Policy Cancellations & Refunds

ELIGIBILITY:

• Policy active less than 8 months: Eligible for partial refund
• Policy over 8 months: No refund available
• If claim filed and paid: Coverage terminated, no refund

PROCESS:

1. Customer contacts their insurance broker (not Methaq directly)
2. Broker submits formal cancellation request to Methaq
3. Methaq processes: Up to 30 calendar days
4. Refund = unused premium minus cancellation fee (~50 AED + VAT)
5. Refund transferred to customer’s bank account

IF VEHICLE SOLD: Additional requirements – Ownership transfer document, Proof of sale