Why can’t I have my premium refund back on my debit/credit card?
For security purposes MCM Insurance does not hold your payment details on its system and so reimburses the policyholder via a cheque payment.
Categories for Premium Refunds
Where is my premium refund cheque?
Please contact the MCM Insurance Customer Service team using the live chat facility on the website to cheque on the status of your refund payment.
Why does a refund take so long?
The MCM Insurance service standard is to make refunds within 14 days, but we aim to send out your refund cheque within one working day.
Why is my premium refund so low?
The first 3 month’s premium is not refundable in the event that you cancel your business insurance policy within this period. The remaining 9 months premium will be refunded on a pro rata basis. MCM Insurance earns all of its commission at point of sale and this is not refundable....
Who is the premium refunded to?
For security purposes, MCM Insurance makes premium refund payments to the policyholder (the insured). This may not be the same person who paid for the premiums initially.
Does MCM Insurance pay my refund?
Yes. MCM Insurance will calculate the amount of premiums to be refunded to you and send payment by cheque within 14 days.