When can I cancel my business insurance?
You may request cancellation to your insurance policy at any time during your policy’s contract term.
To cancel your insurance policy, contact us at [email protected] or speak to our licensed insurance agent using the Chat function
Are there any penalties to cancel my business insurance?
If you decide to cancel your insurance before its expiry date, the insurance company will charge a Short Rate Cancellation Fee. This fee is calculated as a percentage of the total premium and based on the date your policy is cancelled. You may review the Short Rate Termination Tables located in your insurance policy documents. Since Ownr collects your annual insurance payment upfront, you may expect a refund based on the breakdown below:
Total Paid Premium – Time used on insurance – Short Rate Cancellation Fee = Refund amount
Please note that there are no cancellation fees when you choose not to renew your policy or cancel on the contract’s expiry date.