Notice Of Cancellation Clause


Definition of "Notice of cancellation clause"

Matthew Patty real estate agent
Matthew Patty, Real Estate Agent Century 21 Shoreline Properties

Provision in an insurance policy that permits an insured to cancel the policy and recoup the excess of the paid premiums above the customary short rate for the expired time. The clause also permits a company to cancel the policy at any time by sending the insured five days' written notice and repaying the excess of the paid premium above the pro rata premium for the expired time.

 

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