What is a valuable?
A valuable is defined as jewellery, articles of or containing gold, silver or other precious metal, cameras (which includes video cameras and camcorders) binoculars, watches, furs, paintings and other works of art, collections of stamps, coins and medals. 

What is a specified item?
A specified item is a Valuable with a single item value of over £2500

Can you insure if the property has experienced flooding?
We offer a referral process, which links directly to a dedicated broking team.  They will independently search the market to identify a suitable insurer.

What are the benefits of having a panel of insurers?
Insurers often have a preference for a particular type of risk; new build, first time buyers, older properties etc.  A panel of insurers means a broader underwriting range and it can reduce the chances of being declined insurance due to rating factors such as; postcode area or occupation.

What are the benefits of having a common policy wording?
A single wording is easier to learn than a broad selection of wordings with various levels of cover and it means you only have to show comparison based upon price.

What should my customer do if they want to cancel their policy?
If the insured wishes to cancel their policy they should contact either by phone or mail, the Administrator, BDML Connect Ltd, The Connect Centre, Kingston Crescent, Portsmouth PO2 8QL. 0870 609 5718. Full details are contained with the policy booklet.

How are commission payment made?
We pay commission on both incepted and renewed policy on a quarterly basis via BACs transfer in the bank account details you have supplied to us.

What is the commission payment?
On standard policy sales, it is 27.5%.  For non-standard and high net worth referrals, it is 10%.  The same amount is paid at renewal.

What is indemnity commission?
We pay commission on the proviso we will be entitled to take back some or all of the commission if the policy is cancelled within a given period. Also known as 'clawback'.

What is commission sacrificing?
mychoice allow you on the system to low the amount of commission you receive, which in turn reduces the premium quoted to the client.  This can be a helpful way of ensuring a competitive edge if one is required.

Renewals
We re-broke polices against our panel to ensure the best price for the client.  Renewal Notification is sent out approximately 21days prior to renewal.

My customer’s solicitor has asked for confirmation that they have home insurance cover.  How can I get the insurance details to them quickly?
On the mychoice system you have the option to complete the solicitor’s details.  As long as the policy has incepted, we are able to fax across the same day confirmation to the insurance has been obtained.