We're here to help
We know this is a very difficult time for many of our customers and we’re here to help. If you’ve been affected financially by COVID-19, please get in touch with our team as we have a number of options which may allow you to continue protecting your instrument and equipment. These options include:
Reducing cover level to meet your current needs (e.g.
moving to Premises only cover)
Removing any add-ons which are not currently required (e.g. Unattended Vehicle or Public Liability & Personal Accident)
The option of a 1 to 3 month payment delay. Find out more below:
What is a payment delay?
A payment delay/deferral/holiday is where we agree to delay collecting your insurance premiums for up to 3 months. However premiums will still be owed at the end of this period, not written off. You can choose whether you would like to delay collection of your premium for 1, 2 or 3 months.
Am I eligible for a payment delay?
A 1, 2 or 3 month payment delay is available for customers who have made at least one payment on their policy since taking out cover and pay by monthly direct debit. If you pay annually and would like to talk to us about switching to direct debit at your renewal then please get in touch.
How do I pay back the premium owed?
The payments that you request to delay payment for will be spread evenly across the remainder of the payments you have on your policy. For example, if after the delay you have 4 months left on your policy we would divide the premium you owe us between these months and add it to your normal monthly premium. This will be different for customers who renew in this time (please get in touch to understand the options available if this applies to you.)
What happens to any claims I make?
Protecting you and your instruments is our key priority so we will continue to pay your claims as normal in this period. However, if you claim whilst you are not paying your usual monthly premiums but you cancel your policy at the end of the delay period without paying the outstanding money owed, we reserve the right to ask you to pay us back any monies paid out in relation to claims in this period.
How quickly will this delay be started?
Normally we send a request to your bank to collect your payment before your scheduled payment date to ensure that we collect it on time. Unfortunately this means that if you have less than 5 working days left before your next payment is due to be collected, we'll be unable to stop this collection and instead will delay the subsequent payments.
How do I request a payment delay?
Simply email us at email@example.com and include the words ‘Payment Delay’ in the subject of the email. We also ask that you provide the:
Registered address of policyholder
Length of payment delay request (1, 2 or 3 months)
Our team will send you a confirmation email once this has been completed and you will also receive an updated payment schedule which will confirm your premium collection dates and amount (please note the payment schedule will be sent to you by your previously chosen method i.e. email or post.)