What is a short cancellation fee?

What Does Short Rate Cancellation Mean? A short rate cancellation is when the policyholder cancels an insurance policy before the policy expiration date. Short rate cancellations do not entitle policyholders to a refund proportionate to the coverage period left in the policy term.



People Also Ask

Ultimately, the decision to charge cancellation fees is up to you. If you do decide to charge clients who fail to turn up or don't cancel within a reasonable amount of time, then you are within your rights to support cancellation fees.

MORE DETAILS