Plan Finance FAQs
Who are Plan Finance?
What are your opening hours?
How much deposit will I need to pay?
How will I know when my payments are due to be taken?
What should I do if I miss a payment?
Will you charge me if I miss a payment?
What happens if I make a change and there’s an additional premium to pay?
What happens if I’m due a return premium?
Am I protected by the consumer credit act?
What if I want to cancel my agreement?
What is my loan secured against?
What if I want to complain?
Plan Finance is the accounts division of the well established independent insurance brokerage, Plan Insurance. We have provided low cost insurance, expert advice and excellent service over two decades.
Plan Insurance, Trade Plan Insurance, Commercial Plan Insurance, Taxi Plan Insurance, Plan Assist & Plan Finance are all divisions of The Plan Group Limited.
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Please do not hesitate to contact our dedicated accounts office Plan Finance during working hours on 0844 576 5754.
Lines are open from 9:00am – 5.30pm, Monday to Friday.
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If you are spreading your premium over 5 or 10 payments your deposit must be received before we can incept cover.
This deposit is 25% of the insurers premium plus our administration charges.
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A minimum of 2 weeks before your first payment is due Plan Finance will furnish you with a payment calendar.
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If you miss a payment you should phone Plan Financea.s.a.p. Have your credit details ready so that we can take your miss payment over the phone.
Failure to keep up payments will risk your insurance cover. Plan Financereserve the right to cancel your insurance should you forfeit payments.
Payment defaults incur standard administration charges.
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Our usual default charges are summarised below. However charges may vary, full details of maximum charges can be found on your finance agreement. Should you default you will be required to make the following relevant payments:
1st direct debit default £10 minimum charge.
2nd direct debit default £15 minimum charge.
Subsequent defaults £25 minimum charge.
Any request for reapplication of direct debit payment is a standard £15 mimimum charge.
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You may make amendments to your policy mid way through your policy period and incur an additional premium. If this occurs Plan Finance will provide you with an amended payment schedule. Should your change take place near or after your final direct debit payment, it may be necessary to arrange alternative payment methods.
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You may make amendments to your policy mid way through your policy period and be due a return premium. If this occurs Plan Finance will adjust your agreement amount and issue you with an amended payment schedule. Should your change take place near or after your final direct debit payment, Plan Financewill issue the return premium to yourself by cheque a.s.a.p.
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If you have an agreement with Plan Financeit will be a fixed loan sum agreement regulated by the consumer credit act 1974.
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You have a right to cancel your Agreement by giving notice to us within 14 days starting from the day after the signing by you and us of this agreement. If you cancel this agreement, any monies paid to you by us must be returned to us within 30 days of your giving notice of cancellation and any monies paid to us by you will be returned to you within the same time period. We may make a charge for any service provided by us in accordance with this agreement. If you are content with the agreement and do not exercise your right to cancel, then you will not be able to cancel it at a later date.
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Your loan is secured against your insurance policy. Failure to keep up payments will risk your insurance cover. Plan Financereserve the right to cancel your insurance should you forfeit payments. Please note that if you have claimed on during your policy period you will be liable to pay the full insurance premium.
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Your satisfaction with our service is incredibly important to us as we thrive on word of mouth recommendation. However we acknowledge that there may be an occasion when you feel we haven’t acted to the best of our abilities and you may want to make a complaint. We'll always try to resolve any complaint as soon as we receive it.
For any complaints please contact the Manager of the department
where you purchased the policy. We expect the majority of complaints will be
quickly and satisfactorily resolved at this stage.
If the matter is not resolved in the first instance the next step is to contact our Customer Care department in writing at Plan Finance, 1 High Street, Purley, Surrey. CR8 2AF. We will acknowledge receipt of your complaint in writing within 5 working days and give you our response to your complaint at this time if we can.
If our investigation takes longer, we will provide you with a full written response
within 20 working days, or explain the current position of your complaint and
provide you with a timescale for a full response. If your complaint is one of the few
that cannot be resolved by this stage, please write for the attention of our Mananging Director.
We will act promptly to settle the issue, as your custom is valued to us.
However, if your complaint is still not resolved to your satisfaction, you have the right to refer your complaint to the Financial Ombudsman Service. Their contact details are
Financial Ombudsman Service
South Quay Plaza 2
183 Marsh Wall
London
E14 9SR
Telephone: 0845 080 1800
www.financial-ombudsman.org.uk
The Financial Ombudsman Service will handle most complaints you might have, but there are some instances that fall outside their authority. The Ombudsman's decision is binding upon us, but you are free to reject it without affecting your legal rights.
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