Cancellation Policy

Clear, upfront information so you know exactly where you stand. 

No Cooling off Period

As commercial insurance products, our policies do not include a cooling-off period and cannot be cancelled for a full refund once purchased. 

Fees and Commission

When placing your insurance, we charge an administration/broker fee and receive a commission from the insurer. If you need to cancel your policy before it expires, please note that AUZi retains these fees and commissions on any premium refund

Choosing the right policy term

If a short-term option is available and you may need to cancel within 12 months, we strongly recommend selecting a short-term policy. 

This is typically a more cost-effective option than cancelling mid-term. 

Market Stall Holder policies - 1 or 3 Day Cover

Market stall holder policies purchased for 1 or 3 days are non -cancellable. 

In limited circumstances, we may agree to process a cancellation. Where approved, a minimum cancellation fee of $22.00 will apply to cover administrative costs. 

How to request cancellation

  1. You can initiate cancellation via your MYAUZi account. 
  2. If the cancellation option is not available in your MYAUZi account, please email us at mail@auzi.com. Please confirm your policy number, date of cancellation, and reason. 

Monthly Instalments - Arranged via Arteva Funding.

Monthly instalments are arranged via a third party, Arteva Funding. 

On cancellation, any return premium is paid to Arteva and applied to your loan. 

In most cases, a remaining balance is still owed to Arteva Funding in order to finalise your loan agreement. 

Arteva Funding also charge their own cancellation fee. 

Products Liability & Professional Indemnity – Important

If your policy includes Products Liability or Professional Indemnity Insurance, it is important to understand how cover applies.

Both of these covers operate on a claims made basis, meaning the policy must be active at the time a claim is made against you.

For example, if you sell a product or provide professional services today and cancel your policy tomorrow, you will not have cover in place if a client makes a claim next month regarding that past work or product.

We strongly recommend maintaining your insurance (often referred to as "run-off" cover) until you are comfortable your exposure to past risks has significantly reduced.