We are aware of the impact of COVID-19 on many peoples' jobs and livelihoods. If you find that you can't pay for your cover this month, through no fault of your own, you should speak to us as soon as possible as it gives us the best chance of providing support. Don't cancel any payments or direct debits through your bank as this can affect your policy with us and impact your credit history.
For example, we may be able to support you by:
- Reviewing your levels of cover
- Changing your payment date
- Offering a payment deferral
A payment deferral means putting off your payments for a short period. When you start paying again, the amount that has been ‘missed' gets spread over the remainder of the agreement. We will not charge any additional interest to you so the total amount payable won't increase as a result.
Payment deferrals should only be used when necessary, as the full credit agreement balance will still be due but will be paid for over a shorter period. Agreed payment deferrals will not have a negative impact on your credit score (if applicable).
Furthermore, the UK Government has announced a range of financial measures to support individuals and businesses through the pandemic, and you can find more details on how to access this support here.
If you feel that you would benefit from speaking to someone about your situation, our insurance policies include access to a 24/7 stress counselling helpline, provided on our behalf by DAS Legal. You can find out how to use this service on page 2 of your policy documents (if you're a landlord) or page 1 (if you have a business policy).