How to Cancel Your Apollocover Tenant Insurance Policy
Sometimes, a tenant policy must be cancelled before the end of the term. We want to ensure that our customers clearly understand the fees and penalties associated with doing so.
Key Notes: Ensure that your policy cancellation aligns with your insurance needs, especially if relocating or transitioning to another insurance provider. Additionally, note that only the named insured or the primary policyholder is authorized to cancel the policy.
Additionally, Apollo tenant insurance policies are bound by 12-month contracts and cannot be purchased for shorter durations.
Who Can Cancel a Policy?
Only the named insured or the primary policyholder on the policy is authorized to initiate or authorize a cancellation. If the policy is under someone else’s name, such as a family member, that person must directly contact Apollocover to proceed with the cancellation. No other individual, even close relatives or dependents, is allowed to cancel the policy on behalf of the named insured without explicit consent.
Required Authorizations for Policy Cancellation
To process a cancellation, direct consent from the named insured is mandatory. If another individual (e.g., a family member or agent) requests a cancellation, APOLLO will require the insured’s express authorization. Policies cannot be cancelled without this explicit permission.
Transaction fees are non-refundable as per our policy terms and conditions. Additionally, the premium charged may not be directly proportional to the period the policy was in force due to a common industry practice called short rate cancellation.
This means that, for example, if the policy was previously active for 100 days, we would charge 38% of the premium based on the short-rate cancellation calculation. The total funds retained help cover the costs associated with issuing and servicing a policy that is cancelled mid-term.
Outstanding Balance Payments: Any outstanding amounts will be charged to the card on file.
Further Deductions: No monthly payments will be deducted from your account after the policy has been cancelled.
The short rate cancellation table is included in a customer's policy documents, under table R7. We strive to be transparent and fair in all our policies.
Refunds and Post-Cancellation Notices
After successfully cancelling your policy:
Eligible refunds will be processed according to the policy’s terms. While the specific timeline may vary, refunds generally adhere to standard processing times.
A confirmation will usually be sent to your registered email address upon finalizing the cancellation.
Using the Customer Portal
The easiest way to cancel your policy is through the Apollocover Customer Portal. Follow these steps: Please note that only the named insured should use the customer portal to initiate the cancellation.
Log in to the Apollocover Customer Portal: https://policy-portal.apollocover.com/login.
Navigate to the "Policy Details" section.
Select the "Cancel Policy" option.
Provide the reason for the cancellation and specify the desired cancellation date.
Note: Fees may apply if cancellation occurs before the policy term ends.
Need Further Assistance? We're Here to Help
Should you require additional support or have any questions, reach out through our Contact Us page here.
Ensure that you have the named insured’s explicit consent ready if the inquiry involves policy cancellation.
We're here to ensure that your insurance experience is as smooth and convenient as possible.