How do I cancel my policy?

You can cancel a policy yourself online any time through your dashboard, and you will be refunded the unused premium.

Key takeaways

• You can cancel your policy at any time through your initio dashboard or by contacting our Support team.
• If you cancel your policy before it expires, you may be entitled to a refund of any unused premium, subject to your policy terms.
• Once your cancellation has been processed, your insurance cover ends on the agreed cancellation date.
• If you’re replacing your policy with a new initio policy, make sure the new policy is active before cancelling the old one.
• You’ll receive confirmation once your policy has been cancelled.

Simply log into your initio dashboard and select the ‘Cancel Policy’ option on the policy you want to cancel. You can then select the date to cancel the policy from, and you will be instantly shown the refund amount, which will be refunded to your credit card or account with five working days.

The most common reason for cancelling a policy is because the property has been sold, with the date for cancellation of the policy being the settlement date. We realise that the settlement date may have already passed or be yet reached. You can cancel the policy with effect from a date within a 30 day window, subject to the current period of your policy, ie the current paid month or if you pay annually, the current year.  If you are trying to cancel more than 30 days ahead, you will need to wait till you are within the available window.

Once the policy has been canceled it will move to being an inactive policy, which can still be viewed from your dashboard and you can still make a claim for that time period of cover.

Troubleshooting: Why can’t I choose the correct cancellation date?

• If you want to cancel your policy next month, you might need to wait until your policy renews.
• For example, if it’s mid-July and your policy renews at the start of August, and you want to cancel in mid-August, you need to wait until early August when the policy renews.

• You’ll get a refund for any unused portion of your policy after the cancellation date.  The credit will be applied to the card initially used for payment, if this is not suitable please get in touch immediately to provide your preferred account details.

• Current Date: Mid-July
• Policy Renews: Start of August
• Desired Cancellation Date: Mid-August

Frequently asked questions

Can I cancel my insurance policy at any time?

Yes. You can request to cancel your policy at any time. Your cover will end on the agreed cancellation date.

Can I choose my cancellation date?

Yes. You can nominate the date you want your policy to end, helping you align it with a new insurance policy if you’re switching providers.

What happens after I cancel my policy?

Once your cancellation has been processed, your cover ends on the cancellation date and you’ll receive confirmation of the cancellation.

Relating articles:

• Cancel your old insurance
• Pre-purchasing a new policy
• Making changes to your cover
• Switching payment frequency

Written by Megan Fisher, Head of Marketing at initio.

Megan has been with initio since 2022 and has over 20 years’ experience in marketing and product strategy. She works closely with initio’s claims and customer experience teams, giving her a first-hand view of how insurance works when customers need it most.