Return Policy for Cover-4-Less Household Appliance Insurance 

1. Your Right to Cancel (Cooling-Off Period)
As per the UK Financial Conduct Authority (FCA) regulations outlined in the Insurance: Conduct of Business Sourcebook (ICOBS 7.1), you have the right to cancel your Household Appliance Insurance policy without providing a reason during the cooling-off period. The cooling-off period for general insurance contracts, such as this policy, is 14 calendar days. This period begins on the later of:

– The day the insurance contract is concluded (i.e., the policy start date), or
– The day you receive the policy documents, including the contractual terms and conditions, as required under ICOBS 6.

Exceptions:
The cooling-off period does not apply in certain cases, such as:
– If the policy has been fully performed at your express request before you exercise your right to cancel (e.g., if a claim has been made and settled).
– Policies with a duration of less than one month (e.g., short-term policies), as defined in ICOBS 6.2.5 R.

2. How to Cancel Your Policy
To exercise your right to cancel within the 14-day cooling-off period:
– Notify Us: Contact us before the expiry of the 14-day period via:
– Phone: 020 8589 0095
– Email: admin@cover-4-less.com
– Post: Cover 4 Less, Suite 538 The Atrium, 1 Harefield Road, Uxbridge, UB8 1PH
– Required Information: Provide your policy number and confirm your intent to cancel. For written notifications (email or post).
– Deadline: The cancellation request must be dispatched before the 14-day period expires. The deadline is deemed met if the notification is sent within this timeframe, as per ICOBS 7.1.2 R.

We will confirm receipt of your cancellation request and process it promptly.

3. Refunds During the Cooling-Off Period
If you cancel within the 14-day cooling-off period, you are entitled to a refund of any premiums paid, subject to the following:
– Pro-Rata Charges: We may deduct a proportional amount for the days the policy was in force (e.g., if you were covered for 5 days, a pro-rata premium for those days may be charged).
– Administrative Fees: A small administration fee may be charged, as permitted by ICOBS 6.4.3 R, provided it is proportionate to the costs incurred and not construed as a penalty. This fee will be clearly outlined in your policy documents.
– Refund Timeline: We will process your refund without undue delay and no later than 30 calendar days from the date we receive your cancellation notification, as required by ICOBS 6.4.3 R.
– Return of Documents: You must return any policy documents or certificates (e.g., insurance certificate) within 30 days of cancellation, as stipulated in ICOBS 6.4.3 R.

4. Cancellation After the Cooling-Off Period
If you wish to cancel your policy after the 14-day cooling-off period, you may do so, but a full refund is not guaranteed. As per FCA guidelines:
– We may provide a pro-rata refund for the remaining coverage period, less any applicable administration or cancellation fees, as outlined in your policy terms.
– Refunds are subject to no claims having been made during the policy term.

Please review your policy documents or contact us for specific terms regarding cancellations outside the cooling-off period.

5. Additional Information
– Policy Documents: We will provide you with clear information about your cancellation rights in the policy documents, as required by ICOBS 5. This includes details on the cooling-off period, any applicable fees, and how to cancel.
– Transparency: Any fees for cancellation (e.g., administrative costs or pro-rata premiums) will be disclosed in the policy fine print before purchase, in line with FCA requirements to ensure transparency.
– Contact Us: If you have questions about your cancellation rights or need assistance, contact our Customer Service team at 020 8589 0095 or admin@cover-4-less.com.

6. Compliance with FCA Regulations
This return policy adheres to the FCA’s Insurance: Conduct of Business Sourcebook (ICOBS), specifically ICOBS 6 and ICOBS 7, which govern cancellation rights for non-investment insurance contracts sold to retail customers. We are committed to ensuring your rights are protected and that all cancellation processes are fair and transparent. For more details, you can refer to the FCA Handbook at www.handbook.fca.org.uk.

7. Important Notes
– No Penalty: Cancelling within the 14-day cooling-off period incurs no penalty beyond proportionate charges for coverage provided and reasonable administrative costs, as per ICOBS 6.4.3 R.
– Claims: If you have made a claim during the cooling-off period, your right to cancel may be affected, as the policy may be considered fully performed.
– Distance Contracts: For policies purchased online or over the phone, the 14-day cooling-off period aligns with the Consumer Contracts Regulations 2013, ensuring additional protections for distance sales.

By purchasing our Household Appliance Insurance, you acknowledge that you have been informed of your cancellation rights as required by the FCA.