All policy cancellations must be made in writing. Please provide the requested effective date of cancellation and reason for canceling.
All minimum premiums are fully earned at policy inception. So what this means is that if you purchased a policy and you were at minimum premium of $490.00, and then closed the studio (or stopped instructing, etc.) and you no longer need the coverage, and requested to cancel the policy, the minimum premium of $490.00 will be fully earned and there will be NO refund. However, if you purchased a policy and say it was $1,000.00 and you cancelled the policy early, the minimum premium of $490.00 would be fully earned and then any unearned premium above the $490.00 would be refunded to you per the date you submit your written cancellation request.
You may cancel your policy by sending a request in writing via email, fax or mail. Please be sure to include the name of policyholder and certificate number. NOTE: Minimum premiums are fully earned at inception of the policy. Anything above the stated minimum premium may be pro-rated for a refund.