Customer Terms of Business

Terms of Service

By purchasing a policy through My Car Security, you agree to the following terms. This agreement governs the arrangement and management of your insurance policy and is separate from any contract with the insurer. Please review these terms carefully.

1. Service Commitment

My Car Security provides short-term motor insurance policies (lasting less than one month). Our services include presenting policy options, confirming pricing, setting up coverage, managing policy administration, and handling payment collection. We work with a dedicated claims partner to assist you with claim-related matters. Please note that we provide information but do not offer personalized financial advice. Make sure to review our Eligibility Criteria to confirm you qualify for coverage.

2. Acting on Your Behalf and with Insurers

As an intermediary, My Car Security may act on your behalf or, when necessary, on behalf of the insurer. Our responsibilities include:

Policy Setup: Arranging your insurance policy.
Claims Assistance: Supporting you throughout the claims process.
Policy Administration: Offering competitive pricing and comprehensive policy information.

We maintain transparency regarding any potential conflicts of interest.

3. Range of Available Policies

We partner with a variety of insurers to offer policies that suit diverse coverage needs. By comparing options, we aim to provide you with a quote that balances both coverage and affordability. While we assess the financial stability of our partners, My Car Security cannot be held responsible for any service disruptions arising from insurer-related issues.

4. Fee Structure

Your total policy cost includes:

Insurer Premium: Covers underwriting expenses, Insurance Premium Tax, and may include a commission for My Car Security.
Optional Add-ons: Services such as Breakdown Cover, Excess Reduction, or Legal Expenses Insurance (from which we may receive a commission).
My Car Security Fee: Covers the setup, administration, and support of your policy.

Maximum fees for specific products:

Car, Van, Motorbike, or Learner Insurance: Up to £130
Impounded Vehicle Insurance: Up to £200

Additional fees may apply if you were referred through a partner. We may also receive fees from claims partners and may enter profit-sharing arrangements with insurers.

5. Payment Processing

My Car Security collects payments on behalf of the insurer. Once premiums are deposited into our trust account, they are considered received by the insurer. Any interest earned on these funds is retained by My Car Security.

6. Information Disclosure

It is your responsibility to provide accurate and complete information to the insurer. Any misrepresentation—whether intentional or accidental—may impact your ability to make a successful claim.

7. Policy Modifications, Cancellations, and Refunds

Due to the short-term nature (less than 30 days) of our policies:

Policy modifications or additions are not permitted.
Cancellations are non-refundable.

8. Claims Support

If you need to file a claim, our claims team is available to guide and support you throughout the process.

9. Resolving Issues

For any issues or concerns, you can contact us via email, phone, or in writing. If you require further assistance, you may escalate your complaint to the Financial Ombudsman Service.

10. Financial Compensation Scheme

In certain situations, you may be entitled to compensation under the Financial Services Compensation Scheme (FSCS). For more details, please visit the FSCS website.

11. Privacy and Data Protection

We collect only the personal information necessary to manage your insurance policy. Your data is handled securely in compliance with the Data Protection Act 2018. For further details about your rights, refer to our Privacy Notice.

12. Managing Conflicts of Interest

We actively identify, manage, and disclose any conflicts of interest. Where necessary, we will seek your consent to proceed.

13. Issuing Policy Documents

Upon successful payment, your policy documents and certificate of insurance will be sent electronically. Printed copies are available upon request.

14. Data Sharing with Industry Registers

To prevent fraud and verify coverage, we share relevant information with claims and underwriting registers. Vehicle details are submitted to the Motor Insurance Database for compliance verification.

15. Governing Law

These Terms of Service are governed by English law and fall under the exclusive jurisdiction of the English courts.

Last Updated: 22nd January 2025 | Version: 2.1