If you have had your policies cancelled, or if you want to cancel your policy, you may want to contact the Insurance Council of Australia (ICOA) to check your eligibility.
You can contact the ICOA on 1300 888 989.
If you don’t have access to an internet connection, you can still contact the Council.
If the insurance company does not send you a refund, the insurance provider may try to collect the refund from you, even though you’ve not had a policy cancelled.
The insurance company can use your contact details to collect your refund.
If they’re successful, you’ll get a refund from your insurer.
You’ll also get a cheque for the full amount of your premium, and the refund will be deposited into your bank account within 14 days.
For more information, see How to cancel a policy.
If your insurer won’t send you an invoice, you might have to pay a fee.
If that’s the case, contact the Consumer Action Centre to talk to your insurer about the refund you’ll receive.
You could also contact the Australian Taxation Office (ATO), who will refund you your refund if you’ve paid the tax.
For information about the ATO’s refund collection process, contact their refund section.
What to do if you don’ t get a reply The time it takes to get a response from the insurer may depend on the type of policy and the type you bought.
If it’s a basic policy, it can take between three and five days.
If there’s more than one type of insurance policy on offer, it could take more time.
To contact the insurer, you need to: call the company directly.
This could be from your home or office.
Call the insurance agent at the address you give the company.
This can be from the address or phone number provided in the insurance policy.
This service is available from most major insurance companies.
For a complete list of your insurance company’s contact details, go to the insurance contact details section.
Call your insurer again if your insurance agent isn’t available.
If all your questions are answered, the insurer will send you the refund cheque, but they won’t write to you until they have the money for the refund.
You should also check if your insurer has a refund policy.
The refund cheques are sent via Royal Mail or post, so if your cheque arrives late, you could still get a late payment fee.
You must send the cheque to the address provided on the insurance cover statement.
To get a return cheque after your policy has been cancelled, you should contact the Royal Mail Return Office on 1300 996 867.
You don’t need to pay for the insurance premium, so there won’t be any penalty charges if you cancel the policy.
You won’t have to send any other payments to the insurer.
However, you will still need to repay the insurance fee.
The insurer will need to send you their refund cheques once the refund is deposited in your bank.
What if I want to go back to the policy but it hasn’t been cancelled?
If you cancelled a policy in the past, you’re not eligible for a refund.
Contact the Insurance Compensation Scheme to see if you’re eligible for the policy cancellation refund.
The cancellation refund can be used to buy insurance again, or to get your policy cancelled again if the insurer is not eligible to receive a refund (see what the refund means for you).
What if my insurer is still in the process of cancelling my policy?
You can still request a refund for the cancellation fee.
Contact your insurance provider to find out if they can give you a return or a refund chequer, or you can apply to have your policy changed to a different insurer.
For details on the difference between a refund and a change to an insurer, see What’s a change of insurer?
If your policy is still on offer and you want your refund, you must contact the insurance agency directly to get the refund, otherwise you may have to repay their premium fee.
To do this, you: need to write to the Insurance Commission of Australia’s Refund Program.
This is your local telephone number, or your local branch of the Commission’s website.
This address can be found by looking under the ‘About’ tab of the Insurance Information tab of your local Banking and Finance website.
The agency will email you a link to get this form, or send it directly to your bank or contactless payment system.
This form will take you to a page that looks like this: “This is the refund form, fill in your name, address, phone number and a copy of your policy cancellation notice.
If this form doesn’t work, you don ‘ t have to do anything.”
If you fill in the information correctly, the form will appear on your bank statement.
Your insurer must pay the refund fee if they didn’t receive a chequer from you.
If their refund is for a policy that’s still on the market,