Our Guide to Our Terms Of Business

Main Points

• Our Terms of Business is the agreement between you and us, as your broker.
• It explains services, costs, and how the broker is paid.
• This sets out fees, cancellations, refunds, and refund timescales.
• They also cover renewals, including auto-renewal and payment handling.
• It clarifies your responsibilities so your cover stays valid.
• It explains how to complain and escalate if needed.

Our Terms of Business (TOB) can look like heavy reading. Especially since there is a lot of jargon. Don’t panic, it’s really just the “how this works” document between you and us as your insurance broker. If you know what to look for, you can skim it confidently and still pick up the details that matter most to your policy, your money, and your cover.

With that being said, it’s worth breaking down a TOB and its main points to ensure everyone can understand what they are. In this blog, we’ll explain what our TOB means, why they are important and of course, how they impact your cover. 

What are your Terms of Business?

A TOB is the agreement between you and us as your broker. Think of it as the ground rules that explain how the relationship works, what you can expect from us, and what we need from you in return.

Our TOB sets out how we act as your insurance broker. It explains what we’ll do for you, how we’re paid (commission and any fees), how cancellations and refunds work, what information you need to give us to keep your cover correct, and what to do if you ever need to complain. The aim is simply to ensure total transparency, so everyone knows where they stand.

What is explained in the Terms of Business?

In our TOB, you’ll find clear information on:

• Who we are and who regulates us.
• What we do for you and what we don’t do.
• Whether the sale is advised or non-advised.
• The insurers and products we can use.
• How we are paid, including commission and finance.
• Fees and charges.
• How money is handled, including premiums and refunds.
• Cancellations, refunds, and renewals.
• Your responsibilities, so your cover stays valid
• Complaints and the protections available

A TOB can be a hefty read. We encourage customers to read it, but we understand it can look a bit intimidating at first glance. So, what should you look for, and what should you keep in mind when shopping for insurance? Let’s break it down.

What you need to look for in our TOB.

If you’re shopping for car insurance or motor trade insurance, start with the practical parts that most often people miss.

First, scan for the total cost and how it’s made up. That includes any broker arrangement or administration fees, including renewal fees and mid-term change fees. Also check what happens to commission if a policy is changed or cancelled. Some TOBs explain that the broker keeps their full commission and any insurer refund is reduced accordingly, so it’s always worth understanding how your policy handles this.

Next, look at payment methods and how they impact refunds. If you use premium finance, any return premium may be applied to the finance balance first. Refunds can also take weeks, and sometimes longer, once the insurer has released the money back.

Then read the sections on cancellations, refunds, and renewals. Check the cancellation fee, which fees are non-refundable, and any exclusions.

Finally, if you’re a motor trade customer, pay close attention to your responsibilities around providing accurate and complete information, often referred to as fair presentation. It’s also worth noting claim notification expectations, because getting key details wrong can affect a claim and in some cases can lead to a policy being voided.

Common questions we’re asked about our Terms of Business

To make things easier to find, here are some of the most common questions we get about the TOB, along with the answers customers usually need.

Why have I been charged a cancellation fee?

If the policy is cancelled by you or the insurer, or broker, a cancellation fee of £85 is charged unless the policy is replaced through One Sure. Any previously charged fees are non-refundable.

I found a cheaper quote. Can I cancel and get a full refund?

If a cheaper like-for-like quote is found within 48 hours, with written proof, you can cancel with a full refund of premium and administration fees.

Why is my refund taking so long?

Refunds are only issued once monies are received from insurers. This can take up to six weeks, and for some insurers up to six months.

I’m on monthly instalments. Why didn’t I get the return premium back directly?

Where a finance agreement exists, any return premium is used to reduce or clear the finance agreement first. Any remaining balance is returned afterwards within the refund timescales.

Why were extra amounts or debit balances taken?

If a debit is applied, we may use a previously authorised card to settle the balance. Customers must pay debit balances promptly, and card settlement may be used if payment isn’t made.

For more information on payments, read our article: How To Make A Payment.

My policy renewed automatically, and payment was taken. Why?

When you pay by monthly direct debit, credit card, or debit card, we may automatically renew where possible unless you inform us otherwise. Rest assured, you will receive plenty of notice about an impending renewal, and we always check for a cheaper option to ensure your renewal will be what you need for a lower price when possible.

For details on renewals, read our article: How Do I Renew My Insurance?

You keep contacting me. Why are you using my data like this?

Personal data is used to provide broker services and to manage future communications. Where the customer has agreed, or where it is in mutual interests, data may be used to provide information about wider products and services.

How do I complain, and can I go to the Ombudsman?

Customers can contact the Complaints Officer using the address, phone, or email details provided. We will follow our complaint procedures. If you’re still dissatisfied, eligible complainants may refer the matter to the Financial Ombudsman Service. For more information on the complaints process, read our article: How Do I Complain?

Why did you cancel my policy?

One Sure reserves the right to cancel in certain circumstances, giving a minimum of 7 days’ notice. Reasons can include non-payment, credit agreement issues, deliberate failure to comply, misrepresentation or fraud, or threatening or abusive behaviour toward staff or suppliers.

For more information on cancellations, read our guide: Insurance Refusals, Cancellations & Voided Policies.

Why was my claim impacted, and why is the accuracy of information such a big deal?

Commercial customers have a duty to give a fair presentation of risk and disclose material circumstances. If this duty isn’t met, insurers can apply remedies. These can include voiding the policy and keeping the premium where the failure was deliberate or reckless, or reducing claims or amending terms where it wasn’t.