Overview
Yes, in most cases. When you cancel, you only pay for the days you were insured, plus any cancellation fee. If you paid for days you won't be insured, you get that money back, minus the fee.
This applies if you want to cancel your policy and you've already paid for the month or the year.
How your refund works
| How you pay | What happens when you cancel |
|---|---|
| Yearly | You get a refund for the unused part of your year, minus any cancellation fee |
| Monthly | You get a refund for the unused days of the month you paid, minus any cancellation fee. If the fee is more than the refund, the difference is taken from your account |
Should I cancel now or at the end of the month?
It usually doesn't matter, because you only pay for the days you're insured. Choose the date you need your insurance to end. You can't backdate a cancellation, so send your request as soon as you decide.
How to cancel your policy
- Sign in to your YouSet account
- Under your policy, select Modify Policy
- Select Cancellation and non-renewal
- Follow the steps on the screen
What happens after
- YouSet reviews your request and sends it to your insurance company
- You get a confirmation email within 48 hours
- Your insurance company calculates your refund and sends you a final bill
- Your refund goes back to the bank account you pay from, within 30 days
Frequently asked questions
Can I avoid the cancellation fee?
Yes, if you end your policy on your expiry date instead. See our How to stop your policy from renewing articles.
What is a prorated refund?
It's the money you get back for days you paid for but won't be insured. For example, if you paid for the month and cancelled halfway through, you get back about half of that payment, minus any cancellation fee.