All you need to know about your renewal
The information on this pages offers details around your renewal; the process, what you agreed to and the options available to you. We ask that you read this information before contacting us.
Here is a quick summary of what we cover on this page :
(1) Your policy and documents
(2) Before You Purchase
(3) Fee & Charges
(4) What you purchased
Your policy and documents
It is important to note that you have entered into two contracts. Your Policy, which includes the Policy Wording, Policy Schedule and Insurance Product Information Document (IPID), which constitutes your contract between you and the Insurer and the Terms Of Business, which constitutes your contract between you and your Broker, that’s Nova Direct. You are bound by both of these contracts.
The Policy Wording and IPID are both available prior to purchase and linked from the Cover Selection page, see an example below. However for reference we do email these documents to you immediately after purchase and they are also available online under the Policy Documents page found in each product section of the website.
The above is an example using our Breakdown Cover, however the process is the same for all products with the exception of car, home, travel and van insurance.
Before You Purchase
We understand that insurance, at times, can be complex so we extract some key terms and conditions and highlight right before purchase. These are detailed in the Your Agreement section and cover Key Terms & Conditions, Cancellation and Refund Policy, Data Protection and Renewal Process.
To quote from the Renewal Process section it says “Nova Direct will email you before your renewal date giving you full details of your renewal, including the premium for the year. Providing none of your details have changed, you won’t need to do a thing as your policy will be automatically renewed. To ensure continuation of cover, and according to your continuous payment authority which you grant to us, your card will be charged up to 7 days prior to the expiry of your policy. To opt out of auto-renewal an administration fee is payable prior to the renewal of your policy.”
We ask you to read and agree to the Terms And Conditions, Finance Terms (if applicable) and Policy Wording before purchasing. All 3 documents are linked so you have the option to read them in full prior to purchase. Agreement is mandatory and you cannot complete the purchase without agreeing to the terms and documents mentioned.
Finally we do mention the renewal process is several other places, all available prior to purchase. This includes the Insurance Product Information Document (IPID) where we say “The policy is renewable each year”.
Fee & Charges
At Nova Direct we want to be open, upfront and transparent about when, and if, you will be charged for an action and the cost of such. For this reason we have a dedicated Fees & Charges guide that does exactly that. We link, and make reference, to this guide in the Your Agreement section mentioned above.
This guide is in addition to clauses under the heading Our Services in your Policy Wording were we also state our service charges, the exact fee(s) and when you would be charged them. Finally it is important to remember that any charges are not relevant to the length of time you have had cover or purchase price, but more about the costs we incur to take the action(s).
What you purchased
Whilst we try and stick to plain English there is an important legal term called Caveat Emptor which covers the sale of all Nova Direct polices online. It’s the principle that the buyer alone is responsible for checking the quality and suitability of product and/or service before a purchase is made.
When purchasing online it is classed as a non-advised sale as the advice of Nova Direct was not offered or given to make the sale. This means it is upto you, and you alone, to read all the documentation prior to purchase and ensure the product mets your requirements.