Frequently Asked Questions

Who do I speak to if I have concerns about the way my insurance is handled by SiB?

We understand that from time to time things may go wrong. We will always listen to your concerns and do our best to put things right. In the first instance you should refer the matter to one of our Team Leaders or Account Executives who will take full details of your concern. They will then […]

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What is an excess?

An excess is the amount of the claim you have to pay. If your claim is £1,000 and you have a £100 excess then your insurer will pay £900 and you will pay £100. What is a compulsory excess? A compulsory excess means that the policy you have chosen has that amount of excess, you […]

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Does the rent cover under my property owner’s policy pay me if my tenant doesn’t pay his rent?

This is a common question and one which is very easy to answer: no. Rent cover is automatically paid to you if a claim is made under your policy for an insured peril. For example, should your property suffer a water damage claim and your tenant has to move out your insurers will automatically pay […]

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What is IPT?

Insurance Premium Tax is a form of tax that must be added to all general insurance premiums within the UK. The most common form of tax, VAT, is not applicable on insurance, instead the government require you to pay IPT (as it is also known) instead. This amount is collected by us but passed to […]

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My motor insurance policy says I can drive other cars. What does this mean?

If your motor policy provides comprehensive cover then the standard wording on your certificate will be something like: ‘Provided the policyholder is 25 or over, and not employed in the motor trade, he/she may also drive, with the owner’s permission, a car not belonging to, nor hired or leased to them or their partner. Provided […]

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Why should I use an Insurance Broker?

As an insurance broker we are professional advisers who work on behalf of their clients. We have knowledge of the insurance market and the ability to negotiate competitive premiums on your behalf. We provide expert advice in relation to the risks

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Who are the FCA?

They are the Financial Conduct Authority (previously known as the Financial Services Authority). They regulate the financial services industry in the UK.

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What are rebuilding costs?

The rebuilding cost or reinstatement value of your property is the amount it would cost to rebuild if it was destroyed. In addition to the more obvious costs of materials and labour, it also requires

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What is the MID?

The MID (Motor Insurance Database) is a database of all insured vehicles in the UK and contains information about the policy and policyholder with data loaded by the insurance companies (in the case of commercial motor

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