Customer FAQs

Frequently asked questions

Getting the answers you need is easy.

Our most commonly-asked questions are listed below, but if you can't find the answer you're looking for, you can contact us directly.

Q. What insurance policies do you finance?

A. We cater for the two principal types of premium finance: personal and commercial lines.

Q. Who do you provide finance for?

A. We provide the finance facility to brokers who in turn offer this to their clients.

Q. What are the benefits of using premium finance?

A. Premium finance allows you to spread the cost of your insurance and frees up your money for other uses.

Q. Is there much paperwork?

A. Your broker can access our service online, therefore paperwork is kept to a minimum. All you need to do is return a signed Running Account Credit Agreement to us.

Q. How flexible is the system?

A. If you want to change your repayment date or add another policy to your premium it can be dealt with electronically, with one call to your broker. If you're a personal lines customer and you want to change your address, or the date on which we take your direct debit, for example, we can easily alter your payment plan to suit you.

Q. How do I renew?

A. We will invite you to renew through your broker, well in advance of your renewal date. You will not be required to sign any further documentation unless you need to change your bank or personal details.

Q. Am I tied to any insurance company?

A. Close Brothers Premium Finance is independent so your broker is free to recommend the best policies. We simply forward the funds for your premium to your broker who then forwards it to the insurance company you've chosen.

Q. How do I pay?

A. All monthly instalments are paid by direct debit. If a deposit is required, your broker will discuss payment with you. A number of options may be available.

Q. Who do I contact to make changes to name, address, premiums or account details?

A. To update your details, you should contact your broker in the first instance. The only exception is changing direct debit details, where you should contact us as soon as possible to ensure your monthly payment does not default. Please note that you may need to complete a form in some instances.

Q. What is a Running Account Credit Agreement and why do I need to sign and return one?

A. A Running Account Credit Agreement is the credit agreement between you and Close Brothers Limited (trading as Close Brothers Premium Finance). It sets out the terms and conditions of the credit agreement and is regulated by the Consumer Credit Act 1974.

If you did not sign a credit agreement at point of sale with your broker, we will have provided two copies within your welcome pack. Please read, sign and return one copy of the credit agreement using the pre-paid envelope provided and retain the other for your records.

Failure to sign and return the credit agreement could lead to the cancellation of your credit facility and may ultimately affect your insurance cover.

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