Indemnity Insurance Terms and Conditions

Indemnity Insurance Terms and Conditions

	Head and Registered Office:	Pinnacle House Al Barnet Way Borehamwood Hertfordshire WD6 2XX
	Company Registered Number:	1007798
	Policy Number:	01779
	Date of Policy:	25/10/2003
	Policyholder:	Experian Limited
	Registered Office:	Talbot House Talbot Street Nottingham NG80 1TH

Car Data Check Insurance

THIS POLICY records that in consideration of the payment of the relevant premium in accordance with provisions hereof, PINNACLE INSURANCE PLC (hereinafter called "the Company") will provide Car Data Check insurance cover described in this policy in respect of the insured and will provide for indemnity as specified herein to the insured. Furthermore, this policy is subject to the terms and conditions set out below.

1. Interpretation

In this policy, except where the context otherwise requires:

"Agreement" means the Data Check agreement between the insured and Experian which sets out the details and terms of Experian's service and which the company has agreed to cover;

"Commencement Date" means in respect of each insured vehicle, the date the data check is performed as recorded by Experian;

"Data Check" means the service as defined by the terms and conditions in the agreement provided by Experian's then current database;

"Experian" means Experian Limited, whose registered address is Talbot House, Talbot Street, Nottingham NG80 1TH;

"Glass´s" means Glass's Information Services Limited, Princess Road, Weybridge, Surrey, KT13 9TU the provider of used vehicle valuations;

"Import" means the insured vehicle has been used outside the European Union before it's first registration with the DVLA or DVLNI;

"Insured" means an Experian business account holder who is a sole trader, partnership or body corporate (but not an individual in his own capacity) who has requested a data check for the insured vehicle;

"Insured Period" means in respect of each insured vehicle, a period of either 12 , 24 or 36 months from the commencement date, chosen by the insured and recorded by Experian;

"Insured Vehicle" means a vehicle identified by the Vehicle Registration Mark and Vehicle Identification number or chassis number which has been the subject of a data check for the insured;

"Market Value" means the value of the insured vehicle at the date the claim is notified to the company calculated by Glass's as being the average trade value for a vehicle of the same type, age and mileage in average condition;

"Sum Insured" means in respect of each insured vehicle, the sum chosen by the insured and recorded by Experian at the commencement date. The sum chosen may be up to a maximum of £50,000 per insured vehicle, but shall not exceed the market value of the insured vehicle at the commencement date;

"Total Loss Insurance Claim" means a claim for damage to the insured vehicle under a policy of motor insurance which is settled by the insurer prior to the commencement date by the provision of a replacement vehicle or by a monetary payment because the insured vehicle is considered to be beyond economic repair. This information must be verified for the insured by a member company of the Association of British Insurers or by Underwriters at Lloyds of London;

"Unroadworthy Condition" means that in the opinion of a qualified motor engineer the insured vehicle is not in a fit state to be driven on a public highway.

The masculine gender shall include the feminine and the singular, the plural and vice versa.

2. Benefits

The company will, where and to the extent that the data check has reported "Nothing Recorded", indemnify the insured against the following;

2.1.	where the insured has purchased the insured vehicle after the commencement date, the insured will be covered for:

2.1.1

the insured's financial loss within the insured period arising solely and directly from the data check being inaccurate or incomplete and giving rise to:

		(a)	the settlement by the insured of outstanding loans or other finance secured against the insured vehicle by previous owners; or
		(b)	the purchase of the insured vehicle in an unroadworthy condition where the insured vehicle is the salvaged vehicle following a Category A or B total loss insurance claim as confirmed by the insurer making that declaration; or
		(c)	the loss of the insured vehicle (or additional payments being made by the insured with the agreement of the company to secure full title to the insured vehicle), due solely to the insured vehicle having been reported stolen to the police prior to the commencement date and the insured failing to obtain good title to the insured vehicle.

In respect of any one insured vehicle, the maximum benefit payable under Clause 2.1.1. shall be the market value of the vehicle on the date of receipt of a claim by the company, up to the sum insured.

	2.1.2	the actual reduction in market value, which does not exceed 50% of the purchase price of the insured vehicle, arising within the insured period due solely and directly from the data check in respect of total loss insurance claims being inaccurate or incomplete, up to the sum insured.
	2.1.3	the actual reduction in market value of the insured vehicle arising within the insured period due solely and directly from the data check not recording the insured vehicle as an import or export vehicle. In respect of any one insured vehicle, the maximum benefit payable shall be either:

		(a)	10% of the purchase price of the insured vehicle; or
		(b)	10% of the sum insured;

whichever is less, up to a maximum £5,000.

2.2.	where the insured has granted finance (as described in a specific Credit Agreement) for the purchase of the insured vehicle after the data check, the insured will be covered for:

2.2.1

the insured's financial loss within the insured period arising solely and directly from the data check being inaccurate or incomplete and giving rise to the failure of the insured to obtain full repayment of the said finance due to:

		(a)	the existence of outstanding loans or other finance secured against the insured vehicle by previous owners; or
		(b)	the purchase of the insured vehicle in an unroadworthy condition where the insured vehicle is the salvaged vehicle following a Category A or B total loss insurance claim as confirmed by the insurer making that declaration; or
		(c)	loss of the insured vehicle due solely to the insured vehicle having been reported stolen to the police prior to the commencement date and the insured's failure to obtain good title to the insured vehicle.

In respect of any one insured vehicle, the maximum benefit payable under Clause 2.2.1. shall be either:

		(a)	the amount of the original loan less all repayments received; or
		(b)	the sum insured;

whichever is less.

	2.2.2	the actual reduction in market value, which does not exceed 50% of the purchase price of the insured vehicle, arising within the insured period due solely and directly from the data check in respect of total loss insurance claims being inaccurate or incomplete, up to the sum insured.
	2.2.3	the actual reduction in market value of the insured vehicle arising within the insured period due solely and directly from the data check not recording the insured vehicle as an import or export vehicle. In respect of any one insured vehicle, the maximum benefit payable shall be either:

		(a)	10% of the purchase price of the insured vehicle; or
		(b)	10% of the sum insured;

whichever is less, up to a maximum £5,000.

2.3.	where the insured has, as auctioneer, sold the insured vehicle at auction after the data check, the insured will be covered for:

2.3.1

the insured's financial loss within the insured period arising solely and directly from the data check being inaccurate or incomplete and giving rise to:

		(a)	the settlement by the insured of outstanding loans or other finance secured against the insured vehicle by previous owners; or
		(b)	the purchase of the insured vehicle in an unroadworthy condition where the insured vehicle is the salvaged vehicle following a Category A or B total loss insurance claim as confirmed by the insurer making that declaration; or
		(c)	the loss of the insured vehicle (or additional payments being made by the insured with the agreement of the company to secure full title to the insured vehicle), due solely to the insured vehicle having been reported stolen to the police prior to the commencement date and the insured failing to obtain proper title to the insured vehicle.

In respect of any one insured vehicle, the maximum benefit payable under Clause 2.3.1. shall be the market value of the vehicle on the date of receipt of a claim by the company, up to sum insured.

	2.3.2	the actual reduction in market value, which does not exceed 50% of the purchase price of the insured vehicle, arising within the insured period due solely and directly from the data check in respect of total loss insurance claims being inaccurate or incomplete, up to the sum insured.
	2.3.3	the actual reduction in market value of the insured vehicle arising within the insured period due solely and directly from the data check not recording the insured vehicle as an import or export vehicle. In respect of any one insured vehicle, the maximum benefit payable shall be either:

		(a)	10% of the purchase price of the insured vehicle; or
		(b)	10% of the sum insured;

whichever is less, up to a maximum £5,000

2.4.	Additional Benefits
	The company will, in addition to the benefits described in 2.3.1., 2.3.2., and 2.3.3. above, pay to the insured a one-off lump sum payment equal to £50 in respect of each individual circumstance set out below (except where and to the extent that a warning specifically limiting the benefits has been given in the data check) if:

	(a)	the colour of the insured vehicle given in the data check does not match the colour registered with the DVLA and confirmed on the insured vehicle's vehicle registration document (V5);
	(b)	the number of previous registered keepers of the insured vehicle given in the data check does not match the number of previous registered keepers registered with the DVLA and confirmed on the insured vehicle's vehicle registration document (V5); or
	(c)	where mileage details for the insured vehicle are recorded in the data check - a previous higher mileometer reading is not shown in the data check.

In respect of (a), (b) and (c) above, the insured will need to provide written documentary evidence to the company's reasonable satisfaction when making a claim.

3. Exclusions

The company shall not be liable for:

3.1.	the results of loss, destruction or damage to the insured Vehicle occurring after the commencement Date;
3.2.	any loss resulting from an insured vehicle which is not registered with the DVLA in the United Kingdom (or DVLNI in Northern Ireland) or which bears a Vehicle Registration Mark with the prefix or suffix letter Q or losses in respect of vehicles registered in Jersey, Guernsey or the Isle of Man;
3.3.	any vehicle purchased outside the United Kingdom;
3.4.	any loss resulting from any incident prior to the vehicle's first registration with the DVLA or DVLNI;
3.5.	any loss in respect of a vehicle purchased without a valid MOT Test Certificate;
3.6.	the purchase of a vehicle where the Vehicle Identification Number supplied by the insured does not correspond with the Vehicle Registration Mark held by the DVLA or DVLNI for that Vehicle Identification Number;
3.7.	any loss arising from a fraudulent transaction which prevents good title being passed from the vendor;
3.8.	any loss as the result of the vehicle bearing false Vehicle Registration Marks or Vehicle Identification Numbers;
3.9.	legal costs or expenses incurred by the insured;
3.10.	the cost of repair to or refurbishment of the insured vehicle, loss of anticipated profit from its use or sale, loss of use or any consequential loss;
3.11.	any consequence of war, invasion, act of foreign enemy, terrorism, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power;
3.12.	any loss directly or indirectly caused by, or arising from, nuclear fuel/nuclear waste from the combustion of nuclear fuel; or
3.13.	VAT payable by the insured.

4. Conditions

4.1.	The cost of this data check insurance must have been paid when due to Experian.
4.2.	No benefit is payable under this insurance if the insured at the time of the data check has any prior knowledge of the circumstances which give rise to a claim, or failed to confirm before making the purchase that the Vehicle Identification Number, Vehicle Registration Mark and other details provided as part of the data check were compatible with those of the actual vehicle or ignored any information disclosed by the data check which would reasonably put a potential purchaser of the insured vehicle on notice that the insured vehicle should not be purchased.
4.3.	The insured shall take all reasonable precautions to avoid losses which are or may be recoverable under this insurance.
4.4.	The company shall have the right to inspect the insured vehicle and the insured shall provide to the company at their own expense and in writing all details of the claim together with such proofs, explanation and other evidence as may be reasonably required by the company.
4.5.	The company shall be entitled to take possession of any salvage and dispose of it in a reasonable manner.
4.6.	All benefit under this insurance is forfeited if any claim made by the insured is knowingly false or fraudulent.
4.7.	The company may at its expense take such proceedings as it sees fit in the name of the insured to enforce any rights and remedies against or obtain relief or indemnity from other parties to which the company shall be or may become entitled or subrogated under this insurance and the insured shall at the request and expense of the company do such acts and things as may be reasonably required by the company for that purpose.
4.8.	The insured cannot assign or otherwise transfer the benefits under this policy to any other party.

5. Claims

5.1.	In the event of any occurrence giving rise or likely to give rise to a claim under this policy the insured must without delay;

	5.1.1	Request a claim form from Experian Claims Department, Lambert House, Talbot Street, Nottingham NG80 1LH Telephone: 0870 333 8030;
	5.1.2	Send written notice of the facts on which the claim is made to Experian at the above address in a form approved by the company as soon as reasonably possible and in any event within 30 days of the date of loss;
	5.1.3	Take all reasonable steps to recover the loss from the person or company from whom the vehicle was purchased or from any other party against whom there may be a right of action.

5.2.

The company shall have the right to inspect the insured vehicle and the insured shall provide to the company at the insured's own expense in writing all details of the claim together with such proofs explanations and other evident evidence as may reasonably be required by the company.

6. General Conditions

6.1.	This policy may be varied or waived by the company and confirmed by an endorsement hereon signed by a duly authorised official on behalf of the company. The insured shall be given 30 days written notice of any such amendment to the policy.
6.2.	This policy and any endorsement hereon shall constitute the entire contract. The provisions of the contract are, where their nature permits, conditions precedent to the company's liability made hereunder.
6.3.	This policy cannot be assigned or charged in any manner whatsoever.
6.4.	This policy shall not acquire a surrender value.
6.5.	This policy shall be governed by English law. However, if the insured is a sole trader, they are free to choose the law applicable to it and will be entitled to commence legal proceedings in their local courts.
6.6.	This policy is non-cancellable and no refund is payable.
6.7.	The company is covered by the Financial Services Compensation Scheme (the 'Scheme'). The insured may be entitled to compensation from the Scheme if the company cannot meet its obligations. The amount of compensation depends on the type of business. Most types of insurance business are covered for 100% of the first £2,000 of a valid claim and 90% of the remaining amount of the loss. Further information about compensation arrangements is available from the Financial Services Compensation Scheme, telephone number 020 7892 7300.

Enquiries and Complaints

While it is always the company's intention to provide a first class standard of service, if the insured does have any concerns regarding this insurance cover, please in the first instance address them to:

    Claims Manager
    Experian Claims Department
    Lambert House
    Talbot Street
    Nottingham NG80 1LH

Should the matter remain unresolved the insured should the write to:

    Customer Relations Manager
    Pinnacle Insurance plc
    Pinnacle House
    A1 Barnet Way
    Borehamwood
    Hertfordshire WD6 2XX

Should the insured remain dissatisfied with the outcome of any internal enquiries, the insured has the right to refer the complaint to:

    The Financial Ombudsman Service (FOS)
    South Quay Plaza
    183 Marsh Wall
    London E14 9SR

This procedure will not prejudice the insured's right to take legal proceedings. However please note that there are some instances when the FOS cannot consider complaints.

A leaflet detailing the full complaints/appeals process is available from Pinnacle on request.

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