Covid-19 - press reports
There has been a lot of commentary in the press about the new rules the FCA have bought in to help support customers who have become financial vulnerable due to Covid-19
We have also witnessed some big brand names giving back £25 to customers in recognition of customers having not driven the miles they would have expected to.
- Brightside is a broker of insurance, they are not the underlying insurer, meaning we don’t have ability to offer “money off” schemes to customers. This is because any money off relates specifically to the premium paid which isn’t controlled by us, but by the insurer.
- Brightside is fully supporting the FCA guidelines and if a customer expresses financial vulnerability due to Covid-19 we are helping them to navigate their way through with the support of Close Brothers Premium Finance who offer the loan agreement.
- Customers can downgrade their cover if they think this is the best option for them.
- At the point of renewal, customers have the option to revise their insurance cover if they think their current provision no longer meets their demands and needs.
Frequently Asked Questions
Q: Will I be getting some money back from you, like other insurers have done?
A: We won’t be offering any money back because of Covid-19. If you do think you’re now financially vulnerable due to the pandemic we can talk through your options.
Q: How can I reduce my premium?
A: We can’t guarantee there will be a reduction in premium but we can look to reduce your mileage if you haven’t been using your vehicle, or you are now no longer commuting, and look to remove any young or higher risk drivers if they aren’t using the vehicle. Just please remember that adding them back on at a later date may result in an additional premium.
Q: I am struggling with my payments
A:. There are a few options open to customers who have been financially impacted by Covid-19. We recommend you speak to Close Brothers Premium Finance in the first instance. Please do remember that if you do decide, with Close Brothers Premium Finance, to defer payments this will increase the remaining instalments.
Q: Can I cancel my policy to save money?
A: Brightside can cancel your policy if you are not using your vehicle at all as long as you have declared to the DVLA it as SORN/off the road which will save you money on vehicle tax also.
Please note having no insurance on your vehicle means it will not be covered for damage, fire or theft.
Q: I want to make a complaint because I don’t feel i have got the compensation I expected
A: If you would like to make a complaint, we would recommend you speak directly to your insurer. Contact details can be found in your policy wording.