Customers who have purchased our insurance product through this website may apply for
a refund or cancel of the insurance product purchased, subject to the terms and
condition as listed in this policy. Please read through this policy carefully to
understand our cancellation and refund policy.
The premium for this insurance product cannot be refunded and/or
cancelled. All request for the refund of premium of cancellation of this
insurance product will not be entertained.
Customer’s motor insurance may be cancelled at any time by giving a
written notice to us. Upon cancellation, the customer is entitled to a
refund of the premium based on short-period rates provided that the
customer has not made a claim. The rates as follows:
Period of Insurance
Refund of Premium
Not exceeding 1 week
87.50% of the total premium
Not exceeding 1 month
75.00% of the total premium
Not exceeding 2 months
62.50% of the total premium
Not exceeding 3 months
50.00% of the total premium
Not exceeding 4 months
37.50% of the total premium
Not exceeding 6 months
25.00% of the total premium
Not exceeding 8 months
12.50% of the total premium
Exceeding 8 months
No refund of premium allowed
For matters of refund and cancellation, all written notice must be sent
to my insurance and will thereafter be forwarded to the Insurer. The Insurer
will process the request for cancellation and will be the party
responsible for the refund.
The insurer may also cancel this Policy by
giving the customer fourteen (14) days notice in writing by registered
post to the customer’s last address known to my insurance. The customer will
be entitled to a refund of premium if no claim was incurred prior to
cancellation. Your refund will be the difference between the total
premium and the customary short period rates provided above as
calculated for the time the Insurer were on risk until the date of
cancellation.This clause may only apply to certain Insurers, subject to
the terms and conditions of the insurance product offered by the
Insurers.
