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BREXIT - implications for our private and commercial customers
7 October 2019
If there is a no-deal Brexit there will be implications for your personal and business insurances.
What you need to know:
1. Motor insurance - driving abroad
Currently, UK drivers can freely drive within the EU. All they need is a valid UK driving licence and appropriate motor insurance. If you are travelling within any EU country, Norway, Iceland, Switzerland, Serbia, Andorra or Liechtenstein on or after the 31st October 2019 you may need to contact your Sutton Winson Account Team at least 15 days before your trip. Alternatively, please call 0330 008 5555 or complete our contact form.
If there is a no deal outcome you will need:-
a) a Green Card from your insurer. If you are not planning on driving within the above countries, there is nothing to do. This also does not affect you if you hire a car where motor insurance is provided as part of the hire agreement.
b) to obtain an International Driving Permit (IDP) that can be purchased at Post Offices across the UK.
2. Travel Insurance
If there is a no-deal Brexit, the UK will no longer form part of the EEC medical agreement, commonly referred to as E111. This will mean it is very important for you to have travel insurance in place as E111 can no longer be relied upon to meet medical expenses costs.
3. Travel Visas
UK travelers currently do not need a visa to travel to the EU and can move freely between EU countries with a valid passport. After 31st October 2019, under reciprocal arrangements, UK citizens coming to the Schengen area for a short stay (90 days in any 180 days) can travel without a visa. However, your British passports must have:-
i. been issued within the last 10 years; and
ii. at least three months’ validity remaining on the date of intended departure from the last country visited in the Schengen area.
Business travelers, whose passports are due to expire within six months from 31st October 2019, will need to renew their passports to avoid being denied entry.
4. Private homes overseas
If you are a UK domiciled resident with an overseas home you will not be affected by buying insurance through a UK insurer. However, if you do acquire overseas residency, the situation could be different and we would ask to contact your usual Sutton Winson Team.
5. Life and Private Medical insurance
Having spoken with key insurers, claims payments remain unchanged in the event of a hard Brexit. However, if the position does change, your usual Sutton Winson Team will contact you.
6. Business Insurance for European operations
A number of our customers will have Master policies, which include their overseas operations. Up until now, it has been possible to issue these types of policies on an E.U Freedom of Services basis. Post 31st October, we may have to arrange local broker and insurer representation. Your usual Sutton Winson Team will contact you, where appropriate.
7. Business insurance - stock-piling supplies
If you manufacture, supply or install goods then, as a precaution, you may be looking to or are already increasing your stock on your own or at third party premises. You may need to review the amount of insurance to ensure you are adequately insured. Please contact your usual Sutton Winson Team if you need to increase your Sums Insured.
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