You are able to cancel your policy with Covertime at anytime, however your ability to obtain a refund will depend on whether your cover has started and how long your policy is for.
Unlike annual insurance, short period insurance policies of less than one months’ duration are not subject to the 14-day cooling off period. This is in line with the rules set by the Financial Conduct Authority (FCA). Our refund policy is dependent on whether the cover has started.
Leaner policies not yet started up to 30 days - if you let us know before the policy starts and ask us to cancel your policy, you may be entitled to receive a full refund. Please contact us as soon as possible and our team can look into this for you.
Learner policies where the cover has started up to 30 days - if you contact us after the policy has started and the cover is in force, whilst we can cancel the policy for you there will be no refund due to you. This is highlighted to you before you purchase the policy.
Learner policies 31 days or over: A 14 day cooling-off period applies, which means if you cancel your policy during the first 14 days, provided you have not made a claim, you may be entitled to a pro-rata refund for the remaining days on cover. If, however, you contact us after the first 14 days of cover, we can cancel the policy but there will be no refund.
You can cancel your policy by getting in touch with our team, either via our Live Chat or you can email us at [email protected].