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 a refund for any unused insurance premium.  e.g if you insure a house from 1 January and you cancel the cover 6 months later, you will be refunded 50% of total premium you paid.

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.

Initio will not charge you an administration fee if you choose to cancel your cover.  Our objective is to make it easy for you to start cover with us and to cancel cover with us.

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 in the past or the date the policy incepted (or last renewed), whichever is earlier.  This is in the interests of being able to backdate a policy cancellation so that it aligns with the settlement date of a previously sold property.

Once a refund is due to you, it 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 when it started.  Refunding the amount to the credit card you used to purchase your insurance is our default method of refund.  If you paid via Account2Account we will request your bank account number and then make payment to this account.