Trying to cancel

Budget Direct

? Avoid the runaround.

Budget Direct allows flexible cancellations for insurance policies, but understand these key eligibility conditions first:

• 21-Day Cooling-Off Period:
  Cancel your policy within 21 days of purchase or renewal for a full premium refund (provided no claims have been made).
  
  
• Post Cooling-Off Cancellations:
  Cancel at any time after the cooling-off period and receive a pro-rata refund of unused premium minus an early cancellation fee ($40).
  
  
• Claim Impact on Refunds:
  Policies with total-loss claims or significant claims may not be eligible for refunds of unused premium.
  
  
• Policyholder Authority Required:
  Only the main policyholder can authorise cancellations, other listed individuals cannot cancel on your behalf.
  
  
• Outstanding Premiums:
  Ensure any outstanding premiums for coverage up to the cancellation date are settled promptly.
  
  

🔖 Tip: Cancel within 21 days for a fee-free full refund. After that, aim to cancel near your renewal date to minimise charges.

Cancelling your Budget Direct policy is straightforward—follow these clear steps:

1. Prepare Your Policy Details:
   Have your Budget Direct policy number and personal identification ready.
   
   
2. Choose Your Cancellation Method:
   
   
   • Online (Policy Manager): Log in to your Policy Manager account and select "Cancel Policy."
     
     
   • Live Chat: Initiate cancellation via Budget Direct’s website chat.
     
     
   • Phone Cancellation:
     
     
     • Car/Motorcycle: Call 1300 306 560
       
     • Home Insurance: Call 1800 182 310
       
       
3. Complete the Cancellation Request:
   Provide your cancellation details and desired cancellation date (immediately or future-dated).
   
   
4. Confirm Your Refund and Fees:
   Budget Direct calculates and confirms your pro-rata refund and the $40 cancellation fee clearly.
   
   
5. Receive Cancellation Confirmation:
   Expect a written cancellation confirmation via email detailing your cancellation date and refund amount.
   
   
6. Monitor for Refund Arrival:
   Refunds typically arrive within 5–10 business days via your original payment method.
   

🔖 Advice: Use Budget Direct’s online self-service or live chat for a quick and convenient cancellation experience.

Keep these important Budget Direct cancellation timelines in mind:

• Cooling-Off Period:
  Cancel within 21 days of policy start or renewal date for a full refund without any fees.
  
  
• Mid-Term Cancellations:
  Cancel at any time during the policy term. Budget Direct refunds unused premiums promptly, typically processed within 5–10 business days.
  
  
• Renewal Cancellation:
  Cancel effective your renewal date to avoid the $40 cancellation fee. Notify Budget Direct before renewal date if you don’t wish to renew.
  
  
• Billing Cycle Considerations:
  Cancel a few days before your next scheduled premium payment to avoid additional charges.
  
  

🔖 Important: Always confirm your cancellation is processed by obtaining written confirmation from Budget Direct.

Be clear about Budget Direct’s fees and charges when cancelling your policy:

• Cooling-Off Period (Within 21 Days):
  $0 fee applies, and you’ll receive a full refund of premiums paid if no claims were made.
  
  
• Cancellation Fee (After Cooling-Off):
  A standard $40 administrative fee is deducted from your pro-rata premium refund when cancelling mid-term.
  
  
• Pro-Rata Premium Refunds:
  Refunds calculated based on the unused portion of your paid premium minus the $40 cancellation fee.
  
  
• Government Taxes & Small Amounts:
  Non-refundable government charges or amounts under $1 won’t be refunded.
  
  

🔖 Note: Cancelling exactly at your policy’s renewal date incurs no fee, making it the ideal time if possible.