Broker FAQ2020-06-10T16:39:19+00:00

Broker FAQ

Agency Applications & Sales

CAN MODUS OPERATE ON A BROKER’S PANEL OF INSURERS WITH A COMMON POLICY WORDING?2020-06-04T16:40:27+00:00

Yes we can, contact us to discuss your requirements – [email protected]

DO MODUS BUILD BESPOKE PRODUCTS ON BROKERS’ OWN SYSTEMS?2020-06-04T16:40:27+00:00

Yes we do, we specialise in designing, developing and deploying our products in conjunction with our broker partners.

IS THERE A MINIMUM PREMIUM COMMITMENT LEVEL TO TRADE WITH MODUS?2020-06-04T16:40:27+00:00

No, we do not insist on a minimum premium commitment.

I WOULD LIKE TO TRADE WITH MODUS HOW DO I APPLY FOR AN AGENCY?2020-12-23T11:42:24+00:00

Please click this link to submit an agency application.

Credit Control

I HAVE A QUERY REGARDING MY ACCOUNT STATEMENT AND SETTLING MY BROKER STATEMENT, WHO DO I CONTACT?2024-02-08T20:47:40+00:00

Direct all credit control queries to [email protected] or 0203 3018366

DO MODUS OFFER AN INSTALMENT PLAN FOR POLICYHOLDERS?2020-06-04T18:12:38+00:00

No – Modus do not offer an instalment option. You are free to use one of your own finance providers.

Underwriting

WHAT ARE THE CANCELLATION TERMS?2020-06-04T18:14:29+00:00

Pro-rata return premium if claim free (25% of the return premium is retained by Modus if cancelled during the first year). No return premium is allowed if there has been a claim or on short-term, 3 month, of 6 month policies.

WHAT ARE THE UNOCCUPIED CONDITIONS?2020-06-04T18:16:20+00:00

The property must be inspected inside and out at least every 7 days, and a record kept of the inspections.
Heating must either be on constantly at a minimum temperature of 15c, or fully drained down. Please see our Unoccupancy Condition for full details.

DOES THE TENANCY AGREEMENT HAVE TO BE BETWEEN THE TENANT AND POLICYHOLDER?2020-06-04T18:17:33+00:00

No. Check with the policyholder that the tenant can comply with the policy conditions and be able to advise us if the tenancy or occupancy of the property changes.

WHAT ABOUT HMO PROPERTIES OR BED-SITS?2020-06-04T18:18:20+00:00

Modus do not offer cover for these type of risks, unless a specific agreement is in place.

CAN THE POLICYHOLDER LIVE ABROAD?2020-06-04T18:20:12+00:00

Yes, providing the policyholder is a UK citizen living abroad. Please ensure that the client is aware that they must tell us of any changes to the risk such as a change in tenant, occupancy and maintain the property in a good state of repair. If the property is, or may become, unoccupied, then they must be able to meet the inspection requirements.

WHAT ARE CONSIDERED TO BE BENEFITS-ASSISTED TENANT TYPES?2020-06-04T18:21:09+00:00

Tenants who are working and only receive tax credit “top-up” would be considered “Working” tenants. Benefits-assisted tenants (historically termed DSS) would be in receipt of benefits such as Jobseekers Allowance, Income support or Universal Credit.

I HAVE AN UNDERWRITING AND PRODUCT QUESTION THAT HAS NOT BEEN COVERED HERE, WHO CAN I REFER THIS TO?2020-06-04T18:22:47+00:00

Please contact the underwriting team at Modus – [email protected]