Insurance - Transfer of Agency Enquiry

This form is suitable if you have shop insurance, office insurance, surgery insurance, pub insurance, restaurant insurance, wine bar insurance or a take away.

Introduction

Most business insurance is arranged by intermediaries, who are paid on a commission basis. This is usually 20% or so but some larger brokers (and possibly banks) are paid more. This means that a substantial part of your premium goes in administration costs rather than actual cover. If you insure through a Direct company then the costs go in advertising and special offers for new business.

Our offer

We will administer your insurance policy (shop, office, surgery, clinic, restaurant, take away, wine bar etc) and reduce the amount so that the commission we earn is a flat £100.00 per location. We expect that this will produce savings if your premium exceeds £500.00

Terms and Conditions

1. We must have an agency with the insurance company providing cover (not the broker) - so no Direct companies.

2. We must be able to transfer the policy over to our agency.

3. If the commission we would earn is less than £100.00 we will accept transfers and the policy will be on a 100% commission basis. i.e. we won't increase the premium to make our commission £100.00.

4. We will not accept any liability if your policy has been set up incorrectly by your current insurance provider.

5. We will not accept any liability if you have failed to disclose material facts.

6. Should any adjustment be made to the policy we will deduct any commission claw back from a return premium

7. Any information that you send us will only be used for the purpose of transferring the policy to our agency.

8. Should you elect to go this route then the insurance will be arranged on a 'non-advised' basis.

Procedure

1. You provide us with details of your renewal. (Insurer, policy number, renewal date, type of policy and premium excluding administration fees)

2. We will e-mail whether we can do a transfer of agency and at what premium - assuming all details are correct..

3. If you do not wish to proceed, or we can't arrange a transfer you may wish to ask us for a bespoke quotation.

4. If you wish to proceed let us know - we will send you an agency transfer form and a proposal form so you can provide us with full details of the risk.

5. When we receive the transfer form in, we will submit your proposal form to the company to confirm that the premium/ terms they have quoted meet your current situation.

6. When the company confirm the premium/ terms we will advise you of any revised premium/ terms - a discount will still be offered so that our commission is £100.00.

7. If you accept the quotation then we will require payment of the premium by cheque - or we can organise premium finance if you require it. We will then submit the transfer of agency form to the insurance company.

8. When the policy is due for renewal we will invite renewal on a similar basis. The commission we take will increase by 5% or the rate of inflation whichever is greater - but in no circumstance will exceed the full commission on the policy.

Initial Enquiry Form (No Obligation)

You can find buy to let insurance at our home page if you are interested