Terms and Conditions
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Monthly Payments Terms & Conditions
PAY BY THE MONTH INSURANCE REQUEST ENDORSEMENT
BizCover Limited (BizCover) can arrange a Pay by the Month premium facility in relation to this policy on behalf of the insurer of the policy. If you would like to take up this offer please read the following and click the acknowledgement contained on the BizCover website when you select the Monthly payment option.
This endorsement makes the following changes to the premium payment rights and obligations in the Policy Wording provided to you for the above policy and sets out our automatic renewal process in relation to these policies.
It is important you read it together with the applicable Policy Wording and other policy documents given to you and keep it in a safe place.
To the extent this document is inconsistent with any provision in the Policy Wording or other policy document, this endorsement takes precedence.
By entering your payment details on the Monthly Payment – Direct Debit screen and clicking the acknowledgement, you agree to the following changes to the policy terms and conditions:
- The first instalment is due on the inception date of the policy followed by eleven further equal monthly instalments due 5 business days prior to each monthly anniversary of policy inception.
- The monthly instalment payment will include an instalment administration charge as specified in the ‘Monthly Payment Breakdown’ provided to you on the BizCover website.
- If a monthly instalment payment remains unpaid we will seek to contact you to arrange for payment within two (2) business days of the due date. If you do not pay, we may cancel the policy by giving you notice in writing of the proposed cancellation by emailing you at the email address you have provided us with.
- The cancellation notice will have effect to cancel policy from the earlier of:
- the time when another contract of insurance between you and the insurer or some other insurer, being one which is intended to replace this contract is entered into; and
- three (3) business days from the time you were given the notice.
- We may also cancel the policy without notification after an instalment payment remains unpaid for one month.
- In the event the policy is cancelled due to non-payment, refund rights are as stated in the policy.
- Your insurer may refuse to pay a claim under the policy if at least one instalment has remained unpaid for a period of at least 14 days from its due date.
- On cancellation of any insurance policy paid by “Monthly Payment” the fees paid to BizCover are non refundable and you may be liable for any outstanding fees. Please also refer to any applicable cancellation provision in the relevant insurer’s policy wording.
- Your instalment payments and collection of them are administered by BizCover on behalf of the insurer.
- If you have any payment enquiries, please contact BizCover on 0800 249 268 or email to firstname.lastname@example.org.
- You agree to update BizCover on any changes to your contact details, so as to enable it to administer collection of your monthly instalments.
Process for automatically renewing your policy
- To ensure your continuing insurance protection we will normally send you a renewal offer at least 14 days before the renewal date of the policy. It will set out the terms on which we/your insurer are prepared to enter into renewal.
- Where you receive a renewal offer, you must tell us if the information contained in it is incorrect or incomplete and you must comply with your ‘Duty of Disclosure’. If you do not the insurer may reduce or refuse to pay a claim or cancel the renewed policy.
- If nothing needs to be disclosed and you are happy with the renewal offer terms you do not have to do anything as we will automatically renew on those terms and deduct/charge the new renewal premium and any applicable fees and charges from your nominated account/credit card, unless you tell us not to.
- If you do not wish to take up the renewal offer you must contact us prior to the renewal to advise us.
- If we do not offer to renew your policy, we will send you a notice telling you this.
- Each renewal is a separate policy, not an extension of the prior policy.
Direct Debit Authority
I/We authorize you until further notice to debit my/our account with all amounts which EZIDEBIT (NZ) LIMITED (Ezidebit), the registered initiator of Authorization Code 0227418, may initiate by Direct Debit. I/We acknowledge and accept that my/our bank/financial institution accepts this authority upon the conditions listed in the Direct Debit Service Agreement. I/We confirm that I/we can operate and have sole authority for the nominated account.
I/We acknowledge that Ezidebit is acting as a Direct Debit Agent for BizCover and that Ezidebit does not provide any goods or services (other than the direct debit collection services to me/us for BizCover pursuant to the Direct Debit Service Agreement) and has no express or implied liability in regards to the goods and services provided by the BizCover or the terms and conditions of any agreement that I/we have with BizCover.
I/We acknowledge that the debit amount will be debited from my/our account according to the terms and conditions of my/our agreement with BizCover and the terms of the Direct Debit Service Agreement.
I/We acknowledge that bank/financial institution account and/or credit card details have been verified by me/us against a recent bank/financial institution statement to ensure accuracy of the details provided and I/we will contact my/our bank/financial institution if I/we are uncertain of the accuracy of these details.
I/We acknowledge that it is my/our responsibility to ensure that there are sufficient cleared funds in the nominated account by the due date for payment to enable the direct debit to be honoured. Direct debits normally occur overnight, however transactions can take up to three (3) business days depending on the bank/financial institution. Accordingly, I/we acknowledge and agree that sufficient funds will remain in the nominated account until the direct debit amount has been debited from the account and that if there are insufficient funds available, I/we agree that Ezidebit will not be held responsible for any fees and charges that may be charged by either my/our or its bank/financial institution.
I/We acknowledge that there may be a delay in processing the debit if:- there is a public or bank holiday on the day of the debit, or any day after the debit date; a payment request is received by Ezidebit on a day that is not a banking business day in New Zealand; a payment request is received after normal Ezidebit cut off times, being 5:00pm New Zealand time, Monday to Friday. Any payments that fall due on any of the above will be processed on the next business day.
I/We authorise Ezidebit to vary the amount of the payments from time to time as may be agreed by me/us and BizCover as provided for within my/our agreement with BizCover. I/We authorise Ezidebit to vary the amount of the payments upon receiving instructions from BizCover of the agreed variations. I/We do not require Ezidebit to notify me/us of such variations to the debit amount.
I/We acknowledge that Ezidebit is to provide at least 14 days’ notice if it proposes to vary any of the terms and conditions of the Direct Debit Service Agreement including varying any of the terms of the debit arrangements between us.
I/We acknowledge that I/we will contact BizCover if I/we wish to alter or defer any of the debit arrangements.
I/We acknowledge that any request by me/us to stop or cancel the debit arrangements will be directed to BizCover.
I/We acknowledge that any disputed debit payments will be directed to BizCover and/or Ezidebit. If no resolution is forthcoming, I/we agree to contact my/our bank/financial institution for the purpose of seeking to engage it to make a determination.
I/We acknowledge that if a debit is returned by my/our bank/financial institution as unpaid, a failed payment fee is payable by me/us to Ezidebit. I/We will also be responsible for any fees and charges applied by my/our bank/financial institution for each unsuccessful debit attempt together with any collection fees, including but not limited to any solicitor fees and/or collection agent fee as may be incurred by Ezidebit.
I/We authorise Ezidebit to attempt to re-process any unsuccessful payments as advised by BizCover.
I/We acknowledge that certain fees and charges (including setup, variation, SMS or processing fees) may apply to the Direct Debit Service Agreement and may be payable to Ezidebit and subject to my/our agreement with BizCover agree to pay those fees and charges to Ezidebit.
Credit Card Payments
I/We acknowledge that “Ezidebit” will appear as the merchant for all payments from my/our credit card. I/We acknowledge and agree that Ezidebit will not be held liable for any disputed transactions resulting in the non supply of goods and/or services and that all disputes will be directed to BizCover as Ezidebit is acting only as a Direct Debit Agent for BizCover. I/We acknowledge and agree that in the event that a claim is made, Ezidebit will not be liable for the refund of any funds and agree to reimburse Ezidebit for any successful claims made by the Card Holder through their bank/financial institution against Ezidebit.
I/We acknowledge that Credit Card Fees are a minimum of the Transaction Fee or the Credit Card Fee, whichever is greater as detailed on the Direct Debit Request.
I/We hereby irrevocably authorise, direct and instruct any third party who holds/stores my/our personal information (relating to BizCover and contained in the Direct Debit Service Agreement) to release and provide such information to Ezidebit on my/our written request.
I/We authorise: Ezidebit to verify and/or correct, if necessary, details of my/our account with my/our bank/financial institution; and my/our bank/financial institution to release information allowing Ezidebit to verify my/our account details.
Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals.
You can also access quick links to our self-service portal, where you can download your Certificate of Currency, update your payment details, amend your cover and download your policy documents.
* * As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.
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Chris was fantastic to deal with over the phone. He answered all my questions confidently and professionally. Would highly recommend Biz Cover.
As a sole trader with a very small business I’ve found your company to be the only one that has offered insurance that has suited my circumstances – and moreover been friendly and responsive to deal with. Keep it up!
Fast, easy and no fuss!!!
Thanks. Very easy to deal with.