Coronavirus Frequently asked questions

Frequently Asked Questions – 31.03.2020

At Tradewise Insurance Services Limited we understand these unprecedented and unique circumstances being faced by so many in the Country.

In order to offer our clients all the help and assistance possible, we’re publishing a list of the most frequently asked questions and our advice in response to them. We will continue to update our website with more FAQs and answers, as it becomes necessary.

My income has recently been affected and I don’t think I will be able to meet my monthly Direct Debit payment to Premium Credit Limited are you able to offer me a payment holiday ?

If you pay Monthly by Direct Debit to Premium Credit Limited, unfortunately they are unable to offer a payment holiday, break or defer payments. This is due to a combination of reasons.

1.    The duration of the Insurance Contract
2.    The duration of the Finance Agreement

However, we’ve discussed with our finance provider Premium Credit to see if default / missed payment charges / fees can be suspended or waived during the current situation, they have agreed to review each case on an individual basis and you should contact them to discuss this.

IMPORTANT – If your Broker arranged the Finance for you, you will need to discuss arrangements with them.

Does my policy cover me to use my vehicle for volunteer work during the current pandemic  

Yes, we have received approval from our Underwriting Partners that those carrying out voluntary work for Local Community Schemes, the National Health Service (NHS) or the Red Cross will be covered to use their vehicles to support the effort, such as transporting medicines, other vital supplies or groceries to aid those affected by COVID-19.

For further details, please see the link below.

You will not need to take any action and this will apply to all Motor Policies arranged through us.

I am a Key Worker, will my policy let me use the vehicle in connection with this ?

Yes we will and provided they’re named on the policy we will also allow your spouse, your business partner and their spouse to use vehicles insured under the policy for essential key worker duties.

Please note this only applies to those who’s other occupations have been declared to us and those occupations are on the official list of Key Workers as published by HM Government

You will not need to take any action and this will apply to all Motor Policies arranged through us.

I’m not driving at the moment, can I suspend my Insurance Policy or will you provide laid up cover ?

Unfortunately not, it’s also really important we remind you that even if you are not driving at the moment, it remains a legal requirement that any vehicle kept, used or driven on the public highway is appropriately insured against Third Party Liabilities.

However, should you wish to cancel your Insurance Policy, provided there have been no incidents, accidents or claims (whether reported or not) during the current Insurance Period, we will be able to provide a Pro Rata cancellation.

Can I get a discount if I restrict the use to just Social Domestic and Pleasure?

Unfortunately not, like the very situation we’re in, things change on a day to day basis. So whilst today you may not need to use your vehicle for all the uses permitted by the policy, your circumstances could also change on a day to day basis.

Is it true the Government have extended the length of MOTs by 6 Months ?

Yes, if your MOT is due after 30th March 2020 the Government have now provided an extension of 6 Months before you need to MOT your vehicle.

As an example, if your MOT is due 15th April 2020 you now have until 15th October 2020 before it needs an MOT.

However, it’s really important we remind you to keep your vehicle in road worthy condition. An example of this would be ensuring any advisory notes from the last MOT have been carried out.

I’ve had a claim, when can I expect to receive payment ?

Even in these difficult circumstances, all of the insurers we deal with, are still operating their businesses. We have discussed with them the urgency of ensuring clients receive their payments at the very earliest opportunity and they’ve agreed to handle these as quickly as possible. In addition they will also be looking to make payments by BACS to help you get your payment sooner.

However, it is difficult to give people timeframes as situations, such as available staff numbers may change from one day to the next. However, we want you to be assured we’re closely monitoring the situation.

I’ve had a claim, how long will my repairs take ?

Unfortunately these could take longer than usual, with various business following Government guidance and closing, the availability of garages and supply of materials may be affected by the current situation. We will continue to work with our Insurers and various claims handling partners to ensure the process is handled in the shortest time possible.

We’ve also provided some useful links, which we believe will also help.

Association of British Insurers

HM Government

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