COVID-19

At present many people are concerned about the future of their businesses due to
Covid-19 and the effects of the measures being put in place by the government.

We ourselves are also feeling a significant impact from this so can very much
emphathise with the position many people are in.  

Please find below some answers to common questions we are being asked:



CLOSE BROTHERS PREMIUM FINANCE
If you feel that you will struggle with your direct debit payments
Close Brothers are asking that you contact their customer services department 
on 0333 321 8566 to discuss how they can help going forward.





BUSINESS INTERRUPTION COVER
There are lots of people asking if their business insurance covers them 
for Business Interruption during this COVID-19 Pandemic.

 Sadly for almost every business in the UK, there will be no Business Interruption 
policy that will cover them against a pandemic, such as we are now enduring.  

Most business insurance policies are designed and priced to cover risks, 
such as assistance following a fire or flood not situations such as the COVID-19 pandemic.


Article from Insurance Age - Association of British Insurers 



CHAUFFEUR INSURANCE COVER

If you have a chauffeur policy with AC, the options to you are as follows:

Insurers have stated that these measures are being put in place to assist at the time of the Covid-19 Pandemnic 
They would be happy to re-increase the cover back up when business picks back up. 
They would not allow for cover to repeatedly be reduced and increased again. 


REDUCE COVER 
TO THIRD PARTY FIRE & THEFT



Reduce cover on one or more vehicles 
to TPF&T (Third Party Fire & Theft)

Vehicles would NOT need 
to be declared SORN with DVLA

Not available to vehicles already 
on a limited mileage/cover option

Maximum vehicle value £30,000

Windscreen cover would be excluded 

Accidental Damage would be excluded

We would need to wait for refund from insurers (typically 30 days) before we can allow it back to you or to reduce your direct debit payments

REDUCE COVER 
TO LAID UP COVER 
(not available with all insurers)


Fire and Theft only

No road use on any vehicles 

Vehicles would need 
to be declared SORN with DVLA

Minimum annual premium 
of £280.00 (Inc IPT) per vehicle


We would need to wait for refund from insurers (typically 30 days) before we can allow it back to you or to reduce your direct debit payments




REDUCE COVER 
ON PART OF YOUR FLEET



Remove some vehicles 
but leave at least one or more 
vehicles on cover to keep the policy active 

Any removed vehicles would need 
to be declared SORN with DVLA


We would need to wait for refund from insurers (typically 30 days) before we can allow it back to you or to reduce your direct debit payments






CANCEL COVER




Cancel the policy in it's entirety

Not always a quick fix as we would still have to wait for your refund to come from insurers

This can take approx 30 days

Also, once business picks back up it will be a more lengthy process to get cover back in place than keeping your policy live









LOSS OF RENT ON PROPERTY OWNERS INSURANCE
This is intended to provide cover following an insured event. 
As Pandemic is not an insured event, this would not trigger.

RENT GUARANTEE COVER
New policies would not cover for loss of rent
Existing policies would be on case by case basis.



The government is issuing daily bulletins with plans to help some businesses so it's always 
worth checking the government website to see if there is any assistance available. 





SHOULD YOU STILL REQUIRE ASSISTANCE 

CALL - OFFICE ON 0115 9455447 

EMAIL - admin@acinsurance.co.uk