Cancellation Clause

Definition of "Cancellation clause"

Greg & Isila Jimenez
Greg & Isila Jimenez Keller Williams Agusta Partners

Contractual provision describing the terms under which coverage may be terminated. An insured or insurer may cancel a policy before its expiration date. Generally, a written notice of cancellation must be sent. The insurance company then refunds a part of the premium as stipulated in the insurance contract.

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