Pedal Cover

Terms of Business

This document details our services and our arrangements for dealing with your insurance. Please read it carefully and retain a copy for your records. The English language will be used for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract and this agreement shall be subject to English Law.

The Financial Conduct Authority is the independent watchdog that regulates financial services. Pedal Cover is a trading style of Kingswood Insurance Brokers Ltd, which is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 550254. You can check our status at https://register.fca.org.uk or by contacting the FCA on 0800 111 6768. Our permitted business includes arranging, dealing in and assisting with the placing and administration of General Insurance policies, and credit broking which is limited to the broking of credit agreements related to insurance premiums.

If you need a hand with anything, get in touch:

call:0800 121 4424
email: enquiries@pedalcover.co.uk
write:  The Old Mill, Ewenny CF35 5BN

Privacy statement

We are a data controller, and our data protection officer is Nicholas Cole.

We act as your agent and will collect data, including personal information and risk details, solely to enable us to obtain and provide insurance quotations, arrange and administer your insurance.

Data collected by us is contractual, and for our legitimate business interests as an insurance broker. We will be unable to offer any quotation or insurance if you refuse to provide certain personal data, including health, financial and criminal records data which we collect under the lawful basis of public interest, where these would affect the provision of cover and/or performance of insurance contracts.

Your information will be held securely by us and shared with insurers, and anyone else involved in the normal course of arranging and administering your insurance which could include reputable providers outside the EU.

To enable us to provide accurate terms and we will also obtain data about you and your insurance history from various insurance anti-fraud databases, such as the Claims and Underwriting Exchange (CUE) as well as publicly available websites and credit referencing agencies. We will also share your contact information with The Plan Group Limited, who help us send relevant newsletters and updates on our service and other products available. We will not give anyone else your personal information except on your instructions or authority, or where we are required to do so by law, or under regulatory requirements.

Information about you and your insurances are held while you are a client,  and up to six years, after the expiry of your policies.

Under the Data Protection Act, 1998 data subjects have the right to see, and correct, personal information about them that we hold. Please write to our data protection officer at our usual office email address if you wish to exercise your rights or have a complaint about our use of your data.

Service and products

We act as an insurance intermediary, not an insurer.

In relation to our Pedalcover Home and Bike policy we only offer the product with one insurer.  We source and arrange this product and provide information but do not offer advice or make a personal recommendation when arranging your policy.  However, we may ask some questions to narrow down the selection of products on which we will provide details; you will then need to make your own choice about how to proceed.

When placing your policy with this insurer we act under a delegated authority agreement for both underwriting and claims and therefore act as agent of the insurer for these activities.In some cirumstances we will act on your behalf when arranging your insurances, when helping you make any changes to your policy, when you renew your insurance and in the event of a claim. 

We provide a personal recommendation and select personal insurances from a fair and personal analysis of the market, but for certain products, we only select products from a limited number of insurers.

We will not in any circumstance guarantee the solvency of any insurer.

Reporting claims

As part of our service, we will assist you with any claim you need to make and help you understand your responsibilities.

All incidents which could lead to a claim must be reported as soon as practicable. All information relating to claims can be found HERE.

Payments & Handling of money

We accept payment by credit/debit cards – Visa, MasterCard. You may be able to spread your payments through a credit scheme, which we have arranged with Premium Credit Ltd. Rates and acceptance will be subject to a credit check.

We will give you full information about your payment options and the appropriate finance agreement before we finalise your insurance contract.

Under the terms of our agreements with the Insurance companies with whom we place business, we act as agents of the insurer in collecting premiums from you and handling money due to you. This includes refunds and claim payments (where we act as agent of the insurer in relation to claims). Such monies are deemed to be held by the insurer with which your insurance is arranged.

We do not pay any interest on premiums held by us in the course of arranging and administering your insurance.

Fees and charges

We normally receive commission from insurers, product providers and, where applicable, finance providers.

  • Any commission we receive will be paid by the insurer or product provider from the insurance premium.
  • Any commission we receive from the premium finance provider will be paid from the finance repayment.
Arranging new policies£50
Mid-term adjustments£15
Renewals£50
Replacement/duplicate certificates or cover notes£NIL
Mid-term cancellations£30

We may also make additional charges specific to the arrangement & servicing of policies (e.g. claims handling), but these will always be advised to you in advance.

How to complain

This document details our services and our arrangements for dealing with your insurance. Please read it carefully and retain a copy for your records. The English language will be used for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract and this agreement shall be subject to English Law.

The Financial Conduct Authority is the independent watchdog that regulates financial services. Pedal Cover is a trading style of Kingswood Insurance Brokers Ltd, which is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 550254. You can check our status at https://register.fca.org.uk or by contacting the FCA on 0800 111 6768. Our permitted business includes arranging, dealing in and assisting with the placing and administration of General Insurance policies, and credit broking which is limited to the broking of credit agreements related to insurance premiums.

If you need a hand with anything, get in touch:

call:0800 121 4424
email: enquiries@pedalcover.co.uk
write:  The Old Mill, Ewenny CF35 5BN

The Financial Services Compensation Scheme

We are covered by the Financial Services Compensation Scheme (FSCS). Insurance advising and arranging is covered for 90% of the claim, without an upper limit. For compulsory insurances (e.g., motor insurance and employers’ liability insurance), insurance advising and arranging is covered for 100% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.

Responsibility to provide information

You are responsible for answering any questions in relation to any proposal for insurance cover honestly and to the best of your knowledge, providing complete and accurate information which insurers will require. This also applies to your responses in relation to any assumptions you may agree to in the process of applying for insurance cover. If any information that you have provided to us changes before you take out your insurance, during the life of the policy or at renewal, you must inform us of the change. If you deliberately, recklessly or carelessly misrepresent any information in relation to this insurance then your policy may be cancelled without refund, or treated as if it never existed, or your claim rejected or not fully paid.

Right to cancel

You have a legal right to cancel your policy or credit agreement at any time for any reason.

If you do so either before or within 14 days of the policy start date, you will receive a full refund of your insurance premium. The refund will also include the arrangement fee we charged when setting up your policy. A charge for cancelling your policy will be applied as stated in the Fees and Charges section of this document.

If you cancel your policy more than 14 days after the policy start date, You will receive a refund of your premium less a pro rata calculated charge for the period of cover provided. The refund will not include our initial arrangement fee. A charge for cancelling your policy will also be applied as stated in the Fees and Charges section of this document.

No refund will be provided following cancellation of any kind where you have made a claim or where a claim has been made against you during the period of insurance.

If you wish to cancel a policy you must advise us in writing.

If you cancel a credit agreement you will need to repay any sums provided in full

Premium finance facilities and service

We are a credit broker, not a lender. We may use insurance and finance providers who will conduct a credit check and share your payment record with other lenders, all of which will be recorded on your credit record. Please contact us if you do NOT consent to a credit check being undertaken, however this may affect our ability to offer instalment facilities to You. In relation to the provision of credit, we offer only the facilities provided by Premium Credit Ltd from whom we may receive a commission. We will not offer you any advice on premium finance facilities available through us and you will need to decide yourself on the suitability of any credit agreement offered. Please Note: Your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it and your credit rating may be affected. In entering into a credit agreement to pay your insurance premium, you give the finance provider the legal right to cancel your insurance policy on your behalf in the event that you default on the loan, and offset any refunded premium against the outstanding amount owed to them. This means that if you default on your payment terms and the finance provider requests that we cancel your policy, we will do so as your agent.

insurance premium, you give the finance provider the legal right to cancel your insurance policy on your behalf in the event that you default on the loan, and offset any refunded premium against the outstanding amount owed to them. This means that if you default on your payment terms and the finance provider requests that we cancel your policy, we will do so as your agent.