Simply Business is the UK’s largest landlord insurance and business insurance provider. The company started in 2005, and since then, it has helped over three million self-employed and self-businesses find the protection they deserve.
Simply Business does have a cancellation policy for its customers. But before you terminate your association with the company, there are a few things you must know. We have prepared this article to make you aware of the Simply Business cancellation terms and conditions in detail. Hence, to know all the details, continue reading till the end.
How Does The Simply Business Cancellation Policy Work?
If you cancel your policy with Simply Business, you could lose the necessary coverage. Moreover, you may no longer be able to claim your insurance if someone else claims you. Here is a detailed breakdown of the cancellation terms and conditions
|Public and product liability||You will get no protection if someone claims property damage or injury because of your business.|
|Employer’s liability||If you have employees under you and they get injured or ill due to working for you, you will not be protected against it.|
|Professional Indemnity||You will get no protection if you give your clients faulty advice or service due to which they lose money.|
|Business interruption||There is no protection if your business gets damaged due to unprecedented events like flood, fire, etc., and you have to stop your services for a while.|
|Contents, stocks, business equipment and tools||You may not get coverage when things like furniture, other equipment, or your business tools get stolen.|
|Buildings, fixtures and fittings||You may not get protected if your business premises are destroyed or damaged.|
|If you cancel your policy within the first 14 days||A full refund excluding the insurer’s charges, Simply Business’ cancellation charges (£50.00), and the cost of any additional covers you have taken. The Simply Business cancellation fee is subject to change. You will be notified about it at the time of purchase.|
You can cancel your Simply Business policy by calling at 844-241-6648 or emailing at firstname.lastname@example.org. Once the company receives your cancellation request, they will start the procedure. Within 30 days of the receipt, you will receive a refund on prepaid premiums for the remaining period of the policy.
You may be charged up to $500 or 25% on any prepaid premium for certain premium carriers. All the refunds are subject to the insurer’s terms and conditions. Therefore, when you buy an insurance policy, don’t forget to check the insurer’s key facts documents.
If you have selected a monthly payment plan, the amount may not be enough to pay the insurer’s charger for the cover, Simply Business’ cancellation charges, and other fees. Hence, you will be entitled to pay the remaining dues even after your cancellation is completed.