We’ve created some handy links for you to jump to certain sections of this document, however we advise that due care is taken to read the full renewal invite and the terms included.
- Your details
- Your quote
- Our terms and conditions
- Accepting this renewal
- Paying for your policy
- If your payment fails
- Cancelling/Amending
Your Details
Dear Customer,
Your cover is due to renew on the .
A Summary of your upcoming cover is below. Please check that these details are correct.
- Policy Number
- Policy Holder Name
- Policy Product
Your Quote
Your price paid last year was: .
If you have selected any policy extras, these will be charged separately. All prices quoted and charged are inclusive of our fees and IPT.
We do not give you advice as to whether this product is suitable for meeting your specific Demands and Needs; you must therefore carefully read the Policy Summary, and particularly the section on exclusions and limitations, to determine whether this product is right for you. It is possible your product or terms may have changed within the last 12 months including changes to either your insurer, the terms & conditions, or both.
Terms & Conditions
Your policy is set to automatically renew and will renew in 21 days unless you contact us. If you don't want your policy to automatically renew, you can opt out at any time. Simply click this link and follow the instructions from in your account. Alternatively, you can call us on 0330 22 32 897. We cannot accept opt outs via email so make sure to contact us via the account or call us on the number provided.
Please feel free to speak to us if you want to look at any of our alternative products. We would be happy to discuss your requirements and find a policy that best suits your needs. The prices we quote over the telephone are reserved for our renewing customers. Occasionally, prices that you see elsewhere may include promotional discounts that are only available to new customers.
Dynamo Cover offers First Time Customer Discounts where you opt for certain products or services (see terms) However, this would not be redeemable on your subsequent years cover as you have already received this benefit in the first year.
You should consider whether the level of cover offered under this renewal meets your needs.
PLEASE NOTE: As a company we only process requests with the information supplied to us and process actions inline with your contract type . We DO NOT take responsibility for any actions processed which you do not require, information that has been supplied to us incorrectly, or has not been updated. Where such actions have been processed; we reserve the right to charge any processing and administration fees to action your contracted request, in addition to any premium difference due as it is your responsibility (the consumer) to ensure everything is correct.
Accepting This Renewal
Your policy is set to automatically renew so you do not need to do anything further. As a result your policy will renew on and we will charge to the card we hold on file.
Paying For Your Policy
If you pay in full for a year's worth of cover
If you previously chose to pay for your insurance in full using a credit or debit card, then we will debit the card stored on file for the total premium listed above. This charge will include all relevant fees and insurance premium tax taxed at the current rate 12%.
If you pay each month for a rolling monthly policy
If you previously chose an insurance subscription product which renews each month using a debit or credit card, then we will debit the card stored on file for the total premium listed above and continue to charge this amount unless there is a change to your insurance premium coverage, or premium due. This charge will include all relevant fees and insurance premium tax taxed at the current rate 12%.
If you pay for a year's worth of cover using our Premium Finance partner
If you previously chose to pay for your insurance through monthly instalments. If your credit application with Premium Credit Ltd is approved again, they will pay your insurance in full, and you'll repay them monthly by Monthly Payment under a new credit agreement, which you must sign.
This agreement includes an initial payment followed by monthly repayments. The above quoted Premium includes your facility fee (£10.00) and the APR (23%). It's important to know that the credit facility is provided by a third-party (Premium Credit Limited) and you will have separate terms with this organisation for this facility. You may incur additional charges such as a default fee (£25.00) which can occur for any late payments or non-signing of the credit agreement. Full details, including APR and costs, will be outlined in the credit agreement from Premium Credit Ltd. Please read it carefully.
Affordability check
Please ensure that these payments are manageable for you, and that you can keep making them.
Important points
- Dynamo Cover Ltd is acting as a credit broker, however we do not receive commission.
- Your personal and bank details will be shared with Premium Credit Ltd.
- A credit check will be done and may leave a visible record.
- You will receive your information pack within 14 days, including your repayment schedule.
- You can repay in full or in part anytime (subject to terms).
- Sign your credit agreement online as soon as possible. A £25 fee applies if Premium Credit must remind you to sign.
- Premium Credit will confirm your first payment date in writing. On your bank statement, the payment will show as Premium Credit Ltd or PC/Dynamo Cover. You'll get at least 5 working days' notice for any changes to your Monthly Payment.
You can withdraw from the credit agreement within 14 days without charge. Any payments made will be refunded, but you must arrange alternative payment for your insurance. After 14 days, you may still owe money to Premium Credit.
If Your Payment Fails
As your policy is set to automatically renew we will continue with this instruction and provide cover from . In the event of a failed payment, we will re-attempt to charge within 72 hours after your renewal date. If payment is still outstanding we will write to you providing instructions on what to do next. Please note that accounts with an outstanding balance may experience issues in making a claim.
Cancelling/Amending
You can change your level of cover by clicking the following link prior to your renewal date: Simply click this link.
If you wish to cancel your renewal you will need to log in to your portal, click the policy that is due to renew, and click 'Cancel This Policy'. We do not charge you any fees for cancelling your renewal however if you have an outstanding balance such as premium owed, interest payments etc these will need to be paid when you cancel your policy.