Refund Policy | Insurance Bundles World

Refund Policy

Last updated: 1 March 2025

Contents

At Insurance Bundles World, we aim to make the cancellation and refund process as clear and straightforward as possible. This Refund Policy explains when and how you can receive a refund on your insurance premium.

Cooling-Off Period

You have a 14-day cooling-off period from the later of:

  • The date your policy starts, or
  • The date you receive your policy documentation

If you cancel within this period and no claims have been made, you will receive a full refund of your premium. If a claim has been made during the cooling-off period, no refund will be issued and the full annual premium may be charged.

Mid-Term Cancellation

If you cancel your policy after the 14-day cooling-off period, the following applies:

  • You will receive a pro-rata refund for the unexpired portion of your policy term
  • A cancellation administration fee of £25 may be deducted from your refund
  • Any claims made during the policy period will be taken into account and may reduce or eliminate your refund entitlement
  • If you pay monthly by direct debit, outstanding instalments may be collected before the policy is cancelled

Non-Refundable Items

The following elements of your premium are generally non-refundable:

  • Insurance Premium Tax (IPT) — once paid, IPT cannot be reclaimed
  • Fees for additional services or add-ons already utilised (e.g. legal advice, emergency callouts)
  • Broker or arrangement fees where these have been clearly disclosed

Refund Process

To request a cancellation and refund:

Approved refunds will be returned to the original payment method within 5–10 business days. For direct debit customers, any final balance will be settled within 2 billing cycles.

Impact of Claims

If a claim has been made or is ongoing at the time of cancellation:

  • The claim will continue to be handled in accordance with your policy terms
  • Your refund will be calculated net of any claims paid or reserved
  • In some cases where claims exceed the remaining premium, no refund will be issued
  • Your no-claims history may be affected

Contact Us

If you have any questions about our Refund Policy, please don't hesitate to get in touch:

We are also regulated by the relevant financial authority and you have the right to refer any unresolved complaints to the appropriate Financial Ombudsman in your region.