Refund Policy

In all circumstances you will pay for your insurance cover in advance.  You can cancel your insurance policy at anytime through your Initio dashboard, and you will receive any unused insurance premium.

Initio is committed to refunding premiums and levies you have paid.  We will do this on a on a pro-rata basis. This means that if you choose to cancel a policy after its commencement we will refund you the days of cover you have paid in advance.

Please note that an administration fee may be incurred as part of your refund. Initio will deduct this charge from the refund amount owing to you.  We reserve the right to retain any fees charged and collected at the time of your policy incepted.  This will be taken into account when calculating your refund.

During the refund process (through your initio dashboard).  We will inform you of the exact dollar amount that will be refunded to you before you decide to proceed with the refund.

You have the ability to cancel or amend your policy online 24 hours a day, 7 days a week.  You can backdate your refund up to 30 days or the date the policy incepted (or last renewed), whichever is soonest.  This is in the interests of being able to backdate policy cancellation so that it aligns with the settlement date of a sold property.

Once a refund is due and your account is in credit, you will be refunded within 5 working days of receipt of your request.

We reserve the right to make a refund in the same manner and the same currency used to pay for the insurance originally.  Refunding the amount due to the credit card you used to purchase your insurance is our default method of refund.  If you had paid via Account2Account we will request your bank account number and then make payment to this account.