and we are bound by their decision.
If you are dissatisfied with the way your complaint has been handled, you can use the Online Dispute Resolution Platform (ODR) to submit your complaint for an independent assessment – http://ec.europa.eu/consumers/odr

Withheld documents
IMPORTANT: We may keep certain documents such as proof of no claim discount while we are awaiting payment of outstanding premium or administration charges. We will ensure that you have the documents you are required to have by law.

Renewal
We will invite your renewal with our most competitive insurer, however if you would prefer us to renew with your current insurer, please tell us. We will endeavour to tell you the premium and the terms and conditions for renewal within 21 days prior to your renewal date.
If you are paying by Direct Debit we may continue to collect the monthly instalments from your bank as usual for the forthcoming renewal, however please refer to your renewal documents for confirmation.
If you pay monthly instalments by any other method, you will need to contact us to arrange payment before your cover runs out.
Payments made by any other method. You will need to make payment to us by your usual method before your cover runs out.
If you do not receive your renewal documents by 14 days before your renewal date you should telephone Sureterm Direct on 01480 220 044.
Fraud prevention & detection
In order to prevent and detect fraud we may at any time:
> Share information about you with other organisations and public bodies including the Police;
> Check and/or file your details with fraud prevention agencies and databases, and if you give us false or inaccurate information and we suspect fraud, we will record this.
We and other organisations may also search these agencies and databases to:
> Help make decisions about the provision and administration of insurance, credit and related services for you and members of your household;
> Trace debtors or beneficiaries, recover debt, prevent fraud and to manage your account or insurance policies;
> Check your identity to prevent money laundering, unless you furnish us with other satisfactory proof of identity;
> Undertake credit searches and additional fraud searches.

Data protection
> For Data Protection Act purposes Insurance Factory Limited, trading as Sureterm Direct is the data controller. We will hold and process your personal data for insurance administration and marketing. For this purpose, the information may also be passed to selected third parties, insurers and reinsurers, and may be processed outside the EEA.
> Please note that telephone calls may be monitored or recorded.
> You understand that all personal data you supply must be accurate, and you have the specific consent of those other persons insured to disclose their personal data.
> At the request of many of our customers and to make managing your insurance more convenient, it is our policy to deal with your spouse or partner who calls us on your behalf, provided they are named on the policy. If you would like someone else to be able to deal with your policy for you on a regular basis please let us know. In some exceptional circumstances we may also deal with other people who call us on your behalf. If at any time you would prefer us to deal only with you, please call to let us know.
> We will use and disclose the information we have in the normal course of administering or arranging cover on your insurance policy and we use a third party to conduct customer surveys on our behalf.

Law applicable to the policy
You and we are free to choose the law applicable to this contract but in the absence of agreement to the contrary of the law of the country in which you are resident at the time of the contract will apply. If you are not resident in the United Kingdom, the law which will apply will be the law of England and Wales.

 

 

Sureterm Direct Terms of Business Agreement – November 2016 v112016.1.0