Terms of Business Retail & Business Clients

1. Accepting our Terms of Business - By asking us to quote for or arrange your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to the section headed ‘Confidentiality and Data Protection’ (specifically the sub-section titled ‘Credit checks’).

These Terms of Business come into force on the date you receive it from us and will remain in force until you are provided with revised terms; they set out the terms on which we agree to act for you and contain details of our regulatory and statutory responsibilities. Please contact us immediately if there is anything in these terms of business that you do not understand or with which you disagree.

2. Regulation - Compare The Policies Limited is authorised and regulated by The Financial Conduct Authority (FCA). Our Financial Services Register number is 759663. Our permitted business is arranging, dealing as agent and making arrangements for the performance of insurance contracts. These details can be checked on the FCA’s register by visiting their website, register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.
We are registered with The Information Commissioner’s Office (Data Protection) under Registration No. ZA205630. Calls may be recorded for quality and training purposes and to give you the best possible service.

3. Our Service - In arranging insurance for our customers, we act on your behalf as an intermediary (not an insurer) and have access to a range of insurers within the market. We source and arrange products and provide information but do not offer advice or make personal recommendations when arranging your insurance. We will ask questions to narrow down the product we provide details on. You will then need to make your own choice about how to proceed. We can also assist you with making a claim. We will give you full details of any such arrangements before you make any commitment on any product.
We are not under any contractual obligation, but we only select products from a limited number of insurers or a single insurer as follows:



Term Assurance, Whole of Life and Critical Illness

Aviva, Legal & General, LV=, Royal London

Guaranteed Over 50’s Insurance

Family Assurance Friendly Society Limited

Income Protection

Exeter Friendly Society Limited


4. Disclosure - It is your responsibility to provide complete and accurate information to us and Insurers when you take out an insurance policy, throughout the life of the policy and when you renew your insurance. Failure to disclose facts; pertaining to your insurance, or any inaccuracies in information given, could result in your insurance being invalid or cover not operating fully. 
This also applies to your responses in relation to any assumptions you may agree to in the process of applying for insurance cover.
It is important that you ensure all statements you make on Proposal Forms, Claim Forms and other documents are true, full and accurate. If a form is completed on your behalf, you should check that the answers shown to any questions are true and accurate before signing the document. You are advised to keep copies of any correspondence you send to us or direct to your Insurer.
If you are unsure about any matter, please contact us for guidance.

5. Confidentiality & Data Protection - All personal and sensitive information about our customers (‘personal data’) is treated as private and confidential. Unless we are notified of any changes, we shall assume the personal data we hold about our customers is correct. In the interest of security and to improve our service, telephone calls may be monitored and/or recorded for training purposes.
Where we process personal data, we comply with statutory data processing requirements as set out by the Data Protection Act 2018.  The personal data we will collect will include information relating to your name, address, date of birth, contact details and your health.

We will process your personal data to allow us to provide you with our services as your insurance broker in quoting for and arranging insurance (and in arranging insurance premium finance where applicable). Your personal data will also be used to manage future communications between ourselves. Where you have agreed, or in circumstances where to do so will be in our mutual interests, your personal data will be used to provide you with further information about our wider products and services. You can opt out from receiving such communications by contacting us.

In processing personal data, for insurance purposes, about your health or medical history, we will only do so to enable us to provide our service to you and on the basis of it being in the public interest.

Data will not be transferred by us to any other firm or company with the exception of Insurers, premium finance providers and our Compliance Auditor (Thistle Initiatives Limited). We may also provide information to our regulators and their successors (where we are required to do so by law).

The Data Protection Act 2018 provides you with Access Rights that allow you to gain an understanding on the data being processed, who we share it with, for what purpose, why we need to retain it and retention periods, to object to the processing and to place restrictions on the processing, to request copies of your data and to request the deletion of your data.

If you require further information on how we process your data, or you wish to exercise your rights, please contact our Data Privacy Representative. How we process your personal data is detailed further within our Privacy Policy.

Credit checks
Other firms involved in arranging your insurance (insurers) or premium finance companies may use public and personal data from a variety of sources including credit reference agencies and other organisations.  The information is used to help tailor a price, to ascertain the most appropriate payment options for you and to help prevent fraud.  Any credit reference search will appear on your credit report whether or not your application proceeds.  We will pass information about you and details of your payment record with us to credit reference agencies for the purpose of arranging payments by instalments. If you have any questions about this or any other matter, please do not hesitate to contact us.

6. Complaints - It is our intention to provide you with a high level of customer service at all times. If there is an occasion when we do not meet these standards and you wish to register a complaint please contact us by writing to: Complaints Department, Compare The Policies Limited - The Penthouse, 10 South Parade Leeds LS1 5QS. Or get in touch by telephone on 0113 819 5990.
When dealing with your complaint, we will follow our complaint handling procedures; a summary of these procedures is available on request.  If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). For further information you can visit FOS website www.financial-ombudsman.org.uk.
Access to the FOS is available for complainants coming within one of the following categories at the time we receive their complaint:

  • Consumers (private individuals acting for purposes which are wholly or mainly outside that individual's trade, business, craft, or profession)
  • Businesses employing fewer than 10 persons and with a turnover or annual balance sheet total not exceeding €2 million
  • Charities with an annual income of under £1 million
  • Trustees of a trust with a net asset value of under £1 million


7. The Financial Services Compensation Scheme (FSCS) - We are covered by the Financial Services Compensation Scheme (FSCS) for our insurance mediation activities.  You may be entitled to compensation from the scheme if we cannot meet our obligations.  This depends on the type of business and the circumstances of the claim.  If you are eligible to claim from the FSCS, compensation is available in relation to insurance advising and arranging as follows:

  • 90% of the claim, without any upper limit;
  • 100% of the claim without any upper limit for
    • compulsory classes of insurance (such as Third-Party Motor or Employers Liability); and
    • ‘pure protection’ contracts, professional indemnity insurance, and general insurance claims arising from the death or incapacity of the policyholder owing to injury, sickness or infirmity, all where the insurance intermediary has failed to pay money to an insurer, pay away money it has received from an insurer, or has failed to take steps to allow the insurer to effect the contract of insurance.

Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 (freephone) or 020 7741 4100 or www.fscs.org.uk.

8. Cancellation Rights and Charges - You have a legal right to cancel your policy for any reason, subject to no claims having occurred, within 30 days. In order to cancel please contact the firm in writing within the timing deadlines at the following address: Compare The Policies Limited - The Penthouse, 10 South Parade Leeds LS1 5QS.  If you stop paying your premiums or cancel your policy outside the 30 days cooling off period, you will not receive any refund of your premiums.
In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days’ notice. Valid reasons may include non-payment of premium or fees, failure to provide requested documentation or information, deliberate failure to comply with terms set out within the Terms of Business or insurer’s documentation, deliberate misrepresentation or non-disclosure or attempted fraud, use of threatening or abusive behaviour or language, or intimidation or bullying of our staff or suppliers.

9. Premium & Financial Aspects - We will give you full information about your payment options when we discuss your insurance in detail.
We will ensure that you receive full details of the insurance cover and will provide you with any documents that you are required to have by law.

10. Return Premiums - Returned premiums usually arise if an insurance risk is reduced or a policy cancelled. Once a premium is returned, we repay commission on the amount to your insurers.

11. Quotations - All quotations are subject to change in respect of the amount of premium indicated and/or the Terms and Conditions that are applied.

12. Policy Terms, Conditions & Warranties - You should read through all policy terms, conditions and warranties shown on your policy documentation.  Please ensure you understand them and are able to follow their requirements exactly. If not, please inform us immediately as a breach of any Terms, Conditions or Warranties may enable your Insurers to terminate your policy from the date of that breach and/or repudiate a claim under your policy.

13. Renewal Premiums paid by instalments - In good time before the renewal of your policy, we shall contact you with the renewal premium and terms for the coming year. If you have not contacted us before the renewal date, we shall renew the policy automatically on your behalf. If it is your intention to renew the policy, no action is required by you and the policy will renew automatically. If you do not wish to renew the policy, please let us know as soon as possible in writing. We should also advise you to cancel your Direct Debit instruction with your bank prior to the renewal date.

14. Policy Fees/Charges - Our remuneration will be a commission payment paid by the Insurer or by premium 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.

We charge no additional fees for placing insurance policies through us.
15. Commission Information - You can ask us for details of the commissions we receive in relation to arranging your insurance or any insurance premium finance. This will also be noted within your policy document. We shall only receive commission in accordance with agreements that we hold with Insurers and FCA regulations and guidelines.

16. Other Taxes & Costs - Other taxes or costs, or both, may exist in relation to the products and services offered by us which are not paid through, or imposed, by us.

17. Conflict of interests - Occasions can arise where we, or one of our clients or product providers, may have a potential conflict of interest with business being transacted for you.  If this happens, and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment. 

18. Claims handling arrangements - You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation.  Generally, our insurers require immediate notification of a claim or circumstances which might lead to a claim.  We will employ due care and skill if we act on your behalf in respect of a claim.  

19. Governing Law - This agreement shall be governed by the laws of England and Wales and the parties agree herewith that any dispute arising out of it shall be subject to the (non) exclusive jurisdiction of the English Courts.

20. Price Match Guarantee - We will never be beaten on price - If you get a quote cheaper anywhere else, we will not only match it but we will also give you up to £50 high street voucher for your trouble, dependant on the size of premium. The price match is based on a like for like insurance quote using Compare The Policies’ panel of insurers at the point of sale.

21. Recommend a friend vouchers - If you have been happy with our service and would like to recommend us to anyone else, you will receive up to £50 high street vouchers once their policy has been completed and in place for a minimum of 3 months.

Compare The Policies Limited.  Registered in England and Wales under Company No. 08127242. Registered office: The Penthouse, 10 South Parade Leeds LS1 5QS.


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