Duty of Disclosure and Fair Representation

If you are a business and your insurance policy is governed by English law, you must, at all times, act with utmost good faith towards your insurer. Before your policy is placed, at renewal, and when varying or extending the policy, you have a duty under the Insurance Act 2015 to make a “fair presentation” of the risk and you must disclose to your insurer all information, facts, and circumstances which are, or ought to be, known to you and which are material to the risk. In addition, if your policy contains a particular clause stating that any change in circumstances must be advised to your insurer, you will also have to disclose certain information during the policy period.

When providing information or completing a proposal form or otherwise confirming any information to your insurer, you should take care to ensure that the details provided are complete and accurate.

Even where an online applications is used, you should note that your duty to make a fair presentation is not confined to answering the specific questions listed in the form and/or asked by us or your insurer and that all material circumstances should be disclosed to your insurer, regardless of whether or not your insurer has asked for the information.

Any deliberate or reckless misrepresentation may involve either part or your entire claim being declined and, in some circumstances, the Insurer may be entitled to retain your premium whilst avoiding the policy. They may also be entitled to apply additional terms to your policy.

Suitability

This product satisfies the needs of any sole trader, micro enterprise, limited company or other commercial entity based in the UK hiring equipment up to the value of £100,000 for 30 days or less (plus delivery and collection as agreed) and with ongoing hire charges of £25,000 or less.

Significant Exclusions

This product does not provide cover for airborne or waterborne vessels or for any equipment outside the UK.

Scope of Services

Non-advised

You will not receive advice or a recommendation from us. We may ask you some questions to narrow down the selection of products that we will provide information on, but you will need to make your own decision on how to proceed.

Capacity

We act as your agent when sourcing a policy, placing the insurance and in the event of a claim. We are acting on behalf of the Insurer when we collect your premium; where this occurs in other circumstances, we will advise you at the time.

Selection

We only use a single insurer for the product you have selected. For this product, we have arranged an insurance facility on your behalf which is solely provided by Great American International Insurance (UK) Ltd.

Source and type of fees

We arrange the policy with the insurer on your behalf. You do not pay us a fee for doing this; we receive a commission from the insurer which is a percentage of the total annual premium. 

Cancellation

Due to the nature of this insurance policy, no refund will be issued if the policy is cancelled after delivery of the hired equipment.

If the policy is cancelled before the delivery of the hired equipment, a full refund will be made.