Discussion
Hi, It is Ann Manning of A Manning UK Limited your insurance brokers for the TVR CC Insurance Scheme.
News just in regarding Days of Grace. Previously insurance brokers and companies allowed you 15 days to pay your insurance premiums. This is being withdrawn by most companies with effect from 1st November 2004.
What this means is if the premium is not paid on or before the renewal date then the cover ceases. You cannot pay the premium after the renewal date. So guys if you have an accident you will not be indemnified if your premium has not been paid!
As brokers we are duty bound to send out your renewal information at least 14 days before renewal date although as a company we aim for 4 weeks, or as soon as we have received the information from the insurers.
The reason for this is all down to Europe and the Motor Insurance Database. It will be a requirement that insurers submit details of all motor transactions within 14 days to the database.
If anyone has any questions I will be happy to help.
Ann Manning
News just in regarding Days of Grace. Previously insurance brokers and companies allowed you 15 days to pay your insurance premiums. This is being withdrawn by most companies with effect from 1st November 2004.
What this means is if the premium is not paid on or before the renewal date then the cover ceases. You cannot pay the premium after the renewal date. So guys if you have an accident you will not be indemnified if your premium has not been paid!
As brokers we are duty bound to send out your renewal information at least 14 days before renewal date although as a company we aim for 4 weeks, or as soon as we have received the information from the insurers.
The reason for this is all down to Europe and the Motor Insurance Database. It will be a requirement that insurers submit details of all motor transactions within 14 days to the database.
If anyone has any questions I will be happy to help.
Ann Manning
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