How Can You Cancel Travel insurance?
If you have purchased travel insurance and for certain reason you have cancel the trip. Can you cancel the travel insurance? Can you get a refund? How much will the refund be? How to go about to cancel the insurance? How will the insurance pay you the premium back to you?
If I have a way to convey the message, I would say, all you need to do is to get the travel insurance from a responsible agent. If you have gotten your policy from a faceless internal portal or some channel which the main business is not in insurance, you may face some problems in getting attention to your request.
You can cancel your travel insurance anytime before your stated travel date and time. What happens if you have sent in the cancellation request after the date or time of your supposed flight or trip? Well you can still do the cancellation but you will have to proof that you have not traveled at all.
Logically speaking, if I am the insurance company I would not be happy if I know that you have travelled and nothing had happened and you are now trying get back the premium right? Anyway it is going to be very troublesome to get back the premium. The best way is still to inform the insurance company that you wish to cancel the policy before your supposed travel date and time.
The next thing to worry is whether the insurance had received your cancellation instruction before the supposed time of departure. If you have a responsible agent, by informing the agent, technically it is considered that you have informed the insurance company. The agent would also have informed the insurance company of your instruction and cancellation would have been effective.
Once the cancellation is being done, you will now wait for the premium refund. Most of the time travel insurance premium is relatively small amount . Usually less than RM100. to most people it is not worth spending too much time doing the calling and emailing to follow up on the refund. Hence it is good to have agents to assist. This is one of the normal course of business of an insurance agent that sells travel insurance.
Most insurance companies nowadays would request for your bank account details because they are required by BNM to bank in the claim or premium refund into policyholders’ bank account directly. The first time registration of the bank account can be quite tedious as it will require a copy of your bank statement to proof that the account is really yours. Yeah!
Thanks to the fraud masters in our country, this procedure has to be in placed. The good thing is, once you have registered your bank account with an insurer, you will no longer be required to do it again for the same insurer in the future. OK I know, first you don’t really like to have a second on this, and secondly there are many other insurance companies in the country.
The refund of premium will be in full. Just to go further on this answer, if you had purchase the travel insurance for 20 days, but you cut short the trip 5 days, there will not be a refund in this situation. Why? Because once the travel insurance risk has commence, you can’t do an endorsement on the policy.
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It is first time in my life I had travel insurance. It worth to have it. That trip I didn't have any trouble in the foreign country even my luggage was delay to arrive. I advice everybody to have it.Ali Engin
Very helpful and keep updated on the travel insurance conditions. Age is not an issue, if you continue of renewing every year. I am senior citizen but no big issue, still renewing.Nedim Alibi
I am frequent traveler due to my office commitments. I got this annual travel insurance and never wonder. Hassle free. I encourage everyone to have for this insurance done.Abdul Aziz
Well done. I had this insurance policy and found out that this is necessary for all travelers. Encourage everyone whose travel around the world as frequent flyer.Lai May Leng
At the beginning I didn't expect that quality service from this company. They treat me like a queen. I would like to give rating 5 stars for this company due to their friendly approach.Fouzi
Very detailed quotation from the company, so you know what to expect from the circumstances. No more complaints. Will renew every year for my travel arrangements.Emre